Search "wealth protection"

British Virgin Islands

BVI - Offshore company - Overview The economy of British Virgin Islands is one of the most prosperous and rapidly developing among other Caribbean economies. Offshore company legislation offering the possibility to incorporate in the country was adopted by the Government in 1985.The first International Business Companies Act was adopted in 1982 which enables for the establishment of tax exempted offshore companies having minimal compliance requirements and complete confidentiality of details. The British Virgin Islands have one of the most successful legislative systems supporting offshore activities. In 2005 a new BVI Business Companies Act came into force, which represents a further development in the already outstanding BVI offshore corporate legislation. The new Act removes any former distinction between a local company and an offshore company, promoting only ... Read More »

PANAMA Offshore Foundation formation

The Panama Private Interest Foundation (PPIF) is a type of Private Foundation considered the most secure asset protection tool in the world, regulated by The Legislative Assembly in Panama approved Law No. 25 of June 12, 1995 and constructed on the Panamanian Trust Law (No. 1 of 1994) as well as the Liechtenstein Family Foundation Law of the Principality of Liechtenstein in Europe. Panama Foundations have no owners under Panama Law - the beneficiaries and the protector, which are the effective controllers of the company, do not have to be publicly register anywhere. The Panama Foundation structure is Europe's equivalent of a Trust and has been used principally as an estate and succession planning tool by wealthy families for hundreds of years.The offshore foundation is a ... Read More »

Trust and trustee services

Trust and trustee services - Offshore company A fiduciary structure can help preserve your wealth and offer you greater flexibility over the management and distribution of your assets. A trust is established when a person, known as the Settlor, transfers assets to a Trustee. The Trustee is required to administer the trust assets and is responsible for managing and distributing the assets to the beneficiaries in accordance with the terms of trust. Trusts allow for someone else to manage the property, which can be useful when the property management requires significant time or skill; for example, in the case of management of real estate properties, a commercial business, an investment portfolio, etc. Trustees manage the assets per orders detailed in the trust deed and follow the trust regulation ... Read More »

Foundation

  Offshore foundations are key structure for asset protection, estate planning tax free vehicles. These are very similar to offshore trust, but have their own legal personality and no legal owner. Offshore Foundations recently become more widely used and becoming more popular than trusts for offshore asset protection. Most foundations are set up for the protection of the founders' assets and as a tax benefit. A foundation can be established for a fixed or indefinite period of time and can be used for charitable, commercial or for family purposes. Offshore foundations can be used in combination with offshore companies to maximize privacy, business confidentiality and to protect assets, accumulate and manage wealth. Offshore foundations need a founder who can be a person, group of persons or corporations. Offshore foundations are legal entities ... Read More »

Wealth protection situation

SITUATION: Mr. John has three companies in his country of residency. Those companies have different activities in Romania and Italy. He also owns three real estate properties in his residency country worth over 3 million Euro each. Mr. John contacted several personal loans a few years ago. Lately he has not been able to pay it and he is currently in default risk.  The monthly income from properties and his companies is not enough to cover all the costs, because of the market situation. He thought also to sell one of the properties but since he wasn't able to get the right price seems not to be a solution for the moment. Therefore he will risk entering in enforcement procedure and loose maybe all his property or affect companies' activity. PROBLEM: Mr. John needs to protect his assets and his companies' ... Read More »