More than 50,000 Americans use asset protection from the Swiss Banks tells something of the nature of this business. It is perfectly legal. But some politicians rail against this Swiss Secrecy
Despite websites with some apparent experts claiming to tell everyone who reads it that it is illegal and run for the hills or an American bank in this case, there are many more websites around the world saying otherwise, and they proudly display the effectivenes of such a strategy as an asset protection strategy. That offshore banking is illegal is really a made in America and some wealthier nations’ claim, but which are really surrounded with controversial bullying of very small nations. Money laundering has actually been used as the reason for offshore banking and found to be largely misleading.
Sometimes, it seems attempts by politicians can go too far to the point of insulting our international allies and insisting they toe the American line. In short, hand your country to us because we demand so – or else. There’s always something ominous behind it. But there are times the agressor may have egg on his face. Sovereign Countries like Switzerland are not just going to let their way of life go to hell in a hand basket.
Tell, me what you think about your lot if you could have total privacy? Remember, how many are really illegally doing so?
Technorati Tags: Asset Protection
Tags: Asset Protection
Posted in Asset Protection, Bank Secrecy, Personal Bank | No Comments »
Poison Pill Effect Deters Corporate Predators.
The Poison Pill. Sounds like a suicide attempt. Well, it really only is, in this context, about a corporate raider. It’s an almost forgotten term until I met a lawyer to help me reorganize some of my assets one day. It was obvious more asset protection was required to combat new negative developments in corporate laws.
The Poison Pill was really a term borrowed from those Wall Street Geniuses in managing their assets through a protection clause or structuring their corporation from a take over or a corporate raider. You could say, that because of the more modern laws governing public corporations, this method of “Poisoning the Corporate Raider” against hostile takeovers often became the method of choice against unfriendly takeovers.
And lo and behold, new laws were created which also allowed the smaller and also often privately held companies to organize their assets in a similar way. In fact, a growing number of businesses do so today to dissuade would be lawsuits. This method is being used widely by smarter business lawyers where they will structure for their clients’ businesses in such a way that:
1) Sometimes all the lawsuit wins against the company is an empty shell with almost no operating assets at all – it is just a shell to operate the business but ownership may be an “Offshore” company for example.
2) Thus, making the actual business assets impossible or really difficult to get at and the potential of leaving the plaintiff with mega loads of expenses, taxes and debt makes it unsavoury or even dangerous – thus the Poison Pill effect.
One does not need to actually use an offshore company for this purpose but a sharp business lawyer can set up your corporation/s to protect you as much or as far as you need to do so.
Remember the phrase “Posession is 9 tenths of Ownership?” Well, keep the assets out of anyone’s reach, including the government. But be very careful that this is done legally, despite the moral public pitch of the respective big governments who often claim that smugglers and money launderers use offshore tax havens.
The truth is, all investigations have found extremely small numbers of accounts that are really “illegal”. This flies in the faces of the complaining governments when their own investigations turn up a higher frequency of fraud and money laundering within their own borders.
Taken to the Cleaners
I dare say that every single one of the big guns in business make use of severe asset protection and often use the poison pill merger or takeover prevention, except for a very few I know – who actually have been in the news in the past several years, being taken to the cleaners because they failed to adequately protect their assets.
The truth is, every major country (Really mostly the G 8 but have lately included some other countries like China and India ) make it seem illegal or immoral. This has been going on for centuries and is not likely to stop any time soon.
So, let’s get back to the point. If you own significant assets, or if you have a business that is running well and have not protected yourself and your assets, you will be well advised to do so right now. Who knows which predator is awaiting to pounce.
So, in knowing that it is next to impossible to get anything out of you; knowing that they will likely be saddled with all sorts of repayable debts and they can’t hold you responsible while you still run off laughing to the bank; and that they may not even win; do you think anyone will think lightly to want to go after your company?
Just remember, do it all legally – otherwise, you’ll get into very hot soup.
Note:
The situation in each country is different and it will be wise to find a reputable expert within that country to do this structuring for you.
Technorati Tags: Asset Protection, Hostile Takeovers, Poison Pill, Poison Pill Merger, Wall Street
Tags: Asset Protection, Hostile Takeovers, Poison Pill, Poison Pill Merger, Wall Street
Posted in Achieving Financial Freedom, Offshore Tax Haven, Poison Pill | 2 Comments »
