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The largely unprecedented events in the global financial markets over the past twelve months have resulted in one of the most widely felt and multi-layered crises of our time. As part of the fall-out, the spotlight has inevitably been turned on offshore financial centres and many have been quick to label such jurisdictions as key contributors to the current economic difficulties faced by all. For the holders of the mass of private wealth that exists globally, the ability to legitimately preserve and protect personal assets in a convenient, private, and secure manner using these offshore financial centres may now seem to be under threat. With such jurisdictions placed under intense scrutiny in these difficult times, some have asked whether there remain any advantages to using offshore financial centres to achieve asset protection and succession planning goals.
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The Advantages of Using BVI in an Economic Downturn
This article was published by Private Client Practitioner.