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Help me pick a place to open an offshore location

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hernanday

Active Member
Dec 23, 2019
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#1
-I've been looking around for the last 2 months into different offshore locations, structures and things like that, and I just recently stumbled across this place. Been lurking and reading as much as I can and learned alot from all the smart people here. Many of the offshore websites were misleading, they made it seem like well just go to Cook Island or Nevis, file some paper work and then open your account and transfer your millions. I since learned its nowhere near that easy but have encountered some road blocks. But my main question is where should I conduct my affairs?

1. I don't want to give too much detail about myself. But I had a successful business, paid all my taxes, and operated above board and legally in my affairs. I took on a new business partner (bad idea) who basically ran up debt on his side of the business to finance his new drug and gambling addiction, behind my back. He basically destroyed the businesses ability to generate money and we are both on the personal hook for the business debts. I have a large sum of cash available to me, enough that it is worth it to do something offshore to save my a*s.
2. The creditors are going to come after all my personal s**t (his too but he is a druggy so presumably all his money will be blown away in drugs by then).
3. I'm not sure how to get my money out the country to an offshore location
4. I'd like to tuck it away and make it essentially judgement proof.
5. I intend to leave the country before creditors can "get me"
6. I have enough money that I don't have to ever work again
7. I have a fear that whatever location I select the offshore bank/trustee will basically try to rob me of my money. Then I'd be REALLY screwed.
8. I don't live in a country with worldwide tax reporting, but I have no issue paying my legal tax share.
9. I seen that many offshore jurisdictions don't make it easy for the foreigner to open a local bank account (in many cases near impossible). Given that the creditors would like take whatever account they can trace to me in my home nation, I will need to bank out of a foreign account to leave successfully.
10. I have no clue of how to even get the money out to the foreign jurisdiction, I'm sure wiring $5 million to Cayman Island won't look suspicious said no banker ever. I can't just walk onto a plane with $5 million in cash given exit and entery request asking me how much money I'm bring in or taking out. As theorhetically my creditors could find those documents and say where did the $5 million you left with from the country on your trip to Cayman's go?

I've seen all kinds of solution from putting it into foreign/offshore corporations, or foreign trusts, foundations, from Nevis to Panama to Seychelles to Gibraltar, Abu Dahbi, etc. I'm not sure if it is better to try to get a stash house in a corporate name in Norway and just by valuable art and persian rugs and golden vases and silverware and just fill it up with crap like that for safe keeping or rent out a spot in a vault or safety deposit boxes and fill them with gold coins.

I am basically looking for a location where my money can be deposited into a real bank who won't rob me, where the money is fully insured at that bank, where I can maintain some degree of anonymity so my creditors can't just look up my account on google and try to seize my s**t, and that I can actually get the money out of the country to get there. I have no issue proving legitimate source of my funds to the banks. It would also be preferable if the target nation allows me to open an account in my business name (to create some separation and make it harder for creditors if they ever do track me down + plausible deniability) so that I don't have to worry about them enforcing a foreign judgement on my bank and waking up one day with all my money gone.
 
#2
The hard reality is that it's too late and you should work on sorting things out in an orderly way. Hire a good lawyer to help you explore every possible avenue to reduce your liability.

Asset protection should be planned at least a couple of years ahead of time. Look into fraudulent conveyance or local-law variation thereof depending on where you are based. Even the strictest asset protection regulations and structures won't save you if you put your money in a trust or foundation with the intent to hide from current and valid creditors.

You can take a look at Cook Islands, Nevis, Liechtenstein, Switzerland, Samoa, US (South Dakota, Wyoming), and other jurisdictions popular for asset protection. It'll be interesting research. But if you speak with professional advisers (which you absolutely should do), they will tell you the same thing. Even if they do help you set something up, there is a very high risk it won't hold if there is documented proof showing you are moving money offshore.
 
#5
Sols said:
The hard reality is that it's too late and you should work on sorting things out in an orderly way. Hire a good lawyer to help you explore every possible avenue to reduce your liability.

Asset protection should be planned at least a couple of years ahead of time. Look into fraudulent conveyance or local-law variation thereof depending on where you are based. Even the strictest asset protection regulations and structures won't save you if you put your money in a trust or foundation with the intent to hide from current and valid creditors.

You can take a look at Cook Islands, Nevis, Liechtenstein, Switzerland, Samoa, US (South Dakota, Wyoming), and other jurisdictions popular for asset protection. It'll be interesting research. But if you speak with professional advisers (which you absolutely should do), they will tell you the same thing. Even if they do help you set something up, there is a very high risk it won't hold if there is documented proof showing you are moving money offshore.
Click to expand...
I looked into this carefully in my jurisdiction, it is not too late. The lawyer pretty much recommended I look into this solution because he pretty much explained there was no real out of the liability other than basically escaping the nation. I confirmed this with a cousin who is also a lawyer.

The main challenge would be slipping the money out the country in a manner difficult to detect to creditors in my absence.
 
#9
hernanday said:
I looked into this carefully in my jurisdiction, it is not too late. The lawyer pretty much recommended I look into this solution because he pretty much explained there was no real out of the liability other than basically escaping the nation. I confirmed this with a cousin who is also a lawyer.

The main challenge would be slipping the money out the country in a manner difficult to detect to creditors in my absence.
Click to expand...

I'd be very careful of transferring the money offshore with a pending lawsuit. You need to make it look like an expense and not like a transfer.

Nowadays the safest place to put your money would be on Stablecoins, any other structure of Cook Islands, Seychelles doesn't work as they won't open a bank account and it would look for your local authorities as suspicious
 
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#10
hernanday said:
I looked into this carefully in my jurisdiction, it is not too late. The lawyer pretty much recommended I look into this solution because he pretty much explained there was no real out of the liability other than basically escaping the nation. I confirmed this with a cousin who is also a lawyer.

The main challenge would be slipping the money out the country in a manner difficult to detect to creditors in my absence.
Click to expand...

Good asset protection shouldn't rely on lack of detection. There is no protection in secrecy, if secrecy is all you're relying on.

If your creditors take you to court and the court starts looking into your bank activity, you may find yourself having to answer for large transfers out of the country during a time when you know (or reasonably should have known) that creditors were coming for the money. Typically in a situation like this, the court will just find you are liable and not care how you cough up the money. But they (and the creditors) will make your life hell until you do. You aren't sufficiently distanced from the money, both in terms of time and in terms of ownership, if it's done with such short notice and during a creditor's demands.

The creditors can pursue the court case in whatever jurisdiction you set up a trust, foundation, or company. Depending on how dedicated they are, of course. This is where fraudulent conveyance would come into play and a local court there might nullify or declare void your structure.

Now, if both you and your money leave your country and you leave no assets (or, sometimes, family) behind, you might be able to get by. There are conditions under which this would become money laundering or at least the bank will have reason to not consider your previously clean proof of funds to be clean (depending on the severity under which you evade creditors), even in your new home.

It's hard to say for sure since it's all so dependent on amounts, severity, and jurisdictions.

Speak with SouthPac Trust and other reputable service providers in the aforementioned jurisdictions. See what they say.
 
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#11
GiGoGo said:
I'd be very careful of transferring the money offshore with a pending lawsuit. You need to make it look like an expense and not like a transfer.

Nowadays the safest place to put your money would be on Stablecoins, any other structure of Cook Islands, Seychelles doesn't work as they won't open a bank account and it would look for your local authorities as suspicious
Click to expand...
TY, I have not been sued yet, so it is technically not pending.

What is a way to make it look like an expensse and not a transfer?

Why wouldn't cook or seychelles open the account for me, I thought they are suppose to offer accounts for offshore customers?
 
#12
hernanday said:
TY, I have not been sued yet, so it is technically not pending.
Click to expand...
But as the previous post stated "during a time when you know (or reasonably should have known) that creditors were coming for the money"

hernanday said:
What is a way to make it look like an expensse and not a transfer?
Click to expand...
Go to a Casino and loose all they money against somebody you trust.
There's other ways, contact if interested
hernanday said:
Why wouldn't cook or seychelles open the account for me, I thought they are suppose to offer accounts for offshore customers?
Click to expand...
Sols described well the problem with offshore, Cook Island is very difficult but would you store they money there? They require a physical visit for personal accounts
 
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#13
GiGoGo said:
But as the previous post stated "during a time when you know (or reasonably should have known) that creditors were coming for the money"


Go to a Casino and loose all they money against somebody you trust.
There's other ways, contact if interested

Sols described well the problem with offshore, Cook Island is very difficult but would you store they money there? They require a physical visit for personal accounts
Click to expand...
I'd have no issue to send or store the money there provided it is a real bank with actual protections for depositors that won't shut down and run off with the money, but I seen other threads claiming they won't open an account for non-residents, so I'm not sure if it is realistic option. I don't mind to visit in person, is a trust account considered personal?

So to paraphrase, the difficulties with offshore are just getting the account open? What specifically makes Cook Island so difficult?

PS, msg me the other ways, as I cannot private msg you for some reason.
 
#15
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