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?

Toggle signature

>> Unlock the Power of OffshoreCorpTalk: Become a Member of the Mentor Group Gold <<​

Latest Video Interviews, Offshore Company Resources, Payment Processing Tips & Tricks, Articles and Anonymity Hints only a click away!
Support the Freedom of Speech of our Community

Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.​

 

[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.

Toggle signature
This is the probably the answer to your question.

 

[369]

James Spader said:
How about banking, are you sure it is possible?
Click to expand...

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]

369 said:
Yes no CRS reporting.
Click to expand...

Source for this claim please.

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

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

 

[369]

Sols said:
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.
Click to expand...

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?

Toggle signature

@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields​