How to Choose the BEST COUNTRY to Set Up a Trust (2021)

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You are thinking about going offshore to set up trust and protect your assets but you don't know where to go. In this video, we are talking about your options in 2020 when it comes to good countries for setting up a trust.
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We are Offshore Citizen team. We help people become global: get a second passport, set up a second residency, pay less taxes, do banking abroad, etc.
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Author: Michael Rosmer
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[@jeremyleonbarlow]

The problem with the US based trusts for non-Americans is over $60k in a US brokerage or bank account equals potentially a 40% federal estate tax.

[@william5862]

You're a human diving rod . I was looking for info on this . Thank you so much . Love your content

[@OffshoreCitizen]

You're welcome, William! Happy to be of service☺ Anything else you'd like to see?

[@vace8914]

@@OffshoreCitizen if I may, I'm looking for something to help folks recieving public/state pensions like regular or disability pension to save taxes, in Kingdom of Denmark tax are 38-50% for pensioners, its literally killing them.

[@timecrook1003]

Awesome. The "situs" debate! Ive heard South Dakota & Scotland are phenomenal jurisdictions. Labuan as well. Do you have a template/pdf declaration w/ such jurisdictional clauses?

[@michaelgreen5515]

I really like how you don't favour and specific jurisdiction it's all depends on the clients situation and circumstances

[@OffshoreCitizen]

Yes exactly never any one size fits all

[@eileencarman9752]

Interesting information about Trusts.

[@jusrarsh4109]

Nice.

[@OBERHighCommand]

Thank you! Very helpful

[@OffshoreCitizen]

You're welcome, what was most helpful for you?

[@michaelmyers6682]

Y

[@gainz6180]

Right, what about countries that can make a trust/foundation for russian citizens in 2023? Ideally money safe from seizure due to sanctions on russians etc… Just the country names so we can quickly look into them and eventually get in touch with you if really interested to continue with one of those countries

[@OffshoreCitizen]

Essentially any country can do it for Russians but that doesn't mean you'll be able to get banking & also won't necessarily prevent anything due to sanctions For that it's about much more than the country for a structure it's all the nuances of how a trust is created

[@gainz6180]

@@OffshoreCitizen the nuances… like what? If a person is a beneficiary of a Panamanian foundation for private interest, the beneficiary lives in Italy full time. The foundation has a USA LLC with an account on IBKR to make capital gains over time with stocks and banking with Wise and others. Would it be okay if the benficiary uses a debit card of this llc owned by the foundation on personal purchases at super market for example or would it be something not to do? How to transfer the cash from foundation to beneficiary then? If the beneficiary a couple years later marries someone and eventually divorces, this foundation as is would provide protection correct? Also would italy be able to tax the capital gains the trust makes since its sole beneficiary lives in italy? Or maybe they can only tax whatever smaller amounts of money that are sent from the trust to the beneficiary over time correct? Allowing the cash to grow with little to no tax between the investments in the broker account since the residence of the beneficiary shouldn’t impact the tax rate of the foundation or its llc right? Are we able to take money out from the foundation and send it to the beneficiary whenever we want? Any amounts even the full cash amount? Thanks for the great work you do on the channel

[@TheDost56]

Worth watching

[@OffshoreCitizen]

Thank you! Anything else you'd like to see on our channel?

[@johnluddell5543]

Thank you for the video. Very interesting! I am interested in opening a trust for taxation optimisation. I guess I need anonymity and good banks? What countries' jurisdiction do you recommend?

[@MichaelRosmer]

It's not so simple like that. Trusts can have 3 jurisdictions: - Registration - Administration - Adjudication When you're talking about taxes it's really complex. You need to get into the details of how the trust is funded, managed, held, distributed. It's very easy in many countries to mess it up because they've got rules against a lot of what you'd normally think to do. Australia for instance has 4 separate anti avoidance provisions. Every case is unique. The best if you'd like to go over it is to book a call calendly.com/michael-rosmer?month=2021-03

[@johnluddell5543]

@@MichaelRosmer Thank you. I could book a call, but my concern is that the costs of setting it up would be high. So it would not be worth it. I would set up a trust to reduce taxation. So if it costs AUD 10,000 to set up, it's not worth it.

[@OffshoreCitizen]

Yeah then it's not worth it for you. You need to be able to save at least 40k/yr in tax I'd say so if your taxes are below that not worth it.

[@kylebell7879]

Cook islands

[@micomarinas2753]

is your services applicable here in the philippines for offshore asset protection and llc?

[@OffshoreCitizen]

Yes, though no matter where you are you need to take into account how the local rules will play into this. The best is to reach out and we can go over your specific case.

[@susanp9015]

I have grandchildren in New Zealand, I am in USA Pennsylvania. We want to set up a trust for the children in New Zealand, assume it should be set up in New Zealand? Can we be administrators of the trust here in the USA or would we need to make someone in New Zealand administrator?

[@OffshoreCitizen]

Not a very safe assumption. Lots of nuances to this determination best to get thorough consultation and analysis on this

[@WEJIII]

how is Bermuda for a family trust?

[@OffshoreCitizen]

Not especially a great place, would recommend other options but very personal so best to reach out to discuss specifics.

[@jacobjonz]

If i were to start a business in Netherlands and would want to setup a trust for tax savinvs and asset protection, where should i go with? Also, I saw you mentioned that if its not more than 40k of savings, its not worth it. The initial numbers are going to be less. So, if i start a holding company from netherlands , under my name and if i were to move it to trust ownership later, how easy and costly would it be? Will it cost additional tax dollar at the time?

[@OffshoreCitizen]

Probably best to reach out to discuss all the details of your specific situation and conclude on the optimal solution

[@rj9980]

🤙🏽