 |
 |
 |
|
|
|
|
|
Offshore Banking Money TrailUBS Swiss Bank Closing Accounts of AmericansAsset Protection Using Offshore Banks in Multiple JurisdictionsComparison of Offshore Banking JurisdictionsEcuador BankingOffshore Banking Money TrailAsset Protection Using Offshore Banks in Multiple JurisdictionsEcuador BankingOffshore Banking Money TrailAsset Protection Using Offshore Banks in Multiple JurisdictionsAsset Protection Using Offshore Banks in Multiple JurisdictionsUBS Swiss Bank Closing Accounts of AmericansWhat is a Qualified Intermediary?Ecuador BankingEcuador Country ProfileOffshore Banking Money TrailAnonymous No-Name Debit ATM CardAsset Protection Using Offshore Banks in Multiple JurisdictionsComparison of Offshore Banking JurisdictionsUBS Swiss Bank Closing Accounts of AmericansWhat is a Qualified Intermediary?Ecuador BankingEcuador Country ProfileOffshore Banking Money Trail
Online Virtual Gold and Currency ServicesInternational Living – Moving OffshoreTranslate this page into...
Spanish
French
Italian
German
Portuguese
Dutch
Russian
Japanese
Korean
Chinese
Introduction – This is designed to be a political, legal and philosophical analysis of different countries and how they view asset protection. This is viewed from a civil law point of view mostly but there is some consideration of government litigation or seizure of assets by governmental agencies on any level. We will not be mentioning any country specifically by name, just describing the attributes. We hope this will assist you in evaluating your current situation and where you want to be regarding protecting your assets.
Bank Secrecy and Asset Protection – What we look for first and foremost is bank secrecy. Is there some form of bank secrecy? The less bank secrecy a country has the less freedoms are afforded to its citizens as a rule of thumb. When privacy is removed freedoms are typically also gone. Some good reasons for bank secrecy would be as follows: privacy, reduction of risk for litigation, kidnapping, blackmail, and extortion.
All countries will violate bank secrecy for some reasons. Some countries reserve this for major criminality like blackmail, murder, slavery etc. Others share bank and corporate information openly allowing fishing expeditions under cover of TIEA (Tax Information Exchange Agreements). Some share information only in criminal matters like under a MLAT (Mutual Legal Assistance Treaty). The easier it is to get information out of a country regarding banking and corporations the worse the country is for asset protection because your financial enemies could readily find you and your assets.
When a country gets banking or corporate information through a treaty they are generally not obligated to keep that information out of the public domain. That information may very well wind up in public court records or even posted on the Internet. This facilitates criminals and financial enemies or potential financial enemies finding out where your assets are. Remember if you have no enemies and someone reads in the public domain that you have assets of substance in such and such a bank then you can immediately start having financial enemies or worse. You will find that countries that violate the right to privacy of its citizens are generally the ones with the high crime rates, which means your chance of being a victim of a crime increase as your assets are exposed. Bank secrecy is a key ingredient to a favorable asset protection environment.
No Tax on Offshore Derived Income – If a country taxes all income do not consider it any further. There are better places to put your assets. If a country taxes capital gains on bank interest or stock market trading gains this is generally also a go away signal. If the country only taxes onshore-derived income and does not tax offshore-derived income this is fine since you are not operating a shoe store in the country. If you are looking to live in the asset protection tax haven then you have to consider how the government supports itself.
Small Island Jurisdictions - Many of the Caribbean Islands have no income tax but they do have stiff VAT on everything and since practically everything is imported so the cost of living can be a shocker. The Plasma Screen TV that cost you $1200 might be $2750 in these islands. Food, beverages, clothes etc are all brought in and have high taxes so the cost of living may be high. Also in these smaller nations watch out for the locals using the courts and the administrative agencies to clean your clock. They are all known if not related to each other and they will fix cases and corrupt officials readily at your expense. No local lawyer is going to go far representing foreigners against the locals so the lawyers will take your money and set you up for a failure. Small island countries can be a mistake and they lack secrecy laws of any sort these days anyway.
Corporate Secrecy and Asset Protection – You want to be able to own a bearer share corporation where the shares are made out in blank or to another unnatural entity like a corporation or foundation. Ownership records should not appear in any public registry or database. If the ownership records are public, no good run. If the shares need to be made out to a persons name and kept in the country with the registered agent, run. Shares should be transferable without any reportage to any government entity. Foundations should be anonymous as well in a similar fashion.
Civil Legal Systems and Asset Protection - If you hear stories of people using the courts to sue other aggressively, run. Your money is not safe. If the lawyers are free to sue wildly on any point of law that comes into their head, run. An example of this would be "Near Accident Syndrome". They sue you based on almost having an accident with their client and putting their client through stress, and emotional trauma. They will crush you with legal expenses. If the judges start to make it up as they go and deviate from following the law, run. Your assets are not safe. If it is easy for a lawyer to post a band and freeze your assets before you know what happened, run in that the idea is to freeze all your money so you cannot get a lawyer and mount a defense.
 |
||||||
|
Call Us Free with Skype:
