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Double Bullet Proof Asset Protection

Double Bullet Proof Asset Protection

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Published by Panama Expertos
Our law firm has researched many different ways to protect your assets from financial enemies. Many are quite simple, but are successful means of asset protection.

Our law firm has researched many different ways to protect your assets from financial enemies. Many are quite simple, but are successful means of asset protection.


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Published by: Panama Expertos on Dec 15, 2009
Copyright:Attribution Non-commercial


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Double Bullet Proof Asset Protection
Our law firm has researched many different ways to protect your assets from financial enemies.Many are quite simple, but are successful means of asset protection. Here were introduce worst-case scenarios in which you desperately need to protect your assets and have left out elaboratedetails to make this as easy to read as possible.
Bullet Proof Asset Protection
- The first step in this scenario is to form ananonymous Panama
. There is no owner listed and the stockholders are whoever owns thephysical stock certificates. In this case it will be aPanama Private Interest Foundation. TheFoundations also do not have owners by Panama law, only beneficiaries and a protector. This isthe entity that will be the shareholder. This provides you with the very legitimate defense of notbeing the owner of either the either.Thus, if any official ever were to ask if you were ever the owner or shareholder of XYZcorporation, you can say "no," and it would be the truth. If you ever had to admit that you onceowned the corporation, partially or wholly, you only spur their interest. You want to avoid havingto admit this and make them think they have only reached a dead end - which they have.
Bullet Proof Asset Protection Banking
- The Corporation and Foundation do not have to usethe same bank for their bank accounts, though they can do this and use online banking to sendmoney back and forth without having to create a wire or check trail. The greater part of themoney should be kept in the foundation account because the first place anybody would look forthe money is in the corporate account. It would take months or years to find out about theFoundation and, of course, it would then be your decision to move the funds around or not.Further, a private wire system exists within Panama and includes Panama banks only. This allowsyou to send money back and forth between Panama banks without using the international wiresystem. Plus, since it's all within Panama, it's all then protected by Panama bank secrecy laws. It'seven possible for Foundations to avoid having a bank account in any country.
Double Bullet Proof Asset Protection
- The next level of asset protection is as follows. Itbegins in the same way, with a Panama Bearer Share Corporation owned by a Panama Foundationand you have the same defense, that, no, you are not the owner of any of those entities. Whatyou do not tell them is that these entities do not have owners because that was not the question.You should not answer questions that weren't asked. This is where most attorneys will reach adead end. They were never taught Panamanian law, after all. But if the person asking thequestion happens to understand these laws pertaining to the offshore world, they would then askyou if you are a beneficiary of either entity. This is your answer: "As far as I know, my name isnot listed as a beneficiary of this Foundation." Another good thing to include is that any personcould be listed as a beneficiary and this person be ignorant of the fact. This happens frequently inwills. If it were possible to punish a listed beneficiary for having this happen to them, manypresidents, politicians, and public figures would appear as beneficiaries of Foundations all over theworld.If, at this point, the questions continue, say that they should ask the Foundation these questions.The lawyer will have to deal with this, and that is the catch. But we are getting ahead of ourselves. You should never say that you are a beneficiary because they will contend that thewhole structure is just a straw man setup, meaning a fraudulent way to control these assets andyet not actually own them. We don't mean to say that this will hold up in court, just that it'ssomething they can try. After all, your name is not in the public registry nor on any documentsthat they would have access to.
But wait, it gets better. We can form a second foundation for you that is the beneficiary of thefirst (the shareholder of the corporation). And so, if you are questioned, you would not be asked if you were the beneficiary of the second foundation (which you could be), only the first. In thisway, you are still answering honestly in court or on the record and are even more protected.
Asset Protection Bank Signatory Considerations
- Another question that you could eventuallybe asked is if you are the signatory of the corporate bank account or a Foundation's bank account.One thing that we can do is form a custom agreement that will make you an employee of thecorporation of foundation. It will describe compensation, duties such as accounting and being thesignatory on the account as part of the job, and other responsibilities. The nominee directors ornominee council members will sign and notarize this document, and apostille it if necessary. It iscommon with major corporations for the signatories for the corporation to not actually be theowners. For example, if General Motors was being sued and an accounting manager was thesignatory on the account, this manager would not be personally liable for the General MotorsCorporation. Think about this structure. You don't own either structure and, as part of your job,you sign on the account. Welcome to Panama.
Asset Protection Banking Weak Links
- The breaking point in this scheme will always be themoney trail, more specifically, the signatory on the account. Anything in your home country willbe open for evidence, usually after only flimsy accusations. If a lawyer was able to subpoena yourbank records, it will soon become obvious that you have been sending money to an offshoreaccount. This can also become public record, so it's wise to fight to get these records sealed.So now what? They will be onto the trail and your defense is significantly wounded. An effectiveway to guard against this is to use an attorney-client trust account. Using one of theGuatemalaLaw Firm bank accountprovides a very high level of security and protects against any kind of taxinformation exchange agreements being signed with the United States by either of thesecountries. As your Guatemalan law firm, we create a privateTrust Agreementw
ith you thatprotects both you and us. The money can then be moved from this account to another bankaccount in another bank or country, as per your wishes. We buy real estate, financial instruments,boats, etc., for you with this money.A secure way to do this is to have a bank account in the same bank as the trust account so thatmoney can be sent without using an international wire system. You can send wires with yourcorporate account's online banking, credit cards, debit cards, etc. Inquiries about the money sentto a law firm could be answered with "attorney client privilege." To obtain this informationattorney-client privilege would need to be broken in a Guatemalan court. This would not happenunless there was serious evidence against you that you committed a crime that is a criminaloffense in Guatemala. For example, murder, kidnapping. Tax issues are civil cases in Guatemala.Burden of proof is on the inquiring party, not the judge, who is a neutral party, and not you. It isa dead end case, especially if they cannot get the evidence lawfully.
Additional Protections
s a private document between you andthe corporation and foundation. It forbids you from revealing information about said entities underpenalty a one million dollar judgment. This is enough for a Panamanian court to enter a summary judgment against you for this amount as well as prosecute you for breeching this agreement. Youcan show this document to a court of law if questioned. They cannot force you to expose yourself in this way by international law. Only Panamanian courts could grant you immunity, not any othercountry. You could say that you would sue the prosecuting lawyer if he tries to compel you tobreak this contract and will collect damages from his malpractice carrier. The last two words arethe key words here. He knows that his rates will rise and they may refuse to do business with himentirely. He will likely judge that it's not worth it to do the research and get himself out of it, if hecould even do that. It's not uncommon to see international lawyers charge more than $600 per

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