Deciding how to protect assets can be a complicated decision. On one hand, a person must assess his or her own comfort level regarding risk. On the other hand, a person may not be familiar with all of the various types of protection strategies. For example, one strategy that may not be part of a traditional portfolio is having a foreign bank account. Having a bank account in another country offers many benefits and can be a profitable investment.
Individuals who have larger amounts of assets to protect are often concerned with preserving funds for their children and future generations. Several investment options are employable for this goal. One particular type of investment for an individual to consider is a Dynasty Trust. This type of investment tool is designed to protect and preserve wealth for a person's progeny.
People who have more than $250,000 in assets should seek the guidance of a business attorney and/or a certified public accountant who is well versed in international tax law and other foreign regulatory matters.
International Business Companies, or IBCs, are corporate structures. They can be used for any kind of business, including investment businesses for passive investments or an active business that involves a trade, profession or service.
Using foreign currencies to protect your assets has long been a favorite option of investors. Wealthy individuals use this diversification tactic to protect their properties from the possible value fluctuations of the U.S. dollar. While there's no magic percentage or ideal currency to invest in, there are definitely a few basic ideas that you can adhere to that make holding foreign currency a bit more sound.
Have you ever wanted to fold up a bar of gold like a piece of paper and put it in your pocket or file it away for a rainy day? While foldable gold isn't exactly that simple, the basic concept is remarkably similar as a means for asset protection. Foldable gold provides an easy way to store, hold and transport gold without having to carry around heavy metals.
When Facebook co-founder Eduardo Saverin announced in 2011 his intention to renounce his United States citizenship, the financial news media speculated on the young Brazilian-born entrepreneur's decision and its potential effect on taxation of his $2.2 billion net worth.
One of the most important aspects of accumulating significant wealth is the protection of your assets. Many wealthy families today prefer to have complete control over their financial affairs. If your portfolio is worth over $10 million, a foreign family office may be the best strategy for you.
Family foundations are legal structures found in civil law that can be used for the purpose of generational wealth preservation and asset protection. They are not part of the common law system although they share some similarity with dynasty trusts in the United States. These asset-holding, legal entities differ from common law trusts in the sense that they offer greater flexibility in terms of structure and function.
Individuals who are looking for an effective strategy that utilizes international law for asset protection may want to consider acquiring a foreign residency. Taking this step can provide many benefits.