Ball State

» OFFSHORE BANKING, NOT JUST FOR THE SUPER RICH

By China at 8:42 AM

It used to be that only the big wigs knew about the advantages of offshore incorporation, but now it is becoming more and more a common business practice and is serving many benefits for those who are taking advantage of this opportunity.

This completely legal opportunity can be sought out by all, and it is definitely worth looking into it, since offshore banking is a way to protect your assets and personal information. Since no courts have jurisdiction over these types of accounts, the money will remain tax free and no liens or judgments can be placed on these types of accounts. No country in the world, can access these monies or take them from you since no one has any hold over these monies, and yet this is a totally legitimate way to create tax havens and protect your money.

The following are some of the main benefits to asset protection using offshore accounts:

- To keep money from competitors, claimants, ex-spouses, and other parties from whom you wish to keep your business interests private.

- Estate Planning

- To secure your assets against future claims, such as bankruptcy, creditors and judgments.

- Confidentiality

- Reducing Tax Liabilities

- Asset Protection

- Private Foundations and Offshore Protective Trusts for family and other beneficiaries to help them have this money free and clear of income tax, inheritance tax or capital gains taxes.

- To retain more of your own assets for your own uses.

When all is said and done, the government winds up getting about 50% of your money and that is why opening an offshore account is attractive to so many people. Having access to more of the money that you have accumulated, makes this such an attractive option that I often wonder why more people are not doing it. Perhaps it is because they think that they are doing something wrong, but again this is a perfectly legal solution and a great way to protect your assets from judgment, liens and taxes. These types of accounts help protect your privacy while allowing you to have access to your own money at any time.