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What is offshore asset protection

Discussion in 'Offshore Business Discussion' started by axelnobel, Dec 1, 2009.

  1. axelnobel

    axelnobel Offshore Agent

    Offshore asset protection means the rendered services for the overseas citizens/businessmen by the offshore bank or financial organization. Financial organizations provide offshore banking to the cosmopolitans in order to make their money transactions safe and confidential. Offshore banking system provides online facilities to conduct financial transactions easier.


    An onshore account holder bears different complexities to carry on his cash transactions for overseas business. For instance:


    1. He has to pay extra charges to transfer money from one country to another.


    2. A large amount of money is spent in term of taxes.


    3. There is risk if his password is hacked.


    4. It is a time consuming process to transfer cash from one place to another.


    5. On the other hand, privacy and confidentiality of his assets may be disturbed in onshore banking.


    6. There is no full time accessibility to account information.


    7. Extra charges have to pay to convert foreign currency to domestic currency.
     
    I'mRobot, cutmetwo and auric like this.
  2. frankslade

    frankslade Offshore Agent

    Hi,


    I really liked the way you have written and i think your way of expressing it all and that to making it so concise is simply brilliant.


    Thanks for sharing the information.


    Regards


    Frank Slade
     
    auric likes this.
  3. dannyarcher

    dannyarcher Offshore Agent

    Hi Axel, thanks for sharing the information, please keep sharin such interesting tips.


    Danny Archer
     
    cutmetwo likes this.
  4. paulburton

    paulburton Offshore Agent

    Hello Friends.....


    A nice post. Thanks for sharing.


    Have a nice time ahead.


    Thanks
     
  5. flora

    flora Offshore Agent

    Hello friends


    Asset protection And more people are filing for Chapter 7 bankruptcy, which liquidates assets to pay off some debts and absolves the filers of others. That is significant because a 2005 overhaul of federal bankruptcy laws aimed to encourage Chapter 13 filings, which force consumers to sign onto debt-repayment plans in exchange for keeping certain assets."


    The Journal also notes: "Overall, personal bankruptcy filings hit 1.41 million last year, up 32% from 2008...It is the highest level of consumer-bankruptcy fillings since 2005. Consumers rushed to file in 2005 before the new bankruptcy laws took effect...Chapter 7 filings were up more than 42% as of November 2009, compared with the same period a year earlier..."


    Thanks to all friends ......


    GRP Mouldings
     
    Last edited by a moderator: Jan 6, 2010
  6. auric

    auric Offshore Agent Trusted Member Mentor Group Sponsor

    It is one of the best methods to secure your funds and other assets for creditor and lenders. Regardless how complicated they make it to register a offshore company then it still is one of the best ways to protect your hard earned money!

    You want to consult and agent that actually knows how to do proper asset protection!
     
  7. cutmetwo

    cutmetwo Member

    It makes sense to keep our money in offshore company setups rather than take the money home?
     
  8. auric

    auric Offshore Agent Trusted Member Mentor Group Sponsor

    Depends how you are going to structure your business. If you trade with your offshore company (as most are doing here) then it would not be a wise decision. However, if you use the offshore corp as an holding you should consider doing so!
     
  9. I'mRobot

    I'mRobot Offshore Agent Investor