Asset Protection Structure

by Aaron A Day on January 9, 2014

An introduction to asset protection structures for U.K. Canada and/or US connected Persons. A perfect fit for a retirement account structure because this is a Government Regulated, O.E.C.D. Registered and IRS Recognized IRC 402(b) Foreign Retirement Account:

1) Hong Kong trust law is a wide open trust world with no restriction on what investments are allowed and even more importantly Hong Kong Pension Law over-rides Domestic Tax Law. Asset Protection is benefited by both specific ”in perpetuity” Trust Law and also specific Pension Law which I will introduce to you.

2) Any amounts of money can be placed inside this retirement fund with no restrictions to amount. Domestically there is a restriction as to the deducible from tax amount but there is no restriction on the amount of non-deductible contribution. Also it will hold virtually any investment asset to include real property.

3) When retirement income is taken it is non-taxable in many countries and you are allowed to take withdrawals at any age.

( Potential tax consequence of withdrawals we will need to discuss more fully because there are many variables as to nationality, residency, DTA and other issues)

Furthermore, you will have zero difficulty opening a bank/investment/brokerage account, virtually worldwide, because this structure is a Hong Kong resident rather than a US or UK person.

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