Many investors prefer an LPN structure because they can use it to effectively increase their wealth, regardless of the country in which the asset is located. Because it is a legally binding entity, an LPN allows a person or company to protect their assets through the courts in their own country of residence, even if the asset is overseas. This is useful when dealing with lawsuits involving assets or disputes regarding ownership.
Offshore Company Formation – Avantages & Disadvantages
The disadvantages of an LPN, however, is that it usually requires more paperwork and legal documents to get started. It may take more time and require additional paperwork and fees to maintain the status of the offshore company.
An Offshore Limited Company (OLC) is a slightly more difficult type of Offshore Company structure to set up, but it can be set up much quicker than an LPN. There are no trusts involved, and the company cannot maintain a separate bank account. An Offshore Limited Company can be used as a general business entity for many purposes, and it may be operated with or without a trustee or manager. If you are looking to protect your asset ownership or privacy and/secrecy from the outside world, an OLC may be a good choice.