An offshore trust is more and more being used in today's globalized world as a legitimate and highly functional tool to safeguard assets and ensure financial security. Although the world of offshore remains a mystery for many, it is a very simple yet effective means to ensure what's yours, stays yours.
Are you looking to find out, how much does an offshore trust cost, you must first understand what constitutes an offshore trust and what makes it different than a domestic trust.
Amazon FBA businesses have become extremely popular in recent years, as they offer an ideal way for new and small businesses to leverage Amazon’s sophisticated logistics network and get themselves off the ground.
Many people start selling their products as individuals on Amazon, and by default simply run their business as sole proprietors. However, there are a few other options available when deciding how best to structure your Amazon FBA business, and the decision can have important implications.
An increasing number of budding entrepreneurs are realising the great potential of selling products on Amazon’s established eCommerce platform. Amazon offers small businesses access to their advanced logistics and distribution networks via their FBA (Fulfilment by Amazon) service.
Many people start selling on Amazon as individuals without officially forming a distinct business entity. This is not recommended as it comes with a number of risks and disadvantages.
With the massive rise in awareness and popularity of NFTs (non-fungible tokens), along with stories of average Joes making millions in a matter of months, everyone is now trying to understand how they may partake in this market and have their share of the pie.
If you are one of those individuals looking into ways to make money from NFTs, it is important to also consider the practical implications such as taxes.
Taxation of NFTs is complex and generally unfavourable in traditional onshore jurisdictions. As such, many investors and NFT businesses are turning to tax-free offshore company structures through which to operate in the NFT space.
When the words “offshore bank account” are spoken, the first place that comes to many people’s minds is Switzerland. Switzerland is often regarded as the premier jurisdiction for offshore banking.
In this article, we will explore why that is, and discuss the potential advantages of opening a bank account in Switzerland. We will also talk about the things to keep in mind when trying to open a Swiss bank account as a non-resident, and how to practically do so.
An asset protection trust is one of the best ways to protect assets from being seized by creditors, lawsuits, or any other claims. However, several considerations determine whether an asset protection trust makes sense for your specific needs.
Asset protection is worth the cost if you have assets to protect in the first place, as it ensures your assets will still be there in times of duress.
In the world of offshore asset protection, the Cook Islands Trust is widely recognised as the gold standard. It was one of the first genuine offshore asset protection vehicles widely available to wealthy individuals from all parts of the globe.
To this day, it remains a highly effective tool to protect one’s wealth, maximise financial privacy and safety, and optimise estate planning and taxes.
In this article, we will focus on specific aspects related to the Cook Islands trust, such as whether it is legal and safe, what problems there may be if any, why people form Cook Islands trusts, and the important roles of different parties like the trustee and trust attorney.
Setting up an offshore company in a foreign jurisdiction can provide access to many advantages. Perhaps the most significant of these comes in the form of significant tax benefits and savings.
In this article, we will look at the various tax benefits which are often available to offshore companies along with other additional advantages. We will also discuss how to actually qualify for and best make use of the benefits which may be available.
If you did not know already, but a correspondence address is an address from where you can send and receive mail. Businesses usually use their physical office address as their address for correspondence; however, there are situations where you might want to have an address that is separate.
This article will cover why you might want to have a correspondence address that is separate from your business and where you might find one.
Tax havens provide an ideal corporate landscape for business owners wishing to set up a company offshore and take advantage of reduced taxes, better privacy measures, and asset protection.
Setting up an offshore company in a tax haven is usually a straightforward process. However, it is important to first understand all the various factors involved and whether or not embarking on such a process is right for your specific objectives and circumstances.
In this article, we outline what is meant by the term “tax haven”, the reasons why (or why not) one might want to set up an offshore company in a tax haven, and how to practically go about it.
The recent boom in digital asset markets, along with the increased pressure from the IRS to tax cryptocurrency gains, has led many new crypto elites from the US to search for viable ways to ease their crypto tax burdens.
Puerto Rico has been an attractive offshore tax haven for US residents due to its proximity, ease of access, and generous tax savings. Puerto Rico is the only ‘offshore’ tax haven that is officially a territory of the United States, which makes it the most accessible way for US citizens to avoid domestic taxation on worldwide income, simply by relocating and becoming tax residents of Puerto Rico.
The cryptocurrency and blockchain industry has grown exponentially over the last decade, and is now soaring into mainstream popularity. Recent years have seen a rapid increase in the number of crypto businesses looking to innovate and profit in this exciting new space.
Unfortunately, the open adoption of cryptocurrency by many governments around the world has lagged somewhat. Some governments remain firmly anti-crypto, while others simply haven’t adapted fast enough to know how to supervise and regulate this constantly evolving space.
The global cryptocurrency market has experienced a massive boom in recent years. This is not only reflected in the astronomical price increases of many cryptocurrencies and digital assets, but also in the exponential growth in popularity and users of cryptocurrency and decentralised finance.
Whether you are a seasoned crypto veteran who has been trading for years, or you are just now considering getting involved in this exciting industry, it is worth exploring the potential benefits of setting up an LLC for your crypto activities.
No one likes the feeling of making incredible gains on an investment, only to see 30-40% (or even more!) of the profits getting eaten up by exorbitant capital gains taxes. Unfortunately, that is the reality in many developed nations, where capital gains taxes accounts for a large portion of total government tax revenue.
Luckily, there are a large number of countries which have prioritised respecting capital gains of investors as they understand that it can help encourage investment and capital efficiency, and lead to an overall healthier and stronger asset market and wider economy.
As such, many of these nations levy negligible or absolutely no capital gains taxes on investment profits.
Initial Coin Offerings (ICOs) have gained massive popularity and adoption over the last decade due to their practical uses and advantages over other traditional ways of raising capital.
That being said, they are still a relatively new concept in the world of investing and venture capital. This has resulted in major differences in how they are viewed and regulated across different countries, with some taking a significantly more or less friendly approach than others.
As a result, crypto startups looking to raise capital through an ICO have tended to prefer doing so in a more favourable offshore environment.
In this article, we take you through the basics of what an ICO is before discussing why it makes sense to specifically launch an ICO in an offshore jurisdiction. We also guide you through the practical steps of how to launch an ICO offshore, and briefly mention some of the best countries in which to do so.
An Initial Coin Offering provides a way for cryptocurrency startups to gain direct funds from investors and venture capitalists for the launch of a new cryptocurrency. ICOs are a process by which the investor obtains tokens or virtual coins associated with a project or startup in exchange for an initial investment.
Although ICOs are a fairly new concept, it has been found that the traditional structure of a private foundation is an optimal vehicle through which to launch an ICO. This is due to various features which are specific to foundations, and which suit the ICO model well.
Panama is one such jurisdiction that lends itself perfectly for the formation of a foundation for the purposes of launching an ICO. In this article we explore why foundations are useful entities to launch an ICO, what to look for in a foreign jurisdiction for forming an ICO foundation, and why Panama is one of the best choices around.
Offshore outsourcing refers to hiring an outside company in a foreign country as a third party to help in business activities. Seeking outside helps not only helps to reduce costs and expand operations but also to get a greater return on investment.
Offshoring occurs across a wide range of industries, sectors and job descriptions from both single-member companies and large multinationals.
Since as early as 1965, the US State of Delaware has been able to develop beneficial offshore structures for company formation and has become an attractive offshore jurisdiction due to its friendly corporate legislation and other key advantages.
The preferred type of corporate vehicle in Delaware is a Limited Liability Company (LLC). A Delaware offshore LLC offers numerous advantages and uses, such as zero corporate taxation, high levels of financial privacy, fast and affordable incorporation processes, and few reporting requirements.
Partnerships are a common type of business entity which allows for multiple owners. Ordinary partnerships operate in a similar way to sole proprietorship, except with more than one owner. There is, however, the option to form a limited partnership. This is a special type of partnership with features that are akin to a limited liability company.
In this article we will explain what exactly a limited partnership is and how it differs from a general partnership. We will also discuss some of its advantages and uses.
Intellectual property (IP) assets include patents, copyrights, trademarks, and private data and methods. Depending on the nature of the business, these assets can often be some of the most valuable that a business holds. This is especially the case for various software, specialised product, and other innovative companies. Their IP is what sets them apart from their competitors and gives them that edge to be better than the rest.
IP is a very real asset type that can even be used as collateral when applying for loans, can be added to the balance sheet of the company as equity, and can help secure merger and acquisition deals. It therefore makes sense to protect these valuable assets in the best way possible.
Owning a business can be a highly rewarding and profitable venture if handled correctly, but it also comes with risks. In the increasingly litigious society that we live in, businesses are faced with more claims and lawsuits than ever before. As a business owner, it is your responsibility to understand the many risks which face your business and personal assets, and take the necessary steps to protect them.
In this article we will outline the importance of asset protection and some of the best asset protection strategies that can be used.
The Central American nation of Panama has become a popular location for foreigners looking to start an offshore business. Its favourable regulations and tax regime, along with its diverse entrepreneurial opportunities and bustling economy make it an ideal place to set up shop outside one’s home country.
In fact, the Panamanian government has actively promoted and incentivised foreign investment with great success through their ‘Visión 2030 Panama’ scheme.
There are many benefits to starting an LLC in a foreign jurisdiction. It can provide you with enhanced privacy, asset protection, diversification and help you avoid the hassles of international regulation.
If you are looking to create an LLC overseas, there are a few steps and questions to think about before you get started.
There is a lot of misunderstanding that surrounds offshore banking. Despite what the media says, an offshore bank account is a legitimate financial tool businesses and individuals use for protection and security.
Offshore bank accounts are not illegal and can be used just like a domestic account, such as holding company profits or managing investments. Opening an offshore bank account provides you with many benefits, including asset protection, security, privacy, higher interest rates, as well as a secure plan B for tomorrow's uncertainties. Pretty much anyone can benefit from having an offshore account, regardless of background, income, or credit score.
Malta is an attractive European nation situated in the middle of the Mediterranean Sea. Many are drawn to its shores thanks to its excellent climate, high quality of life, and welcoming people. It has also become one of the most popular nations in Europe and the world to obtain residency and/or citizenship by investment.
In exchange for mixed investment in property and a government fee/contribution, it is possible to acquire Maltese permanent residency within 4 – 6 months, with a total minimum cost of approximately EUR 150,000.
Offshore companies are simply companies which are incorporated outside of the country in which the owner resides. Offshore companies have become popular financial vehicles, as they provide access to different financial and economic landscapes in potentially favourable offshore jurisdictions.
In an attempt to attract wealthy foreign investors, some countries have created friendly offshore financial environments which offer company owners greater levels of privacy, asset protection, and tax optimisation than can typically be enjoyed in their home countries.
In this article we will explore the use of offshore LLCs for anonymity and asset protection, discuss some of their other benefits, as well as the best jurisdictions in which to incorporate an offshore LLC.
If you’re familiar with cryptocurrency, you’ve probably heard the term “altcoin” thrown around before. It’s generally used to describe any cryptocurrency that isn’t Bitcoin, given the massive market share Bitcoin enjoys in the crypto space.
But altcoins represent an evolution of the cryptocurrency industry, bringing improved speed, lower transaction fees and programmability in the form of smart contracts.
With all of these upgrades comes some innovative and bleeding-edge mechanisms to earn passive income on your crypto holdings. Robust and risk-free schemes are already set up to maximize your investment and the opportunities are only increasing.
Cryptocurrency. It’s the notoriously volatile “investment” that dominates the financial headlines for both good and bad reasons.
But despite the fear, uncertainty and doubt about this emerging technology, the truth is that “internet money” has evolved into an almost $3 trillion dollar industry and made a lot of people very rich.
There are pitfalls, however, and if you’re not savvy, you can stand to lose a good chunk of your investment. But with a little knowledge and the right guidance, you could be holding with the best of them.
When you think of the richest countries in the world, the first ones which probably come to mind are economic powerhouses such as the United States, China, and Japan. While these are indeed among the wealthiest nations on earth with the largest economies, merely taking the gross size of the economy as a measure of wealth is not sufficient.
In fact, some of the smallest nations on earth are really also some of the wealthiest when we adjust for population size and quality of life.
With its highly liquid market and wild price actions, it should be no surprise as to why cryptocurrencies have become popular with investors. However, as with any other form of income, any income derived from or transacted using cryptocurrencies and other digital assets are taxable by the IRS - even if you’re an American ex-pat living overseas.
Since cryptocurrencies are a relatively new-fangled concept, settling taxes can get complicated especially if you’re not privy to the nuances of American tax law. Compound that with living overseas, then you get a situation where Americans working abroad are opting to skip filing taxes for expats rather than going through the quagmire of tax compliance. However, this is ill-advised as the IRS has aggressive measures in place to track these types of financial activities and can land you in legal hot water when caught.
Asset Protection & Financial Survival Strategies to Secure your Future
How To Protect Yourself, Your Assets And Your Freedom
Why You Need A Plan B Threats to Your Assets Global Diversification Planning
Disclaimer: Offshore Protection strives to keep information on this website updated, however, laws and circumstances are subject to change. All information on this website is for reference purposes only and does not constitute legal or tax advice. Contact an Offshore Protection representative for specific advice regarding your situation.