subject: Government Issued Licenses for Asset Protection and Management Services [print this page] Government Issued Licenses for Asset Protection and Management Services
If you are looking to set up a business offshore from your home country consider obtaining an asset protection and management license in an offshore location. In these trying economic times many are looking offshore to tax advantaged jurisdictions with discrete banking and business laws. You may have been one of them. Now that you know the ropes, so to speak, may be the time to help others with the details of setting and, more importantly, maintaining asset protection offshore
The Need
Many have chosen and are currently choosing to move their assets offshore from their home country. Some of these are people who are retiring and want their banking to be in the country where they will now live. Some are starting offshore businesses and likewise want banking to be efficient and accessible. Both will typically want to set up business, banking, and any other offshore entity in a tax advantaged jurisdiction.
Many individuals and corporations would like to take advantage of jurisdictions where the laws are conducive to privacy in holding assets. Common strategies include offshore foundations, offshore corporations, and offshore banking. These asset protection vehicles allow a perfectly legal degree of privacy and protection for personal information and for hard earned assets.
Those who wish to set up businesses offshore commonly wish to use the above mentioned asset protection vehicles to safeguard business assets and to be able to shield their business plans and actions from competitors in today's fast moving and cutthroat business environment.
The Opportunity
For most of the history of offshore companies, foundations, and banking the ability to manage offshore asset vehicles, set them up, act as counsel, etc. was limited to business entities native to the country setting up the laws that allowed such asset protection vehicles. This is no longer the case. There are offshore jurisdictions where an individual or corporation can set up business, obtain a license, and offer offshore services such as Asset Protection and Management License. Such a business can offer the same badly needed services to others interested in offshore solutions to their asset protection and privacy needs.
How to Obtain an Asset Protection and Management License
This starts with dealing with competent and reliable counsel. Although you will, one day, be providing offshore services you will do best with wise advice in the beginning. Which jurisdictions offer the most advantageous services, which are most tax advantaged, and which are the most cost efficient locations from which to operate are just the first questions.
Start with choosing a jurisdiction and then choose which service you want to be licensed in. In this case we are looking at an Asset Protection and Management License.
Obtaining such a license will require that you submit an application whether you are doing this as an individual or a corporation. You will need to provide personal and business related information for all applicants, directors, shareholders, and directors.
The set up cost for obtaining an asset protection and management license and starting business will typically run around $27,000.
