Your final Check List

- before you order
an Offshore Trust
and/or an IBC
set up for you...

It is important to us that you are establish your Offshore Trust because you carefully considered the advantages it can give you - and equally carefully considered the ramifications and consequences of organizing your financial matters in such a way that you do obtain your objectives!

Establishing an Offshore Trust should not be an impulse buy, but a carefully considered decision you know you will benefit from making. Doing your "due diligence" simply means that you check what you can check - with reason, and ahead of time. And you make sure that, at the very least, your checking encompasses all the major aspects of the impact your decision will have on you. You basically should convince yourself that you are not in for an unpleasant surprise after your decision...

Here is a suggested list of tasks you for sure should include on your to-do list:

  1. Confirm your own understanding of what a Trust is and why it should be "offshore". Please check the relevant information on this site, particularly

  2. Check out the company you consider establishing your Trust with. You should convince yourself that you are about to deal with a genuine company that is not going to disappear overnight:
    • Get their web site address and check the site.
    • Get their phone numbers and addresses - check that they are not phony!
    • Make sure that your Trust, your Trustee, and your Protector are located in three different offshore countries, none of them your own! Preferably, your Trustee should have a representation in your own country, but this is less important.
    • Check also with BBB or any other institution whose business register you have some faith in; look into any complaints or warnings they might have on record. (Please be careful with any source that cannot be verified as independent - the "grapevine" can tell you all sorts of things - and never be held responsible for being truthful or not. Also be careful with references - they will, of course, always be positive!)

  3. Have a meeting with your attorney regarding these points:
    • The possible legal implications of your transferring your assets to a "DISCRETIONARY, IRREVOCABLE, PURE TRUST", as the legal term is. (Please note that you do not need to obtain any advice in regards to what happens to your Trust... your attorney will have no way of having that specific knowledge from law school, so just focus on your own personal situation, particularly in regards to your current creditors and the agreements you have with them).
    • What taxes are payable by YOU in case of selling and/or donating your main assets to the Trust. (Again, don't bother about what happens to the Trust - the answer is NOTHING!)
    • What tax benefits you are entitled to by selling and/or donating assets to your Trust. (Once again: your Trust will pay NOTHING, regardless your losses and write-offs! You should discuss the details and technicalities of this later with your accountant, but make sure you get "the big picture" from your attorney.)
    • What difference it would make for you, as a private person, if you are the Grantor/Settlor or the Beneficiary of foreign Trust.
    • What support you can get in case of an audit, and how you should deal with such a challenge in order to minimize your risk of trouble. (Please note that your accountant is a liability for you here - only your attorney can protect you from divulging information you are not legally obliged to report!)
    • Get specific suggestions in regards to what you should do additionally to protect yourself.

  4. Make up your mind about what exactly you need in terms of "extras" for your Trust. You should seriously decide about at least the following:
    • Simple Trust or Foreign Grantor Trust?
    • Death Benefit?
    • Credit Card Account?
    • Debit Card Account(s)?
    • Settlor Account?
    • Trading Account?
    • Add an IBC? If so:
      • Name(s) for your IBC?
      • Nominee Directors for your IBC?
      • Add a local Corporation?
      • Nominee Director(s) for your local Corporation?
      • Agent for your local Corporation?
      • Business Licenses and other registrations for your local Corporation?

  5. Make a list of your assets, at least those you have on some kind of public record.

  6. Have a meeting with your accountant about the possible tax benefits you could generate for yourself by transferring ownership of those assets to your Trust, either as gifts/donations or as sales (at a price that give you the biggest possible personal loss...).

  7. Check with us that you understand what needs to be done! Use our on-line contact form to protect your privacy! We will also be happy to assist getting your offshore entities established - when you are ready for the commitment and know what you are doing...

Maybe you should print this list...?

Click here to get a printer friendly version - when it pops up, you right-click on it and select "Print" on the menu you get. When done, you simply close the browser window to get back to the site.

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