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 careful about establishing control over an Offshore Trust because you diligently considered the advantages it can give you - and equally diligently considered the ramifications and consequences of organizing your financial matters in such a way that you do obtain your objectives!

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 for management of the Trust. 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 the Trust, the Trustee, and the Protector are located in three different offshore countries, none of them your own!
    • 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!)
    • Use Google or another search engine to check what you get on using the keywords "scam", "complaints" charges", "lawsuit", "legal action", "litigation", "judgment" together with the name of the company or its key personnel. Be careful with this information - because anyone can post an opinion on the Internet without offering any form at proof at all. Also: nobody should be deemed guilty just because someone else sues them; you need the judgment before you make up your mind, not the charges that are filed by someone who may or may not be frivolous.... However, if you come up empty-handed after such a search, then chances are quite good that the company is legit, as the only other possibility behind such a result would be that it is brand-new.

  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 such a 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 difference it would make for you, as a private person, if you are assuming any management duties for the Trust - or in any way whatsoever haev your name officially on record as holding an office of any kind for the 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.

    Be aware that your attorney will not be able to give you any advice in regards to offshore matters. In the USA, it is outright illegal for him to do so! You have to present your inquiry in such a way that you get the information as if you were contemplating using a domestic Trust.

    You should also be prepared for the fact that, in most countries, you cannot donate anything to someone else (including a Trust), without it having tax consequences for yourself, except if the recipient is a government approved charity. The point is the your government is not very likely to believe that you are indeed donating - it will assume that you are investing, and you have the burden of proof!

  4. Make up your mind about what exactly you need in terms of "extras" for the Trust. You should seriously decide about at least the following:
    • Simple Trust or Foreign Grantor Trust?
    • Credit Card Account?
    • Debit Card Account(s)?
    • Trading Account?
    • Add an IBC or Foundation? If so:
      • Name(s) for your IBC/Foundation?
      • Nominee Directors for your IBC - or Council members for your Foundation?
      • Add a local/domestic 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...).

    Do not discuss with your accountant how you will get those assets transferred! That is none of his business. Just get an idea of what the overall result for yourself would be in case you did this.

    It is crucial that you remember that everything you tell your accountant can and will be used against you in case of a dispute between you and your government! Your accountant has no obligations in regards to protecting your privacy - but his business license depends on him being in "good standing" with the government...

  7. When you get disappointing answers from your professional advisors, then check with us that you understand what needs to be done!

If you are a US citizen or live in the USA, you are naturally prohibited from ordering the set-up of any offshore entites, unless you accept full tax liability for them! Please contact us to discuss your possible options. We promise you that you will like the solution we have....

As said above, you will most likely be quite disappointed, particularly with what your attorney will tell you. But do not despair - we have a solution for you that will keep you free of all legal obstacles in your own country!

We will be happy to assist you getting your control established without the problems you think you will be facing - when you are ready for the commitment and know what you are doing. But the additional information is neither simple nor free - and it is not to be given to someone we do not even know who is. That problem can be solved by your identifying yourself by following the procedure outlined on this page, and we will then provide you with a list of links to where you can obtain the crucial information to fill in the gaps, for some extremely reasonable fees.

Anything left unanswered or unclear?
If so, then please send us an e-mail
with your question or comments!

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