The Greece crisis, the Eurozone crisis, and the worldwide crisis have impacted our sentiment and outlook toward the future of our very own personal well-being – very differently. Some are becoming angry and bitter toward their life, country and the world. Some take the “don't care” or “happy-go-lucky” path, going with the flow and react to what's happening today. Some take the most challenging path of planning for the future – for better or worse.
I don't know which path are you taking right now, but we, as an international corporation service, suggest that you take the most challenging path, for some logical reasons:
- When you are angry and bitter, you aren't solving your problems. What you need is a solution, which only can come to you if you want to take action.
- When you don't care – or don't know – you tend to rely on what's happening in your life and where you live. Right now, relying on others (e.g. Government) to provide you with a solution is not a sound strategy. Moreover, when you have the reactive mentality, you are most likely to be late in responding to changes. Just ask the Greeks who lined up in front of the ATMs.
- When you proactive, taking preventive and protective measure against all odds, you are a few – even many – steps ahead of the potential crisis. You might not experience any surprises – which is good. Surprises are only good if those happen in a birthday party; surprises are hell in an economy/political crisis.
If you take the angry and happy-go-lucky path, we are sorry – we can't help you. However, if you know that protecting your assets is the best path to take, we can offer you several solutions.
Indeed, we are not a financial planner, but we have helped companies and individuals alike to secure their assets offshore, and from what we know, it's one of the best ways to protect your wealth.
We have talked about the “how”:
- A complete beginner's guide to setting up a fully operational offshore company
- Offshore Banking Scams: How to avoid
- Offshore investing - how to do it legally ?
In this article, we would like to talk more about the why, because we want you to be sure that you are making the well-informed decision for your asset protection.
So, why protecting your assets offshore is a sound financial decision for companies and individuals?
1. Securing your assets in a stable jurisdiction means that your assets are not impacted by your home country's situation
When your home country is currently in crisis, you have two options.
Firstly, you can hope that the crisis will pass soon and hope that your Government is taking the right actions. You can have both hopes realized; unfortunately, you can also have both hopes lost.
Secondly, you can hope that the crisis will pass soon and secure your assets elsewhere preparing for the worst. Just like illness, in financial planning, prevention is better than medication – storing your assets in a real value (e.g. Gold and silver) and protecting your assets on a safer place are two of the best preventions for potential financial “illness.”
The second option is more plausible because, whether your home country is recovering or not, your assets are safe, nevertheless. Protecting your assets in an offshore company and/or bank account on a stable jurisdiction that isn't related to your home country can give you the protection you need – and more.
2. You can enjoy the freedom that is becoming scarcer than ever
The Australian government wants to tax your bank account. The US' IRS want to hunt down US citizen's assets offshore. In short, The Governments want to make sure that the citizens' assets stay where they are: Within their reach, so that when crisis happen, they can “make use of” the assets as needed. It's not that the Government is bad, but that's just the way it is. It's either you want to play the game or break free – legally.
If you opt for breaking free legally, you can pursue the offshore path. Move your headquarter offshore. Invest via offshore private banks. Start a business and buy properties offshore. As you can see, you have more choices offshore than onshore.
3. Insure your assets and stop feeling frustrated by your home country's situation
People start to realize that one of the most effective ways to insure their assets is by buying precious metals. That's why that demands for precious metals are higher than ever – which is only natural given the gloomy outlook of the global economy.
How badly do people want the safety? Gold and silver purchases are all-time high. Weirdly enough, prices are going down, indicating that the time to “insure” your assets in precious metal is now, as precious metals are at all-time low. The sign of times:
If you consider buying precious metals in your home country as a not-so-prudent decision, you can definitely do it offshore, via precious metal dealers or private banks – legally.
We can go on and on, but those three should be enough to keep you thinking that there ARE solutions that you can take for securing your assets.
Protecting your personal and business assets should be your responsibilities, not third parties like brokers, agents, or even your Government. Stop having the herd mentality and start having the opposite of herd mentality, and act swiftly – with caution, as the window of opportunities are not always open.
Please consult your trusted legal advisors before taking any decisions and do let us know if you have any inquiries about setting up an offshore company formation and/or opening an offshore bank.