What are the primary reasons for having wealth placed offshore?
Privacy. Your rights to privacy are all gone in several nations. Asset Protection. To secure yourself against future predatory litigation. (If you earn $50,000 a year or more, you will be sued an average of seven times in your life and this number is growing.) Tax Planning. Advantageous use of foreign jurisdictions and their tax rules for reduction of tax liability. Estate Planning. Family and protective trusts, (possibly as an alternative to a Will) for accumulation of investment income and long-term benefits for beneficiaries on a favorable tax basis.
