Welcome to the GSCSC, Inc. website, and the GSCSC, Inc. website blog. In this article, we will be discussing our Asset Protection and Privacy Protection Program. This is one of the most important aspects to operating a successful business. Protecting your Personal and Business Assets is extremely crucial, especially when there are more and more money hungry individuals, businesses, and tort lawyers, looking to sue you and your business for everything that you own. If you use a strong Asset Protection and Privacy Protection instrument, you will make it extremely difficult for anyone to come after you personally, and you will make it even more difficult for someone to come after your business. Note: Before you begin thinking about Asset Protection, and Privacy Protection for your business, there is one vital key element to implement first. That vital key element is to build your corporate business credit first. After building your corporate business credit, gaining assets, and making yourself as public as possible during the corporate credit building process, and obtaining your funding, CASH, Etc, then you will want to move into Asset Protection and Privacy Protection. Some people also call this Business Privacy. I get asked all the time, is Business Privacy real, and can it help you from getting sued? The answer to this in the beginning is NO. In the beginning, Asset Protection and Privacy Protection or Business Privacy, and corporate credit building are not a good mix. You want to put yourself out there as much as possible when you are building your corporate business credit, but once it is properly established, and once you have something solid, and valuable that you want to protect personally, and within your business, Asset Protection and Privacy Protection do play an important role in preventing you from being sued by money hungry lawyers, individuals, and companies out there that are failing, and want to take you and your business for everything that they can, in order to remain operational. Here is our Asset Protection and Privacy Protection program.
Complete Asset Protection Program
Introducing our Complete Asset Protection Program! Nevis corporations and LLC’s, formed on the small Caribbean Island east of Puerto Rico, have become one of the most attractive and convenient offshore corporation structures in the world by the enactment of the Nevis Business Corporation Ordinence of 1984. The support of the Nevis government in the development and administration of the corporate registry provides the international practitioner and investor with total cooperation and commitment unparalleled in the offshore industry.
Nevis Corporations Offshore Privacy and Asset Protection
When you are choosing an offshore domicile for complete Asset Protection and complete Privacy Protection, the following factors should be very heavily considered and are provided for in Nevis companies as follows:
Political Stability;
Governments Policy of Maintaining Offshore Haven Status;
Confidentiality and Anonymity Provided by Statute;
Tax Exemption Provided by Statute for a Nevis Corporation;
Excellent Communication Facilities;
Complete Accessibility of the Offshore Haven.
Trustee Services that are stable and reliable.
The advantages of Nevis companies provide for a stable, convenient and discreet domicile to carry out business activity when the use of an offshore haven would be beneficial or necessary.
The Nevis Business Corporation ordinence 1984 is an exceptionally flexible and very powerful international business statute incorporating both American corporation law and English common law concepts:
No taxes are imposed in Nevis Corporations or LLC’s upon income.
Nevis Limited Liability Company or Nevis LLC law offers superior Asset Protection and Privacy to corporation law of other jurisdictions and is strictly governed.
Nevis Asset Protection and Privacy provisions are superior to other countries
Nevis Corporation dividends or distributions which are not earned on the island are free from local tax
Annual reports or financial returns are not required
The corporation can own an offshore bank account for enhanced Asset Protection and Privacy Protection
Principle office and records for a Nevis Corporation or Nevis LLC may be located anywhere in the world
Directors, Officers and Shareholders need not be citizens or residents of Nevis
A corporation or LLC may act as Director and as Secretary
Bearer shares are permitted with a Nevis Corporation or LLC, many places usually don’t allow this
More Nevis IBC Benefits…
Here are a few more equally important benefits of our Complete Asset Protection and Privacy Program. These are:
Limited business activity may be carried out in Nevis while still maintaining tax exemption
Nevis Corporations and LLC’s may redomicile into and out of Nevis if desired
A Managing Director of a Nevis Corporation may be appointed to guide the activities of the company if desired
Directors and Shareholders may act by unanimous consent without a prior meeting being held
A Note From Richard Goddeau, the Founder/President of GSCSC, Inc.
About the search for Nevis
We spent a lot of time, effort and money researching and looking for an offshore domicile program that we could honestly recommend to our business clients who are seeking the complete Asset Protection and complete Privacy Protection of a base outside of the United States. There are literally hundreds of places promoting their spot as the best.
The one thing that I demanded and insisted on right from the start, was absolute propriety, where there would be a scrupulous regard for international law and the laws of the United States of America. No phony banks, no money laundering, no tax evasion. There’s been a lot of that around the world, and I wanted no part of it.
So when I finally arrived to visit Nevis, an independent nation, which has joined St. Kitts to form the Federation of St. Kitts & Nevis, I was very intrigued with this. The more I investigated this, the more confident that I became that we had found a truly peaceful, law-abiding base for our clients seeking complete Privacy and strong Asset Protection. After returning to the United States, GSCSC, Inc. put together a powerful Asset Protection and Privacy Protection package that we now offer to our clients across the U.S.
The fact that Nevis’ corporate law and Nevis Asset Protection and Privacy Protection provisions are largely based on U.S. and British codes was one of the first and most important aspects of the country that attracted me. For GSCSC, Inc, and our customers, that meant no major legal problems in understanding how to do business there.
Many of our clients seek to expand their businesses around the world and need to be free of the cumbersome legal code questions and corporate procedures they face in some domiciles. They need a very secure, dependable, stable and reliable domicile, a place where they know that the laws will be fairly and honestly followed. That’s Nevis. And believe me, we’ve thought long and hard about this before deciding that we could recommend Nevis to our clients. With our long history of doing business with multitudes of corporate clients and our reputation to guard them and their Assets, we don’t dare go with anything but the very best for our clients. That is why we recommend this program.
There were other important factors as well, of course. We had to look at Nevis corporations and LLC’s from a strictly business point of view. Knowing our clients, and knowing that their personal and business Assets have to be protected at all costs, we looked for a secure and private base that offered such things as these:
No disclosure of Owners, Officers, or Directors.
Strong, safe banking institutions.
No requirement for annual financial returns.
Freedom to locate offices and records wherever desired
Ability to maintain certain control without ownership.
No requirement that officers or directors be citizens of the country where Assets are Protected.
Freedom to issue bearer shares.
Authority to redomicile in or out of the country.
Highly regulated and extremely strict privacy laws.
Nevis corporations and LLC’s more than met our requirements. Underlying all of these considerations is the fact that Nevis is a stable, parliamentary, democratic country. That’s why I can honestly recommend this powerful Asset Protection and Privacy Protection program to any business client who wishes to enjoy the benefits of an offshore domicile and to highly consider Nevis for this purpose. I think many American business people simply don’t realize how they can benefit from an offshore domicile. Complete Asset Protection and complete Privacy Protection are two of the major factors.
With more and more tort lawyers, individuals, and other businesses enjoying wide latitude these days, an offshore domicile could be the cheapest form of liability insurance an American company could find. Right now the U.S. is in the midst of a “litigation explosion.” I think Nevis is the kind of bomb shelter many businesses need to escape the fallout from that explosion.
Nevis Complete Management Package
Our Full Service Management Contract and Full Service Management Package will cover all of the following services listed below, including incorporation of your Fiduciary Structure, at no extra cost except for courier fees. The Fiduciary Structure will have a $2,495.00 annual renewal fee. Let our experienced team of experts take care of your Asset Protection and Privacy Protection needs. See what is included below. The Nevis Complete Management Package Includes the Following Services:
Formation of a Nevis Asset Protection and Privacy Protection Limited Liability Company (LLC)
Offshore bank account established in a Class A Top-Rated Bank (at the time of incorporation
Caribbean mailing address with mail forwarding
Caribbean telephone number answered by a live receptionist
Caribbean fax number
Annual registered agent fee
Annual government fee
Nominee directors & officers
Debit card (at time of incorporation)
Brokerage accounts (at time of incorporation)
Online access to bank and brokerage accounts
Power of attorney (POA) giving you 100% control
Offshore Asset Protection and Privacy Protection Trusts
An offshore Asset Protection and Privacy Protection trust is considered by many experts to be the strongest Asset Protection and Privacy Protection vehicle on the planet when established in the proper jurisdiction. Assets are conveyed to the offshore trusts. You designate the trustees, settlors and beneficiaries. Only a few jurisdictions have laws that strongly favor the offshore Asset Protection and Privacy Protection trusts that most businesses favor. These jurisdictions are the Cook Islands, the Isle of Man, and the island of Nevis. All three jurisdictions have powerful laws that provide very strong Asset Protection and Privacy Protection, and they are politically stable.
Most if not all Legal Experts agree that the Cook Islands has the strongest of Asset Protection and Privacy Protection case law history anywhere in the world, and this is why most business owners seek out this type of program from us to Protect their Personal and Business Assets.
If you would like, you can name yourself as the only beneficiary to the trust. Alternatively, you can have several beneficiaries listed on the trust if desired. Any trustee that is appointed to your trust, must be fully qualified and licensed to provide trustee services in the jurisdiction where the trust is setup. The offshore government thoroughly screens and regularly audits all trustees. Any unsuitable trustee can be replaced by you. You can remain in total control of the investments or you can legally require the trustee to take your direction on investments.
Advantages of an Offshore Trust
The major advantage of an offshore trust of course, is Asset Protection and Privacy Protection. Personal and Business Assets are kept out of the reach of money hungry individuals, companies, or creditors. US Judges and those in other locations do not have legal jurisdiction over foreign citizens. Local judges cannot legally compel the foreign trustee on your trust to release funds to your judgment creditor, to an individual, or to a company. The Cook Islands, Nevis, and Isle of Man do not recognize any form of judgments that originate in a foreign country, such as the United States of America. Any form of litigation must be initiated in the offshore jurisdiction to reach the Assets that you are Protecting. Some offshore jurisdictions place many obstacles in the way for those who attempt to bring any litigation to the trust. In Nevis, for example, a creditor must post a $25,000.00 cash deposit to bring the suit against a Nevis trust. In the Cook Islands, the suit must prove beyond any reasonable doubt that Personal or Business Assets were transferred into the trust in order to defraud the creditor in question. This is most difficult to prove.
With a Cook Islands Asset Protection and Privacy Protection Trust, the statute of limitations states that the time limit for your opponent to claim fraudulent transfer is one year or two years after the underlying cause of action. Therefore, when the lawsuit is completed in the U.S., the statute of limitations in the offshore jurisdiction will usually have expired. The lawsuit, therefore, could no longer be successfully pursued in the Cook Islands after that time. As a result of this, there are exceedingly few trust lawsuits ever pursued by U.S. courts in the Cook Islands. Moreover even if the lawsuit is brought before the clock runs out, the opponent must prove without a doubt that your sole intent for creating the trust was to willfully defraud that particular creditor which is hard to prove. To top it off, the proof must be beyond the shadow of a reasonable doubt, which is a very high legal hurdle to even attempt to jump over.
Keeping it Secure
One of the best and strongest Asset Protection and Privacy Protection strategies and instruments that you can use to protect you personally, and which will also protect your business, combines the Nevis Corporation or Nevis LLC and a foreign trust such as one created in the Cook Islands. Personal and Business Assets, such as offshore bank accounts, can be held by the Nevis Corporation or Nevis LLC. All of the membership interest (ownership of the Corporation or LLC) is given to the foreign trust. A U.S. resident, such as the one having the legal tools created for them by GSCSC, Inc, can be the manager of the Nevis Corporation or Nevis LLC. The manager has all legal control over the Nevis Corporation or Nevis LLC and signature authority over all of the bank accounts. When properly structured and properly operated, Personal and Business Assets are protected from seizure by judgment creditors, individuals, and companies trying to bring suit against you. It is possible, in this case, for a U.S. resident to control all of the Personal and Business Assets, to have full access to them, and yet own none of them at all, even though you actually do.
When the “bad thing” (the lawsuit) happens to you or your business, you temporarily have the licensed, bonded trustee step in as manager or director of the Corporation or LLC and manage your accounts. Now the trustee will do for you what you have paid them for: Protecting Your Assets. Doing things in this way, the only time the trustee steps in on your behalf is when your Personal and Business Assets would be taken by the court system.
When the “bad thing” goes away you are immediately restored as manager or director of the Corporation or LLC.
The offshore trust is best suited for offshore bank and brokerage accounts. U.S. courts have jurisdiction over U.S. real estate. The domestic courts dealing with your case can legally demand seizure of such types of Assets. Titles for domestic real estate can be held in the Nevis Corporation or Nevis LLC that is owned by the trust, but should be liquidated and all of your funds should be moved offshore in the event of legal duress. To avoid these issues however, you can also setup a Land Trust, and Living trust to be used along with this strategy to further protect yourself, your Business, and your Personal and Business Assets. Thus, it is best to keep the Personal and Business Assets that you own completely out of reach of the domestic courts at all cost.
The appointed trustee assigned to your company is fully licensed and bonded, meaning that they went through very intensive background checks before a license was granted to them. The trustee is fully bonded, meaning that funds managed by the trustee are fully insured. Moreover, the trustee company that we utilize is over 30 years old. Again, with most Asset Protection and Privacy Protection trusts, the only event in which the trustee steps in on your behalf is when your funds are threatened by the courts. So the main two alternatives in such an event are as follows: 100% chance of funds being seized by the courts vs. accounts being protected by a licensed, bonded trustee that has faithfully protected client funds for over 30 years.
Comparison of Offshore Trusts Jurisdictions
Wealth Protection: Specific Provisions
Bahamas
Belize
Bermuda
Cayman Islands
Cooks Islands
Gibraltar
Jersey
Turk & Caicos
PROTECTION OF SETTLOR:
Settlor can be a Beneficiary
yes
yes
yes
yes
yes
Retention of control by Settlor
yes
yes
Protection from subsequent bankruptcy
yes
yes
yes
PROTECTION OF BENEFICIARY:
Spendthrift beneficiaries provisions
yes
yes
yes
Avoidance of forced heirship
yes
yes
yes
yes
yes
PROTECTION FROM FOREIGN JUDGEMENTS:
Specific non-recognition provisions
yes
Is the Hague Convention applicable?
no
no
no
PROTECTION FROM CREDITORS:
Exclusion of Statute of Elizabeth laws
yes
yes
yes
yes
Trust invalid if transfer fraudulent
no
no
Creditor must prove fraudulent transfer
yes
yes
yes
yes
Clear definition of fraudulent transfer
yes
Separation of creditor claims
yes
yes
yes
yes
yes
Statutory limitation on fraudulent transfer
yes
(2 yrs)
yes
(6 yrs)
yes
(6 yrs)
yes
(1 yr)
OTHER ISSUES:
Retroactive protection for immigrant trusts
yes
Community property provisions
yes
Specific exclusion of foreign law
yes
yes
yes
yes
Choice of law is binding
yes
yes
yes
yes
yes
yes
yes
Custodian trustee permitted
yes
What is needed for Offshore Companies and Accounts
Name for Company
Contact address
Contact Name
Shipping Address
Billing address for the Credit card payment, you can fax a check, western union, bank deposit or wire as well.
Contact email
Director(s)/Manager(s) and addresses
What is Needed For the bank
Completed application
Notarize copy of passport or Drivers License
Bank reference letter
Personal reference letter for a Doctor, attorney, CPA or another person in business
Utility Bill to show proof of residency
Original Bank Statement
What is needed for the Cook Island Trust
Completed application
Notarize copy of passport or Drivers License
Bank reference letter
letter for a Doctor, attorney, CPA or another person in business
Utility Bill to show proof of residency
Original Bank Statement
Once we receive your signed, notarized service contract, and payment, all documents will be professionally prepared, and emailed or shipped to you for final signature, and the services will be rendered. If you would like more information on this Complete Asset Protection and Privacy Protection Program, please feel free to contact one of our business consultants, or ask your local GSCSC, Inc. Reseller for more details. Call us toll free at: (800) 922-5170.
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