The easiest way to protect your assets is by offshore trust formation. Putting up a foreign trust keeps your money far from the reach of future creditors and can save your beneficiaries a lot of money in tax savings. Offshore trust formation is also an excellent way to preserve wealth. With proper management and set up, you may be able to shield your assets from taxation or at least reduce the overall tax burden on the assets by obtaining proper tax advice and then setting up and ensuring the trust is thereafter operated according to the advice.
Offshore trusts can also be an efficient tax planning tool, protecting your assets from capital gains taxes, income taxes and inheritance taxes. Aside from this, it is also a great way to protect properties and monies from financial risks that can be caused by unstable markets, domestic political instability, and other uncertainties that may threaten the state of your assets.
Foundations are similar to a trust and can be classified as charitable or non-charitable entities, giving them a legal personality to act as the owner of the properties or assets held in the foundation. This allows the foundation or charity to enter into third party agreements, as well as create and open bank accounts. Trusts and foundations are easy to set up; they can be done in a matter of days for affordable rates and can be structured to your specific needs. Different assets can be put up in a trust or foundation—including stocks and shares, intellectual property, real estate, and so on. Individuals often use trusts and foundations as a means to manage assets for the future generations of their family. Offshore trusts in particular can also be used by companies as a form of employee benefit scheme for company stocks and shares, as insurance plans, or as an employee retirement or pension plan.
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