Hi guys,
I'm not sure if this is the correct place for this post, but I'm trying to figure out the best way to structure offshore for my needs. Currently I have a couple offshore companies which I was looking to structure under a holding company (already set up). My main goal is for estate planning purposes, followed by asset protection and of course taxes. I'm looking in to setting up a trust to hold my assets to achieve these goals.
My original plan was to have my main holding company own the shares of each of the smaller companies and the trust to own the shares of the holding company. I'm also now thinking about just having the trust own each company's shares directly however without the need for a holding company.
I am an Australian citizen however I am not a resident for tax purposes (resident in Panama) and currently pay no personal tax. The ultimate beneficiaries in the event of my death however would be Australian residents and might need some flexibility regarding taxes. For this reason I also considered having the holding company as the beneficiary so the ultimate beneficiaries in Australia had some flexibility of dividends to reduce tax.
What are the benefits of each approach? Or is there a better way I've missed? Thanks!
I'm not sure if this is the correct place for this post, but I'm trying to figure out the best way to structure offshore for my needs. Currently I have a couple offshore companies which I was looking to structure under a holding company (already set up). My main goal is for estate planning purposes, followed by asset protection and of course taxes. I'm looking in to setting up a trust to hold my assets to achieve these goals.
My original plan was to have my main holding company own the shares of each of the smaller companies and the trust to own the shares of the holding company. I'm also now thinking about just having the trust own each company's shares directly however without the need for a holding company.
I am an Australian citizen however I am not a resident for tax purposes (resident in Panama) and currently pay no personal tax. The ultimate beneficiaries in the event of my death however would be Australian residents and might need some flexibility regarding taxes. For this reason I also considered having the holding company as the beneficiary so the ultimate beneficiaries in Australia had some flexibility of dividends to reduce tax.
What are the benefits of each approach? Or is there a better way I've missed? Thanks!
