Asset Protection

High net worth individuals have more to think about, losing it all!

High net worth people are at risk from being sued by any third party for negligence, malpractice or anything else they can think of! It only takes one legal action to be successful, even just partially, and you risk losing your assets. The answer is to arrange your affairs in such a way that your assets are not exposed to such risk, hence we turn to offshore solutions because in this way, we can take ownership of the assets away from you personally and outside the United Kingdom.

Trusts, separate legal entities

Not personally owned therefore not your personal tax liability either>:

  • Foreign asset-protection trusts
    • A trust is setup in another jurisdiction
    • You become the Settlor or creator of the trust
    • You sell the assets to the trust at an agreed value
    • The trust then becomes the legal owner of those assets
    • You have successfully separated yourself from the assets
    • You maintain control of the assets as the Settlor of the trust

The UK Government does it

So it must be 'legal and above board'

  • Fraudulent transfer laws
    • There are various transfer pricing considerations
    • Asset shifting within approx 10 years may be a consideration
  • Foreign trust protector services
    • The trust requires a Trustee [usually a lawyer]
    • The trustee is effectively your nominee
  • Foreign corporations & IBCs
    • International business corporations that do not trade in the place where they were incorporated
  • Foreign asset and tax havens
    • Isle of Man
      • With-holding tax since January 2005
    • Jersey & Guernsey [Channel Islands]
      • Banking secrecy eroded
    • Switzerland
      • Banking secrecy eroded
    • Luxembourg
      • Banking secrecy eroded
    • Leichtenstein
      • Banking secrecy eroded
    • Cayman Islands
      • Information exchange by the banks with IRS & US government
    • Bahamas
      • Information exchange by the banks with IRS & US government
    • British Virgin Islands
      • Information exchange by banks with UK government
  • Low cost domestic protection
    • Professional Indemnity Insurance