Safety

[tongyun]

How safe are offshore businesses? What rights and guarantees does a person have when setting up an offshore business and what kind of protections are in place for the individual?

Last edited by a moderator: Mar 4, 2009

 

[SysOp]

It is very safe; I read on some website that a dentist was protected by an offshore company for his assets while he made some "mistake" with one of his patient.


I do not honour this but at least it showed that you have a 100% protection against creditors.


The beneficial owner of an Offshore Company has 100% protection and can't be held responsible for any liabilities on behave of the company, the difference here to a regular LTD / LLC in your local country is that the authorities have a hard time to break through the secrecy and owner protection Offshore jurisdictions give the owner of a Offshore Company.

 

[unknown]

It is very safe; I read on some website that a dentist was protected by‌ an offshore company for his assets while he made some "mistake" with one of his‍ patient.

I do not honour this but at least it showed that you have a⁠ 100% protection against creditors.

The beneficial owner of an Offshore Company has 100% protection and⁤ can't be held responsible for any liabilities on behave of the company, the difference here⁣ to a regular LTD / LLC in your local country is that the authorities have⁢ a hard time to break through the secrecy and owner protection Offshore jurisdictions give the︀ owner of a Offshore Company.

 

[Lumber Joe]

What do you mean under safety? Risk of expropriation from the government or what?

 

[SysOp]

Lumber Joe said:
What do you mean under safety? Risk of expropriation from the government or what?
Click to expand...

Yes it was what I ment.

 

[unknown]

Yes it was what I ment.

 

[Lumber Joe]

In that sense offshore‌ business is highly secure. Governments of offshore banking centers work hard on establishing good image‍ of their country. They would never risk to expropriate anything.

 

[cherokeeflyer]

My concern has always been a change in government, even⁠ a coup, when it comes to some of the Caribbean Islands.

From what I have⁤ researched, the safety has actually been very high and there are even ways to structure⁣ things where funds would be instantly moved to another country if Government instability became an⁢ issue.