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Best way to protect company owned assets

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Reawake

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Jul 12, 2023
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Hi all,

I sold the assets of my main company, and now I have nearly 1M in the company account.
Besides this company, I have another LE, which has around 150k in the bank account. Both LEs are registered in Germany.

I have no use case for these funds right now, but I would like to find a solution to keep them protected for the future from possible liability to third parties. This would save me some sleepless nights.
Is there anything you can recommend? I need to be in Germany from time to time, so just take the money and run is unfortunately no option.

Apart from this, which methods would you recommend for protecting financial assets which are already in my personal possession?
I was considering keeping something in cash, something in physical gold and maybe something in crypto. What is the current situation about keeping some funds in a bank which is not participating in CRS? Any bank you can recommend? What are expected costs?

Thanks a lot in advance
 
That's what I was afraid of. Do you have any advice on how to deal‌ with the company funds to keep them protected?
 
you already found the key to your‌ solution. This is how you want to do it if you don't trust the bank‍ with your money!
 
Theoretically correct, but I do not achieve the protective effect that I am aiming for.

Perhaps I have not described my “problem” clearly enough.

When I sold the assets, I had‌ to give a catalog of guarantees for which, in the event of a breach, both‍ my company and I are personally liable without restriction.

Whether a breach occurs or becomes⁠ known, I can only have indirect influence, as at the present time I am not⁤ aware that I would breach any warranty.

I am absolutely aware that my construct that⁣ a liability case occurs and I lose everything represents the worst-case scenario. Nevertheless, I would⁢ like to make possible precautions so that in the case of the case by the︀ creditors, no access can take place. Actually, there is only one way, the money must︁ be transferred out of the company to a place where possible creditors have no access︂ to it.

One possibility would be to pay out the money to me personally, but︃ the problem is that A) it would be difficult to pay out such a large︄ amount in a reasonable period of time B) in the end only half of it︅ would be left due to taxation.

I have absolutely no concern with taxing the money︆ as soon as I need it privately, but as long as I do, I would︇ like to use the whole amount for investments.

Therefore, as far as I know, the︈ only option would be to transfer the amount by some means to a company (outside︉ EU) to which access is impossible.
However, I do not know how I could proceed︊ in concrete terms. Founding an Offshore-Company might not be the biggest issue, but how to︋ get the money there? Do you have any suggestions?

Yea, I have already read about it... unbelievable.
 
Actually, I totally trust the bank. It's just that in case of liability, the government⁠ can get access to the bank account, freeze the money or seize it.

Just for⁤ clarification... I am not doing any kind of illegal or gray-zone business. I just want⁣ to find ways for asset-protection without the need to wait 5 – 10 years until⁢ the “protection effect” takes place.
 
Just so I get this straight: you are afraid⁠ for your funds' safety and then you want to go to a (probably 3rd-world-shithole) bank⁤ that doesn't participate in CRS? And You want to put your money in ponzi-magic-crypto-coin and⁣ in useless-Yellow-metal?

I think you need to look at historical performance of all the assets⁢ you wrote, and do some honest due-dilligence on all your options. There is nothing safe︀ in Gold, you still need to store it and trust whoever it is that stores︁ it for you. There is nothing safe about crypto, it can be stolen in a︂ nano-second, faster than Gold (or you can just fall down the stairs and forget your︃ pass phrase...). Or in the 'best' case it can just crash -90%.

Don't fall for︄ the doom and gloom.
 
Protection from what? What have you done that they can come after you for? What‌ risks do you face?
 
It's about protecting myself in the extreme case. Let's assume︃ that in the future there will be a lawsuit about something, which will result in︄ a claim for the other side, whereby I would theoretically lose everything. In this case,︅ it would be a great advantage to still have funds in places that no one︆ knows about or suspects. I would never have thought of investing large sums in s**t-coins,︇ but rather in stablecoins which give me a buffer in case of emergency. Gold may︈ not be an investment that promises a high return, but it is anonymous and relatively︉ easy to liquidate if necessary.

You always have risks when running a business, and there's also always a risk of going︋ bankrupt.

In this concrete case, I gave guarantees to the buyer for the assets I︌ sold. Here's an example to make it easier for you guys to understand: Let's say︍ the sold assets are including a brand and the brand has a total worth of︎ 500k of the assets sold. Someday, some issues arise I never thought about and the️ brand cannot operate anymore. By this time, the brand was not only worth 500k anymore‌ but now 1.5M. Let's assume the reason the brand cannot operate anymore is covered by‍ a misrepresentation of my guarantees. This means I have to cover the whole damage that⁠ occurred.

I know it's a very abstract example, but we have tons of rules and⁤ regulations in Germany. You can never be sure you did everything right in the past.⁣ Consequences can be very fatal.
 
Well, basically they cannot. But they can trace the money I‍ spent on it with my company, and then I cannot simply say "I lost the⁠ gold, someone stole the cash, I'm a gambler, blabla". This might work in some way⁤ with private capital, but not for business capital. It would be a shortcut to jail,⁣ for sure.
 
Reawake said:
Reawake said:
Well, basically they cannot. But they can trace the money I spent on it with my company, and then I cannot simply say "I lost the gold, someone stole the cash, I'm a gambler, blabla". This might work in some way with private capital, but not for business capital. It would be a shortcut to jail, for sure.
Click to expand...
Click to expand...
there is no legal way to protect something against those who make/apply/control/interpret the laws. Your property is really safe only if it is beyond physical reach.

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#Bingo! Truer words have NEVER been spoken!

@Reawake , your handle already implies you⁠ woke up AGAIN... This time I hope you wake up in our REDPILLED world! 😉
 
Talk to a lawyer who specializes in asset protection.
Something like a foundation (probably in‌ Liechtenstein) or a holding company might make sense.
Look up Gierhake,. As far as I‍ know, he is not a lawyer, but I believe he is very popular in Germany⁠ and has also written books on asset protection. He specializes in Liechtenstein foundations though -⁤ maybe check other options as well to make sure you understand different alternatives.
 
That's very stupid. Now your only possible option is⁠ to move your assets into another company without such a guarantee! You can either do⁤ that by invoicing your current company from the new one (I would set this up⁣ in Cyprus, Switzerland or UAE) and move money that way to later buy the mentioned⁢ assets or you move current assets into the new one by paying the market price︀ for it.

Anyway, you have made a bad mistake with the guarantee, but I know,︁ sometimes you have no choice as an entrepreneur!
 
Yea, that's also the plan, I just think most of the lawyers⁢ cannot speak openly about gray-zone-options. Gierhake might be a suitable alternative here, thanks for the︀ tip!

Theoretically creating a foundation can be an option, practically it's not that easy as︁ the German legislators thought about numerous cases. Donations to a foundation can be revolved up︂ to 4 years in case of bankrupt or liability.

I know giving guarantees can break your neck, and that's why I'm facing this︊ situation right now. Unfortunately, there's in most cases no other choice if you want to︋ sell assets in a specific value range.

The invoicing sounds good, but how can I︌ move that amount of money by invoicing? I guess it must be something like consulting︍ or other services no one can retrace.

What do you mean with:
? The only thing I need to protect‌ is the money which is currently in the company's bank account. The rest actually doesn't‍ matter.
 
I believe Liechtenstein may protect you there, but‍ I'm no expert. A German court ruling may not be relevant in Liechtenstein.
 
You've got︅ them in the bank, when the central bank of Germany is openly insolvent?

Have a︆ look at Cyprus and bail in's.

Gold has lost 4% against spending power year on year since︈ 2013, S&P500 is flat, Nasdaq is 6% PA (+), Crypto is exponentially more (tech =︉ Blockchain, AI, Green etc) will provide the productivity requirement that is counter to the decline︊ in productivity caused by demographics + debt re-folding within the 3 yr financial cycles.
 
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