Things to consider about
Establishing "offshore" legal entities (Trusts, International Business Corporations, Private Interest Foundations) is not for everybody.
On this page, you will find the most important criteria you must check, about yourself and the laws of the country you live in. And about yourself and your attitude to power and personal freedom.
There are four main areas you need to check:
You can make your own score. This is not an exam - and yet it is. You do the math you want on your answers, and you can compare the result to what you feel comfortable about. If the result is that you do not feel attracted, then drop the idea of "going offshore"! But if it still appeals to you after this, then take the action you know is required. If you are left in doubt, then chances are that you need more information - and then resolve to get that information!
Your legal limitations...
Here are the red flags you should not ignore:
If any of the above "red flags" relate to you, you have to be very cautious, as any offshore involvement might bring you in conflict with the laws of your country. You are probably already aware of this abuse of your fundamental human freedom rights, and we hope for you that you have found ways of protecting yourself from your government's tyranny. If you live under a totalitarian regime that has stripped you of these fundamental rights, you are at risk if you engage yourself in an offshore venture, and you will need to find ways of adapting to the challenge. The specific ways must be chosen by you, as they relate specifically to you and your situation.
Your personal attitude and preparedness
Here are the questions you need to consider in order to determine if you are willing to pay the price your privacy and financial freedom will cost....
If you are hesitant about answering "yes" to all these questions, then you are heading for some personal conflicts by "going offshore". Everything has a price - and freedom is not free. But it isn't restricted to millionaires either! And the price is not only financial - it most definitely also involves emotion.... If you have a desire to show your neighbors and friends that you "do better than the Jones'", then you are better off staying on-shore....
Your personal rights of freedom
If you can answer "Yes" to all of the above questions, there are no restrictions for you to benefit from using offshore business entities - and from enjoying the benefits from doing so...
Your personal desires and goals
Here are the questions you need to consider in order to determine if you are the kind of person who will enjoy and benefit from an offshore involvement:
If you answer "yes" to these questions, then you have the mindset of a successful person - and going offshore will only make you even more successful, as you get rid of many of those restrictions that currently hold your talents back from performing their best...
Your check list - before you spend any money...
Finally, if you came this far, you also need to understand that the way to approach this goal is actually more important than any standard questions like
Let it be crystal clear that you can achieve your asset protection objectives with a Foreign Grantor Trust, with a Private Interest Foundation, or with an IBC (= International Business Corporation). They are all suitable - and none of them will work if you get the set-up done wrong!
For conduct of business (other than passive investments), you will need an IBC which is owned by one of the other two.
Also, what domicile you choose is of extremely minor importance, if it has any at all. Except for the fact that you know that people who urge you to focus on that topic as being important simply know nothing about "offshore" from personal experience... The only relevant limitation is that you cannot engage the offshore entity to conduct business in its own country! So, if you want to invest in, say, Panama, then you cannot use any entities that have Panama as their domicile. Other than this, domicile simply does not matter.
Your service provider matters, though.... The people you contact in order to get an offshore presence into operation for you and the way they do it is paramount to your success and to your ability of staying out of legal trouble with your own government.
You must make sure that your service provider accomplishes all of the following for you:
Here is what will kill the deal for you:
If you know of a service provider that can and will ensure your compliance with all these demands, and who will put you in firm, realistic control of an offshore legal entity, without giving you any liabilities for it whatsoever, but including the education you need to be able to do this, then you have done your due diligence well.
How did you make out?
We cannot give you a template for marking your results. Even if you can't answer all questions "correctly", it is still a matter of your personal judgment to conclude how far you might be from being able to do so. And that's what you need in order to make this decision diligently.
However, if you have no problem with any of your answers, then we can also promise you that you will benefit seriously from "going offshore" - and you will also enjoy it.
Whether we hear more from you or not about this, we hope that this little "exam" has helped you make the decision that is right for you - and have peace with it.
To your freedom!
Novasol Judicare Inc.
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