Safety

[tongyun]

How safe are offshore businesses? What rights and guarantees does a person have when setting up an offshore business and what kind of protections are in place for the individual?

Last edited by a moderator: Mar 4, 2009

 

[SysOp]

It is very safe; I read on some website that a dentist was protected by an offshore company for his assets while he made some "mistake" with one of his patient.


I do not honour this but at least it showed that you have a 100% protection against creditors.


The beneficial owner of an Offshore Company has 100% protection and can't be held responsible for any liabilities on behave of the company, the difference here to a regular LTD / LLC in your local country is that the authorities have a hard time to break through the secrecy and owner protection Offshore jurisdictions give the owner of a Offshore Company.

 

[Lumber Joe]

What do you mean under safety? Risk of expropriation from the government or what?

 

[SysOp]

Lumber Joe said:
What do you mean under safety? Risk of expropriation from the government or what?
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Yes it was what I ment.

 

[Lumber Joe]

fila1 said:
Yes it was what I ment.
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In that sense offshore business is highly secure. Governments of offshore banking centers work hard on establishing good image of their country. They would never risk to expropriate anything.

 

[cherokeeflyer]

Lumber Joe said:
In that sense offshore business is highly secure. Governments of offshore banking centers work hard on establishing good image of their country. They would never risk to expropriate anything.
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My concern has always been a change in government, even a coup, when it comes to some of the Caribbean Islands.


From what I have researched, the safety has actually been very high and there are even ways to structure things where funds would be instantly moved to another country if Government instability became an issue.