Niko Villamor

“The hardest thing to hide,” wrote Eric Hoffer, “is something that is not there.” We have reached the information age. Only those infused with the ability play in the global village will break the shackles of their economic constraints. Face it, the industrial age is gone. National borders are disappearing and people should have a global mind- set to expand the horizons of their mental faculties and financial resources. People are looking beyond their national borders to look for better opportunities. Going offshore is truly the stage when asset protection becomes a complex and abstruse concept. It is only after you have done your research and talked to reputable professionals that you will muster enough courage and knowledge to decide if going offshore will suit your financial needs. Most people go offshore for a variety of reasons. Their motives include the quest for privacy and confidentiality, concerns for financial security, fear of the future, rampant litigation, concerns with the government, apprehension concerning local banks, confiscatory taxes, the possibility of matrimonial dissolution, potential business failure, anticipation of debilitating illness, preparation for retirement, providing for the family after death, protecting a lump-sum disability award, providing for a disabled or spendthrift spouse or child (Cornez, supra). German and French businessmen are particularly concerned about the confiscatory tax policies in their homeland. High income taxes spurred the perception by the business community that some governments have predatory instincts. To retain a substantial part of their profits on each transaction, these businessmen avail of offshore companies (conduits).

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