Offshore Foundation Setup - A Comprehensive Guide
What Is an Offshore Foundation? An offshore foundation is a legal entity established in a jurisdiction outside of your home country. Unlike traditional companies, offshore foundations have no shareholders and are typically set up to manage assets, ensure asset protection, and achieve tax efficiency. They are often used for estate planning, charitable purposes, or managing family wealth. Why Should You Set Up an Offshore Foundation? Setting up an offshore foundation offers several advantages. It provides privacy, asset protection, and flexibility in managing wealth. Offshore foundations are commonly used for: Protecting assets from lawsuits or creditors. Reducing tax liabilities. Planning the succession of family wealth. Supporting charitable causes. How Does an Offshore Foundation Work? An offshore foundation operates under the legal framework of its chosen jurisdiction. It is governed by a foundation charter and regulations. The foundation typically has the following structure: Founde...