A properly formed limited liability company is a “person” for all legal purposes. It can buy, sell and own property, enter into contracts, sue and be sued. An LLC’s continuing existence generally requires paying an annual fee (in most jurisdictions, just a few hundred dollars) to the authorizing government.
An LLC is legally separate from its Members. Even if there is only one Member (one person owns the entire company), the LLC and the single Member are treated for most legal purposes as two distinct persons. Thus an LLC has no liability for the debts of any Member, nor does a Member have any liability for the debts of the LLC. It is an LLC’s separateness from its Members that underlies its power to protect you from future creditors, including anyone who has won a court judgment against you.
Protection From Currency Controls and Forced Gold Sales
A limited liability company that is organized in an offshore jurisdiction and does not maintain an office in the U.S. would not be subject to future changes in U.S. laws. Thus if a new law in the U.S. ever restricts Americans from acquiring or holding foreign currencies, your offshore LLC would not be directly affected. It could continue to hold and trade currencies and invest anywhere in the world.
Similarly, a prohibition of gold ownership by Americans or a law or executive order requiring Americans to sell their gold to a U.S. government agency at an “official” price would have no direct application to an offshore LLC.
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How the waiting game works in your favor.
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