Benefits of an offshore foundation
Setting up an offshore foundation is one of the best techniques that can be adopted for the protection of assets. Furthermore, foundations also provide high levels of privacy from creditors and other third parties.
DeltaQuest are can assist you in finding a favorable jurisdiction for the formation of your foundation. To learn more, please view our Offshore Foundations page.
Offshore foundation benefits explained
Offshore foundations are the corporate alternative to an offshore trust. They adopt a legal ‘personality’ and can be formed in a number of jurisdictions. They are regarded as a highly effective asset protection solution, and provide an excellent tax planning opportunity.
Offshore foundations are relatively straightforward to set up and are regarded as one of the best ways to maintain financial privacy. Creating a foundation means that once the foundation is established, the owner cannot be linked to it in any way, as there is no evidence of who is the foundation’s owner. The foundation will not appear in any public records or registries and is therefore untraceable.
An offshore foundation requires a mandatory four members to be considered a legal entity. The structure of a foundation is as follows: the founder; the protector; the beneficiary and the council members.
The founder is the individual responsible for the initial formation of the foundation. The role of the founder is to specify who will benefit from the formation of the foundation and for what reason the foundation is being created. The protector is in charge of the foundation and will follow the exact orders as specified by the founder. The beneficiary is the individual who will ultimately benefit from the operations of the foundation, whilst the council members are responsible for implementing and supervising the foundation’s activity and purpose.
Print This Post
