What will happen if I die with my assets in offshore company?

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You may put this all on a list and draw up a will which you‌ will hand over to a trusted lawyer.
 
Yes a letter of your will would be a great way of ensuring what will‌ happen after your death, this can your local attorney help you with.
 
In Mauritius, Your family can take back all the asset with an affidavit from the‌ court. It take between 1-2 weeks to get same in Mauritius. Or even less.
 
Entities and Structures do not go through inheirtance courts. It is outside of wills. The‌ mere fact of someone attempting to use a will to indicate a successor as new‍ CEO, director, or Member of a entity is legal fact of intention for the entity⁠ to be an alter-ego.

A simple Company Resolution accompanied with meeting minutes indicating the succession⁤ and assigns of the Company will suffice. Leave a copy in trusted hands who will⁣ be aware of your death if it were to occur.
 
There should never be any "taking" back because a proper structure⁠ does not belong to the recently deceased. This is an indicator of a poor structure.⁤
 
unfortunately, In Mauritius only a resolution won't do. Bankers will ask for an affidavit

Agree for the Taking Back, I forgot that his question was Offshore Company not Offshore Individual‌ account.
 
To replace signatories? A company IS the customer at a bank, not the signatory. The‌ signatory has no authority to bind the company. He is simply a signatory for a‍ transactional account. A corporate resolution with meeting minutes copy directing the replacement of one signatory⁠ for another is lawfully sufficient paperwork to withdraw one signatory and replace another. The signatory⁤ would have no say in this process. Again the signatory is not a CEO, is⁣ not a Director... if the offshore structure is properly done... and does not have any⁢ say in how long he may remain as a signatory on the account.

If work︀ for coca-cola and you are a signatory on an account, no bank has the legal︁ authority to refuse replacement of the signatory, whether dead or alive. This is spelled out︂ in a Banking resolution which is delivered and requested of Banking institutions at the time︃ of the opening of the account.

But as anyone who is a lawyer or has︄ opened offshore bank account before would know, banks rarely follow their own laws because they︅ are so ignorant of private law vs public law. So if a bank truly is︆ demanding a affidavit from the signatory (this still does not make legal since) then find︇ a notary who will allow you to notarize a replacement order/agreement and leave the dates︈ blank (including the notary date)

EDIT: And you if cant find a notary who will︉ do this (many of them get sticks up their butt as if they are a︊ higher authority) then pay for a homeless man to take the class and pay him︋ to notarize your document. If you tenderly handled the relationship with the homeless man than︌ he will be useful for future endeavors.
 
If Authorized Signatory you are right.

But if he is talking of Ultimate Beneficial Owners‌ taking the service of a nominee shareholder, then they would ask for an affidavit (Especially‍ for offshore).

I agree also that it does not stipulate in the law that the⁠ society would require an affidavit. However, Bankers in Mauritius would surely asked. I already mentioned⁤ in another post that in offshore, some organisation (especially banks) tends to be stricter than⁣ law (Most KYC/AML). And to provide the best and reliable service, it is very important⁢ that clients have an administrator/registered agent managing this.
 
Yeah they get this fancy idea that their "Private Policy" trumps statute and code. The‌ bankers do not even realize that each banking institution is an instrumentality.. an "alter-ego" of‍ the civil state/province. One could make alot alot of money going around suing banks because⁠ of the adverse actions they perform due to their ignorance of their legal position within⁤ civil laws.

Yes you are correct if the Company has beneficial owners that is a⁣ man or woman. However this is one of the stupidest choices people do when going⁢ offshore. So many neglect the advice of a qualified individual and make decisions based on︀ "web-knowledge". The Company that has a bank account should never have "majority shareholders" who are︁ natural persons. It is very ignorant to acquire one offshore entity and stop there. Nothing︂ was accomplished but barely effective 'hiding'. You could do this onshore! If someone wants offshore︃ protection they need at least a two layer structure.
 
Totally agree with the two layer structure. But some people would prefer not opt because‌ they need to pay additional fees. May I know where you work TVentures?
 
A private corporation. You will not find it any where on the web. It is‌ a private group that is libera res publica... It does not offer services to‍ the public. If you catch my drift.

I would not stop even at two. One⁠ needs at least 7 entities to create the base two level structure allowing for minimal⁤ protection.

What takes up the majority of your time in your life?
 
You should leave the Mexican alone... 😀 Thank you all for the great advise in this‌ thread I'm learning a lot.
 
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