WHAT IS AN ASSET PROTECTION AND HOW CAN I KEEP ASSETS IN SAFETY?

In addition to offering ultimate consultation privacy, 1st Advisor provides a means to reduce the exposure of your assets to litigation through the use of offshore trusts and companies. So use our comprehensive consulting service in order to benefit from offshore incorporation. 

WHAT IS AN OFFSHORE TRUST?

An asset protection trust is an effective tool by which a person hands ownership and control of his assets to a trusted third party (the 'Trustee') to operate for the benefit of 'Beneficiaries'. This gives the person who 'settles' the trust, known as the 'Settlor' the ability to divest himself of ownership of his assets, with several resulting benefits. This is a very useful vehicle for your corporate or private business that enables you to operate anonymously and without many of the restrictions and tax liabilities involved in "onshore business". An asset protection trust is normally established in an offshore jurisdiction and then The Settlor chooses trustees he can rely upon completely to look after his assets and carry out his wishes for the administration and eventual distribution of the assets. A properly drafted and timely settled trust is normally structured so that they are irrevocable for a term of years and so that the settlor is not a current beneficiary. Even though they are "foreign trusts" we normally structure them so that they are treated as domestic grantor trusts for tax purposes.

WHAT IS AN OFFSHORE COMPANY?

A company is a separate and distinct legal entity that allows the client to remove himself from apparent ownership of the company for trading, asset holding or confidentiality, or other reasons. The ownership of a company is by its shareholders, the control is by its directors. Normally nominee shareholders will be appointed at the time of registration of the company. One of the first actions of the shareholders is to appoint the directors. Choice of location of directors is critical, because the authorities can consider that the company is managed and controlled from the place where the majority of directors live. Assets held by the company are typically inaccessible to an entity that sues the investor. In addition, because the investor's name is not associated with the company on any public record, the company provides an additional layer of privacy. Then the company is operated just like any other company. With IBC structures, there is no public record of the names of the directors, so it is perfectly possible for you to own and operate your own company anonymously.

We will normally offer you to open bank accounts in an offshore location. To open accounts offshore or elsewhere, it may be necessary to have legalised incorporation documents - this means they are verified by a notary and the appropriate embassy. Any Power of Attorney may also need to be legalised to satisfy the bank.

HOW TO OPEN A BANK ACCOUNT IN AN OFFSHORE LOCATION?

Banking and investing through overseas financial institutions has become a matter of necessity for savvy individual investors and companies. So we may suggest a full service European bank, with comprehensive Internet-banking support: instant confidential personal and corporate bank accounts with a highly functional management interface online, ATMcards, investment and savings accounts. It is meant to say everything for convenience-minded customers.

WHAT SHOULD YOU LOOK FOR IN AN OVERSEAS BANK?

The basics are not that much different from the reasons you use to choose your bank at home - service, convenience, and financial stability. Banks should make it easy and convenient to transfer funds globally and be located in countries with stable political situation, friendly to foreign nationals.