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Frequently asked questions about going offshore

What does it mean to “go offshore”?

Is there minimum dollar amount necessary to go offshore?

Is going offshore only for people with business assets?

What does EDG offer that other offshore providers don’t?

Do any regulations forbid foreign business or banking?

Do I have to travel to "go offshore"?

What offshore country is the best to form an IBC in?

What is an acceptable name for an IBC?

Is offshore banking safe?

Can I bank online offshore?

Who controls the offshore accounts?

How do I bring money back from offshore?


What does it mean to “go offshore”?

To “go offshore” simply means to place assets (bank accounts, brokerage accounts, etc.) outside of one’s home country. Going offshore also includes forming an offshore structure such as a company or trust, and placing domestic assets (car, home, real estate, art collections, etc.) into that structure.

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Is there minimum dollar amount necessary to go offshore?

No.  There is not a minimum amount necessary to go offshore. It is possible to place anywhere from a few hundred dollars to hundreds of millions of dollars offshore.

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Is going offshore only for people with business assets?

No.  Offshore tools may be utilized to protect personal assets (as well as restore personal financial privacy and provide protection from personal lawsuits) just as effectively as they can be used to protect business assets.

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What does EDG offer that other offshore providers don’t?

1.  Experience. EDG has set up hundreds of offshore companies, hundreds of offshore trusts, hundreds of offshore bank accounts, etc. Put simply: We’re not novices; we know what we’re doing, and we use our experience and knowledge to take very good care of our clients. 2.  Multi-jurisdictional approach. EDG is not bound to using one jurisdiction only and thereby forcing clients to put all their eggs in one basket. We use the best services offered in the best offshore jurisdictions to insure that our clients get the best of all worlds and have the strongest protection and privacy to be had anywhere on the planet. 3.  Communication. Many of EDG’s competitors have little or no contact information on their websites other than an email address. Not so with EDG. Visit the contact EDG page and feel free to contact us directly through the website, call, send an email or fax or schedule an appointment to visit in person.

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Do Any Regulations Forbid Foreign Business Or Banking?

Absolutely not. Most countries encourage international trade and investment. As such, there are virtually no regulations forbidding citizens from doing business or having bank accounts in other countries. Should any major country ever forbid foreign banking or investing, international trade would quickly grind to a halt. This would cripple the world economy. Therefore, major countries will likely never forbid foreign business, banking or investing. Rather, sophisticated and knowledgeable individuals and corporations all over the world have used and will continue to use offshore tools.

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Do I Have To Travel To "Go Offshore"?

No. EDG interfaces with offshore institutions to form IBC's, open bank and brokerage accounts, forward offshore mail, etc. so that clients don't have to leave the office to go offshore.

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What Offshore Country Is The Best to Form an IBC In?

There are many countries all over the world that are considered "offshore jurisdictions". The question is not, "which is the best", but "which is the best for a particular situation". Several factors are important. First, the offshore countries under consideration must have strictly enforced privacy laws. Next, English must be the main language, the judicial system must be based on British Common Law, the country must have a long history of political stability and must be completely independent from one's home country. This narrows the field down to Belize, The British Virgin Islands (BVI) and Nevis. Each of these jurisdictions forms completely private IBC's that are authorized to do business worldwide (except in the country of incorporation). An IBC formed in one country is just as private and functional as an IBC formed in any of the others. Therefore, price becomes the final criterion. Belize, Nevis and The BVI (in that order) are the most reasonably priced jurisdictions. It is these three countries that EDG recommends to clients, regardless of the client’s home country. An IBC in any of these locations will be perfect for helping clients regain privacy and protect personal and business assets.

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What Is An Acceptable Name for An IBC?

An IBC may be named nearly any name its founder desires. There are very few restrictions. The name of an IBC must end with "Incorporated", "Limited", "Corporation" or the abbreviations "Inc.", "Corp.", or "Ltd.". Names that include "trust", "bank", "banc" or "insurance" require a government license. Other than these limitations an IBC may have virtually any name. An IBC name may include numbers and symbols.

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Is Offshore Banking Safe?

Absolutely. EDG can recommend established, reputable, rated (by Moody's and Standard & Poors) banks that have been in existence for 100 years or more, have over $20 billion in assets and have proven themselves to be service oriented. As long as accounts are opened at a bank EDG endorses, an individual's or corporation's money will be safer offshore than it is onshore.

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Can I Bank Online Offshore?

Yes. Some of the banks that EDG has relationships with have complete online banking services.

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Who Controls The Offshore Accounts?

You do. The client is in complete and total control of all accounts at all times. His/her signature is the only one that appears on any bank or brokerage accounts and no one but the signor may use or access funds in the accounts.

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How Do I Bring Money Back From Offshore?

There are four ways to bring money back from offshore:

1. Money may be wired directly from offshore into a domestic account.

2. Offshore banks and brokerages issue Visa/MasterCard debit cards and secured credit cards to account holders. These cards may be used to make purchases from merchants or to withdraw cash from an ATM.

3. The foreign company (IBC) or trust may purchase real estate, cars, businesses, etc. Typically, the founder/client acts as an agent of the IBC or trust to purchase assets on its behalf. By this means, assets are held under a corporate or trust name, thus helping to protect the client's privacy.

4. The client may borrow funds from the corporation or trust. The IBC or trust is a separate legal entity from an individual and may make loans to individuals or other entities.

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