How do I put my money into an offshore asset protection plan?

Once your offshore corporation and trust are established, IFG Trust will help you open offshore bank and investment accounts with major financial institutions. When these accounts are in place, you simply transfer funds directly to the bank or brokerage firm at your discretion.

Once I've established an offshore corporation and trust, who manages my money?

As Manager of the International Business Corporation, you will remain active in the ongoing management of corporate assets. You will determine corporate offshore investment strategies and you will maintain signing authority on all accounts. To preserve the credibility of your trust structure, IFG Trust will assign professional support where necessary.

How do I get my money out?

As manager of the IBC, you will have access to a corporate credit card that can, in some cases, be used to pay for company related expenses. As a beneficiary to the trust portion of the structure, you may also stand to benefit from future distributions of trust income and property.

Do I have to travel to the country where my offshore corporation is located?

Offshore financial planning does not mean that you have to live abroad or even visit your foreign corporations or other offshore facilities. Offshore business is conducted online through IFG's secure and convenient electronic messaging system. At your direction, our qualified professionals deal on your behalf with reputable and secure offshore banks, investment firms, and government authorities. Even investment services within your country of residence can be purchased on your behalf from an offshore location.

What would happen if I died?

In the case of an offshore trust, the assets you hold would become the property of those individuals you named as trust beneficiaries. In this sense, an offshore trust is a living will - only better. In an offshore environment, probate fees are typically non-existent, inheritance taxes can be minimized, and perpetuity rules generally do not apply.

For those who incorporate without a trust, offshore assets would be transferred through the provisions of a Last Will and Testament. Bear in mind, the disclosure of offshore assets in a will does compromise the privacy of your offshore affairs. For this reason, an offshore trust adds a recommended layer of privacy to an offshore financial plan.

Isn't it illegal to go offshore?

Absolutely not. This is perhaps the biggest myth around offshore money management. Offshore investing is used for legitimate purposes by law-abiding individuals and corporations.

The fact is it has never been illegal to invest money overseas. Every western nation depends on and encourages international trade. This means there are usually no restrictions on residents doing business or having bank and investment accounts in other countries. Many countries do, however, impose reporting requirements. Please contact a local advisor for information specific to your country of residence.

Aren't offshore financial services just for the very wealthy?

Offshore havens are no longer just for the ultra-rich. Any individual with extra money to invest or assets to protect can benefit from them. No matter where you live, there are legitimate financial benefits to offshore investing. The fact is hundreds of billions of dollars are held offshore, and the number of offshore investors in growing rapidly.

Will going offshore reduce my taxes?

That depends on the taxation policy and reporting requirements of your home country.

Reporting requirements for other countries vary. In many cases, there are tax savings to gain from offshore investing. For more information, contact a local advisor.

If I can't legally avoid paying income tax, then why invest offshore?

There are many other legitimate benefits to gain from offshore investing. Offshore structures are commonly used for asset protection, estate planning, international investments, and guaranteed financial privacy.

Who should I consult before going offshore?

IFG Trust is a corporate management and trust service provider. We do not provide legal or accounting advice but will work closely with your advisors to develop an offshore strategy for you. We highly recommend you consult with your onshore legal and accounting professionals to ensure you meet the reporting requirements of your country.