NEVADA CORPORATION for Asset Protection - Posted by chris

Posted by Laure on November 20, 2000 at 21:31:54:

Check out “Sage Intl” They are a pretty reputable group.

Laure :slight_smile:

NEVADA CORPORATION for Asset Protection - Posted by chris

Posted by chris on November 20, 2000 at 14:17:05:

Hey Pro’s,

Have any of you ever heard of a Nevada Corp?? I heard about it through my real estate investment group. Apparently, anyone living in any state may set up a corporation in the State of Nevada through a company based in Nevada, and then dump all of one’s assets into it for total asset protection.

I have heard that this company (name not handy right now) for a small fee will set up this corp, you assign the appointees, some of which may be located in the company in Nevada, and BINGO.

The shares are apparently called Bearer Shares, meaning whomever actually holds the paper…or bearer shares, is the current owner. THUS, the corporation is as liquid as dollar bills!!! This is pretty convenient when someone is trying to seize assets.

I am wondering if any of you have utilized such an avenue, and what your opinions are as to its effectiveness. It sounds fantastic to me!!!


Not so fast . . . - Posted by William Bronchick

Posted by William Bronchick on November 21, 2000 at 10:56:08:

If you incorporate in NV, then do business in your own state, you have to register the corp in your own state, then pay fees to both NV and your home state. In addition, the names and addresses of officers and directors now become public in your state.

As for “bearer” shares, many states permit this, but it won’t get you around fraudulent conveyance laws. The “passing around a hot potato” theory sounds good, but does’t really work.

Save your money and incorporate in your home state.