Lets say you own a house or a yacht and you are concerned about privacy. How to own it anonymously in order to protect it from prying eyes?
You should consider hiding your assets to not lose it down the road. These days anybody can sue you for anything. People won’t sue poor people or people without assets, but will sue rich people, where they can get settlement. If anybody can see what you own, this might happen sooner or latter to you.
But if you hide your assets and appear to have nothing of value, creditors will go after an easier target and leave you alone. Even if they don’t leave you alone though, it will be very difficult for them to get anything, since your assets are safe and secure.
You are more likely to get sued if people know that you own a house and a yacht and other assets, than if people don’t know that you have any assets. Having assets on your name makes you a walking target.
The best way to protect your assets is simply by hiding it. If you own assets on your name, there are many ways to find out what you own and how much it can be taken from you.
What to do if you buy a house and a yacht? We will consider that you bought those with cash. One should not get a mortgage. If you have a mortgage you don’t own it actually, but instead rent it from the bank until final payment. If you can’t pay cash you shouldn’t own a yacht and definitely not “own” a house.
How to hide it? Now, that you own a house and a yacht you want to hide it order to protect it. You open Cayman Islands LLC and you assign the ownership of the house and the yacht to your new Cayman Islands LLC.
Cayman Islands are just an example, you could assign the ownership to any other jurisdictions LLC.
Now the owner is Cayman Islands LLC and not you anymore. When private investigators or lawyers take a look into what you own, they find nothing and they can’t find you own Cayman Islands LLC, since it offers great privacy and there are no publicly available papers with your name on it.
If you own an LLC (Limited Liability Company) in the States anybody can find ownership from public records. But Cayman Islands (or other tax haven jurisdictions) doesn’t publish the owners of their state LLC’s. Only you know who the actual owner of the Cayman Islands LLC is.
You don’t have to reside or do other business in Cayman Islands. You will need an agent for your new LLC, who resides in Cayman Islands and there are plenty of company you can hire registered agent from. You pay small annual fee for this service. You don’t have to pay taxes as you don’t do any profitable business from Cayman Islands LLC, it is only a holding company.