Many plans for wealth preservation primarily use offshore strategies. Here’s why.

Offshore Questions:

What is meant by the term Offshore Haven?”

Offshore Haven, money haven, or offshore financial centers are the terms used for any countries with a friendly financial climate towards investors. These can be any foreign jurisdiction where your assets or income enjoy 1. more protection 2. are more private 3. have fewer taxes. In an offshore financial centre you can conduct business, invest, raise capital or achieve other financial or wealth preservation objectives and goals.

There are about 20 countries that have favourable financial laws that favour the investor.

How are assets transferred offshore ?

Assets are transferred the same ways as inside a domestic entity: You can wire transfer funds, your stockbroker can transfer securities, you can transfer personal property by bill of sale or assignment, and convey real estate by deed. Additionally, international bank cards are used to receive assets from foreign accounts; accounts can be securely managed online, instant transfers can be made via the Internet, and echecks can be written and instantly authorized for immediate payment to vendors.

Is offshore asset protection superior to domestic asset protection?

Domestic: If you have no present or anticipated claims against you, then a domestic asset protection plan may be adequate as state homestead laws may protect some of your home equity.

You may convert unprotected investments to exempt or protected status, ie, annuities and insurance are sometimes protected by state law. Retirement accounts may also be partly or fully protected. Corporation and limited liability companies can help to shelter assets from creditors.

The protection methods of offshore strategies prove themselves much tougher to pierce when confronted with expert attorneys, experts in litigation, tax personnel and creditors. When secured legally, wealth and assets protected offshore are virtually untouchable under every circumstance.