Samoa

[369]

So after researching a lot a i guess my final destination for a foundation will be samoa.

Has anyone any negative experience or information about it ?

 

[JohnLocke]

How about banking, are you sure it is possible?

 

[Sols]

Samoa is currently on the EU blacklist, which can be a problem if the Samoa company is involved in business or banking involving EU. If that isn't a concern for you, Samoa is overall a perfectly fine jurisdiction with some specific laws that make it especially useful for asset protection (like the Specified Event clause for companies, ignoring foreign court orders).

If you're still looking for a service provider, Asiaciti is excellent. Vistra and Ocra are also good.

 

[369]

How about banking, are you sure it is possible?

Yes i talked with a consultant and he is able to get me a top notch bank with a samoa foundation.
Like Sols posted high asset protection which is important for me as i consider that foundation as my heritage for my children when they get older and no CRS reporting.

EU is not important for me since i leave all my ties to it anyways

 

[Jerry1911]

Why a foundation and not a trust? Are you sure there will be no CRS reporting?

 

[369]

Yes no CRS reporting.
Why foundation ?Because i don't feel comfortable to not be flexiable to change setup if i have to use a trustee who controls my asset forever.
I can change jurisdiction any time i want very quickly.
This way me or any future administrator i choose can change the setup if needed.
I feel this way more flexible and also the running costs are way lower

 

[Jerry1911]

Yes no CRS reporting.

Source for this claim please.

Because i don't feel comfortable to not be flexiable to change setup if i have to use a trustee who controls my asset.

Fair enough, but you can appoint a protector for this.

 

[369]

Samoa is currently on the EU blacklist, which can be a problem if the Samoa company is involved in business or banking involving EU. If that isn't a concern for you, Samoa is overall a perfectly fine jurisdiction with some specific laws that make it especially useful for asset protection (like the Specified Event clause for companies, ignoring foreign court orders).

If you're still looking for a service provider, Asiaciti is excellent. Vistra and Ocra are also good.

Ocra not doing foundation.
Even Asiaciti has establishment of foundation in samoa on their website the lady from samoa was surprised what i want and that they high probably don't offer it
Anyone has a good contact at asiaciti who could support me to get it done ?

 

[Jerry1911]

Have you established it in the end or not? I'm curious to know how was your experience. @369

 

[JohnnyDoe]

Why prefer Samoa over Nevis?