Holding company to mitigate country wide risk

[afu]

Hello,

This is my first post here. I live in Brazil even though I am not Brazilian. I hold two nationalities, one from Latin America (not Brazilian) and another from Europe. I am evaluating the possibility of creating a company to open a bank account offshore. I would like a reputable place, where the money is secure and that in a situation of crisis cannot be taken by the gov as it already happened to me in the past. From my research this is what is called a holding company. So it will hold these savings.

From what I have read so far it seems that the following locations could be interesting:
- Paraguay (for obvious reasons, it is "near" where I live)
- Swiss
- Malta
- Estonia
- Gibraltar

My main concern is banking from far away and the costs of this structure. Any advice please? What would be the major aspects to be taken into account when creating this company?

Thanks you very much.

 

[lory]

No holding company can help you if the Gov is looking for prey - What you can look into is Gold storage, ETF's (not that secure) crypto stable coins and other luxury stuff.

Second best if holding and bank account, the UK, Ireland, Switzerland are to look into.

 

[CyprusLawyer101]

Cyprus company is a good option too! It also taxes 0% on trading in stocks andnothwr securities, which makes it ideal for a holding of investments/cash vehicle.

 

[afu]

Thank you both. I went through dictatorship when I was a child. I saw my mom lose all her savings when the president decided to take over several banks so that left an imprint in myself. Furthermore it happened already here in Brazil as in other Latin American counties. Every now and then a dictator steps up and screws people badly. That is what I would like to avoid.

I don't think repatriation of assets is a huge risk (even though it could potentially happen) but countries that do not have any type of agreement with Brazil might be safer. What do you think? If yes, any recommendations? How do I find these countries out?

Furthermore, that money appears on my TAX declaration (everything is 100% legal), is there a risk if hypothetically speaking the gov would eventually try to confiscate that? If I understood correctly, when I open an offshore company that holds that money, then the money will no longer appear on the TAX as money but rather as shares on that company abroad, so would that reduce the risk of hypothetical confiscation or not?

Thanks a lot for your insights.

 

[369]

forget about

malta
cyprus
estonia
gibraltar


swiss is expensiv

GL

 

[Sols]

Cyprus is quite good for this but banking can be difficult. Make sure you work with a good service provider that has good banking connections.

Another jurisdictions to look into would be Isle of Man. It's still relatively easy to open a bank account for an Isle of Man company if the company is controlled by a local nominee director, the origin of funds is clean, and you can deposit at least 100,000 EUR/GBP/USD.

Brazil cannot confiscate money held outside of Brazil nor does Brazil have any meaningful political influence outside of Latin America. The only thing to watch out for is to not bank with overseas branches or subsidiaries of Brazilian banks like Itaú and Bradesco. And don't break any laws.

You still need to pay taxes, though. You cannot escape taxes this way. What you control is is how much of the money is sent to Brazil and thereby exposed to Brazilian kleptocracy. Anything that isn't held in BRL or in a Brazilian bank is not within reach of Brazilian authorities. If a bank in Isle of Man or Switzerland or Liechtenstein receives a request from Brazil to seize or transfer your assets, they will throw in the rubbish bin, unless there is something very serious involved (Interpol, local court order).

 

[uplana]

GL

You mean Georgia is the best country in this case? others?

 

[afu]

Thank you all for your feedback and detailed answers. I am learning a lot.

I also would like to know what GL means.

 

[CyprusLawyer101]

Thank you all for your feedback and detailed answers. I am learning a lot.

I also would like to know what GL means.

Will you hold this money as cash in an account or will you be looking to allocate some in any liquid investments like bonds, stocks?