INTERNATIONAL FIDUCIARY STRUCTURE FOR US CITIZENS
Many investors and privacy concerned people believe an Offshore Corporation is the answer to all the questions. It is not! Today to make money offshore legally and to reduce your level of taxation you need an overall asset protection structure that guarantees privacy and confidentiality.
First of all one must examine where you are "offshore". Some countries do not tax "offshore income" such as Costa Rica or Panama. Therefore, if you had most of your money in offshore income, you would pay no Costa Rican / Panamanian taxes. Next step, US taxes. As an offshore resident, that is a US citizens who resides abroad, you don't have to pay taxes on the first $84,000.00 in income. So depending on your assets and income, this may result in a very comfortable living outside the US with no taxes. Here www.Finor-Group.com can assist your obtaining permanent resident status in several offshore jurisdictions.
Secondly, there is the offshore entity. Depending on the nature of your income or your desire to invest in various non-US regulated investment, and/or in your concern for privacy and/or asset protection, you may want to start an offshore Company or Trust. Income from such entities are not taxable in the US as long as the income is not derived from US investments and/or activities, and that the income is not passive in nature. So if you had a "real" business, and operated it through an offshore company, and the business was of the appropriate type, the income could be tax free. However this is a complex area of study, and filled with a great deal of people looking to sell a particular product. This is only natural as information on these matters are hard to come by, and generally difficult to fathom.
As we do asset protection and estate planning, part of our planning often involves evaluating issues such as these. We find most of prospective clients resist the detailed analysis we provide. They prefer dealing with people who just give them "information" and let them decide on their own. This is kind of a cowboy approach, and sometimes works just fine. Just be aware of where you are getting your information:Most service providers don't offer evaluation, they just offer products. Choosing among different products can be troublesome as they are all good for someone, maybe not you. Maybe you don't need anything? Who knows…
We create a special package deal for US citizens:The International Fiduciary Structure that legally works for asset protection of real estate, securities, retirement accounts, cash, etc. , or simply for the purpose of investing in an environment that gives you the tax benefits that offshore investing does. There is some groundwork to be established that you must understand before you can see how through offshore structuring you can accomplish these objectives.
You, your Offshore Entity and the Law
As above mentioned, the tax laws in the US do not require foreign corporations which are not directly involved in business activities within the US (i. e. the Corporation does not have physical offices or conducts business in the US) to pay tax on capital gains obtained through investment in US markets (stocks, bonds, futures, options, commodities, etc. ). Panama law does not require Panamanian Corporations to pay tax on any income generated from business activities conducted outside of Panama, nor does it have a tax on capital gains generated from investment in securities of companies outside Panama.
It is important that, however Draconian the laws of your home state may appear to be, you remain within the law. It is this and this alone, that differentiates between Tax Avoidance, which is perfectly legal, and Tax Evasion which is not. Most States have a fairly relaxed attitude to those who wish to shelter their assets elsewhere than in their home country. Unfortunately the United States is not among these and exerts its influence on the affairs of its citizens wherever they may choose to place their affairs.
You Have Been Warned - Fraudulent Disposition. Before you even contemplate moving your assets offshore, you should consider the implications of The Fraudulent Dispositions Act. To avoid your creditors by hiding assets is illegal and an IBC (Offshore Company) will not protect you from their wrath! This is a criminal offence and the law provides for the veil of secrecy to be swept away in such cases. If you are already embroiled in such a case it is too late. If, on the other hand, no such action has been instigated, swift action may save you. Above all, tell your offshore provider, frankly, of your situation and follow his advice.
You and the Tax-Man
The U. S. authorities require a statement from their citizens to the effect that they have no controlling interest or similar influence on an offshore account or company. If a controlling interest is declared, then tax will be payable on interest or profits produced by the account or company.
Now, we are pleased to introduce you with our “International Fiduciary Structure” package, which is a combination of an Offshore Managed Corporation whose shares are held by a Private Interest Foundation, and hope to establish a long and prosperous relationship with you. The purpose of this structure is to provide a cost-effective structure for anybody with a high net worth (Or anyone with assets that may be attached in a potential lawsuit: those wishing to invest without having a tax penalty on the returns, those who wish to run their business under a less restrictive legislation, and those who would just like to retain a little plain old privacy, for whatever reason, in their affairs) which www. Finor-Group.com will administer it, allowing you to legally invest through the Offshore Managed Corporation in many different global markets without the burdensome capital gains taxes. The structure also provides all the basic entities necessary for the protection of assets such as real estate, securities, domestic businesses, and just about any other asset.
CLIENT'S INTERNATIONAL BUSINESS:You will be able to reach your most important goals through offshore strategies for your business. Our proposal includes a complete offshore structure that will re-invoice the earnings out of your international business, effectively, securely, and in a timely manner into our international structure.
I. CLIENT STRUCTURE
The structure we recommend for your business is to first set-up a Panamanian Foundation, being the central feature of your International Fiduciary Structure. Your assets will them become legally separated from you, hence providing protection from creditors and taxation. The Foundation will receive revenue from the entities in your structure. An offshore multi-currency bank account, a fiduciary brokerage/trading account, and an international no-name debit card will accompany the implementation of your Structure. The following are the steps to establish the skeletal framework for your offshore structure, the “International Fiduciary Structure”:
PANAMANIAN PRIVATE INTEREST FOUNDATION:We recommend that you establish a Panamanian Foundation to maximize both your level of control and asset protection. Nominees will be provided by Finor to serve on the Foundation Board. All of the other entities in your structure will be derived from, or formed under, the Panamanian Foundation. All funds which flow through the structure will ultimately arrive in the Panamanian Foundation.
OFFSHORE MANAGED CORPORATION:We recommend that the Panamanian Foundation incorporate and own an Offshore Corporation. Nominees Directors & Officers for the Offshore Corporation will be supplied by www. Finor-Group. com. Funds will accumulate in the Offshore Corporation, upon transfer from our Trust Company held and invested for the benefit of your Panamanian Foundation.
II. THE OPERATING STRUCTURE
The following is the operating structure which is owned by www. Finor-Group.com. The operating structure includes our Trust Company and our Financial Institutions for optional re-invoicing your business. We use these entities for Tax Treaties purposes that exist between their countries of incorporation. We have created this structure to legally accomplish your essential goals and commercial/industrial needs offshore. From this structure you will be able to re-invoice the profits made from your international business.
Because of the special requirements to maintain the accountancy books and have secretary/fiduciary services in Panama, www. Finor-Group.com is responsible for the re-invoicing work. The commission will be 2% on the amount invoiced, plus any additional banking costs. This will be the procedure for the commission structures every calendar year.
The following is our recommendations for the set-up of your International Fiduciary Structure:
- We recommend the use of our Trust Company for the purpose of invoicing out of your international business.
- We recommend our Financial Institutions to re-invoice from the Trust Company. These transfers will take place without tax consequences due to the existing and current Tax Treaties between the concerned jurisdictions.
- The money re-invoiced into our Group will then be transferred to the corporate bank account of theOffshore Managed Corporation, which forms part of your structure, finally to be donated to your Panamanian Foundation.
- INTERNATIONAL TRANSACTIONS: We will open your corporate checking and brokerage accountsand as an extra device to access funds an ATM No-Name Debit card is offered as supplement to account holder.
TOTAL COSTS: The cost of such structure will be US$7,500.00 and this price will include:
- Incorporation of a Private Interest Foundation
- Annual Management & Government Fees
- Incorporation of an Offshore Corporation
- Annual Management & Government Fees
- Nominee Directors & Officers
- Offshore Multi-currency Bank Account with full internet banking (At time of incorporation)
- On-line Brokerage/Trading Account (At time of incorporation)
- Bank Deposits
- Maintenance of Bank Accounts
- Offshore No-Name Debit Card (At time of incorporation)
- One Year Serviced Mailing Address & Mail Forwarding
- Telephone & Fax Services
Additionally, our Firm agrees to put in place the structure necessary to activate an invoicing scenario for your international business and will charge a fee of 2% on the total amount invoiced. Again, our US$7,500.00 full management agreement will cover all the above listed expenses, including complete formation of your International
Fiduciary Structure at no extra cost, except for courier and postal charges. Your International Fiduciary Structure will have a US$4,500.00 annual renewal fee, other optional services pricing information as follows:
Nominee Execution: |
US$50. 00 |
Notarized Power of Attorney: |
US$300. 00 |
Certificate of Good Standing: |
US$175. 00 |
Certified Copy of Company Documents: |
US$125. 00 |
Name Change of Corporation: |
US$200. 00 |
Apostille: |
US$250. 00 |
Invoice for expenses, etc. : |
US$50. 00 |
Courier and Mail Forwarding: |
Actual private courier and postal fees |
Cash Withdrawals: |
. 25% per transaction |
Bank Transfers from FG accounts: |
. 25% |
Consulting Fee, Senior Officer: |
US$175. 00 per hour |
Tax and Estate Consultation: |
US$225. 00 per hour |
TIMESCALE: 4-6 weeks for corporate/banking documents to arrive by private courier services.
By implementing this structure, you will obtain maximum offshore benefits in many aspects such as, privacy, security, tax reduction, asset protection, increment in your savings, among others. We are confident in our guarantee of genuine and professional service provided always for your best interest.
