Hey guys,

Today I was doing some research on setting up offshore schemes to protect my assets, and I found this site:

Code:

http://www.panamalaw.org/

They seem to know a lot about offshore banking, but after searching in Google I can't find any reliable reviews about them.
Does the site look like "criminal targeted" to you? They are expensive but if the really deliver what they promise I think is worth it.

Thanks

I don't think they are a good company, nothing about Bulgaria,Albania and Montenegro. They have some of the lowest tax rates in the World.

Most offshore companies are going to have little to no reviews lol.

I know because my cousin does that and he told me to do my hw. I laughed because on almost every company there is little to no reviews. Only reviews are if they are scammers.

Lets say that I am married and getting a divorce,but I have most of my assets in a foreign company no one knows about. Is there a way the local court will find out?

Originally Posted by Roparadise

Lets say that I am married and getting a divorce,but I have most of my assets in a foreign company no one knows about. Is there a way the local court will find out?

Well if the company that you hired has done a good job, they shouldn't find your assets very easily.
However, every day the developed nations are putting more pressure to tax havens and some are giving up (e.g Switzerland). So actually there are no guarantees, but at least you can give it a try.

If you are serious about this, there are a lot of legitimate ways of doing that WITHIN the US. For example if you set up a Nevada corp, NV doesnt share any info with the IRS, and you can select a nominee, so your name will never be linked to the corp

Originally Posted by SmokeScreen

If you are serious about this, there are a lot of legitimate ways of doing that WITHIN the US. For example if you set up a Nevada corp, NV doesnt share any info with the IRS, and you can select a nominee, so your name will never be linked to the corp

I presume you are talking about ” bearer shares”. Those were done away with a few years ago.

Originally Posted by teeniegenie

I presume you are talking about ” bearer shares”. Those were done away with a few years ago.

No, I am not talking about bearer shares. For one, there is no income tax in Nevada so no incentive for NV to share information with the IRS (unlike the majority of states).

Also, in Nevada, you do not have to reveal the stockholders of a corporation. The only thing revealed is the identity of the officers. If you have nominee officers for your corporation, your name is not revealed. You, therefore, have privacy. No one knows who owns your corporation. If done properly, this can be a very valuable strategy for protecting assets.

Friend , you will try another time for get that website

Originally Posted by Clear Presence Media

Yea, offshore is great. It becomes tough to spend the money though.

Dont buy some bs website (I didnt even visit it).

If youre going to do something this serious, you should already know the risks involved, and you should be absorbing as many "second opinions" as possible.

After you get enough "second opinions" and form your own opinion, you need to visit a tax attorney, asset protection attorney, or a successful person who has done what you are trying to do (successful being at least $5m net worth, no bs millionaires, you need solid info that you can trust)

There is a great book that taught me a TON (probably more than any book before it) about minimizing taxes as a US citizen. It was called "Tax Loopholes of the Rich" or something of the sort. One of the few books that remained a reference book of mine until this day. After reading that book, you will have a foundation in asset protection via business structures.

I know this response will probably discourage you, but I read that book and got my structure up in under a month. I save $11 grand a year by doing it. One of the best decisions of my life.

That was a really helpful post, thanks a lot for sharing your insights

Originally Posted by juanle455

Hey guys,

Today I was doing some research on setting up offshore schemes to protect my assets, and I found this site:

Code:

panamalaworg/

They seem to know a lot about offshore banking, but after searching in Google I can't find any reliable reviews about them.
Does the site look like "criminal targeted" to you? They are expensive but if the really deliver what they promise I think is worth it.

Thanks

Did not bother going to website, Panama is not a good choice, if you look around a little harder you will find better ones.

Originally Posted by Roparadise

Lets say that I am married and getting a divorce,but I have most of my assets in a foreign company no one knows about. Is there a way the local court will find out?

Why would they look if no one knows? But if it was set up right in the right country, your golden.

ok

Originally Posted by Clear Presence Media

Yea, offshore is great. It becomes tough to spend the money though.

Dont buy some bs website (I didnt even visit it).

If youre going to do something this serious, you should already know the risks involved, and you should be absorbing as many "second opinions" as possible.

After you get enough "second opinions" and form your own opinion, you need to visit a tax attorney, asset protection attorney, or a successful person who has done what you are trying to do (successful being at least $5m net worth, no bs millionaires, you need solid info that you can trust)

There is a great book that taught me a TON (probably more than any book before it) about minimizing taxes as a US citizen. It was called "Tax Loopholes of the Rich" or something of the sort. One of the few books that remained a reference book of mine until this day. After reading that book, you will have a foundation in asset protection via business structures.

I know this response will probably discourage you, but I read that book and got my structure up in under a month. I save $11 grand a year by doing it. One of the best decisions of my life.

I think you are referring to this book: http://www.amazon.com/Loopholes-Rich.../dp/0471711780

Loopholes of the Rich, right?

Where I live all the E companies are off shore. I have setup a forex company for my former employee, and did it as a service once too. It costs quite a bit of money to make it right, but it's 100% bulletproof.

Originally Posted by learningman

Did not bother going to website, Panama is not a good choice, if you look around a little harder you will find better ones.

Well perhaps you should bother to visit the website because it says that they don't recommend Panama corps anymore, instead they promote a structure based on Nevis LLC's, Hong Kong banking and Belize trusts.

Originally Posted by juanle455

Well perhaps you should bother to visit the website because it says that they don't recommend Panama corps anymore, instead they promote a structure based on Nevis LLC's, Hong Kong banking and Belize trusts.

Ok, I looked at the website, maybe ok, maybe not. Something with Belize would be ok, no hong kong, no panama, Nevis may turn out alright, I would not, but may turn out alright. Prices a little high but in the ballpark if they truly know what they are doing. Something with Andorra or Ecuador will work for a few years but will change like Panama eventually.

I found that Loopholes For The Rich book on Rapidshare and re-uped to Mediafire. Virustotal shows one warning, "File is damaged" but it opens fine for me. Download at your own risk etc etc.

Code:

http://www.mediafire.com/?qr3u3bywksno78d

Virustotal:

Code:

http://www.virustotal.com/file-scan/report.html?id=e925c6f280997f206dde14285a9a4c6ed61dac8166e1b12d23274c48724c3d0c-1317332404

Originally Posted by Roparadise

I don't think they are a good company, nothing about Bulgaria,Albania and Montenegro. They have some of the lowest tax rates in the World.

Watched 007 Casino Royale yesterday and thought of this post. Montenegro looks so beautiful in that movie. I wonder if you need bodyguards if you are rich and live there?

Originally Posted by StarscreamBeats

Watched 007 Casino Royale yesterday and thought of this post. Montenegro looks so beautiful in that movie. I wonder if you need bodyguards if you are rich and live there?

Most Eastern euro countries are much safer then many parts of the u.s. and Western Europe,so as long as your not flashy you have nothing to worry about.