If you’re self employed, you’re affluent, you’re married, you have direct clients, business partners or you’re just concerned that you’re overpaying your taxes, there’s a strong possibility that you should be protecting your finances and assets offshore.
For many people, going offshore is like buying insurance against anything from overpayment of tax maybe, to the attrition of assets or wealth as a result of litigation, divorce, law suits or business suspension perhaps – but the one key thing to understand about offshore asset protection is this – if you’re going to do it, do it sooner rather than later…
When it comes to the question of when to protect your assets and finances offshore your financial, legal and tax advisers will always tell you that the answer to ‘when’ is always ‘sooner’ rather than ‘later’ and that simply put, there is no such thing as taking action to protect your fiscal situation too soon – especially if you want to go offshore for some form of direct affluence protection reasons.
There’s a very good reason for this as well – basically if ever you are faced with a large tax bill, issued with divorce proceedings, sued or dragged into the legal system for example then it’s actually too late to do anything at all about protecting yourself, your finances or your assets.
If you believe you ever could be faced with legal proceedings of any sort, if you’ve ever been un or under insured or you are in a situation where in theory a client, patient or associate could issue proceedings against you and you fail to take any fiscal protective action in advance but attempt to take such action after facing proceedings even though you’re certain of your innocence or of being in the right, you will be committing a criminal offence known as “fraudulent conveyance.”
Fraudulent conveyance is the term used for action taken if you attempt to move assets or wealth offshore or to the protection of individuals, entities or locations which are better protected from potential judgment after you have been advised of a pending law suit – so don’t wait, get yourself and your assets the protection deserving today.
And remember – in the world of offshore advice, services and solutions there’s a saying that everyone lives by and it is this “if you’re going offshore, do it right” – i.e., take advice, don’t go it alone – and take professional and qualified advice because if you rush your decisions, if you rush your planning and you get it wrong you run an incredibly real risk of inadvertently falling into government and regulatory compliance traps or even tax avoidance nightmarish situations.
Rhiannon Williamson writes about going offshore – how to do it right and who can benefit from it – and understanding the features and benefits of offshore bank accounts, offshore trusts and investments. Her website ShelterOffshore.com has all the offshore information you could possibly need.