Overseas Trust for double protection?
- Thread starter doyouexist
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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!
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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.
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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!
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.
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.
This is actually true.. The income tax department cannot trace u easily if your account is at overseas
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.
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.
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.
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?
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I agree with andreas, that's why its called offshore since its not on the country where you live in... in short its overseas..
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.
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