PFGAP  "Asset Protection That Works"

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  F.A.Q.    

 

Copyright © 2003
All Rights Reserved


 

 

WHY DO I NEED YOU? CAN'T I FORM MY OWN ASSET PROTECTION ENTITY?

Yes you can, but the key to asset protection is privacy, a Nevada corporation, a nominee officer, Bearer shares, a private bank account, and several specialized structures which must be applied in a logical entity to make the asset protection work and remain  anonymous cannot be done by yourself.  If you structure it yourself, you will not have all the pieces in place and your asset protection is in jeopardy.  You can get a Nevada corporation on your own cheaply, but if structure and  anonymous structures will allow anyone to find your assets.  No company offers the combination of services and price that we do -- we guarantee it. In 14 years of doing business, none of our clients has been sued. No one else offers our unlimited, free consultation once you have your asset protection structure from us. You will always know the best and most effective way to use your  asset structure.

 

 

DO I NEED TO PROVIDE ANY EXTRA DOCUMENTS TO SET UP AN ASSET ENTITY?

No, we do everything for you to set up the corporation. If you are going to be the signer on the corporate bank account, the bank requires a signatory form, which we provide to you. All we need from you is the name you want for the corporation, and the address to FedEx the corporate documents.

 

 

IF I HAVE A NOMINEE OFFICER, CAN'T HE STEAL ALL MY MONEY AND ASSETS?

No. Nevada corporate law states that the shareholder's are the owners of the corporation. The officers are 'employees' of the shareholders and cannot execute a transaction without shareholder approval. In your Nevada and/or offshore corporation, YOU are the shareholder.  Your corporate bank account is set up so that YOU have the only access to it, while remaining anonymous. Your nominee officer will be demonstrating trust in you. You will have his social security number. A nominee director functions in a fiduciary capacity like your stockbroker or accountant.

 

 

IF THE BANK KNOWS WHO I AM, DOESN'T THAT DIMINISH MY PRIVACY?

Yes. But no one can sue you for being a signer on a corporate account because they cannot prove you opened the account, or own it personally. You can appoint someone else as signer for your Nevada corporate account (with full security safeguards in place, of course) so that you can bank with total anonymity in the U.S.  If you're signer on your offshore account, you fall under the controlled foreign corporation law and must report income in this account to the IRS. There is a way to report offshore income without revealing its source. We advise you how to do this. No one from the U.S. has jurisdiction over your offshore account, unless you've been convicted of a serious felony.  Bahamas law strictly prohibits the disclosure of any information about anyone owning a Bahamas corporation to any outside, third party. When we form your Bahamas corporation, the Bahamas government never even knows who you are, and never is given any information about you.

 

 

HOW DO I BORROW MONEY, IF ALL OF MY ASSETS ARE HIDDEN?

There are many ways. You can get a no-income, no-qualifying mortgage or loan if you need to buy property. They may loan only 70% of the value rather than the 80% you get with asset qualification, but these loans still are easy to get. They use the property itself as collateral and you don't have to show income or assets. 

 

 

DO I NEED TO PROVIDE ANY EXTRA DOCUMENTS TO GET AN OFFSHORE CORPORATION?

We do everything for you, to set up your corporation. But every offshore bank/brokerage requires the following documents from the person who will be the main signer/beneficial owner of the account. No one in the U.S. has any jurisdiction to get this information, but the bank/brokerage itself must know who the signor is:

  • Signed, notarized, four-color copy of a Passport. The picture must be clear.
  • A bank reference letter stating the banker has known the signer and/or beneficial owner for at least three years.
  

 

 

IS HIDING MY ASSETS LEGAL?

Yes. Curiously, we have a double standard in this country. When the wealthy and/or famous protect their assets, people call it smart financial planning. When the rest of us do it, they call it evading creditors. But under the law, everyone has the legal right to protect their assets, and they should do so.

 

 

WHY DO YOU NOT ADVOCATE OR OFFER TRUSTS?

Trusts are very expensive (as much as $40,000 to set up and $20,000 a year to maintain), they're too complex and they are inflexible. You cannot easily move an asset in and out of a trust. There are too many bogus trusts and sham trust promoters out there, so consequently they are always under federal investigation. We strongly urge you to stay away from offshore trusts. An international corporation gives you the very same protection as a trust at a fraction of the cost, with much greater flexibility and ease of use.

 

 

IF MY NOMINEE DIRECTOR  IS SUBPOENAED, DOESN'T HE HAVE TO SAY I OWN THE CORPORATION?

No. He legally and truthfully says he doesn't know who the owner is. This is because he does not know who is holding the Bearer shares for your corporation. You also can say the same thing, if questioned. You do not legally 'own' the corporation if you do not have the Bearer shares in your direct possession at that moment. Nevada does not keep track of amounts of stock issued nor to whom, nor doest it require corporations to ever issue stock in the first place.

I ALREADY HAVE A CORPORATION IN MY HOME STATE. HOW DOES A NEVADA WORK WITH IT, AND SHOULD I HAVE A NEVADA?

Nevada has no corporate or personal income tax. This may be important if you live in states with state income tax rates that are high. The first step is to establish a Nevada corporation to work with your current non-Nevada corporation. Then you can employ your Nevada corporation to provide a service to your non-Nevada corporation. Your Nevada corporation can be a supplier, financial consultant, marketer, advertiser, management consultant or serve in some other capacity as a provider of services to your non-Nevada corporation. Then your non-Nevada corporation can pay your Nevada corporation for services rendered, creating an expense for your non-Nevada company and income for your Nevada corporation in a tax-free state.

HOW DO I KNOW IF I EVEN NEED ASSET PROTECTION?

Take the Risk Analysis Survey below and find out!

CAN I TRANSFER MY DELAWARE CORPORATION TO A NEVADA CORPORATION?

A Delaware corporation can do business in Nevada but you can't transfer the corporation to a Nevada corporation to get Nevada's privacy; they are two separate entities.  Delaware is an excellent state to incorporate for public companies, but it offers no privacy and anonymity. 

CAN A NEVADA CORPORATION OWN A CORPORATION IN ANOTHER STATE?

Yes, a Nevada corporation can be the part or sole shareholder of a corporation in another state. 

Risk Analysis Survey

This is a sample ten-question Risk Analysis Survey (RAS). We ask you to be completely honest with yourself when answering these questions. Many of these questions appear on the full RAS, which is available free to anyone who asks. This is a start to see if you even have any need for asset protection.  

These questions were not created randomly. They have been gleaned from years of research. The full RAS test explores, in depth, many more areas of potential exposure that the average person encounters in their daily life. In addition, the full survey researches actual dollar values of exposure to determine whether there is a cost benefit to an asset protection strategy. 

So, see if asset protection and financial privacy is right for you! Feel free to print this page to take the survey on paper.

 Confidential Risk Analysis Survey
 

1. Do you have assets (cash, property, stocks, business or personal equipment) that could become the target of collection attorneys, lawsuits, court judgments, or the hostile action of government agencies? 

Yes   No

2. Have you or your company ever been threatened with a lawsuit, or are currently a defendant in any lawsuit? 

Yes   No

3. Are you facing or contemplating a divorce? 

Yes   No

4. Are you, your business, any of your partners, or any of your family members potentially the target of any creditor or collection agency, or a target of an investigation or audit by any government agency? 

Yes   No

5. Do you own your home? 

Yes   No

6. Do you own securities or other financial instruments? 

Yes   No

7. Do you own a recreational vehicle, boat, or plane? 

Yes   No

8. Do you own a second home or other real estate? 

Yes   No

9. Do you own a share of a business or share a practice in a profession? 

Yes   No

10. Do you currently have a reason to need or want asset protection and financial privacy? 

Yes   No
 
If you answered YES to any of the aforementioned analysis, you need to contact us immediately Toll Free 800-622-4808



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         PFGAP            160 W. Foothill Pkwy Suite 105/41 Corona, CA 92882 800-622-4808

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