15 Jul 12
15 Jul 12 12:51 pm
Is an offshore corp best protection?
Hey guys I'm new here and looking for others experiences with offshore IBC's.
I've been doing bulk email marketing and display marketing for about a year. I started getting some
threat letters from multiple sources (Ghetty images was one) for my marketing practices...etc. I guess
when you're actually out there doing something you are exposing yourself to all kinds of crap! Go figure...
I have a good friend who runs a company setting up affiliates/publishers and others with offshore structures. He has been bugging me about setting up offshore for over a year now (I run a couple other online businesses). It wasn't until I started getting these threat letters that I actually considered it and bit the bullet.
I went ahead and did a Belize IBC and a bank account with a good bank there and also a Nevis corp too. It seems pretty cool and with Nevis, to even be considered to have a lawsuit against you the person suing has to put up a $25k bond and retain a lawyer there too. From what I hear, the lawyers there don't even really like taking civil suits either...because they are hard to prosecute there. With Belize, I am told they are know as one of the most solid for privacy and virtually no attorney will touch a civil case either.
To me...now that I've seen the light on this, I'm kind of excited because I don't feel as exposed and it seems the only way to go?
Does anyone have any tips/advice and what are any pros/cons any of you have experience with offshore? One of the only ones I can see is the delay in banking...but that is a small price to be virtually "Bulletproof". IDK