Asset Protection using an Offshore Corporation
by Doug Sitenal
Protecting your Assets through an Offshore Corporation
Forming a company offshore is a far superior asset protection technique than any onshore asset protection setup.
Shocking to most, is the fact that an onshore asset protection setup can be pierced for any number of reasons.
It's an all too common scenario. In the heat of a lawsuit, a sympathetic judge simply sets aside your asset protection trust for one technicality or another.
Offshore asset protection via an offshore company, on the other hand, is rock solid. The assets are far from the reach of any judge or court. The victim, who is being sued for all he is worth, can rest securely knowing he can never be ordered to bring his money back because legally speaking, he does not own it.
There are two common offshore protection techniques. The first is a bearer share corporation, which is owned by whoever happens to be in possession of the share certificates. There is nothing more flexible and anonymous in the offshore banking world. The second option is an offshore company owned by an offshore foundation.
Legally nobody owns a foundation so it would be impossible for a judge to order the money be brought back onshore.
If you want to keep your assets secure, and protection yourself from frivolous lawsuits, you should consider incorporating offshore.
Offshore company formation is not expensive. An offshore corporation and bank account cost less than $2000. Well within the reach of most people looking for ways to protect their assets.
If you are considering an asset protection setup, consider reading more offshore corporation related information from offshorelegal.org Click here to get your own unique version of this article.
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