How Smart Billionaires Hide Their Money (Legally)
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- Опубліковано 8 бер 2024
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Summary of this video:
💼 Asset Protection Strategies for Billionaires
- Strategies for protecting assets against lawsuits and divorce,
- Cook Islands as a top jurisdiction for asset protection,
- Setting up trusts and LLCs for safeguarding wealth.
🏝️ Alternative Asset Protection Jurisdictions
- Comparison of asset protection options: Cook Islands vs. St. Kitts and Nevis vs. Belize,
- Considerations for cost, ease of setup, and level of protection,
- Importance of thorough research before selecting a jurisdiction.
🇭🇺 Asset Protection in Europe: Hungary
- Overview of asset protection options in Hungary,
- Benefits of setting up trusts and companies in Hungary,
- Comparison of Hungarian trust laws with other jurisdictions.
📜 Importance of Structuring for Future Generations
- Significance of structuring assets to protect future generations,
- Benefits of trusts in safeguarding wealth for children and heirs,
- Legal implications and protections offered by trusts in case of lawsuits or divorce.
DISCLAIMER: This video is not tax and/or financial 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.
Protecting from women
hahahahahaha
You came from a woman. Protection from you.
💯
Another reason not to have partner
You can have a partner. just don’t make her your wife legally.
This is the content I have been waiting to watch for years on UA-cam. Now I know where to "park" my hard earned money.
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Cook Island Trust, Bahamian or Dubai Holdings company with a Wyoming or Delaware LLC
Wrong. USA judge can pierce the veil of usa llcs, even if its in wyoming (most private in usa). Why? Because he has a jurisdiction there, that is why you should have an llc in offshore, preferably cook island or nevis, thats where usa judge has no jurisdiction. So yeah, the strongest set up is cooks trust, that holds either cooks or nevis llc, and that llc has bank account in swiss. Thats the #1 set up. Men lie, women lie, stats do not. Cook island trust veil never been pierced- undefeated, untouchable. There was some guy in usa who defrauded millions, usa govt was not able to get that money. Dude serving 8 years in prison, but 40 mil he defrauded, is still there in cooks.
I'm Cook Island I heard this I'm going there in July I'm going to check this out
Great video.
Awesome free value here
You forgot to mention in order to sue somone in Cook Islands, all legal fees must be prepaid up front there. I then only Cook Islands Court will even register a case there
I live near Hungary and I didn't know about trust so thank you
Offshore trust structures are to protect Liquid Assets, such as cash and share instruments.
Domestic real estate needs to be in a domestic trust and all equity stripped from it through liens and mortgages. Creditors won't have anything to attach this way.
The basics are to keep your money offshore and to let your physical asset titles be held by the banks. This way creditors and a loose wife will get nothing but a finger from your accountant, bank and lawyer.
I agree 💯 with everything you mentioned except for one thing, instead one middle finger to that greedy b$#@&, how two middle fingers!!!!
can a billionaire create a multiple LLC and multiple trust in cook island and st.kitts?
Smart!!!!!!
Sir what did you study
What about a singaporean bank account instead of a swiss bank account? I hear swiss banks are overrated.
The Cook Islands has the best asset protection trust in the world 100%
What about the new EU asset register? It specifically also requires you to tell them about any company or trust or foundation that you are profiting from! Also real eastate, crypto, etc. Thr limit is 200k, which is rediculously low! It affects everyone who owns a house. How can we escape this hell?
Great question. I've been wondering the same as well. I guess that would mean either live in Andorra or Monaco (Both are outside the EU, within Schengen (but with different rules for residency), but part of the EEA - confusing much...), or don't live in Europe. The EU Asset register as far as I can tell, only applies to EU located assets and EU residents - thus just because someone is an EU citizen doesn't mean they are required to register their assets on the EU asset register unless they live in the EU or the asset is located in the EU.
Buy gold, silver & Bitcoin. 😊
@@michaeljohnscott7989 That will only result in being forced to register those assets or in the case of crypto have them registered by the exchange. Simply put, as long as you have to AML/KYC you can't avoid it except to be within the amounts which don't require ID. The problem is AML/KYC and unless laws get repealed there is no solution.
Whats the point in having bullion or crypto when you can't do anything with it because you have no audit trail that shows how you got it and thus no one will accept it? Sure it might be fine person to person but in reality you still need to be able to function within the tyrannical systems.
@@michaeljohnscott7989 I did😉 But all these assets have to be reported, as well. And since there is KYC on every Broker and every Exchange, not reporting is not smart, because punishment is believed to be twice the amount of what you've tried to hide
Can you talk about how to find a company to set up these structures and trusts? I have been researching but don't know who's reputable or trustworthy.
Go to City of London (the financial district in London).
There's a guy on UA-cam called the the business guy. He's a pro at setting up this structures look him up
@@manuelmanuel3968 Thanks, The Business Guy came on my YT feed a couple of weeks ago. But I think The Business Guy only works with LLCs and I think setting up a company in a place like Dubai is more complex than an LLC.
Does your company help set this up? I went to your website and it seems like you just help set up moving / residency / citizenships
There are too many situations in life, where you will need a passport nobody knows about in your back pocket, to ignore the possibility and even don't do so much as thinking about it.
All this video about protection of ur assets in court reminded me a moment in film Big Stan, when M.EmmetWalsh, who played the corrupt lawyer Lew Popper, winks at a judge and says :"Thanks, Your Honour!".😂
what about Panama ?
The ONLY correct answer is to put it in self-custodied bitcoin.
Bitcoin…..at least nobody can take that!
Yes !!!
Pepe coin😀
Can always get blacklisted from exchanged when cashing out tho so it’s kinda not fully bulletproof
@@WealthyExpat and it doesn’t cost you “$50-$100K” that you so casually mentioned throughout your video 🙄 Ledger Nano X is $149! 🤔😳😇
Crypto is where it’s at!
I tought the cook island 🏝️ belonged to Tim Cook’s family
Cook Islands trust and LLC cost $10,000 per year to run
So with is LLC, can we buy property in Dubai and obtain golden visa?
If u invest 400-500k dollar u get 10 year golden visa
Under the name of trust, I was asking@@Pajtim2023
You forgot to mention labuan.
1) Even if you have trust set up in the US, the personal liability court cannot go after that trust since you are not considered an owner of that trust if you are a custodian or beneficiary of that trust. So there's no need to set it up outside the US. Am I right?
2) if you set up trust I Cook Islands, will you also need to pay tax to Cook Islands?
Just spread it out to different locations.
4:00 huh, what is that map ?
"north and central america 2048" kinda like an alternative futuristic map
the usa requires reporting of all companies' beneficial owners effective jan. 2025 or else prison and big fines. once sued and a judgment entered, judge can order you to retrieve money or assets from your cook island etc. trust. sit in jail for contempt of court until you obey that court order, so get legal advice on how to avoid that probability.
I’ve got nothing to protect so I’ll keep working on my AI law service
Can you own a home anywhere in the Caribbean and have it in a Nevis trust?
from what ive researched, youd have the home in a holding company thats owned by the trust
Make a video about texas bro and their 0 income tax
The question now is: how would someone in gods name even know that you have set up a trustfund that owns a LLC that owns your investments be it properties or financial securities or money in your savings account assuming you keep your mouth shut.
A trust needs a beneficiary it cant be you so you will lose them😊
What is a trust?
A trust is like a corporation. As you may know a corporation is an independent entity. Instead of board members you have trustees. So you dont own the money that you put in a Trust. The trust has total control over it and only lets you use the money if you request it. It sounds crazy and it is, but thats how you protect your money. By letting other people own and control your money and you pay them to let you use the money when you need it.
You can Trust me.
📚
@@monkeyratercan these trustees run away with the money
@@monkeyrater what if trust betray with ownership?
What’s about Sam Bankman ? 😅😅
Dudes got a strong Chin, is he a Boxer?
Judo
Rude 😂😂😂😂
Lichtenstein!!!
Lichtenstein will sell you out in a heartbeat to Count taxman!
Canadians need to report the Trust too! The government have the most power, period!
Then don't be Canadian. 😂
@@Technoanima🎯💯
If i am wrong, please somebody correct me, but if you have an other citizenship and register trust on other passport, maybe you aren't supposed to report? For example, if you are Canadian/St.Lucian?
@sergeyyakymchuk1224 ask a tax person who works with offshore accounts. Rules are always changing.
Consult a professional for the correct advice. One thing to keep in mind is that in many places, simply being a citizen isn't enough to force one to register/report everything - that's usually tax residency. If you had Australian tax residence you'd have to report bank accounts, trusts, etc. to the ATO. If you legally closed your tax file and moved abroad, then those obligations wouldn't exist with the ATO unless you became tax resident in Australia again. The new country of primary residence could impose such requirements though.
You're saying that people aren't willing to fly to an island to win MILLIONS of dollars?
I would fly to the moon.
Sure, but it still adds to the whole picture. All small details adds up to a big picture.
He also said that even if they actually go there, the Cook Islands can very easily refuse to acknowledge the legitimacy of the persons legal qualifications and capacity. Most people won't go somewhere knowing that if the "wind blows one way" they'll be rejected but it could "blow the other way once a blue moon".
@@matthewnirenberg I would imagine that there is a lucrative profession in becoming a lawyer in the Cook Islands.
@@dialecticalmonist3405 There's a reason no one's done it - isolation aside and the work required to become a lawyer aside, those who can sue don't want to ruin the benefits of the Cook Islands as they benefit from it as well. Its a case of "whilst they'd like to sue, they don't want to get rid of their own golden goose" so they let it go. Also the visa policy of the Cook Islands helps prevent it.
Trust no-one buy Bitcoin & become your own bank. 😊
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How greed haunts billionaires making them miserable __ a better title !
I mean, just buy Bitcoin and keep your private key secrets, it seems easier.
That doesn’t keep you from paying taxes. Whenever you sell crypto it is a taxable event in the U.S.
Almost anywhere with a British connection or history is ok.
Except for the UK.!
Bitcoin is the new thing 😂 it is amazing belive me
Get those crypto investments going, gents! 😎
but you are not even a millionaire so why would you talk about billionaires?
How do you know he's not a millionaire?
I'm broke af
Nice try IRS
yes@@azavy
@@WealthyExpat I figured as much, since you very casually toss around the figures $50,000 to $100,000 like those figures mean nothing😮 My divorce cost me $500K and I don’t throw around figures lightly. $50K is still $50K even when you’re a millionaire!🤔😳😡
You talk up the Cook Island trust, but you never stated what it would cost to set up?🤔😳🙁
Did you even watch it ? He literally said 50k to 100k at 3:30