FROM OFF-SHORE TO ON-SHORE:
The “OFF-SHORE ASSET AND WEALTH SAVING CONCEPT”
No way out for off-shore assets
In addition to the locations such as Europe or the United States, which offer high levels of security but are also strongly regulated, many small off-shore countries are interested in the “import” of assets by wealthy private persons. Some countries have incorporated the safekeeping and administration of assets into their business models. Through tolerant financial rules or “creative exception regulations”, assets can be relocated to these countries even today. According to an OECD estimate, more than US$ 17 trillion is “parked” by companies and individuals in off-shore countries. This corresponds to 10% of the world gross domestic product (GDP)!
Indeed, in addition to possible doubt concerning sustainable legal certainty or political and economic stability, there is a question of the mobility of the assets to these locations. Put another way: how can you retrieve your assets from these countries? For example, if you sell a property or securities in Spain, Portugal or Germany, you can transfer the revenue anywhere in the world in a few hours by simply submitting the sale documents. If the same revenues are transferred from an off-shore country to a regulated location, however, this transaction involves substantial effort or may even be impossible.
Here you can download the guide and broshure Asset Protection & Relocation.
A TIME BOMB FOR BENEFICIAL OWNERS
Over the years, some clients have placed a portion of their assets in off-shore companies or private off-shore accounts in a wide variety of locations and for many different reasons. Sitting in “tax paradises” like the British Virgin Islands, Panama or the off-shore locations popular with Europeans, including Liechtenstein, Andorra, Cyprus or Malta, are funds by the millions that effectively cannot be put to economic use, since a transfer to regulated countries is not possible.
Off-shore assets, if not declared by their beneficial owners, are simply “dead capital” for these owners due to their lack of mobility. Not only that, but they constitute a tax and criminal time bomb. As exemplified by the “Panama Papers” scandal, there is no longer any “safe location” for hidden off-shore assets.
PRESSURE ON THE REGULATED COUNTRIES IS GROWING –
THE OFF-SHORE CONCEPT AS A LOCATION FOR ASSETS IS OBSOLETE
Due to the high pressure and increasingly stringent laws in the regulated states on matters such as the use and transfer of cash, it is simply a question of time when the legitimacy of off-shore systems will become completely superfluous. Some major banks that had managed assets in off-shore locations for many years are now pulling out of these regions, and small local banks are closing. Indeed, we foresee a surge of dissolutions of financial institutions at off-shore locations. What will happen to the assets “parked” there is open to question!
OFF-SHORE ASSETS WILL INCREASINGLY POSE A DILEMMA FOR BENEFICIAL OWNERS
Legal certainty in off-shore nations - that is, the possibilities for asserting legal claims through the courts - is slight. For beneficial owners of off-shore assets, an additional problem is that they cannot personally appear to defend their claims, since to do so would require them to give up their anonymity, which in turn can present risks in their country of residence.
It can also be problematic to bequeath off-shore assets. We offer support in inheritance situations where the transfer of the bequest is highly complicated because the inheritance was not worked out in advance. Assets were awarded and bequeathed that cannot be utilized. Accepting the bequest of an off-shore asset also means exposing the inheritor to the risk of criminal tax liability.
De Micco & Friends handles bequests of off-shore assets by arranging for the legal implementation and transfer of your inheritance.
The solution: establishing safeguards through the transfer of off-shore assets and wealth
This is still possible! Off-shore assets can be transferred and secured through systematic and legally protected transfer to regulated locations. De Micco & Friends has not only developed concepts but also built structures to facilitate the legal transfer of off-shore assets. Naturally, we strictly observe all current anti-money laundering and counter-terrorism regulations.
International asset transfer is a complex subject that involves taking many aspects into consideration. Take advantage of the experience of De Micco & Friends to protect your assets. De Micco & Friends secures and transfers assets around the world – FROM any location TO any location. You receive a virtually ready-to-execute plan that is safeguarded with regard to laws and tax regulations, and you benefit from our practical implementation of this concept.
The time to act is now! Describe your situation to us. We will analyse your case and prepare an individualised plan for you. We accept and oversee mandates for amounts beginning at 10 million euros.
PROTECTION OF ASSETS AND WEALTH
MANAGING YOUR PROJECT
All international asset transfer clients are personally advised and represented by our senior management. Of course, this is done with maximum discretion. From the start, you are assigned an individual experienced contact partner to represent your interests and achieve your goals.
Besides the need for a great deal of experience and precise knowledge of local, tax-related and legal conditions, excellent contacts with banks, institutions, authorities and governments are also required. De Micco & Friends places its worldwide network at your disposal.
Our experts in international asset transfer are able to travel the world at short notice and without restriction to visit clients at their location at any time. Depending upon the urgency, we even visit and counsel our clients in crisis areas or war zones.
Please do not hesitate to contact us regarding any questions.
We look forward to making your acquaintance!
Here you can learn more about protection of assets from crisis areas and war zones.
WE CONNECT AND MANAGE BUSINESSES, IDEAS AND PEOPLE BETWEEN EUROPE AND THE WORLD
Please contact us for further information.
Phone: +34 871 955 077 | eMail: office@demicco.ch
