How to network in the offshore services space?

[forbidd3nknowl3dg3]

Hey everyone

I hope my threads are not annoying people too much haha. This should be my last thread for quite a while lol..

I've mentioned in my previous threads that I am a junior associate lawyer who is interested in entering the offshore services space as an entrepreneur. Aside from gaining the requisite knowledge and experience with offshore structures (which I understand is the most important asset one can posses when entering the industry), I wanted to ask if some posters could provide advice on how to form professional intermediary relationships with other service providers and registered agents. I understand that the offshore services industry functions via networks of intermediaries and registered agents, but I have no clue about how to go about forming these relationships.

How does one go about forming these relationships? I've been told that a lot of relevant intermediaries/registered agents are local lawyers and accountants. Must one travel to these locations to make these connections? Or can they be built over the internet? Are they mostly built via conferences and industry- related get-togethers like STEP and ITPA? Can anyone offer some advice about networking with other service providers?

Thanks again all

 

[JohnLocke]

It is very different how to do. Sometimes you can make an appointment solely by email and other times it requires a personal meeting.

During the many years I have been involved in this, I have learned that it can often pay off to meet the person. Sometimes something comes out you otherwise would not have been told.

 

[clemens]

Sometimes something comes out you otherwise would not have been told.

same concept of mentor group gold I believe.

 

[forbidd3nknowl3dg3]

It is very different how to do. Sometimes you can make an appointment solely by email and other times it requires a personal meeting.

During the many years I have been involved in this, I have learned that it can often pay off to meet the person. Sometimes something comes out you otherwise would not have been told.

Thanks for the recommendation James.

So I will need to reach out to other offshore service providers located on scene in the particular offshore jurisdiction that I would like to set up structures in? Should I make sure that these service providers are registered agents in that particular jurisdiction? I have found a number of firms that advertise professional intermediary relationships on their website. Should I wait to reach out to these providers or should I be proactive and reach out well before I have set up my business?

Also, would a mentor group gold membership help me establish these intermediary relationships?

same concept of mentor group gold I believe.

Can you expand on this a bit?

 

[uplana]

You are a fool thinking that OCT is only visited by noobs, amateurs and tax evaders. You are blind in regards to business networking and that's why you will fail in real life.

 

[forbidd3nknowl3dg3]

You are a fool thinking that OCT is only visited by noobs, amateurs and tax evaders. You are blind in regards to business networking and that's why you will fail in real life.

lol... ok....

 

[Sols]

It's like networking in any industry. Dive into it, get involved, and combine own research with speaking with people. Identify and attend conferences.

If you want to get started reselling services, speak with the major service providers (they often have reseller solutions) and smaller local service providers in the interesting jurisdictions (they will appreciate the additional business).

 

[forbidd3nknowl3dg3]

It's like networking in any industry. Dive into it, get involved, and combine own research with speaking with people. Identify and attend conferences.

If you want to get started reselling services, speak with the major service providers (they often have reseller solutions) and smaller local service providers in the interesting jurisdictions (they will appreciate the additional business).

Thanks a million for this Sols!

I was leaning towards not reaching out to the major service providers under the assumption that they wouldn't value the business of a small start-up. Glad that you informed me otherwise. Do you think it will be received well if I contact a service provider without having an established business? I can tell that there is a lot of paranoia in this sector (referring to the above comment from uplana).

Do you have any suggestions in how I reach out? I'm not asking to be spoon fed here, although I understand that I might be coming off as such. This is an industry that I am very interested in, but actually learning how it works and getting engaged is no easy task (for a plethora of reasons, unwarranted suspicion and paranoia being high on that list).

 

[Sols]

I was leaning towards not reaching out to the major service providers under the assumption that they wouldn't value the business of a small start-up. Glad that you informed me otherwise.

The big ones got big in no small part by having agents/resellers. They are a little more selective nowadays, but if you've passed the bar and are a lawyer, you're already way ahead of most people who want to make a quick buck selling offshore companies left and right.

Do you think it will be received well if I contact a service provider without having an established business? I can tell that there is a lot of paranoia in this sector (referring to the above comment from uplana).

It's all business and negotiations. Approach them with expectations that you have existing clients and you expect between 5 and 10 of them will want whatever services it is you plan to resell in the first year. Once you're in and your first client is signed, you're in.

 

[forbidd3nknowl3dg3]

If you want to get started reselling services, speak with the major service providers (they often have reseller solutions) and smaller local service providers in the interesting jurisdictions (they will appreciate the additional business).

I actually haven't heard of reselling. Does it refer to reselling corps originally registered and managed by another service provider? Does it apply to other entities/arrangements besides corps? Also, what exactly does it mean to be an agent of another service provider?

Sorry for the influx of questions here Sols, but I think you definitely pointed me in the right direction (which is what I was looking for by creating this thread!). Thank you very much!

The big ones got big in no small part by having agents/resellers. They are a little more selective nowadays, but if you've passed the bar and are a lawyer, you're already way ahead of most people who want to make a quick buck selling offshore companies left and right.

Is there a difference between reselling relationships and professional intermediary relationships? My core interest is in creating and administering offshore asset protection structures for my clients, not merely reselling corps registered by other service providers.

 

[Sols]

I actually haven't heard of reselling. Does it refer to reselling corps originally registered and managed by another service provider? Does it apply to other entities/arrangements besides corps? Also, what exactly does it mean to be an agent of another service provider?

Intermediary, agent, reseller - it's all the same. What you're doing is selling someone else's services, which can be practically everything that the underlying service provider does.

Is there a difference between reselling relationships and professional intermediary relationships? My core interest is in creating and administering offshore asset protection structures for my clients, not merely reselling corps registered by other service providers.

If you want to be the one administering, you need to become a licensed/authorized trustee, fiduciary, or similar in the jurisdiction where you want to manage the assets. Check with your local financial services authority how that works.

If you want to manage offshore (not where you live), look into transferring your skills and yourself physically over to your preferred jurisdiction (or hire people locally there and manage them remotely).

I believe most people get started by working at a service provider and then moving on to starting their own firm after 5–10+ years of experience.

 

[forbidd3nknowl3dg3]

If you want to be the one administering, you need to become a licensed/authorized trustee, fiduciary, or similar in the jurisdiction where you want to manage the assets. Check with your local financial services authority how that works.

If you want to manage offshore (not where you live), look into transferring your skills and yourself physically over to your preferred jurisdiction (or hire people locally there and manage them remotely).

I believe most people get started by working at a service provider and then moving on to starting their own firm after 5–10+ years of experience.

I think I misspoke. From some of the service providers I have found online (advertising for the formation of intermediary partnerships), their websites state that they manage/administer offshore structures on behalf of other service providers (located in other parts of the world) who work for the end-user client. I can show you examples in a PM. I've also read about some examples in my country (Canada) of businesses specializing in asset protection (mostly set up by ex-lawyers) that engage other offshore service providers in tax havens who set up/manage structures on behalf of the aforementioned service providers in North America or Europe. Would these business arrangements still be considered reselling?

Are you familiar with the distinction between specialized and universal service providers? I found this short description on one of Fidelity Corporate Service's websites and found it very helpful. (Universal offshore services providers). My ultimate goal is to set up a universal service provider which specializes in asset protection, which is why I am curious about how to make the necessary contacts and relationships.

Forgive me for keeping this thread going for longer than is warranted. Please, if you have the time and do not mind, send me a PM. I would love to continue this conversation.

 

[JohnnyDoe]

I am curious to know how you can think to succeed in such an ambitious plan if you are not willing to partner with anyone

 

[forbidd3nknowl3dg3]

I am curious to know how you can think to succeed in such an ambitious plan if you are not willing to partner with anyone

Hmmm... Sorry Johnny, but I usually do not sign NDA's and NCA's with people I have only met and interacted with on forums. Feel free to discuss your business ideas with me though. I am indeed looking to form business relationships in this space for the medium to long term.

 

[KDX]

Hmmm... Sorry Johnny, but I usually do not sign NDA's and NCA's with people I have only met and interacted with on forums. Feel free to discuss your business ideas with me though. I am indeed looking to form business relationships in this space for the medium to long term.

You are being very arrogant. I suggest you go look around OCT. The people here are not idiots and have the same amount of knowledge as the next "licensed" this and that. There are people with REAL LIFE EXPERIENCE with running and maintaining these different structures and living in different jurisdictions with different applicable laws. These are not just small fish here. there are a few HNWI+ active here and a you can see every now and then a few new drop in for advice.

I suggest you study the forums and the offshore space for a few months. It doesn't hurt to do that and if you have the brains for the job you should quickly become familiar with everything.

 

[forbidd3nknowl3dg3]

You are being very arrogant. I suggest you go look around OCT. The people here are not idiots and have the same amount of knowledge as the next "licensed" this and that. There are people with REAL LIFE EXPERIENCE with running and maintaining these different structures and living in different jurisdictions with different applicable laws. These are not just small fish here. there are a few HNWI+ active here and a you can see every now and then a few new drop in for advice.

I suggest you study the forums and the offshore space for a few months. It doesn't hurt to do that and if you have the brains for the job you should quickly become familiar with everything.

I am here to learn. That's it. If I can make a few connections along the way, all the better. Your comment about being the next "licensed this and that" reveals your own insecurities. Don't put that on me.

Sorry for not being willing to sign an NDA and NCA with someone I do not know lol. Would you do so? Also, sorry for responding politely to being told I will fail, both privately and in the public forum. This will be my only response to your comment. Goodbye and please don't respond back if you do not have anything useful to contribute to the purpose of the thread.

 

[Simon4466]

Hey everyone

I hope my threads are not annoying people too much haha. This should be my last thread for quite a while lol..

I've mentioned in my previous threads that I am a junior associate lawyer who is interested in entering the offshore services space as an entrepreneur. Aside from gaining the requisite knowledge and experience with offshore structures (which I understand is the most important asset one can posses when entering the industry), I wanted to ask if some posters could provide advice on how to form professional intermediary relationships with other service providers and registered agents. I understand that the offshore services industry functions via networks of intermediaries and registered agents, but I have no clue about how to go about forming these relationships.

How does one go about forming these relationships? I've been told that a lot of relevant intermediaries/registered agents are local lawyers and accountants. Must one travel to these locations to make these connections? Or can they be built over the internet? Are they mostly built via conferences and industry- related get-togethers like STEP and ITPA? Can anyone offer some advice about networking with other service providers?

Thanks again all

What are you looking for?

Seems like you're more helped by relevant experience (e.g. gained by working at a corporate services provider for a few years) than just having a list of contacts at this point.
Also as you're still very young, this might be the best course of action. First see how the business works, then you can decide if it actually is something for you. Also, without any relevant experience I think that it'll also be more difficult to start as an entrepreneur in this space (no contacts, more difficulties in getting relevant licenses, finding partners etc.).

I would contact some corporate services providers which are active in your area, doesn't matter if they're not big. You will learn more at the smaller firms than the bigger ones (less compartmentalized).

 

[forbidd3nknowl3dg3]

I would contact some corporate services providers which are active in your area, doesn't matter if they're not big. You will learn more at the smaller firms than the bigger ones (less compartmentalized).

That would be very, very much appreciated! Although I don't believe there are any corporate service providers in my area that sell foreign corps. From what I've seen it is mostly internal corps/businesses (LPs, LLPS, and ULCs) focused mostly on specific provinces (Ontario, BC, Alberta). Send me a PM as I think this would probably be more appropriate to discuss privately.

By creating this thread, I was really just looking for advice on how to enter the offshore services space as an entrepreneur (hence the questions on how to go about establishing professional intermediary relationships). I've been studying asset protection strategies since 1L of law school, so it's been an interest of mine for awhile. After getting tired of researching OAPTs and DAPTs on Heinonline or Legal Source lol, I decided to come on here and see if I could get information and advice on how to make a business out of all this. Not sure why I'm encountering hostility from some other posters.

Perhaps I am looking for a mentor as well. Call out to Sols --> that guy is awesome!

 

[aage]

I decided to come on here and see if I could get information and advice on how to make a business out of all this. Not sure why I'm encountering hostility from some other posters.

You got a lot of help already. In addition, my personal opinion from reading your thread is that you are a student looking solely for information. You can find all that information you are asking for here on Offshorecorptalk. You are too lazy to find people around or contact them.

More action is required.

 

[KDX]

I am here to learn. That's it. If I can make a few connections along the way, all the better. Your comment about being the next "licensed this and that" reveals your own insecurities. Don't put that on me.

Sorry for not being willing to sign an NDA and NCA with someone I do not know lol. Would you do so? Also, sorry for responding politely to being told I will fail, both privately and in the public forum. This will be my only response to your comment. Goodbye and please don't respond back if you do not have anything useful to contribute to the purpose of the thread.

From the way you speak, I can see that you have quite an arrogant attitude, instead of a humble and "here to learn" attitude. Seeing you reply with things like "reveals your own insecurities" is really funny. I also don't know what you mean by "both privately and in the public forum", I only sent that one reply which is here for everyone to see?

Anyways, I don't know what your intention is here. You seem to be dismissing most of the members here who have been involved in the offshore industry for a long time instead of taking a humble approach and only being satisfied when someone tells you stuff like "Contact local CSPs" which I don't get at all? You are so satisfied when someone tells you some of the most simple common sense things yet you build a reputation of being arrogant and dismissive of the people here? People who by the way are millionaires and have vast networks of their own which you have dismissed here as being amateurs or something. Bravo!