The eight key rules for offshore success are:

SUCCESS RULE #1:Decide whether offshore investing is for you

Some of these people can and will overcome their fears. They will move slowly and super-cautiously at first and become more active offshore as they become more comfortable.

SUCCESS RULE #2:Set clear and obtainable objectives

Only when you know what you want to accomplish can you select the right haven and correctly implement a plan to achieve those goals.

What is it that you want to achieve offshore:

  • Tax protection?
  • Asset protection?
  • Privacy?
  • Higher investment returns and profits?
  • Diversification and safety

Don't set your objectives too quickly. Most Americans and European go offshore for one primary reason- tax avoidance, asset protection, privacy, higher investment profits or diversification-without considering other possible benefits.

SUCCESS RULE #3:Educate yourself

My clients expect me to keep abreast of the newest developments in offshore banking, and offshore events do change quite rapidly.

Talk to people! There are many more people involved with offshore havens than you may expect. Your professional advisors can probably put you in touch with a few.

SUCCESS RULE#4:Hire the right professional advisors

1. Professional status

Your best bet is to hire an attorney or CPA. While professional status hardly insures competence, it does at least give you some assurance the individual has sufficient honesty to keep his or her license. Offshore investing involves many legal, financial and tax considerations that even the most conscientious practitioner will know about, unless they also has had plenty of hands-on training.

2. Experience

Choose a consultant who is well-versed in the many different phases of offshore banking- from planning through implementation.

3. A wide resource network

Good offshore consultants rely upon a wide resource network. You especially want you advisor to be connected with key individuals and institutions within your specific haven.

4. Objectivity and the ability to meet your needs.

Know your overall game plan. That’s why I suggest that you start with a good generalist, one who can objectively design your offshore program.

It's a good idea to first meet your advisors with specific objectives or a game plan in mind. But encourage other recommendations from your advisor. Then probe their advice: have they adequately explained the advantages and disadvantages? The costs? The time and travel required? The options and alternatives?


SUCCESS RULE #5:Integrate your offshore strategies with your financial planning

You must, therefore, integrate your offshore arrangements into your overall financial plans, and particularly your estate planning.

Offshore banking is only one piece of your total financial future. That piece must fit perfectly with the other pieces.


SUCCESS RULE #6:Personally check out your haven

My clients visit their chosen haven-before before they send their money. You need do understand how their people think and get a sense of their politics, legal system, economy, and culture. You need to meet and talk to their bankers, business people, lawyers, accountants, and the many others you will do business with.


SUCCESS RULE #7:Take the plunge

Others fall victim to their fears. Still others become discouraged by the expense, time or effort required to make it happen. Then there are those who discover that the offshore havens won’t accomplish their goals.

Don’t delay because the investor will only delay the financial benefits they hoped to achieve.

Investa fewinitially. Feel the way. Develop confidence. Learn the ropes gradually. When the investors are ready, invest more. But they must begin with that first important step!


SUCCESS RULE #8:Continually develop your offshore strategy

Continuously adapt your offshore program to meet those new needs and capture those fresh opportunities.

Offshore investing can be an evolutionary process. The point is that the investor must constantly reshape their offshore activities to fit your available resources, your growing confidence, skill and, of course, those new opportunities. In summary, you must maximize your offshore commitment to maximize your financial future.