Keeping a Low Profile - The Importance of Transferring Assets Offshore Confidentially

Summary: How do you secure your privacy when moving onshore assets offshore, and why is it important to transfer assets offshore confidentially anyway - your questions answered.

When it comes to asset protection, personal privacy and financial freedom, offshore solutions offer the key to freedom for individuals, companies, corporations and multinational conglomerates alike.

From offshore bank accounts or IBCs to offshore trusts and investments: the solutions to individual privacy, asset protection and tax planning issues are available and within easy reach for us all…

But just how do you secure your privacy when moving onshore assets offshore, and why is it important to transfer assets offshore confidentially anyway?

To simply transfer assets held by your onshore company directly to your shiny new offshore company is careless and unwise.

You will create a permanent onshore record of the location of your offshore assets - such a record is wide open for scrutiny and is quite simply NOT private in any way shape or form. 

By creating such a record you will defeat the entire object of privacy - probably your very reason for moving offshore in the first place…

But wait...by moving offshore I’m not doing anything illegal...so what’s the fuss?

Correct - to move money offshore, to purchase real estate in another country to your own, even to expatriate - all these are legal activities in most countries worldwide. 

However, governments in tax hungry nations worldwide such as the US and UK are keen to blur the line between legal tax mitigation and illegal tax avoidance.

It’s in their best interests to do so because there has been such a significant decline in the tax revenue that these nations have been able to raise, caused directly by international tax planning, that the situation is now so serious these nations employ task forces to clamp down and cripple the free market economy.

The more confusion they create, the fewer people will take advantage of offshore structures and international tax planning opportunities for fear of inadvertently breaking the law, and the more dollars/pounds/euros will stay onshore - i.e., within easy reach of the tax man and within easy reach of the onshore bank manager who wants to ‘use’ your money to fatten his coffers.

It really is that simple!

So, no, you are not doing anything illegal when you choose to move offshore for asset protection purposes for example: BUT it is still prudent - essential even - to tread carefully.

Why?

Because your onshore bank has had it drilled into them that any onshore/offshore activity that looks suspicious MUST be reported forthwith. 

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