What is asset confidentiality
Asset confidentiality enables you to place your assets into a reliable structure that will allow for ultimate privacy and confidentiality, meaning that the assets cannot be traced as your own. This is achieved by transferring ones assets into a trust, and thus transferring legal ownership of the assets from your own name.
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Asset confidentiality explained
Asset confidentiality is something that is difficult to obtain from one’s country of domicile, as they are usually required to declare all income and funds in order for them to be taxed. However many people prefer not to have the nature or location of their funds disclosed and there are a number of ways that this can be achieved.
One of the most popular ways to achieve asset confidentiality is through the creation of a trust. By placing your assets into an offshore trust, you will achieve the utmost confidentiality, as you will be transferring your assets into the trust. Once the trust has been set up and is administered by a trustee, you will no longer have legal ownership of those assets and therefore your personal details cannot be traced back to the assets in any way.
In setting up a trust, asset confidentiality can also be achieved for the beneficiaries, as the information contained within the trust will not be disclosed and therefore their identity will not be revealed.
In addition to trusts, asset confidentiality can also be achieved through the creation of an offshore foundation. Offshore foundations also allow for high levels of confidentiality, as the assets are transferred from the founder’s name (the original owner of the assets) to the foundation. Many offshore jurisdictions offer attractive foundation packages that feature complete privacy from public registry.
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