A Nevis Multiform Foundation is a unique type of offshore foundation.
Like an offshore foundation it is a separate legal entity with beneficiaries.
Also, the founder elects whether to run the multiform foundation like a company, LLC, or a trust.
This makes the Nevis Multiform Foundation resemble entities found in the USA.
Other Nevis Multiform Foundation benefits include:
-can conduct an active business
-no recognition of foreign judgments for asset protection
-no taxes in Nevis
-privacy and also confidentiality from public records
-the founder (person who sets it up) can manage foundation, unless (or until) involved with a lawsuit
-a “supervisor” can step in to manage the foundation if the manager is involved in a lawsuit
-disregarded entity status available for pass-through IRS taxation
-finally, minimal offshore reporting requirements for single member LLC foundation
Colin Ley is an asset protection attorney and the co-founder of LayRoots (along with with partner in life & business – Shreya Ley)
Schedule a free, quick call for us to talk about your asset protection strategy at livemorecarefree.com.