Insights

As an expert in international banking and asset protection, attorney Joel Nagel has advised many companies and individuals about the legal and financial aspects of international business and commercial transactions.

In the following section, you will find many useful articles in which Joel offers practical tips and insights based on his vast experience.

Prater Park in Vienna: ‘I found no Frau Becker…no vegetables, no flowers and only six-foot high weeds growing in what had been Frau Becker’s pride and joy for many many years.’ / http://travelwith2ofus.com/

FRAU BECKER’S GARDEN — THE FRUITS OF SOCIALISM ARE WEEDS

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lockdown illustration

THE CORONAVIRUS LOCKDOWN: THE PERFECT TIME TO STRATEGIZE

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The Three S's

LEGAL PLANNING DURING THE CORONAVIRUS ERA: NO TIME BETTER THAN NOW

All aspects of legal planning can basically fall into one of three categories, which I like to call The Three S’s: Structures, Strategies, and Self.

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us passport

MOST COMMON REASONS FOR A SECOND RESIDENCY/CITIZENSHIP

What are some of the most common reasons that people want second residency or a second citizenship? What are some of the easiest countries to …

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Bitcoin and computer

THE TAXATION & OTHER REGULATIONS CONCERNING BITCOIN & OTHER CRYPTOCURRENCIES

There seems to be extensive talk these days about cryptocurrencies like Bitcoin and Ethereum, but I haven’t read any explanation of how these cryptocurrencies are …

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tax-Best Offshore Trust Jurisdictions

BEST OFFSHORE TRUST JURISDICTIONS

Joel Nagel is an attorney licensed in the United States who focuses on international asset protection and offshore trusts. Mr. Nagel has been a member …

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second passport

THIS IS HOW TO GAIN ACCESS TO A SECOND CITIZENSHIP

There are many ways to acquire a second citizenship. In my law practice we assist with second passports based on your family heritage, passports by …

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cyprus

WHY SHOULD THE GLOBAL CITIZEN CONSIDER CYPRUS’ CITIZENSHIP BY INVESTMENT PROGRAM?

Cyprus is on my personal short list of all-around best places to live, work or retire. You might find anyone reason to relocate somewhere else …

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Joel Nagel

OFFSHORE BANKING WITH ATTORNEY JOEL NAGEL

Today we have an interview with prominent asset protection and international banking attorney Joel Nagel. Mr. Nagel is one of the top experts in offshore …

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european banking

BANKING IN EUROPE

Many people ask me whether banking options still exist for Americans to open a bank account in Europe. The answer is “yes”…but. The truth is …

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CRYPTOCURRENCY BANK

SUCCESSFULLY LAUNCHING A NEW BANK IN THE CRYPTOCURRENCY WORLD

So you’ve decided to launch your own startup bank. And you want it to be competitive in the global banking world while interfacing with cryptocurrencies. …

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crypto bank

SUCCESSFULLY LAUNCHING A NEW BANK IN THE CRYPTOCURRENCY WORLD

So you’ve decided to launch your own startup bank. And you want it to be competitive in the global banking world while interfacing with cryptocurrencies. …

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Bank

HOW TO START YOUR OWN OFFSHORE BANK

When it comes to offshore banking, there are really two main kinds of banks, referred to as class A banks and class B banks. Class …

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WHAT CHOICES DO I HAVE?

Question: I have been looking at second residency and citizenship options in the Caribbean, but I think I’d prefer to have a European option for …

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tax forms

CORPORATE STRUCTURES FOR OVERSEAS REAL ESTATE: PART 1

When determining the most beneficial legal structure to use for buying and holding overseas property, you should consider several factors. In fact, the first question …

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Wilfred Peter Elrington

A CONVERSATION WITH BELIZE’S FOREIGN MINISTER

In this week’s “Ask the Ambassador,” I get to ask the questions instead of answer them. I had an opportunity to sit down with Belize’s …

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Belize

TOP PLACES TO RETIRE IN BELIZE

There are really lots of places to live and retire in Belize. It’s a wonderful country with friendly and hospitable people. The classic refrain you …

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dollar bill

HOW CAN I SET UP MY OWN INTERNATIONAL BANK?

I understand that it is becoming more and more difficult to set up an international bank and, especially, to access correspondent banking services. Is it …

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Cryptocurrency

INVESTING IN CRYPTOCURRENCIES THROUGH YOUR IRA

In last week’s “Ask the Ambassador,” I answered a question from Mike from Portland regarding the reporting and taxation of cryptocurrencies. To review that article, …

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Property

CORPORATE AND LEGAL OWNERSHIP STRUCTURES FOR OWNING FOREIGN PROPERTY

There are many factors that go into determining the right type of structure you might need (if any) to hold your overseas property. Generally, I …

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Puerto Rico

BENEFITS OF PUERTO RICO’S ACT 20 & 22

Puerto Rico is an amazing opportunity for US citizens to reduce their corporate tax to 4% and their personal income tax on capital gains to …

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team work

HOW TO PLAN A FAMILY OFFICE

Family offices and multi-family offices are the fastest-growing investment vehicle for high net worth families (those managing over $100 million in assets). It’s difficult to …

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Calculating tax

HOW TO TRANSFER ASSETS TO YOUR HEIRS AND AVOID ESTATE AND GIFT TAXES

If you’re investing in assets that you expect to increase in value, and you plan to hold those assets for a number of years – …

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Coins and bills

DISCOVER THE BEST JURISDICTION FOR YOUR OFFSHORE TRUST

The best asset protection structure for most U.S. citizens is an offshore trust. When structured properly, an offshore trust provides maximum protection and planning opportunities. …

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bank

NESTED CORRESPONDENT BANKING ACCOUNTS

A nested correspondent banking account is one where a service provider sets up a master correspondent banking account at a large bank. Then the provider …

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Offshore trust

THIS IS THE INSIDE SCOOP ON OFFSHORE TRUSTS FILING REQUIREMENTS

Some people mistakenly think that if you have an offshore trust then you don’t need to file anything on it with the IRS. That is …

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UN Vienna Austria

WHAT ARE THE WAYS TO GO ABOUT GETTING A SECOND PASSPORT AND WHY IS A SECOND PASSPORT GOOD TO HAVE?

There are a variety of ways that one can get a second passport. Generally one receives the citizenship of either the place they are born …

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Cryptocurrency

THE TAXATION & OTHER REGULATIONS CONCERNING BITCOIN & OTHER CRYPTOCURRENCIES

For now the issue is how should cryptocurrency like Bitcoin be reported and how and when is it taxed? The IRS currently considers cryptocurrency to …

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IRA

THIS IS HOW TO STRUCTURE LARGE OFFSHORE IRAS

If you have $60,000 in an IRA and want to buy U.S. stocks, just about anyone can help you. If you want a tax-efficient structure …

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dynasty trust

HOW IS A DYNASTY TRUST THE PERFECT GIFT FOR MY FAMILY?

Dear Ambassador Nagel, what is the reason to set up a “dynasty trust” instead of more common types of trusts and traditional estate planning? Ambassador Nagel:  This …

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Offshore Trust

THE MYTHS AND REALITY OF ESTABLISHING AN OFFSHORE TRUST. IS ONE RIGHT FOR YOU?

Foreign trusts can be utilized to administer assets cost effectively in one jurisdiction, avail themselves of pro-defensive legal rules in another, eliminate the English Common …

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Banking privacy

HERE’S HOW TO MAXIMIZE PRIVACY IN YOUR OFFSHORE TRANSACTIONS

Up until about 1995, the very rich could open numerous accounts in the Cayman Islands and Switzerland. The bank had no idea who the beneficial …

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Offshore Business Taxation

GET TO THE HEART OF ACTIVE OFFSHORE BUSINESS TAXATION

The following is a guest post by Attorney Joel Nagel on offshore business taxation. Question: What are the tax considerations for having a U.S. owned …

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foreign currency

HOW TO PROTECT YOUR ASSETS WITH A FOREIGN CURRENCY ACCOUNT

In times of political and economic turmoil, the first and most important form of international diversification is to open a foreign currency account offshore. Get …

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