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Options For Going Offshore

“Kathleen, your new Simon Letter looks good and is cheap enough. My concern is that I live in Australia, and, obviously, as most of your clients live in the United States, the advice in your service is likely strongly skewed to U.S. tax and residency laws and not necessarily relevant for me. I am not sure it will offer the same value and solutions that I require. I do enjoy reading your newsletters, though.

“What do you think?”

–James W., Australia

With the exception of the U.S. tax-specific information, everything else in our new Simon Letter will be relevant for you. Residency options are the same jurisdiction by jurisdiction for any national, as are the rules for applying and being approved. Doesn’t matter if you’re an American, an Aussie, a Brit, a Canadian… You have the same choices for becoming a foreign resident of another country.

Asset protection matters would be the same for anyone, as well. The caveat here would be that anyone pursuing asset protection opportunities in another country needs to understand the tax implications back in his home country. For this, you use a tax expert there, in your home country–in your case, Australia. But any information or recommendations for setting up an offshore corporation, for example, would work the same for you as for an American or whoever.

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