WHY OFFSHORE?
What is Offshore?
Offshore means putting your money in a foreign bank to protect it from taxes and creditors. It is important to remember that we do not believe in defrauding creditors, evading income tax or hiding assets. Offshore must be the legal transfer of funds offshore. Offshore is legal, but the process of going offshore is complex and must be done by a company or firm that you trust, as the guidelines are very specific as to what is legal, and what is illegal offshore banking.
What is the difference between onshore and offshore banking? The difference is that onshore banking is subject to taxes, rules of foreign exchange and, most importantly, onshore banking is not confidential. Offshore banking, on the other hand, is tax free, free of currency regulations and completely confidential.
Here are some reasons why you might want to go offshore
* Increase personal privacy
* Protect a percentage of your income from income taxes
* Protect yourself from invasive bureaucracy
* Protect against frivolous lawsuits
* Protect your assets from seizure
* Assist estate planning
* Delay any taxation
* Preserve your assets for your heirs
* Protect capital gains from capital gains taxes
Is offshore investing for anyone?
Years ago offshore investing was only for the very wealthy, but with recent increases in communications, offshore investing has become much more accessible and reliable than in the past. Is it safe? Yes, most people of great wealth have large amounts of their earnings in offshore accounts. How much money to start? Most investors begin with $1,000 investment. Of course, you will need to pay yearly maintenance fees on your corporations and foundations, though this is very small; in Panama, the maintenance fees are $600.00 a year. Is offshore investing safe and legal? Yes to both. As a U.S. citizen, you are allowed to invest offshore. Remember, there is a difference between tax avoidance and tax evasion. Legal offshore investing is tax avoidance, not tax evasion. As a U.S. citizen you have the right to move your money offshore if you wish: investors do this everyday in order to take advantage of potentially high yield investments in emerging markets. What about the safety of offshore banks. Most offshore banks have to have at least 10% of their public deposits covered by liquidity, in other words, money; there is nothing like F.D.I.C in offshore banks. Therefore, the larger the offshore bank the better. Some of the biggest banks in the world are offshore and cater to clients that wish to put their money in offshore corporations and foundations.