ASSET PROTECTION COMPANIES

To protect one’s assets (for instance against lawsuits) any individual with substantial liquid funds should consider having an offshore company plus an offshore bank account. The legislation of most offshore jurisdictions makes it very difficult, time-consuming, and expensive to launch debatable litigations. For instance, complainants are quite often asked to deposit considerable bank bonds as security with the governments, and local attorneys have to be retained and paid in advance. Further, unlike in some countries, it is virtually impossible to check other people’s bank balances within offshore accounts.

To guarantee a high degree of protection for the least cost it’s highly advisable to use a trust which would own the offshore company in which you set up. Such structures for asset protection should always be designed tax neutral. City Trust has experience in these matters and would be eager to serve you.