Nevis - the place where people have to post a $25K bond to sue you

Asset protection and Nevis related biz/monies is a pretty simple game. Rules go the same as any other country/territory...

Rule #1: Do not fuck with a bank or government's means of income.
Rule #2: Do not fuck with a bank or government's reputation.
Rule #3: If you choose to fuck people or corps out of money, make sure they aren't connected to ruthlessly dangerous people/groups, governments, or banks.
Rule #4: If you decide that you are above the law, and break rules 1, 2 & 3 at any time you hereby agree to be assraped, put into debt for life, shot, drowned, stabbed, beaten down, and likely thrown into prison for a long long time. Hiding is also an option, however you are very likely to be found at some point and you can bet it will not be in a pleasant manner.

Pretty easy game this business stuff is I tell ya.
 


So what are the disadvantages to a Nevis LLC? (and yes, I googled it but all the pages used words like "problems" or "disadvantages" like "there are no disadvantages" "there are no problems".. of course pages authored by asset protection attorneys)

1) slightly more expensive than filing here in the US
2) miketpowell mentions possibly losing everything you have when the foreign bank takes all your money (cites anecdotal case)
3) anyone else?

This thread interests me because I try to keep things reasonably legit but still get regularly threatened with legal actions. Guess it comes with the territory but making it harder for frivolous lawsuits to get off the ground might make such a move worth it. Could ask my attorney but I've heard if I just do what the next few posters suggest, I can't lose.
 
Avalanche said:
So what are the disadvantages to a Nevis LLC? (and yes, I googled it but all the pages used words like "problems" or "disadvantages" like "there are no disadvantages" "there are no problems".. of course pages authored by asset protection attorneys)

1) slightly more expensive than filing here in the US
2) miketpowell mentions possibly losing everything you have when the foreign bank takes all your money (cites anecdotal case)
3) anyone else?

This thread interests me because I try to keep things reasonably legit but still get regularly threatened with legal actions. Guess it comes with the territory but making it harder for frivolous lawsuits to get off the ground might make such a move worth it. Could ask my attorney but I've heard if I just do what the next few posters suggest, I can't lose.
Click to expand...

Your situation is actually sort I had in mind. It would probably be enough to deter frivolous litigation.

It's not a solution for out and out scammers/tax evaders, because if you're enough of a crook, a government or organisation with serious resources will find a way to nail you no matter what. In the words of Felix Dennis - "your arms aren't long enough to box with God."

With regards to financial asset protection... you have the downside that foreign banks aren't regulated by the Fed / FSA / whatever, so if they go bust, it's Good Luck Bros.

This happened on a large scale back in the 1990s with the BCCI bank. It briefly became the 7th largest private bank in the world, before disappearing into a cloud of smoke.

Bank of Credit and Commerce International - Wikipedia, the free encyclopedia

How you'd deal with that? Well, IANAL but I'd probably go for entity registered in Nevis with a bank account where I'd keep a small amount of money, then another bank account in a more reliable country (maybe even back at home) where you'd transfer most of it. That way if the Nevis bank goes bust, you're not exposed for all of your cash.

Big corps (especially banks) do this sort of shit all the time. However they have lawyers charging them upwards of $2k/hr to sort it out...

I think it's a case of - if you have enough assets to be considering this, you have enough assets to pay a professional $10K to do it properly.
 
what if you create a 2nd cooperation, outside nevis, which only parks the money for example in EU / US and you do business only with the Nevis LLC than you properly safe with that bank (bust)thing, cause the money is now from the 2nd cooperation, maybe with holding structure, but im not sure about the privacy...
 
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