Unless you are buying through an offshore company, you will have to pay Property Transfer Tax.
"There are a lot of negative thoughts about offshore planning with various root causes," says Rosen. "One of the misconceptions is that if you set up an offshore account, you'll have to repatriate the cash if you're ever sued or face jail time for civil contempt.
"This will create a big and viable market for offshore so that what you'll see is a decoupling of the two supply chains between on and offshore and companies building specific offshore wind equipment".
"Someday all these anonymous offshore accounts will belong to shell companies of which you will deny all knowledge".
You will need to prove your identity, even though an offshore Cyprus bank will provide an anonymous account.
Offshore banks will take deposits down to $1,000, but for a personalised 'private banking' service, you will need to deposit $100,000 or more.
But you will own a piece of the insurance company, the moneys will be held and tax deferred offshore, and eventually you will get your money back (and, wink, wink, maybe even figure out a way not to pay income taxes on that money).
Establishing an offshore trust will set you back at least a few thousand dollars, more if you want something fancy, plus a similar amount each year for paperwork.
Dig deep inside the affairs of every politician and you'll find offshore accounts and allegations of corruption.
In fact, even though an offshore trust will allow you to invest in foreign-based mutual funds and hedge funds, Shogren says a lot of these managers don't relish the idea of letting you in, because it saddles them with extra paperwork.
