Transcription
Fintechs are not safe. Don't get fooled. They are not safe, any of them.
In the asset protection, I would not even need to have Mercury Bank's fintech, all this stuff, cuz it's for asset. I want it to be safe. Chase, Bank of America, a Panama bank, a Cayman Islands bank, any bank that is robust. You want to open in super secure banks in Singapore, in Panama, and all of this. It's going to be a ton of problems, but with US LLCs, they are so accepted.
On top of this, multiple jurisdictions that are strong on holding assets. In the asset protection, I would not even need to have Mercury Bank's fintech, all this stuff, cuz it's for asset. I want it to be safe. Mercury is not safe. Fintechs are not safe. Don't get fooled. They are not safe, any of them. Chase, Bank of America, a Panama bank, a Cayman Islands bank, BBI, like any bank that is robust that can be opened with an LLC. We talked about US LLCs directly, cuz if you try to get a UK LLP or a Dutch company or this, you want to open in super secure banks in Singapore, in Panama, and all of this. It's going to be a ton of problems, but with US LLCs, they are so accepted.
So, US LLC with bank that can be offshore, ideally offshore, multiple jurisdictions that are strong on holding assets. And on top of this, we didn't talk about it before, but I would attach a brokerage account. Okay? That's for me a a top addition on this, cuz instead of holding money cash, which gives you no yields over the year, on the contrary, there's inflation, so you lose 4 to 5% per year if you hold money in cash. What you do is you attach it to a brokerage account. That gives you the robustness of the bank. You can have a Singapore bank, which is the best in the world for asset protection. Like this is one of the best. They are super secure, but your assets are in the S&P 500 or they are in the ETF. So, you get exposure to the S&P, giving you 10%. Doesn't matter, but you beat inflation, you make a profit, and your assets are in the same robustness of a bank.
>> Crypto directly with that one.
>> Yeah, the crypto as well, but with this, I would not put it on an LLC, unless for some reason you want the ETF. For example, just a quick bracket, you can get Portuguese citizenship by exposing yourself to half a million euros in Bitcoin ETF. So that would be the only reason that you might be interested in in doing the brokerage account in your name, etc. etc.
But that being said, you want to have the crypto in a cold wallet or multiple cold wallets in safe places. Some people say in my parents' home that nobody knows where is it, in a small room, in a small box, in a corner of something. That's one thing. Some people want to put it in a vault, in a safe vault, in a bunker somewhere, or in dedicated places in Dubai, in Singapore, in Panama. We have a really good contact in Panama for that. That's whatever you feel safe storing your cold wallet. But for me, that's the best or keeping the seed phrase in your mind. So as long as you are alive, then, you know.
Yeah, correct.
>> The thing also is with crypto, the moment that you put your crypto assets in an LLC, you have to keep it there. The moment that you do one or two transactions, it will will be taxed. It depending where you put your LLC, obviously, but
>> Yeah, and depending on your personal tax residency.
>> So if you want this tailored to you, you want to book a time, a call with us, a discovery call, you can do so in the description down below.