There is no restriction on opening an offshore account, as long as the entity, whether an individual or legal entity, fits within the rules of the jurisdiction in which it wishes to operate. However, there are different ways of doing this type of procedure. The main ones are:
Trust is a legal instrument seen as an excellent strategy for asset protection. It is a legal relationship through which a certain asset is managed by a formal owner (trustee) for the benefit of a third party, who also owns real rights over the same asset and receives special legal protection. It is a tool widely used in Estate Planning, which is a mechanism that allows protecting family assets, ensuring the optimization of succession and reducing the incidence of taxes in investment businesses.
Limited Liability Company
LLC, an acronym for Limited Liability Company, is a type of company incorporated as a limited liability company in the United States. It is a organization that attracts more small businesses, as it offers some tax advantages, tax benefits and less income tax. One advantage of the LLC is that the partners do not need to live in the country, which is good news for foreign entrepreneurs looking to invest in the United States.
Offshore company (IBC)
The IBC (International Business Company) is a limited liability company with no obligations. It is the most used business structure in the offshore world and is characterized by being exempt from taxes, accounting and the anonymity of its owners. In practice, an IBC is virtually identical to an LLC, but IBCs offer more traditional corporate formalities and control structures, and are quite rigid in economic terms. LLCs offer more flexibility on the economic side and less rigidity on the governance side.