It would be good a video about why the trustee can't sell all your property and fly away with Your money. Why can they be trusted, what makes them reliable
Really interesting video, I’m actually thinking to create a trust or foundation. Cook Island was on top of my list with Panama Foundation, I’d like to know how both compare ?
(1) Can one put one's US brokerage account like Charles Schwab under the Cook Islands Trust and do the trading from the US brokerage account? (2) Is there any tax (e.g. gift tax or any others) for transferring assets such as real estate, stocks and cryptos into the Cook Islands Trust?
Assuming the set-up is +/-$30k - What asset levels does a person look to have to open the bank account and is this done before the final billing occurs?
@@VERTICALWisdom New Zealand is just as good. Bank accounts are getting more difficult, even for me, a retired corporate banker and being with some of our banks for over 30 years. They still don't know who I am!! 🤣🤣
I read a scenario where in just 4years time Cook Islands won't be a country anymore good chance either N.Z or Australia will run the admin of the C.I what happens to the Trusts then legally when do people stand ? Talk was also no more Monaco and Korea will be just 1 country. too
@@mavenglobal there are no visas required. However leaving Auckland you would need a passport. Having said that I have travelled internationally and very countries where I need a visa. Biometric data is another issue.
I'm a citizen of New Zealand. I thought setting up a asset protection trust in Vanuatu then opening a swiss bank account would be better then the cook islands what do you think? and how much does one need to open a swiss bank account?
@@blakeharrislawWhy so much? If your assets are less than a million the individual(s) will end up going broke and no money will be left for their children or grandchildren. If I am missing something please explain. I'm aware we must fund the trust.
hey can u tell me how much yearly income my business should be generating cz ofc its not for someone making 50k usd a year right? also, what my total minimum net worth should be before i proceed to have it?
What brokerages do your clients use to hold their stocks in Switzerland? I've always liked Interactive Brokers because of their low margin rates and would be hesitant to switch.
I cannot share the names of my contacts in Switzerland on social media. However, we can probably find a solution for you. Please give me a call to discuss. 833-Ask-Blake
@@blakeharrislaw they share account holder and balance information with the Dutch tax authorities (belastingdienst) since ~2020. But you can go around that with the Cook LLC?
Thank you for this awesome information, I'm from New Zealand and i didn't know this
Production quality on this video is top notch 💯 very straightforward and easy to understand. Nice work
Thanks!
It would be good a video about why the trustee can't sell all your property and fly away with Your money. Why can they be trusted, what makes them reliable
Https://blakeharrislaw.com/blog/is-it-safe-to-work-with-a-foreign-trustee
Really interesting video, I’m actually thinking to create a trust or foundation.
Cook Island was on top of my list with Panama Foundation, I’d like to know how both compare ?
The CIT will give you much better protection and cost much less.
(1) Can one put one's US brokerage account like Charles Schwab under the Cook Islands Trust and do the trading from the US brokerage account? (2) Is there any tax (e.g. gift tax or any others) for transferring assets such as real estate, stocks and cryptos into the Cook Islands Trust?
1. Yes 2. No
how much would a simple set-up of this structure cost? just an average or ballpark figure?
20k-40k
How much will all of this cost? To let you set up the trust. Can you give a rough estimate?
20-40k
@@blakeharrislaw$20-40K US dollars?
@@OilBaron100 Yes. USD.
@@blakeharrislaw thanks 🙂
Thank you for the video/information Blake! What is the maintenance costs roughly yearly?
Assuming the set-up is +/-$30k - What asset levels does a person look to have to open the bank account and is this done before the final billing occurs?
About $1M. We require our payment upfront.
@@VERTICALWisdom New Zealand is just as good. Bank accounts are getting more difficult, even for me, a retired corporate banker and being with some of our banks for over 30 years. They still don't know who I am!! 🤣🤣
What are the requirements for closing/canceling trust?
Just tell the trustee 1. You want to close the trust and 2. You are not acting under court order.
Great video Blake how much does it cost from start to finish with Swiss bank account in place too👍
Swiss banking/brokerage fees are comparable to a U.S. bank/brokerage
is it possible to sell one of the asset ? and does a trust have any legal statues such as L.P or LLP or Corp ???
Assets can be bought and sold with a trust.
I read a scenario where in just 4years time Cook Islands won't be a country anymore good chance either N.Z or Australia will run the admin of the C.I what happens to the Trusts then legally when do people stand ? Talk was also no more Monaco and Korea will be just 1 country. too
malarky
Cook Island is already New Zealand territory as well as Nuie etc. 😂
@@lindsayscott4537 Can N.Z citizens travel to Cook Islands no passport required ?
@@mavenglobal there are no visas required. However leaving Auckland you would need a passport. Having said that I have travelled internationally and very countries where I need a visa. Biometric data is another issue.
I'm a citizen of New Zealand. I thought setting up a asset protection trust in Vanuatu then opening a swiss bank account would be better then the cook islands what do you think? and how much does one need to open a swiss bank account?
For NZ citizens I would recommend a Nevis Trust.
Gday, what about best structure for AUS citizen, pls.
@@blakeharrislaw Give me the reason why in Nevis and not the cook islands or vanuatu.
@@andreaus8889 I would suggest a Nevis trust.
@@G7FX_REVIEWSVanuatu does not have the infrastructure or trust companies you can find in the Cook Islands.
What is the Annual cost to maintain ?
5-10k
@@blakeharrislawWhy so much? If your assets are less than a million the individual(s) will end up going broke and no money will be left for their children or grandchildren.
If I am missing something please explain. I'm aware we must fund the trust.
@@Hi-jx5oe It is sooo much protection!
@@blakeharrislaw one time fee ?
20-40k initially and 5-10k annually
Does this also protect me as UK citizen?
Yes
How much annually to maintain Trust?
5-10k per year.
hey can u tell me how much yearly income my business should be generating cz ofc its not for someone making 50k usd a year right? also, what my total minimum net worth should be before i proceed to have it?
Net worth of $1M.
Hi, do you have experience with the Panamá private interest foundations? If so what are your thoughts on this vehicle vs. cook islands trusts?
The Panama foundation is going to cost a lot more and give less protection.
What brokerages do your clients use to hold their stocks in Switzerland? I've always liked Interactive Brokers because of their low margin rates and would be hesitant to switch.
I cannot share the names of my contacts in Switzerland on social media. However, we can probably find a solution for you. Please give me a call to discuss. 833-Ask-Blake
I need a Swiss bank account and a cook Islands Trust. Please get in touch
@@KennedyNjiruMbogori No you don't. There are better alternarives! 😊
@@lindsayscott4537 like?
How safe is a Swiss bank account for an EU citizen?
Super safe.
@@blakeharrislaw they share account holder and balance information with the Dutch tax authorities (belastingdienst) since ~2020. But you can go around that with the Cook LLC?
@@mennnok Probably not, we protect assets, we don't hide them.
@@theoffshorepodcast1045 that makes sense, thank you
Wwnt too collab partner
I am not sure this is right way . If huge knows you have money and not bringing it back z they can order prison time
Rule #1: Always comply with court orders.
That depends on the circumstances. The Business Guy will tell you differently.
@georgesmith If it's true, then the whole structure is useless
@@galenmarek6949it’s not.
@@blakeharrislaw Care to explain a bit?
This didn't help Russians from losing their super yachts, did it?
Too much to unpack here in a YT comment.