Why Go Offshore?
The principal reason of going Offshore is to place the asset outside of the jurisdiction of the United States court system. With this in mind, there are two necessary considerations with regard to going Offshore for Asset Protection Planning purposes.
The first consideration is whether you have enough liquid assets to move Offshore for protection and essentially setting up a nest egg. With a few exceptions, it does not make sense to go Offshore unless the individual involved has substantial liquid assets that can be placed Offshore because the U.S. Courts have jurisdiction over any assets within the US and can attack those assets. Accordingly, Offshore Planning usually requires some substantial liquidity that can be invested Offshore.
The second consideration for going Offshore is whether an individual has international connections such as family offshore, owning property internationally or having an offshore business. This is not a strict requirement, but does help to sustain the Offshore structure.
Offshore Bank Accounts
The set up and maintenance of Offshore bank accounts for US persons has become increasingly difficult because of the IRS’s aggressive position with respect to tax evasion and the US position relative to terrorism and money laundering. However, because of our international background and networking connections, we are in a position to assist our clients who legitimately want to set up Offshore bank accounts either as part of an Offshore investment or business or related to an Offshore Asset Protection structure. We have the wherewithal to expedite the process which usually involves the setting up of an Offshore LLC. If the purpose is to have a considerable amount of liquid funds managed and invested Offshore, we are certainly able to accommodate the client with that objective.
Offshore Corporations and Entity Formation Attorney
Setting up and operating an Offshore company should only be carried out after proper planning and tax and legal advice. We have set up hundreds of Offshore entities in various jurisdictions and have all of the necessary contacts and networking resources to quickly and effectively organize and put into operation the appropriate Offshore Business Entity. We understand both the legal and the tax consequences of owning and operating an Offshore Business and/or investments and you can take advantage of our years of experience and multitude of contacts with respect to the formation of your Offshore Entity. Setting up an Offshore Business is an Asset Protection strategy that requires a combination of both, foreign and domestic structures. Its wise to seek skilled legal advice from an Offshore Entity Formation Attorney who has proven expertise.
Jeffrey R. Matsen is active in business formation, integration and leveraging offshore business entities with new or existing asset protection structures in all of the major offshore jurisdictions. Jeffrey R. Matsen can form Offshore International Business Companies (IBC’s), Foreign Asset Protection Trusts, and similarly specialized offshore components of Asset Protection Plans. Unlike an offshore service provider located in just one jurisdiction, the objectivity and security of US licensed attorneys gives the client the options and benefits of alternative jurisdiction analysis. In addition, we can provide valuable insight to optimize the US component of any prospective business or asset protection structure.
For more information on “Why Go Offshore”, or to learn more about offshore bank accounts or corporations, please contact us to schedule an appointment with one of our highly qualified offshore entity formation attorneys who are dedicated to serving every client with professionalism, integrity, and wealth preservation solutions that work!