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Offshore Banking with an Asset Protection Trust - Ebele Kemery
14.12.2016 15:42

An offshore bank account, for expatriates who live overseas, or entrepreneurs of live a global lifestyle, provides easy online access for managing money from anywhere in the world, plus offshore accounts deliver enormous tax savings on offshore investments but the number one reason for an offshore bank account is privacy protection, to arm yourself against frivolous law suits, identity, or the worst risk - over-zealous seizure laws from on-shore governments. The problem is that in recent times the sanctity of privacy from offshore banks has been eroded or diminished.

 

The solution for secure, private, offshore banking is the creation of an offshore asset protection trust (APT), which when set-up correctly will provide the maximum possible tax avoidance allowed by law, with the greatest possible financial privacy, and the highest level of asset protection, plus offer you safe, legal, access to the most profitable investments available.

 

In most cases there is very limited reporting of trust information between the trustee and the regulatory agency of the host country, aside from a simple registration which doesn't include the details of the trust or the names of the beneficial owners and very little of the actual filing information is available to the public, other the date of filing and the name of the trustee. This means that your name is not anywhere to be found and basically the only way a trust can be pierced is by local court order, which rarely ever happens.

 

In the last few years, offshore banking has found new solutions to overcome the problems of loss of privacy. The APT is the key, coupled with online access to offshore bank accounts, giving the customer the ability to wire-transfer money anywhere, in any currency, or to load debit cards and transfer money easily from one private account to another, no-matter what happens with bank secrecy laws in the offshore world.

 

For many people the main purpose of an APT with an offshore bank account is to provide a safety net against the possible collapse of the U.S. Dollar by using the APT structure for holding investments such as gold or interest-bearing deposits and outside of the controls of onshore authorities, just for the security of knowing that a back-plan is in place and a nest-egg is in a safe place.

 

In today's uncertain world, as the laws surrounding offshore banking continue to change, once you're set-up correctly with your asset protection trust and offshore bank account, you'll experience such a peace-of-mind because and you'll know that you've made the right choice in going offshore, to protect assets for the future well-being of your family.

 

Ebele Kemery is a member of the Global Fixed Income, Currency & Commodities (GFICC) Group. Based in New York, Ebele is the head of Energy Investing within the Commodities team. Prior to this role, she provided institutional client relationship management and tailored risk management solutions in the Investment Bank’s Global Commodities Group.

Ms. Ebele Kemery is also a Commodities Leader with a track record of consistently profitable trading efforts, and expanded business through understanding of client needs and developing customized solutions that leverage a wide variety of techniques and market intricacies.

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