Ever seen an offshore banking website claim that they can help you keep your privacy by signing for you on your account? That may sound great right now, but do you even know what that means? This article will help clear up this little mess.

First off, you have to realize you won’t be the only customer of this person. He may sign for your account and also someone who deals drugs to high school children in America. And even though he promises to keep your account private, it will be anything but if he is exposed to be holding the account of a criminal. What does this mean? It means that for a crime you didn’t commit, all your assets have now become public knowledge and you will never get that privacy back again. Is that a risk you are willing to take?

Isn’t this the same story with everyone? Actually, no with lawyers you get a certain right in most countries including the United States and Panama. It is called attorney-client privilege. This means that any private conversation you have with a lawyer cannot be used against you in court and neither party can be forced to reveal information about said conversations in a trial. This means that your lawyer can create an account for you and someone else, and not have to reveal your account if he is later linked to a criminal. All the more reason to get your offshore bank account done properly.

Also remember that if you do take the initial offer to have a random person sign for your account, you are putting your privacy in the hands of someone you do not know. Panama banks can’t stop this person from telling whoever he wants that you have a certain amount of assets. You can stop a lawyer from doing so.

A final, and the worst-case scenario type, problem is if the said person decides he is going to scam you. That means he will contact you, tell you he is taking your assets and putting them in an account and then run off with the money. Or better yet, just pretend there was a technical mess-up or it was stolen. He has nothing to lose as you were keeping it private that he was putting your assets in these accounts in the first place. You have no proof that he is lying and are out all your money. So again I ask, is it really worth the risk to trust someone?

The best way to make sure your money is protected is by having a lawyer you can trust draft all the legal documents for you and going to Panama yourself. Once there you can set up a corporation and a foundation of which you will be the protector of your assets. Now you have full say about what your assets are doing and the only people outside of Panama who know about your assets are you and your lawyer. And remember your lawyer cannot legally tell anyone about your private conversations. It would ruin his or her career if they did so.

So stick far away from offshore websites who make big promises without showing who they really are. If you really care about your assets, take the time to ensure that they will be treated properly.