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Preface

Unfortunately keeping this report up-to-date is like trying to hit a moving target ... with a rifle. Any time one indulges in an illusion that that the offshore-related legal and regulatory environment has stabilized one is soon disabused of the notion. In the wake of the attacks of September 11, 2001 governments have stepped up their multi-front legislative, enforcement, and judicial assault on political and financial freedom, seemingly with an eye towards ending both as we have known them within our lifetimes (or much sooner). Moreover, to borrow a phrase from social theorist Robert Prechtor (of Elliott Wave fame), the current “social mood” seems to be such that the public accepts their losses with resignation, rather than counterattacking. Our attempts below to summarize this situation cannot replicate the impression obtained from following the news and seeing the ongoing stream of repressive measures introduced and perpetrated.

Thus, after reading this report, one option is to proceed to the W.I.L. Offshore News Digest pages and start reading. (In most cases the headline and brief summary are sufficient to give you the idea behind the item.) This will provide an effective antidote to feelings of complacency and any thoughts that we are exagerating the gravity of the situation. Having said this, neither doing nothing nor worrying too much about the destructive forces at work in the world are prescriptions for living an enjoyable and fulfilled life. Inform yourself, act appropriately, and then move on. In this philosophy we write.

Even were we all residents of a hypothetical fantasy world with a far more stable legal backdrop, this report would still be a perpetual work-in-process. Nobody in this arena has the final word. People and community standards evolve. Changes in the interpretations of the relevant laws and principles occur routinely. Our abilities to articulate certain points improve, as do our strategies and tactics. All of this will be reflected in ongoing updates to this report (and elsewhere on the site).

Introduction

The purpose of this report is to introduce you, the reader, to some concepts and tools that are useful for protecting and increasing your wealth, and to persuade you that they are relevant to you. We believe that investing a moderate amount of time on the subject will provide large returns. If the language sometimes sounds overly paranoid, cynical, or conspiratorial, it only reflects our assessment of the dangers threatening unprotected assets in today’s legal, political, and economic world (see preface above). It is conceivable that even we underestimate the dangers. Fortunately protection that is significantly better than doing nothing can be acquired for a relatively modest expenditure of time and money.

Be clear that going offshore is not risk-free. But neither is doing nothing. We see the lack of urgency that most people with enough wealth to warrant protecting exhibit as analogous the man who jumps off the roof of a highrise, and as he falls past the second floor he yells to a watcher: “So far, so good!” Others may understand the dangers intellectually but fail to act due to a sense of despair or helplessness. In contrast, in certain “push your limits” personal growth workshops one is invited to participate in exercises, such as scaling a high wall, that feel quite dangerous even though there is a failsafe net to catch one should one slip or lose one’s grip – one’s emotions provide a false readout on the dangers to life and limb. We certainly believe that the widely-experienced fears that apparently advise against participating in the offshore world are equally unjustified.

Also be clear that this report is an introduction only. There is no shortage of more comprehensive and legally exact coverage of the subject matter. This treatment is designed to impart some basic knowledge to those with little or no backround in using legal means to protect and enhance one’s wealth.

At the risk of giving away the ending, the answer to the title of this report is: “Yes”! Now for the rest of the story ...