World Domination Begins With Getting a System in a Modern World-Chapter 44: An Offshore Trust Holding Company

Nearly an hour has passed since Patty started explaining everything about a holding company to James.

She took her time, explaining every single thing that he needs to know about holding companys, and she answered all the questions he had.

She didn’t only explain everything about a holding company, she actually went as far as explaining everything surrounding it and giving James well structured opinions.

James was left deeply impressed by Patty’s vast knowledge.

With her wealth of knowledge in business related matters, he found it hard to believe that someone like her was working and wasting her talent in a community bank. But he was aware that there was definitely a story behind it and he didn’t want to pry, so he didn’t bother to ask.

Back to the present. After hearing Patty explanation and everything she said about a holding company, James finally made a decision to create one.

Before he thought that he might be a good idea and wanted to discuss it more with Patty, so that she can explain everything to him. And now that she has done that, he was convinced that creating one would be the best decision.

From what Patty said, creating an irrevocable offshore trust holding company would be the best idea.

Patty initially told him to create a small holding company, manage it and slowly build it up but James refused.

With the way things are going and the plans he’s slowly cooking up in his head, James felt that creating a small holding company would be a waste of time, and he decided to go with an irrevocable offshore trust holding company.

And yes, just as the name sounds, it would be a lot of work to create it but according to what Patty said, it’s the only type of holding company that offers what he wants: complete anonymity and absolute control behind the scene.

For someone like James who doesn’t want to make his name known and start appearing in articles and tv news for absolute no reason, this was the best choice.

And also, according to what Patty said, it’s the best way for him to play like the wealthy: taxe reduction and even non payment.

With its many advantages — anonymity, tax benefits, and full control — James knew this was the best choice for him.

"When do we start?" He asked curiously, with excitement on his face.

Patty laughed when she saw how enthusiastic James was.

"Calm down and take a deep breath first," she laughed.

She knew that he wants to get everything started immediately but that won’t be possible for so many reasons.

And before Patty go ahead with anything, she wants to have an idea of James finances. Though he might not want to disclose it to her, but with the structure of the irrevocable offshore trust holding company, he has to.

With the structure of an offshore trust holding company, James can’t have direct ownership of the assets, as it would be under the name of the offshore trust and managed by the offshore holding company, an LLC.

And not only James but anyone related to him, a US citizen or based in US can’t be related to the trust in any way, as it would increase risk for him.

The real reason Patty wanted to know about James’ finances was to determine the amount she needed to declare when setting up the trust.

"First thing, James. I want to know how much your initial capital is," she said, and James nodded, as a smile painted his face.

"$5M in cash... and I still have crypto asset worth $24M," he replied.

He watched Patty, expecting shock, but her reaction was different from what he anticipated.

Patty’s eyes widened slightly and her mouth opened slightly, in shock, when she heard what James said, but she regained her composure.

She remembered James telling her that he won a substantial amount of money from betting but she had no idea just how substantial it was. Also, the $24M in crypto asset was shocking.

’How does he have so much money?’ She thought to herself.

Though she was curious, she didn’t want to ask too much question. She knew that James wasn’t into anything illegal as it would be impossible for the money to be in his bank account if it was.

"Almost $30M... That’s quite a lot of money. Do you intend to liquidate your crypto asset into cash and fund the trust with the money? Or are you going to transfer the asset and have the LLC manage it?" She asked, with a serious expression on her face.

"I intend to transfer the crypto asset," James replied.

"How much would it cost to establish the trust holding company and get it running," he asked curiously.

"A maximum of $80,000 will take care of everything and we will be spending around $100,000 each year to maintain it," Patty replied.

"That’s quite cheap," James said, in surprise, when he heard the cost of creating an offshore holding company.

"Look at you calling $80,000 and $100,000 cheap," Patty said, as she pinched his cheeks playfully.

"I know it isn’t exactly cheap. It’s just that..." James said, and trailed off.

"It wasn’t as much as you expected. Compared to the millions in your account, the amount is nearly negligible," Patty said, completing his words, and James nodded in confirmation.

"If your business partner wasn’t Ralph, I would had said that the person was probably scamming you." She smiled at his naivety.

"The process of establishing the offshore holding company will begin next week and a legal team that specializes in offshore asset management will be needed," she said, and James nodded.

"Thanks, Patty," James said, as he pecked her on the cheek and stood up from her bed, and left her room.

There was no need to discuss more on this and there was nothing more to discuss. Also, since everything will start next week — less than two days away —, he will see things for himself.

Patty smiled as she watched James leave. She couldn’t explain just how happy and she was of him.

She has no idea how he did it but going to from nothing to a millionaire in just a couple of days, was nothing short of a miracle.

"I’m sure you still have a lot to achieve."

***

James made his way downstairs, to the living room, after leaving Patty’s room. As he made his way downstairs, he heard music coming from the living room and he smiled.

"She would probably be dancing right now," he said to himself.

As expected, when he got downstairs, he saw Leslie dancing. James smirked when he saw this, as he decided to tease Leslie.

"Shakira! Shakira!!" He shouted in his loudest voice.

Leslie paused her dancing and slowly turned to look at James, with a piercing glare. freewebnøvel.com

James saw the look on her face and smiled in satisfaction, before immediately making a run for it.

"James! Die!" Leslie shouted, as she chased after him.