Selecting the Right International Financial Center

Choosing an IFC is obviously a major decision when seeking foreign protection of assets. Key considerations include the laws of the country related to Asset Protection; the stability of its legal and political system; a solid, tax-free status for foreign capital; financial privacy and confidentiality laws; and the level of controls on foreign exchange.

Other important criteria include the statue of limitations for the country (shorter is better); a statutory policy of no enforcement of foreign judgments; the burden of proof to recover a fraudulent transfer; and an official policy on freezing of assets.

The following are some reliable IFCs located throughout the world:

• Bermuda.
• the British Virgin Islands.
• the Bahamas.
• the Cayman Islands.
• Turks and Caicos.
• Nevis.
• Antigua.
• the Isle of Man.
• Channel Islands.
• Jersey.
• Guernsey.
• Switzerland.
• Liechtenstein.
• Luxembourg.
• Cyprus.
• Malta.
• Gibraltar.
• Hungary.
• Austria.
• the Philippines.
• Singapore.
• Hong Kong.
• Cook Islands.

IFC's are predominately clustered nearby industrialized countries whose laws have induced wealthier citizens to find friendlier environments for their money. Geography is no longer a key factor in selecting an IFC because secure electronic banking now permits easy movement of money.

Different Asset Protection lawyers have their own favorite jurisdictions and affiliations (trustees, protectors, banks, etc.) and there is no single consensus on the "best" IFC. Many international Asset Protection plans are multi-national and it is not unusual for a strategy to use, by way of example, a Nevis trust as a primary protective shield, with investments in Switzerland, Panama, Singapore, or elsewhere.

CHOOSE THE RIGHT ASSET PROTECTION ATTORNEY!