How You Can Opt Out of Financial Transparency
Many people searching for offshore secrecy have been led to believe it’s no longer possible.
Organisations like the WEF and the OECD want you to believe financial privacy is dead. They want everybody to think it’s not worth the effort to hide money nowadays.
The head of the WEF, Klaus Schwab would like to abolish financial privacy. It’s safe to say that all governments share that viewpoint.
Governments Want Transparency
Governments say that everything should be transparent. Unfortunately, many offshore advisors have fallen into the same trap. They advocate sound-good platitudes like ‘show and tell’ and ‘onshore is the new offshore’.
You don’t have to buy into this.
Yes, the powers that be want to kill what remains of offshore secrecy. But correctly structured and well-planned asset protection vehicles do still work. Even with anti-privacy nonsense like CRS and FATCA making things seemingly impossible.
The fact is that every time governments introduce new regulations, new loopholes appear. For example, it’s possible to set up a company in any jurisdiction that’s totally immune to CRS and FATCA. We regularly set up such structures for our private clients.
Creative Thinking is Needed For Offshore Secrecy
The key is to think outside the box. Offshore secrecy is still obtainable, 100% legally.
Some will no doubt ask why anybody would need financial privacy. Why would anyone want to hide their money? Anyone asking such a question has never lived in the real world.
They’ve never experienced the misery of lawsuits, tax demands and government investigations.
There are dozens of reasons people not only want financial privacy.
They need to have it.
Only some people want the world to know about their wealth. Many know that overt displays of wealth can attract the wrong kind of attention from criminals and governments. People want to avoid having their assets taken from them. Whether that’s by way of divorce, lawsuits or outright confiscation, the result is the same.
How to Protect Your Wealth
Everyone has a right and duty to future generations to keep their wealth intact. Part of keeping your wealth intact nowadays is ensuring it’s well protected.
To protect it well, at least part of your wealth should be in an impenetrable offshore structure. One that only you can access. The level of financial privacy you can achieve with this kind of structure can be as high as in the days of numbered Swiss bank accounts.
The difference nowadays is the methodology. It takes much more effort to put together a bulletproof offshore structure nowadays. There are more hoops to jump through to get to where you need to go. But the good news is that it’s still possible.
You can still have control of your money without being the legal owner. You can keep different classes of assets in multiple jurisdictions. You can ensure that your banker doesn’t report your accounts under CRS or FATCA.
Anyone with moderate wealth should be taking steps to secure it now.
Governments are Coming for Your Cash
Governments always need more cash. Even the US was down to its last few billion in the treasury recently. When these governments run out of the capacity to borrow further, it won’t be pretty. There’s only one place they’ll come looking for the cash – the moderately wealthy who are still in the country.
The super-rich are already well protected. The poor have nothing to confiscate. That leaves the hard-working middle class. So, even if you can be sure you’ll never be subject to a lawsuit or a divorce, you should take steps to protect your hard-earned assets.
Offshore privacy is still possible and likely always will be. The game may change, but the result remains the same — fully protected and untouchable assets.