Overseas Trust for double protection?

[doyouexist]

Hello,


I read that opening an overseas trust can hep me to protect my privacy and assets. Moreover it can protect my money if something goes from in the trading entities can someone explain how to do that?


Thanks for your help.

 

[JohnLocke]

An overseas trust / offshore trust may indeed help you to achieve your goals but‌ you may need to think about it. Is it worth the money spend on setting‍ up such an entity compared to your profits you're going to generate! If so it's⁠ fine go ahead and get your trust setup but if you are only make a⁤ few thousands a months then I say forget about it!

 

[cosmo]

Something for big players not for the small guy!

 

[JohnLocke]

Here is some information for you to read about overseas trusts https://www.gov.uk/guidance/non-resident-trusts as I find‌ more relevant information I will post it here.

 

[andreas]

An overseas trust is nothing more than a simply offshore trust. You will need to‌ draw a plan on paper to see if you at all need a Trust for‍ your corporate structure and if you have the budget to achieve it.

 

[hasan2]

A Overseas trust is paramount in matters of protecting your privacy and your⁠ funds / assets from lenders and creditors. No one, I repeat, No one will be⁤ able to access your assets & funds if you establish a Trust (you need a⁣ professional to help you) parmount and transfer everything in there!

 

[tonyW]

Where did you get the information about the overseas trust if I may ask you‌ that please? What offshore country is best to get established?

 

[jorge]

You may have read some articles about overseas trust because of the nature of your‌ question but you don't understand what exactly it is you want to establish there! My‍ personal experience is that if you don't know how to use something then you don't⁠ need it.

For 99% of Internet Marketers this is not something they need. An Overseas⁤ trust is a great vehicle if you have large amounts of money available or huge⁣ sums in properties you need to get protected otherwise forget about it.

 

[Aaalister]

Overseas Trust the same as Offshore Trust correct?

 

[happyjohn]

Yes it is the same as an offshore trust typically you look at the establishing‌ of an Trust in an offshore jurisdiction like Cyprus, Seychelles, Panama, Bermuda or even Bahamas.‍

 

[walterz]

Yes of course, but it will works if you have a large amounts of money‌ to use(big scale bussiness). Since it's not good for a small bussiness at all.

 

[Sam anderson]

This is actually true.. The income tax department cannot trace u easily if your account‌ is at overseas

 

[waltercrane]

It's true that they can protect all your privacy. But remember they have a high‌ tax. So consider this if you only have a big business to handle.

 

[johnskywalker]

I think both you and your nominee should sign an Trust Agreement. Since most of‌ the time they are handling your business / bank account, it should be the person‍ who you trust the most but in reality, you can't find someone to give your⁠ 100% trust unless its your friend or your family.

 

[maiden]

I agree with this, That's the first thing to do to start with nominee director and⁤ shareholder. Unless they're your own family/friends that you know well.

 

[TurnedToRobot]

Can someone explain what may be best for a simple structure to protect assets. I‌ need to know if it is better to setup a Seychelles or Cyprus Foundation or‍ just a Trust in Cyprus for a business. Do you have an indication of the⁠ costs maybe?

 

[Anton]

You can have a secured bank account with privacy if you just hire a Professional‌ to do the job for you. Having an account in an Offshore country just make‍ it easier to be protected and it comes with benefits like low amount of tax⁠ and etc.

 

[Lyanna]

I agree with andreas, that's why its called offshore since its not on⁠ the country where you live in... in short its overseas..

 

[Sansa]

You're managing your account on a tax haven country and it will avoid tax issues‌ if you're in a third world country. I think privacy will depend on the country‍ itself and how good your agents are 🙂

 

[hasan2]

It depends on your budget and how much⁤ profits you are doing. If you don't make at least 10k - 20k $ /⁣ month forget about a Trust it's not worth the money you are going to spend⁢ on such an entity.