Thanks, so going by how this company explains it:
- An OffShore Trust in the Cook Islands, owns your IBC.
- You are the manager of your IBC, unless a “bad thing” happens, then the Trust becomes the manager to protect the IBC’s assets.
I’m no expert, but I reached out to ( http://offshoreincorporate.com) and asked them about their PIF and IBC package, and they mentioned the US citizen needs to be careful not to cross the management and control line. The above sounds like it does that.
*Note: I’m not endorsing the above website, but they do seem to have some good information.
And another issue with trusts, is they need to have beneficiaries, if I understand correctly. While the PIF in Seycelles, can be it’s own beneficiary. (How To Avoid Being Listed as the Beneficial Owner of an Offshore Company | Offshore Companies International)
From that page: “If you set up a Seychelles Foundation to own the shares of your Offshore Company or IBC if anyone (eg a bank or revenue authority or regulator) ever asks who is the beneficial owner of this Company, you can legally say it’s the shareholder, because the shareholder is a Seychelles Foundation and Section 71 of the Seychelles Foundations Act which you’ll find enclosed (ie DO email them a copy of the legislation) provides that the legal and beneficial owner of any asset held by a Seychelles Foundation IS THE FOUNDATION ITSELF.”
In talking with someone from the company, they mentioned they have a list of brokers they recommend and can set up the bank account with tier 1 banks. So I imagine, they can assist in setting up the broker accounts too. But I don’t know.
And again, not endorsing them. I’m interested in their services, but I’ve only found a few good reviews and 1 rip off report (that eventually was resolved). So I’m unsure and still exploring… plus it seems like the only options so far, involve having to trust putting someone else in charge of your company and hoping they follow the contract, being offshore… they could easily just run off with your money and legally it would be hard I think, to recover it.