Asset protection using a foreign trust as US citizen - where to put bank accounts?

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wheelspin

New member
Hello folks,

more a theoretical question that comes to my mind. Let's assume we have a US citizen, living in the US with an amassed amount of money >$ 40m.

Only for asset protection, not for tax evasion, he plans to set up a trust in jurisdictions like Nevis, CI, or Jersey. The trust holds a Nevis LLC (as holding) that in turn holds multiple domestic (brokerage accounts) and some foreign LLCs (real estate purpose). All LLCs distribute their gains to the holding and therefore to the beneficiaries with proper reporting under FATCA. Beneficiaries pay taxes in their state on capital gains, dividends, and more.

To which entities do you link the bank accounts? At the lowest level to the LLC in the US or do you go a route with banks alike abroad?

On top of that, beneficiaries hold some domestic bank accounts for daily transactions and to receive dividends or profits from sold shares through one banking LLC.

Have a great weekend!
 

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