How to Legally Pay Less Taxes ▶ • How to Avoid Millions ...
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Summary of this video:
💰 Protecting Wealth Legally
- Protecting multimillion-dollar assets legally involves strategies such as trusts, overseas accounts, and entity structuring.
- Trusts in jurisdictions like the Cook Islands offer robust asset protection with considerations for tax implications under different nationalities.
- Setting up a trust abroad requires compliance with local and international tax laws, ensuring transparency with tax authorities.
🛡️ Protecting Assets with Overseas Trusts
- Establishing a trust in the Cook Islands provides secure asset protection, albeit at a considerable cost.
- Assets held in such trusts can be safeguarded from legal actions and financial liabilities, adhering to jurisdiction-specific regulations.
- Utilizing Swiss and Liechtenstein banks alongside these trusts enhances privacy and financial security for high-net-worth individuals.
💼 Safeguarding Wealth with Crypto and Vaults
- Hardware wallets offer secure storage for cryptocurrencies, ensuring protection from hacks and unauthorized access.
- Storing hardware wallets in private vaults in trusted jurisdictions like Singapore or Dubai adds an extra layer of security against physical threats.
- Cryptocurrency assets held in this manner remain protected from governmental scrutiny, provided all transactions are legal and transparent.
🏛️ Establishing Foundations for Asset Privacy
- Foundations established in jurisdictions like Abu Dhabi provide a private structure for owning assets without public disclosure.
- Multimillionaires often use foundations to hold properties, vehicles, and other assets discreetly, enhancing asset protection strategies.
- Comparatively, trusts in locations like the Cook Islands may offer more comprehensive legal protection against civil lawsuits and personal claims.
🗃️ Complex Entity Structuring for Asset Protection
- Layering ownership through companies and trusts creates intricate structures that deter legal challenges and asset seizures.
- High-net-worth individuals often utilize complex ownership arrangements to safeguard assets, requiring specialized legal expertise.
- Incorporating entities in multiple jurisdictions, including secure banking in places like Liechtenstein and Singapore, further fortifies asset protection strategies.
DISCLAIMER: This video is not tax and/or financial and/or investment advice. Any information or advice I give is purely based on my own experience and research. I am not a tax professional and/or lawyer and/or accountant so I am not liable for any steps you take to lower your taxes. I'm not a financial advisor nor do I pretend to be. Always do your own research.
Негізгі бет How to Legally Protect Millions of Dollars
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