Harbor Financial Services | Financial Offshore Client Profiles

Below are several examples of how offshore tools and techniques can be applied in specific scenarios to regain privacy, protect assets and get out from under regulatory quagmire. These are just a few examples, not an exhaustive list. There are many situations where going offshore can be of benefit. If you have any questions as to whether or not going offshore would benefit you, please feel free to Contact Us and a representative will be happy to discuss your situation.

Jim is concerned about his financial privacy. He knows that every transaction he makes at a bank is recorded and stored. Any time that he buys or sells a stock his brokerage keeps a record and sends it to the government. Credit agencies keep an active list of his credit card and loan accounts. He has reached the point where he is tired of everyone being able to know every last detail of his financial affairs. Through the use of an offshore structure Jim was able to move his bank and brokerage accounts offshore, obtain an offshore debit card, and do his banking and investing in privacy. He no longer needs to be concerned about who might have access to his personal financial information.
Steve is a physician. Since he began practicing medicine, the threat of losing everything because of a spurious lawsuit has hung over his head. Steve overheard a colleague discussing offshore asset protection and decided to do his own research. What he discovered was that offshore tools could be used to help prevent a lawsuit from happening and could effectively keep him from losing assets should a suit actually be filed. Steve sheltered his earnings using offshore methods and can now sleep easier knowing that his life’s savings are protected.
Mary founded a successful marketing company 12 years ago that has grown from 1 employee to over 50 employees. Unfortunately, one of Mary’s senior managers has become disgruntled and is creating problems for other employees and has caused situations with clients as well. Mary knows that she has to act decisively and fire the senior manager but fears that the manager may become vindictive and file a lawsuit against the company and her personally. A lawsuit could cost her precious time and assets that would be best spent turning a profit. To ensure that she keeps the assets she has earned in 12 years of business, Mary decides to put her business and personal assets into an offshore structure. Mary now knows that if her (about to be former) manager hires an attorney to search for her assets, the search will reveal that Mary has very little – making her a very unattractive target. Furthermore, should a lawsuit be filed, Mary knows that her assets have been structured properly and can’t be taken from her – even if she loses.
At the age of 45, Peter is getting married for the second time. He founded a very successful business 10 years ago and his net worth is higher than it ever has been. Prior to starting the business he now operates, Peter was married and divorced. When Peter’s first marriage ended, he lost most of his life’s savings. Going into his second marriage, Peter is determined to keep what he has earned, should his second marriage not work out. Peter explored using domestic tools to protect his earnings but also researched going offshore. He found that placing his assets offshore provided superior protection when compared to domestic options. Peter decided to place his earnings offshore where they would be safely out of the reach of any judge in his home country. Peter can now rest easily knowing that if his second marriage takes the same path that the first one did, his finances will be secure.
Bill is an upper level corporate manager whose net worth makes him highly sought after by various types of sales people. After the umpteenth Monday evening telemarketing call from a prospective financial advisor, Bill's family had had enough. Bill investigated going offshore and discovered that moving the bulk of his finances into an offshore structure would very effectively make his net worth appear smaller, making him a much less attractive target for telemarketers. In a matter of weeks, Bill moved his savings and investments offshore and removed himself from the telemarketers' radar screens.
Kim wants to form a mutual fund. However, she lives in a country that has excessive securities regulations. Complying with all of the rules and requirements would be very expensive and would ultimately result in lower returns to those who invest into her mutual fund. Rather than fighting a mountain of red tape, Kim decides to form the mutual fund in an offshore location where there are little or no securities regulations. This allows her to form and operate the mutual fund with very low overhead and pass nearly all of the returns onto her clients.
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