Effects of (FATCA) on U.S. Citizens make Wyoming Asset Protection a Rival to Offshore Tax-Havens
CHEYENNE, WY, April 17, 2015 /24-7PressRelease/ — OUTPOST PROVISIONING LLC today announced the launch of its “Wyoming…the Offshore Alternative” campaign alongside release of its Wyoming Paymaster Purpose Trust product.
“Wyoming…The Offshore Alternative” touts Wyoming as being the Offshore-equivalent for wealth protection without the inconvenience, scrutiny, compliance costs and risks involved with going offshore, which is exacerbated by FATCA. Obama’s HIRE Act which included the Foreign Account Tax Compliance Act (FATCA) was signed into law on March 18, 2010 with House Resolution 2847, and with it, U.S. Citizens face more complex compliance requirements and risk of audit when venturing offshore.
“Given the increased risk to wealth accumulation brought on by the wealth-grab initiatives of this Administration under the guise of “Income Inequality,” “Wealth Redistribution” and “Medicaid Estate Recovery,” combined with the trend toward increased civil litigation, asset protection is no longer a privilege of the “Elite” rather, it is a necessity by a wide spectrum of “middle-class” people and small business owners,” said Nicholas Parino Jr., CEO.
“With the U.S. crack-down on unreported offshore bank accounts with severe criminal penalties and debilitating fines, now is the right time to position Wyoming and Wyoming trust statutes as being an effective wealth protection alternative to going offshore.” said Parino.
All of the benefits that Wyoming has to offer which extend to Non-Residents of Wyoming who accumulate assets and investment income in a Wyoming Self-settled Qualified Spendthrift Trust which include:
– No state tax (income, estate, capital gains, corporate or gift)
– No tax on mineral ownership
– No intangibles tax
– Low property tax
– Fast and efficient court systems, which include access to Teton County, Wyoming judiciary and juries. Teton County, Wyoming is one of the wealthiest counties in the U.S. and the judiciary has vast experience in the issues of high net worth families and individuals.
– Strong privacy laws, including LLC protections and no owner registration or disclosure requirements
Additionally, Wyoming is one of only a few top-rated trust situs states that allow for the formation of Unregulated Private Family Trust Companies and only Wyoming offers ZERO minimum capitalization.
Parino went on to say “The Wyoming Paymaster Purpose Trust package (featuring a Self-Settled Qualified Spendthrift Agreement) is the same full-featured trust instrument that is used in the more robust trust package. It is designed as an “entry level” asset protection structure ideally suited to protect a particular transaction or meet the needs of individuals or families currently with a small asset base and/or with a potential windfall expectation, but with the capability to grow into the more expansive structure by adding the Private Unregulated Family Private Trust Company and additional stand-alone structures at a later time.
A leader in asset protection innovation, OUTPOST PROVISIONING LLC is revolutionizing the asset protection industry by bringing Offshore-level asset protection within financial reach of middle-class business professionals, individuals and persons engaged in high-risk occupations, making it cost-effective and easy to implement.
