Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.
It is a transfer of your assets to a legal entity, e.g. from an individual to an offshore IBC. That way, you are no longer a legal owner of your assets and it is more difficult to successfully sue you. The control over your assets still remains in your hands, whilst your assets are under the protection of tax haven legislation.
