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Asset preservation options

Mr Magoo

Active Member
Sep 3, 2018
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Due to all the changes in the offshore world lately, I decided not to use my Belize IBC anymore for business transactions. Since there are still considerable assets on the accounts of this IBC, I wondered what the best action to take would be with the purpose of holding/preserving the assets:
  • setup an offshore foundation with access to better banking
  • setup a company in another jurisdiction with access to better banking
  • leave the assets on the IBC
 
I wondered what the best action to take would be with the purpose of holding/preserving the assets:

Depends what you are trying to preserve the assets against? ns2
 
I mainly want to preserve my assets against a government wanting to take it for some reason (tax). Also not sure if the bank where I hold the assets will be fine with the fact that no more income will come into the account via the IBC since I stopped using it for this purpose. AI dont want my self finding without banking options for the IBC if the net closes more on BZ IBC's.
 
I think while creating a Foundation is an option, this is unlikely to result in better banking or more banking options. Retaining them in the IBC seems not to be an option for you so I would suggest incorporating in a different location which is more acceptable to banks and transferring the assets into the new entity. How difficult this is will depend what the assets are.