Thursday, July 3, 2008

What's Legal With Offshore Investing

With all the tax witch hunts lately, I thought I'd take just a second to repeat my favorite mantra one more time...

As long as you pay your taxes due and file all IRS reports required, you can definitely still protect your assets by banking or investing in a stronger jurisdiction abroad. Don't let ANYONE tell you differently. Now take a deep breath and repeat after me (IRS please note):

* It is legal to have and use an offshore bank account.

* It is legal to create and donate assets to an offshore asset protection trust or family foundation.

* It is legal to form and operate an international business corporation (IBC).

* It is legal to live abroad and to acquire dual citizenship and a second passport.

* It is legal to end U.S. citizenship and remove yourself from the U.S. tax system.

* It is legal to purchase offshore life insurance and annuities that allowed deferred taxes.

* It is legal to invest in offshore mutual and hedge funds, precious metals and real estate.

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