Various Ways That Offshore Asset Protection Can Be Good For You

Posted by Sterlingoffshore on February 18th, 2016

Offshore asset protection pertains to a body of common and statutory law and set of legal methods to protect your assets from civil money judgements. It aims to prevent creditors from claiming or having rights to your assets without putting you at risk for tax evasion or concealment. A starting point in offshore asset protection is usually by forming an offshore foundation or trust as part of estate planning and establishing a limited liability company (LLC) or international business company (IBC) as a subsidiary. These can be combined with conventional and effective investment and banking strategies.

Offshore trust formation is one of the ways that you can protect your assets. Offshore trusts are entities established in another country where the law favours privacy and asset protection as well as often providing more flexibility such as with non-charitable private family purpose trusts. You can take advantage of those laws in many jurisdictions around the world, such as Belize, Panama, BVI, and Seychelles. The key is to choose the right jurisdiction that suits your personal requirements and asset protection needs. Remember that your chosen jurisdiction will significantly influence the structure, formation, and operation of the offshore trust.

Moderate to high net worth individuals may find offshore asset protection beneficial for their personal interests. Setting up an offshore foundation is another way to take advantage of offshore asset protection with proper asset protection and tax planning techniques. These strategies may be helpful for high-risk individuals who are often at risk of legal actions and disputes. Lawyers, doctors, business owners, and investment managers are some of the professionals who can consider this form of offshore asset protection.

People living in a country that practises civil law may not recognise the concept of a trust. In that case, they have the option to set up an offshore private foundation to protect their assets. This is a versatile protection technique that can be used by residents from common law countries, too. Unlike trusts, private foundations are separate legal entities and are 'incorporated', like a company. Hence, it is not subject to any validity legal claims. Offshore private foundations provide various structuring options, making them versatile in meeting many different requirements and are easily adaptable to customised offshore asset protection structures.

Wealthy families and individuals who are working to be included in those groups must consider offshore asset protection to protect the assets that they have worked so hard to get and continue to acquire. It is easier for your financial enemies to use technology to find your assets and use that as grounds to sue you. Moreover, governments can easily encroach on privacy and civil liberties, and the world itself has become more litigious. Setting up an offshore asset protection trust or a private foundation can be your defence against attempts.

About the Company:

Sterling Trust & Fiduciary Limited in Seychelles is a leading licensed and regulated corporate, trust, fiduciary and fund services provider delivering specialised solutions for a global clientele of international corporations, institutional investors, high net worth individuals and families as well as their intermediaries. Whether an end user of our services or an intermediary, Sterling provides an efficient, personalized approach to ensure smooth, efficient delivery of services that meets the requirements of each client.

Sterling establishes, manages and administers offshore companies and international companies, offshore trusts, private foundations and funds utilized in various structures for an international clientele spanning over 80 countries.  These entities combined with Sterling's supporting services allow us to provide a number of different solutions designed to achieve specific objectives of our clients.  These objectives broadly include asset protection, international investment, tax optimization and foreign market entry.