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Best offshore structure to protect personal asset for EU citizen?

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withouthause

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Dec 11, 2020
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#1
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Hi everybody

I have been thinking to create an offshore company where deposit my personal asset, for the moment it is only stocks in a brokerage account as IBRK. Currently, I live in Thailand. Here I don't have to pay taxes if the incomes are from abroad, and you don't bring it in the same year. So which want could be the cheaper and easy way of offshore company for deposits my asset?

The reason are,
Separate my asset from my person. Protect in case of divorce or any legal problem.
Maybe I will move frequently, so I would like to avoid tax problem or modify my broker address and tax number every time.

Right now the amount is not big 100K USD, but I want to increase it in the future.


Thank you
 
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#3
algotrader said:
Cheapest solution is to spread it across different brokers in different countries. If your assets per country are 10-20k it will be too costly for creditors to pursue it in every country.
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What about the notification of residency and tax residency. I will need to change it every time I move from a country to other country?

Thank you
 
#5
algotrader said:
Yes, unless you want your old tax residency authority to be automatically informed about your wealth increase.
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I understand your point. In that case is better create an offshore company because the taxes will be payed there.
It is Seychelles good option?, as I will not create invoices only put money in the bank account
When I mean cheap I mean no need pay big amount yearly and also no need fill a lot of form. My first thought was llc on wayoming but I need fill tax for non resident
Thank you
 
#6
withouthause said:
Protect in case of divorce or any legal problem.
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In case of divorce: if you aren't married yet, get a prenup before getting married.

You can set up some sort of trust or foundation, which are popular asset protection vehicles. So long as it's done in good faith — usually meaning a few years of good, happy marriage before before a divorce — it usually holds up. Speak with good service providers about it (several listed in similar asset protection related

Any legal problem: too broad to be meaningfully mitigated through asset protection. What legal troubles? Tax evasion, fraud, money laundering, jaywalking, parking tickets, embezzlement?
 
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#7
Sols said:
In case of divorce: if you aren't married yet, get a prenup before getting married.

You can set up some sort of trust or foundation, which are popular asset protection vehicles. So long as it's done in good faith — usually meaning a few years of good, happy marriage before before a divorce — it usually holds up. Speak with good service providers about it (several listed in similar asset protection related

Any legal problem: too broad to be meaningfully mitigated through asset protection. What legal troubles? Tax evasion, fraud, money laundering, jaywalking, parking tickets, embezzlement?
Click to expand...
Legal problem y mean accident and have to pay for civil responsibility ( no common in my country but very common in other) for tax evasion and the other not. Currently, I stop to be tax resident in my home country, but I don't have other tax residency at the moment, at least not tax id. ( i am in Thailand now) but if don't bring money here I don't need to pay taxes.
Also, my idea of open a llc or trust is for no need to modify my broker details every time I move to a new place and have to ask for a new tax residency.

Other point is that is always very recommended that is better don't have anything in your name and better have it thought companies, but maybe my amount of money is still small for that o_O

Thank you for your comment
 
#10
withouthause said:
Hi everybody

I have been thinking to create an offshore company where deposit my personal asset, for the moment it is only stocks in a brokerage account as IBRK. Currently, I live in Thailand. Here I don't have to pay taxes if the incomes are from abroad, and you don't bring it in the same year. So which want could be the cheaper and easy way of offshore company for deposits my asset?

The reason are,
Separate my asset from my person. Protect in case of divorce or any legal problem.
Maybe I will move frequently, so I would like to avoid tax problem or modify my broker address and tax number every time.

Right now the amount is not big 100K USD, but I want to increase it in the future.


Thank you
Click to expand...
Best way is to open a trust, if you need a company you can do it in Hong Kong because there is no requirements for Economic Substance.
 
#11
Hi, thank you for the answer, finally i didn't open it basically for 2 reason. 1 my home country accepted my new fiscal residency and in the country where I live no need to pay taxes for money is not brought here. Also, i didn't have problem to modify my brokerage account to the new place.

Regarding the LLC if I use it only for investment buy sell stock market and get the divided payment of it, must I pay capital gain taxes in the LLC? Plus the cost of pay someone for fill up the form 5472 and 1020 as not us resident.
 
#13
withouthause said:
Hi everybody

I have been thinking to create an offshore company where deposit my personal asset, for the moment it is only stocks in a brokerage account as IBRK. Currently, I live in Thailand. Here I don't have to pay taxes if the incomes are from abroad, and you don't bring it in the same year. So which want could be the cheaper and easy way of offshore company for deposits my asset?

The reason are,
Separate my asset from my person. Protect in case of divorce or any legal problem.
Maybe I will move frequently, so I would like to avoid tax problem or modify my broker address and tax number every time.

Right now the amount is not big 100K USD, but I want to increase it in the future.


Thank you
Click to expand...
Cheap to protect assets and wealth?
Would you take cheap brain surgery? :)

@Gediminas is helping people with structuring and asset protection
 
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