Asset Protection - Can You Bank On Your Haven ?
There are more offshore banking havens than you can shake a stick at.
Nicholas Pullen tells you how to separate the wheat from the chaff, and make sure the haven you choose is really a safe-house for your
money.
There are definite and strong advantages to placing some of your hard-earned money in offshore bank accounts:
First of all you get asset protection against your government. Nobody knows what a government will do next, anything is
possible.
But, unlike funds held in your home country, wealth stashed offshore is greatly protected against any negative actions your
government might take, or legislation it might introduce, tomorrow.
Secondly, you get protection from predators and parasites. Offshore wealth is shielded from the attentions of asset hunters. Avaricious
litigants, thieves, fraudsters, conmen, blackmailers (disgruntled ex-business partners and ex-spouses) who all seek to pinpoint, target and
eventually attack individuals with visible wealth.
These sharks have weapons at their disposal, and they use them. They routinely run asset searches to identify just who has what
worth targeting. But offshore assets are safe. Asset searches won't uncover offshore assets, these remain totally invisible and safe from
attack.
Thirdly, with an offshore bank account you are insured against the unknown events tomorrow might hold. You never know when you might be mighty
glad of offshore cash reserves. If circumstances at home make it impossible or unwise for you to stay, or impossible to access your domestic
funds, your offshore funds provide you with a financial lifeboat.
"Not all banking havens are suitable, safe, or secure."
Finally, you can rest secure in the knowledge that you have a secret nest-egg. You can build and grow a private stash of cash beyond the gaze of
anybody in your home country.
The first thing you need do, to enjoy the benefits of an offshore bank account, is to select a good offshore banking haven where you can open
your accounts. This is easier said than achieved.
You aren't short of choice, from the Bahamas to Vanuatu, Cyprus to the British Virgin
Islands,
Switzerland to the Cayman Islands. Countries the world over are in the market for, and only too happy to accept, as much foreign capital as they
can get their hands on.
However, you must bear in mind that not all banking havens are suitable, safe, or secure. Some are excellent. Others are ticking time bombs. If
you open an account in the wrong country, it can prove very costly in more ways than one.
What you need to do is to find out how particular banking havens measure up before you lodge any of your cash or assets there. This will require
you to perform some research and investigation. This is well worth doing, and thoroughly. Mistakes avoided at this early stage save time,
trouble and money further down the road.
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