Offshore Bank Account
One of the first places to start with asset protection is with a CUTINO INTERNATIONAL/ C.I. offshore bank account in a favorable jurisdiction. A favorable jurisdiction is one in which bank secrecy laws are in place without a lot of loopholes found in many formerly good jurisdictions that have gone bad.
Bank secrecy laws call for prison sentences and/or fines for any bank employee, officer or owner who divulges any information about a bank account or account holder(s). In addition, you would get to sue the bank with their deep pockets for violating your right to bank secrecy.
This generally tends to curtail any leaks of information. The only way the bank can legally divulge any information about you or any bank account associated with you is by court order. Most Latin America Nations have no tax treaties with any country, or allow any fishing expeditions from foreign governments.
In the USA most private detectives have little or no trouble getting bank account information for their clients. Their methods are highly illegal but we never hear of any of them getting prosecuted. There are some offshore jurisdictions, which tout bank secrecy, but there are no laws on the books concerning this matter. This is the case with a fairly popular Caribbean jurisdiction, Belize and sometimes Mexico. Some jurisdictions are better than others, consult CUTINO INTERNATIONAL/ C.I. attorney.
Latin America Anonymous Bearer Share Corporation
With CI we build legal fire walls of protection. In Latin America Nations generally there is no recording of the owners of the bearer share corporation anywhere, when filed by CUTINO INTERNATIONAL/ C.I.
The Latin America government’s do not know who owns these corporations. There is a registry to look such things up with or without any court order. The ownership of the corporation is based on the physical possession of the stock certificates. These corporations are 100% anonymous, CUTINO INTERNATIONAL/ C.I. methods. This means, when wires travel through the various wire systems, no one can determine who the natural persons are behind the corporation. It is like the old numbered Swiss bank accounts except a corporate name is use instead of a number.
If you title real estate to the corporation it makes the real estate anonymous. The corporation can also own boats, cars, collectibles, and stock trading accounts in addition to bank accounts.
Panama Private Interest Foundation
The third piece of your asset protection structure is an anonymous asset trust. One of the nice things about trust and asset companies is they have no owner what so ever, except CUTINO INTERNATIONAL/ C.I. Trust Agents and Officers. They are anonymous and have confidential instructions to carry out the detailed wishes of our clients. It is like a will and trust in one, only better.
Governmental Pursuit of Funds
(in Latin America & Central America particular)
What happens if the government of some country attempts to attach your money in Latin America? The world is full of dictatorships and non-democratic regimes. Well, this again is a different matter. These cases start with a request for information if there is some sort of a treaty with the country. Generally Latin America is only interested in terrorism, human trafficking, child, porn, extortion, fiduciary fraud (bank fraud, selling false gold mines, etc), blackmail, murder and this sort of thing, not taxes. Latin America is not anyone’s tax collector generally, and usually is in no tax treaties. The request is made through the embassy officials in the banks country. It is a formal procedure requiring the requesting country to cite specific reasons for the information, which usually means providing evidence of a criminal case filed in their criminal court system pertaining to a handful of serious crimes.
CUTINO INTERNATIONAL/ C.I. has never lost one of these cases. The country would have to show why they need this information, why it is essential to the case and explain why the information cannot be obtained any other way. Most often a full court trial, which takes years, and 99% of the cases are thrown out of the court.
If a national government requests information regarding a serious criminal matter (that is also a crime in Latin America nation), using the proper channels in government on both sides it must be one of the serious categories of crimes. Then, it has a chance of eventually being complied with assuming they push hard enough.
If it is a civil matter from another country, it will almost assuredly never result in any information being produced. If private attorneys or local (non-national) courts request information or action the chances of anything coming of it are just about zero.
However, if CUTINO INTERNATIONAL/ C.I. suspects such a problem, your asset are moved to another jurisdiction immediately, if you have a International Trust Agreement (ITA) with CUTINO INTERNATIONAL/ C.I..
Tax Haven
Another aspect of favorable jurisdictions is that there is no income tax applicable to you, your Trust / Asset Company or foundation, if you chose to use one. In most Latin America Nations there is no income tax, corporate or personal for offshore derived income. No inheritance tax, no probate tax, no capital gains tax, no tax on bank interest. This of course, eliminates any filing requirements and by default, eliminates any chance of a return being audited. Guatemala Corporations pay only 5% on income made from within Guatemala, and zero for offshore income.
Most Trust/ Asset companies which do not carry out activities within the Latin American Nations and which do not obtain income from a Latin America Nation source, are only subject to the payment of a fixed annual tax. It doesn't get any better than this, even if you have an office, phone in Latin America, Bank Account in Latin America, it does not change anything as long as your income is derived from outside of Latin America Nation. There are exceptions and laws change, but CUTINO INTERNATIONAL/ C.I. will keep you informed. CUTINO INTERNATIONAL/ C.I. can provide full corporate services and use of office space, secretaries, phone, etc.
Examples:
You have a web site and conduct e-commerce and sell goods/services from a Latin America Nation server but to people who are not in your business nation then you are good in that all your income is offshore derived. You are just collecting in a Latin America Nation but the money is coming in from non-national sources. If you make in nation income, ask CUTINO INTERNATIONAL/ C.I. to build the right tax strategy. There is a 3% CI fee on all money wires to cover cost and due diligence to verify the legality of the money.
Offshore Banking Privacy
One of the greatest advantages of having a CUTINO INTERNATIONAL/ C.I. offshore bank account in a favorable jurisdiction is that no one needs to know it exists. The Rockefellers and most of the richest people in the world do it. Why not you. The bank does not check with any credit bureaus or similar agencies since that would violate the bank secrecy laws of their country. The chance of anyone knowing you have the account is pretty low especially if you check your statement online. We always advocate never having bank statements mailed to your home country. Guatemala bank secrecy is very tight, actually the best in the world right now. If a Bank were to release any information pertaining to you and or your bank account without your authorization it would be a criminal and civil penalty they would be facing plus you could sue the bank for any damages as a result of such an occurrence.
CUTINO INTERNATIONAL/ C.I. Corporate and Asset intelligence agents are always checking for bank security and secrecy for your protection. One point of security interest for our clients is that, you must be extremely careful about who you inform about your Trust, Asset Company, Foundation and Corporation. Total secrecy is best.
Opening Offshore Bank Accounts
Today you will need to show some form of identification to any bank in the world to have your name as a signatory or beneficial owner on any bank account. This is a universal treaty that is complied with all over the world. The ID required typically takes the form of a photocopy of a passport and driver license and is notarized and apostilled. The days of unidentifiable numbered bank accounts are long gone, except with CUTINO INTERNATIONAL/ C.I. Trust Asset Companies, Corporations and Foundations, whereby CUTINO INTERNATIONAL/ C.I. act’s in all capacities by ITA. If you hear of a bank that will open an account without identification, rest assured it is not a real bank.
The same also holds true for Visa or Master Card. They always require the same type of identification as the bank account. Anonymous Visa or Master Card’s is something that exists, but talk with your CUTINO INTERNATIONAL/ C.I. Attorney or Trust Agent. Same with corporate credit cards. Now they always have to have a persons name on them in addition to the corporate name. This is mostly so a store clerk can ask for ID to prevent use of stolen credit cards. Special CUTINO INTERNATIONAL/ C.I. corporate credit cards are available with or with out an ID but cost 6% of activity and deposit of $25,000. It is always safer and easier to open up a bank account using a corporation.
Remember, the money in the corporate bank account belongs to the corporation and it will be difficult for a financial enemy to attempt to transfer a personal debt over to a corporation. Just proving you, in fact, do own an Anonymous Bearer Share Company can be a major hurdle that stops a lot of litigation before it starts. Do not tell anyone what you own, except your CUTINO INTERNATIONAL’s officials. Let CUTINO INTERNATIONAL/ C.I. do your talking. It is safer for you.
Having a CI ITA, S.A. or Foundation own the corporation makes this even harder for potential financial enemies. You could honestly then say you do not own the corporation. They will face a tough burden of proof, a statue of limitations, substantial legal expense, years in court and many other obstacles trying to collect personal debts from a Latin America Corporation, Trust and Asset Companies or Foundation especially so when all are created by CUTINO INTERNATIONAL/ C.I. and managed by CUTINO INTERNATIONAL this is via your written instructions.
An asset, such as a bank accounts belonging to Trust / Asset or S.A. or Foundation is not generally sequester able. This means the other side, cannot post a bond and get the judge to freeze the bank account pending the outcome of the trial and impossible for Attorney/ Client privilege and multi jurisdictions to deal with as well.
This means the other side comes to a Latin America Nations and hires an attorney. Here starts the (expensive) action and then guess what, you may be inclined to move the legal assets elsewhere during the trial. If the other side gets a court judgment and you no longer have assets what good does the judgment do them? This is assuming your financial enemies even know about the legal entities. It is not common to see such lawsuits in Latin America Nations.
|
