July 29, 2018 Nicole Silver

HOW THE OFFSHORE MARKET CAN BENEFIT YOU

BY NICOLE SILVER

The international market provides many opportunities for people to tailor their estate, wealth, tax planning, international trading and international investing to suit their lives. Let us provide an example of how the offshore world has been tailored to suit our client’s requirements.

Molly is a physician in the US, she runs her own practice and has substantial wealth held onshore including real estate, medical practice and investment accounts holding shares and bonds. Molly’s main concern is asset protection because of her medical practice. It is common for clients to sue their practice and the owners. Molly is a single parent with three children. She wishes to create and maintain family wealth, which will thrive beyond her life and provide for her children and their children.

In order for the offshore market to best benefit Molly, Southpac assisted Molly with establishing an Offshore Asset Protection Trust in the Cook Islands, the beneficiaries of the Trust were Molly, her children and her children’s children. Southpac as Trustee then established an investment account in Switzerland which now holds her offshore investment account holdings. With the help of very experienced asset managers, the Trust account is outperforming the onshore account. Molly was also able to transfer the ownership of her freehold home in the US to the Trust. Now the majority of Molly’s wealth is held offshore in the Cook Islands Trust and her assets onshore are limited to her medical practice. This provides Molly with excellent asset protection for her personal wealth and the structure has also doubled as estate planning for her children and grand children.

Molly’s case is an example of how the offshore market can benefit a person who is worried about their assets and potential litigation because of the industry they work in.

Mark on the other hand is retired, he is concerned about his estate and the global financial crisis of 2008 where he lost the majority of his savings. Mark is interested in investing offshore in a number of different investments including precious metals, which he believes is the most secure investment as an alternative to the fiat. He is also fascinated in exploring the cryptocurrency market. As Mark is retired he believes he needs to regain and secure his wealth so he can provide for his family when he is no longer here.

In order for the offshore market to benefit Mark, Southpac assisted him with establishing a Cook Islands Trust and LLC structure. The Trust beneficiaries included Mark, his wife, their children and grandchildren. Mark was appointed as manager of the LLC. Southpac assisted Mark with establishing a bank account for the LLC which had a trading platform where he could actively invest in different financial markets including the US. Southpac also assisted in establishing an account with New Zealand Vault to purchase and hold precious metals in New Zealand. Mark was able to establish a cryptocurrency account for the LLC which enables him to invest in alternative coins.

Mark, now in his retirement has a clear estate plan in place for future generations. He sleeps well at night knowing that his family will be provided for after his passing. While in retirement he enjoys having the control over the assets and investing the Trust Funds in a diverse worldwide portfolio.

These two situations are classic examples of how Southpac is consistently working with our clients to make sure that the offshore market is benefiting our client’s the best it can. Whatever the reason a client wishes to work in the offshore market we can find a structure that best suits their needs.

Nicole Silver

Nicole Silver graduated from the University of Waikato in 2016 with a Conjoint Degree majoring in Law and Psychology. She joined Southpac Group in early 2017. With previous experience in Employment Law, Nicole has transferred this contractual knowledge to ensure quality legal service to all Southpac Group clients. Nicole enjoys working closely with each client to ensure the ultimate comfort and satisfaction with Southpac Group managing their affairs.
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