OFFSHORE CORPORATIONS
Using
an Offshore Company to Encumber Canadian Real Estate
1. You own real estate and have equity build
up in the property. You want to protect this asset.
2. You form an Offshore Company that you control,
but ownership is anonymous because of the strict secrecy laws of
the Offshore jurisdiction. Bearer shares can be used for more privacy.
3. Because the Offshore Company will be looking
for good investments, it can negotiate a loan or provide services
to your property. Services can be landscaping, roofing, painting
etc. You decide to secure a home improvement loan from the Offshore
Company. It will loan you the money and take the equity in your
real estate as security. With no usury laws, the Offshore Company
can charge very high rates of interest to move more money offshore
or payments can be set low or rolled back into the note.
4. To protect its interest, the Offshore Company
will file a lien against the property. A Trust Deed document is
filed at the County level which allows the Offshore Company to take
a first lien position on the equity of the property after the senior
mortgage debt is satisfied.
5. If the worst happens, due to lawsuits and judgments,
a bad economy, or even bankruptcy, the next step would be the result
of your asset protection strategy using an Offshore Company to encumber
your assets.
6. Upon the sale or liquidation of the property,
the title company will do a search for liens against the property.
Such a search will reveal a lien, secured by a Trust Deed, to the
Offshore Company. After the mortgage company’s (if any) debt
is paid, any excess equity will be paid to the Offshore Company
to satisfy the home improvement loan, secured by the Trust Deed.
Using an Offshore Company
to Encumber U.S. Company's Assets
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Additional Information
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