Company formation (e-commerce) focusing on asset protection/privacy

[Rogersmith99999]

Hi guys, was advised to post in Gold section for some ideas:

m looking to form a US LLC (probably Wyoming) for protection/anonymity.

Not looking to evade any taxes in home country etc.

The purpose of creating a US LLC would be for protection of assets in the event of any (unlikely) law suits.

One concern is “piercing the corporate veil”, exposing the members of a single person LLC, thus enabling proceedings in home country (UK). Does anybody have any experience with this?

The US LLC would be doing business in the UK/EU, not in the US, if this makes any difference.

Are there any other possible setups in different countries that I should be looking into?

I saw a thread that suggested that a Belize LLC can open a Florida LLC, maybe something along those lines?

 

[Sols]

What assets are you trying to protect and from whom?

Are you sure you need the whole ecommerce business to be in an asset protection structure? Or are you really looking to protect your own wealth (the profits from the company)?

Where do you live?

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This is the probably the answer to your question.

 

[Rogersmith99999]

Sols said:
What assets are you trying to protect and from whom?

Are you sure you need the whole ecommerce business to be in an asset protection structure? Or are you really looking to protect your own wealth (the profits from the company)?

Where do you live?
Click to expand...

Hi Sols,

Assets include houses, cars etc.

Protection would be from being sued for infringement from let's say P&G.. I can buy their products for example from Poland for cheaper than they are in the UK, but they say they're not designed to be sold in the UK. (That's an example and it won't be their products).
After their first sale in the EU/UK, their rights are exhausted and they cannot state where an item can be sold thereafter, but they still may come knocking.

If there's a setup to protect the wealth of the newly formed company with no way of them coming after personal assets, that would be perfect.

I'm a resident of the UK.

 

[EliasIT]

It depends very much on your budget.

Similar setups have already been described very well in around OCT.

Anyway, here comes the short version. Setup a Trust in one of the following countries:

• Cyprus
• Cayman Islands
• Romania
• UK

Let the Trust create a holding company in one of the following countries:

• Switzerland
• Bahamas
• UK
• Netherlands
• Luxembourg
• Lichtenstein

You make sure to use, Trustees, Nominees and to transfer all your assets to the holding company. That has to be done in a legal form where the holding pays for the assets that are moved in, OR, you ask a lawyer and tax advisor to help you move the assets into the holding legally.

The last part is the most important since if you end in court somewhere, they will penetrate the entire structure if you fail to do things correct.

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If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability!
My personal favorite thread posted in the Mentor Group. Group of investment companies to avoid licensing.

 

[ac2124]

EliasIT said:
It depends very much on your budget.

Similar setups have already been described very well in around OCT.

Anyway, here comes the short version. Setup a Trust in one of the following countries:

• Cyprus
• Cayman Islands
• Romania
• UK

Let the Trust create a holding company in one of the following countries:

• Switzerland
• Bahamas
• UK
• Netherlands
• Luxembourg
• Lichtenstein

You make sure to use, Trustees, Nominees and to transfer all your assets to the holding company. That has to be done in a legal form where the holding pays for the assets that are moved in, OR, you ask a lawyer and tax advisor to help you move the assets into the holding legally.

The last part is the most important since if you end in court somewhere, they will penetrate the entire structure if you fail to do things correct.
Click to expand...

What do you think is the most cost effective structure?

 

[EliasIT]

I believe it's the UK and Romania in some sort of combination.

Toggle signature
If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability!
My personal favorite thread posted in the Mentor Group. Group of investment companies to avoid licensing.

 

[Sols]

Rogersmith99999 said:
Assets include houses, cars etc.
Click to expand...

You have different options for different types of assets. No blanket solution is going to protect them all.

UK property can be owned through foreign companies, whereas that's trickier for cars.

Rogersmith99999 said:
Protection would be from being sued for infringement from let's say P&G.. I can buy their products for example from Poland for cheaper than they are in the UK, but they say they're not designed to be sold in the UK. (That's an example and it won't be their products).
Click to expand...

What are you infringing on? Trademarks?

Depending on type and severity of infringement, it isn't necessarily you as a person who is liable.

Rogersmith99999 said:
After their first sale in the EU/UK, their rights are exhausted and they cannot state where an item can be sold thereafter, but they still may come knocking.
Click to expand...

And do what? Is the risk that they would sue you personally for actions taken by your company?

I think that comes back to assessing where exactly the liability lies.

Rogersmith99999 said:
I'm a resident of the UK.
Click to expand...

If you haven't already, the first step would be to speak with a good UK-based IP rights lawyer to understand what risks you are taking. They might also be able to help you with some low-hanging fruits for asset protection or refer you to others who specialize in setting up the necessary structures.

Once you have a clear picture of the risks, you can go to specialized lawyers or to corporate service providers/trustees like Vistra, Trident Trust, Sovereign, Ocra, or Sovereign and work something out.

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