10 BEST STRATEGIES FOR GOING OFFSHORE: PERSONAL AND FINANCIAL LIFESTYLE CHANGES
How, exactly, does an individual “go offshore?” Essentially,
most people who do so are taking the step of moving part or
all of their finances, investments, and assets offshore while
still maintaining their lifestyle in their country of citizenship, such
as the United States. This is the most common and simplest method,
and this alone will provide the benefits that most people seek in
going offshore.
A further option exists that a growing number of people, including
250,000 Americans each year, are choosing: They take, not just
their assets and investments offshore, but their families, too, by leaving
their home country and creating a lifestyle elsewhere as a happy
expatriate (expat).
Whether you wish only to protect a few assets and reduce your tax
burden, or are interested in the big leap as an expat or something in
between, a detailed view of all the options follows here.
The ultimate goal is to reduce taxes, protect your assets, secure
your investments, plan for retirement, and preserve your personal privacy
and sovereignty. Sounds like a lot to accomplish, but, if you have
the desire and use this book as a road map, you can get offshore
today—safely and legally.
The choices you make in this process will be determined by what
you are hoping to achieve. Nearly anyone can benefit from having an
offshore bank account, which provides a fast and simple means for getting
at least part of your finances and assets offshore without timeconsuming
planning. And in the right banking haven, your money will
receive ironclad protection from lawsuits, creditors, angry spouses, or
unexpected surprises from your own government. Think of reasons
you want to protect your money. With the simple act of, say, opening an
offshore bank account by mail, you have made a significant move to financially
protecting yourself and your family. With this account in
place, you will have tremendous banking and investment resources at
your fingertips and utmost confidentiality. You can even seek out non-
U.S. investments not normally accessible to U.S. investors and keep
your money in a foreign currency like the solid Swiss franc, or multiple
foreign currencies, thereby hedging against the declining U.S. dollar.
The difference is your gain.
Without leaving your armchair, you can take numerous and relatively
simple steps to go offshore and instantly avail yourself of exciting
new opportunities. Aside from opening an offshore bank account,
even the smallest investor can benefit from many safe and lucrative
investments not found in the United States. These can provide a secure
offshore nest egg that will grow while you sleep, with a high degree
of asset protection and without complicated and expensive
financial planning. In the pages that follow, I describe a wide range
of offshore opportunities, most of which are available to you without
leaving the comfort of your living room.
Part Two of this book is aptly named “Building a Solid Offshore
Financial Fortress.” You have already taken the first step by recognizing
that reading the information explored here may provide solutions
to your concerns. Now is your chance to take the next steps to securing
a better future, and getting started takes little effort.
Be prudent: Keep your plans to yourself. Don’t advertise your intentions.
Share only what is necessary to accomplish your goals for
your personal life and business affairs, whether it be with family,
friends, neighbors, business associates, or the professionals whom you
engage. Some things will be necessary to share to get the expertise
you need, but stick to the point. The old adage “loose lips sink ships”
applies here. Insulate your affairs like a submarine, compartmentalizing
your activities for better protection, and keep the details to yourself.
In this arena, like most of life, you never know what might turn
up to haunt you later. Going offshore, financially and physically, involves
major steps for accomplishment, as we shall explore, but in no
way would acting less than prudent be wise. Au contraire.