Single Member LLC<\/h1>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\t\t\n\t\t\t\t\n\t\t\t\t\t\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\t\t\n\t\t\t\t\n\t\t\t\t\t\t\tToday, I\u2019m going to be talking briefly about offshore Single Member LLCs<\/strong>.<\/p>- What are they used for? <\/li>
- How do you form them? <\/li>
- What does an agreement look like?<\/li><\/ul>
I\u2019m going to keep it simple and straightforward right now.<\/p>
What are single member LLC’s?<\/h2>
Offshore single member LLCs<\/b> have normally disregarded entities.<\/b> You need to be very careful to make sure that if you want it to be a disregarded entity, you take care in your formation steps. There’s a whole video on that. I encourage you to watch it.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\t\t\n\t\t\t\t\n\t\t\t\t\t\n\t\t\t<\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t<\/i>\t\t\t<\/span>\n\t\t\t\t\t\tGET STARTED ON YOUR ASSET PROTECTION PLAN<\/span>\n\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\t\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t<\/i>\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\tFacebook\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t<\/i>\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\tTwitter\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t<\/i>\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\tLinkedIn\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t<\/i>\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\tWhatsApp\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t<\/i>\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\tEmail\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\t\t\n\t\t\t\t\n\t\t\t\t\t\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\n\t\t\t\t\t\t\t\t\n\t\t\t\t\n\t\t\t\t\t\t\tDon\u2019t try to do this on your own. Make sure you have a CPA who really knows the rules helping you. Anyway, an offshore single member LLC properly formed, disregarded properly formed to be disregarded for tax purposes is a hugely helpful tool.<\/p>
Why is it helpful? <\/b>Because many banks out there don\u2019t want to do business with trust. They also don\u2019t want to do business with U.S. people.<\/p>
So, if you go to them with a U.S. person settling an offshore asset protection trust, you have a 50-50 chance that they’re going to say fine.<\/p>
I want your deposit and we will not worry about your offshore trust being a U.S. person. We will treat it as a non-U.S. person, and that allows the bank to comfortably take you as a client because they don\u2019t want anything to do with the IRS. They don\u2019t want anything to do with the SEC.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
\n\t\t\t\n\t\t\t\t\t\t\t\t\n\t\t\t\t\n\t\t\t\t\t\n\t\t\t\n\t\t\t\tTable of Contents\t\t\t<\/h4>\n\t\t\t\t\t\t\t<\/i><\/div>\n\t\t\t\t<\/i><\/div>\n\t\t\t\t\t<\/div>\n\t\t\n\t\t\t\n\t\t\t\t<\/i>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\t\t\tThey don\u2019t want anything to do with the Department of Justice in any way, but they do want your money. So, they invent these unique little caricatures that an offshore asset protection trust is not a U.S. person. We all know that\u2019s false, but it lets them take your money, so what do you care about.<\/p>\n
A lot of times, banks that are formed in jurisdictions, that are based upon German law -that would be basically the whole civil law world, a lot of those banks don\u2019t know what a trust is and they’re not comfortable with it. So, they don\u2019t want a trust account.<\/p>\n
![\"single](\"https:\/\/www.assetprotectiontraining.com\/wp-content\/uploads\/2014\/08\/single-member-llc.jpg\")
<\/h2>\n
What they’ll often ask you to do is have your offshore asset protection trust<\/a> form an offshore entity, usually a disregarded single-member LLC<\/a>. It does not cost you any more taxes and it is acceptable to the bank. Therefore, they don\u2019t have to review a trust agreement.<\/p>\nSo, I find it very helpful with banking \u2013 but I want to encourage you, don\u2019t do this on your own. This is something you need a real pro. You do not want to make mistakes.<\/p>\n
You do not want to file \u2013 fail to file your tax returns disclosing the existence of any offshore accounts et cetera. That is a game you never want to play. You never want to get in the middle of that. You will end up living with Bubba. It’s not worth it.<\/p>\n
You may end up wanting an offshore LLC, and I wanted to show you briefly what they look like. I\u2019m going to close this now.<\/p>\n
This is a Nevis single-member LLC operating agreement<\/a>. It’s available for you to download below, and I\u2019m not going to go through it in detail. You have it to download.<\/p>\nIt’s the same as almost every other single-member LLC in the world. What I want you to know though is, don\u2019t get hosed if you have to form one. These don\u2019t cost tens of thousands, or even $2,000 or $3,000 in most cases.<\/p>\n
With this type of agreement and a good company representing you, you should expect no more than $1,000, maybe $1,500. They’ll always ask for more, but I don\u2019t think you should ever have to pay more for just the simple formation process of an offshore LLC. Nevis is a great jurisdiction for this. I don\u2019t usually use them for trust work, but I love them for a company formation, and they’re not very expensive to do business in.<\/p>\n
Single Member LLC Operating Agreement<\/h3>\n
Here we have a simple agreement. You should flip through it. It’s got all the same provisions of any other onshore or offshore LLC. Nevis is special though because they copied the Delaware statute. So, it’s very familiar to people who are used to doing business in Delaware, and it works just fine.<\/p>\n
I\u2019m not going to talk about it anymore in this particular video except to say, you know, use it, print it, give it to your advisors. It’ll help you. <\/b><\/i><\/p>\n
What I did want you to note is that the signature provisions require the offshore trust to sign, and this one is actually done for a kinetic asset protection<\/a> trust because it has a U.S. co-trustee. You may or may not want to do that.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t
Today, I\u2019m going to be talking briefly about offshore Single Member LLCs<\/strong>.<\/p> I\u2019m going to keep it simple and straightforward right now.<\/p> Offshore single member LLCs<\/b> have normally disregarded entities.<\/b> You need to be very careful to make sure that if you want it to be a disregarded entity, you take care in your formation steps. There’s a whole video on that. I encourage you to watch it.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t Don\u2019t try to do this on your own. Make sure you have a CPA who really knows the rules helping you. Anyway, an offshore single member LLC properly formed, disregarded properly formed to be disregarded for tax purposes is a hugely helpful tool.<\/p> Why is it helpful? <\/b>Because many banks out there don\u2019t want to do business with trust. They also don\u2019t want to do business with U.S. people.<\/p> So, if you go to them with a U.S. person settling an offshore asset protection trust, you have a 50-50 chance that they’re going to say fine.<\/p> I want your deposit and we will not worry about your offshore trust being a U.S. person. We will treat it as a non-U.S. person, and that allows the bank to comfortably take you as a client because they don\u2019t want anything to do with the IRS. They don\u2019t want anything to do with the SEC.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t They don\u2019t want anything to do with the Department of Justice in any way, but they do want your money. So, they invent these unique little caricatures that an offshore asset protection trust is not a U.S. person. We all know that\u2019s false, but it lets them take your money, so what do you care about.<\/p>\n A lot of times, banks that are formed in jurisdictions, that are based upon German law -that would be basically the whole civil law world, a lot of those banks don\u2019t know what a trust is and they’re not comfortable with it. So, they don\u2019t want a trust account.<\/p>\n What they’ll often ask you to do is have your offshore asset protection trust<\/a> form an offshore entity, usually a disregarded single-member LLC<\/a>. It does not cost you any more taxes and it is acceptable to the bank. Therefore, they don\u2019t have to review a trust agreement.<\/p>\n So, I find it very helpful with banking \u2013 but I want to encourage you, don\u2019t do this on your own. This is something you need a real pro. You do not want to make mistakes.<\/p>\n You do not want to file \u2013 fail to file your tax returns disclosing the existence of any offshore accounts et cetera. That is a game you never want to play. You never want to get in the middle of that. You will end up living with Bubba. It’s not worth it.<\/p>\n You may end up wanting an offshore LLC, and I wanted to show you briefly what they look like. I\u2019m going to close this now.<\/p>\n This is a Nevis single-member LLC operating agreement<\/a>. It’s available for you to download below, and I\u2019m not going to go through it in detail. You have it to download.<\/p>\n It’s the same as almost every other single-member LLC in the world. What I want you to know though is, don\u2019t get hosed if you have to form one. These don\u2019t cost tens of thousands, or even $2,000 or $3,000 in most cases.<\/p>\n With this type of agreement and a good company representing you, you should expect no more than $1,000, maybe $1,500. They’ll always ask for more, but I don\u2019t think you should ever have to pay more for just the simple formation process of an offshore LLC. Nevis is a great jurisdiction for this. I don\u2019t usually use them for trust work, but I love them for a company formation, and they’re not very expensive to do business in.<\/p>\n Here we have a simple agreement. You should flip through it. It’s got all the same provisions of any other onshore or offshore LLC. Nevis is special though because they copied the Delaware statute. So, it’s very familiar to people who are used to doing business in Delaware, and it works just fine.<\/p>\n I\u2019m not going to talk about it anymore in this particular video except to say, you know, use it, print it, give it to your advisors. It’ll help you. <\/b><\/i><\/p>\n What I did want you to note is that the signature provisions require the offshore trust to sign, and this one is actually done for a kinetic asset protection<\/a> trust because it has a U.S. co-trustee. You may or may not want to do that.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\tWhat are single member LLC’s?<\/h2>
\n\t\t\t\tTable of Contents\t\t\t<\/h4>\n\t\t\t\t\t\t\t
<\/h2>\nSingle Member LLC Operating Agreement<\/h3>\n