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Attack on property: Your fundamental right to property in danger - How you can protect yourself

Attack on property: Your fundamental right to property in danger - How you can protect yourself

Introduction

The Federal Ministry of Finance is planning far-reaching powers to access private assets with the new "Anti-Money Laundering Act". Under the pretext of combating money laundering and terrorist financing, assets of 100,000 euros or more are to be confiscated - without a court order and under vague suspicion criteria. But there are legal ways to protect yourself against this.

The planned law: a threat to your assets

The draft law provides for assets with a value of EUR 100,000 or more to be classified as "suspicious" and confiscated without criminal proceedings. This does not only affect real estate or Cashbut all assets such as securities accounts, jewelry, life insurance policies and company shareholdings. The criteria for suspicion are extremely vaguely formulated and open the door to arbitrary expropriations.

Suspicious facts

For example, an asset is already considered suspicious if the authorities believe that your income and assets are not sufficient to afford it. So if you live frugally for years and then treat yourself to a property or an expensive car from your savings, this could already be sufficient grounds for expropriation. Even if you hold your assets in a trust or abroad, you are automatically considered a suspect - regardless of whether you have done anything illegal.

Risk countries

It becomes particularly absurd if you live in a so-called "risk country" or do business there. Then you are fundamentally suspect and all your assets could be confiscated. These "risk countries" include not only countries such as Syria or Afghanistan, but also Panama, the Philippines or Dubai. Even if you have employees living in one of these countries, this can result in all your assets being classified as suspicious. The criteria are so vague that practically anyone can come under suspicion - a nightmare for anyone Citizens.

Even the police warn against the law

Criticism from the police union

Even the police union has sharply criticized the draft law. In a statement, it says that the draft is "hardly suitable or even unsuitable" for effectively combating financial crime. Instead, it places all citizens under general suspicion and is a harbinger of the government's "expropriation fantasies".

Alarming warnings

When even the police warn about the law, alarm bells should be ringing for everyone. This warning attitude shows how far-reaching and potentially dangerous the planned measures could be.

Protect your assets with a US LLC

Advantages of a US LLC

In order to protect yourself from the German state's access to your legally acquired assets, it is advisable to set up a Limited Liability Company (LLC) in the USA. As the USA is not part of the EU, German authorities have no way of accessing or expropriating the assets of a US LLC.

Control over your property

With a US LLC, you retain control over your property and protect it from arbitrary measures. The LLC structure provides a legal barrier that makes it difficult for German authorities to access your assets.

A US bank account as an additional protective shield

Advantages of a US bank account

In connection with your US LLC, you should also have a Bank account in the USA. This protects your financial transactions and your assets from access by the German authorities.

Privacy and security

Even if you have no entrepreneurial ambitions, a US account in combination with an LLC offers effective protection for your private assets. You only have to report the profits from your LLC to the German authorities, but not details of your account movements or assets.

Conclusion: Act now to protect your assets

The planned "Asset Confiscation Act" poses a serious threat to the fundamental right to property. Under flimsy justifications, assets are to be confiscated without judicial control. But with a US LLC and a linked US bank account, you have the opportunity to protect your legally acquired assets from being seized by the German state. Act now while you still have the opportunity - the government's plans do not bode well. Protect your assets before it is too late.


FAQs

What does the planned law provide for?

The law makes it possible to confiscate assets of 100,000 euros or more without a court order.

Which assets are affected?

All assets, including real estate, cash, securities accounts, jewelry, life insurance and company investments.

Why is the law problematic?

The suspicion criteria are vague and can lead to arbitrary expropriations.

How can I protect my assets?

By founding a US LLC and opening a US bank account, you can protect your assets from access by the German authorities.

Are US bank accounts safe?

Yes, they offer additional protection against access by German authorities and secure your financial transactions.

Why do the police warn about the law?

The police see the law as unsuitable for combating financial crime and fear that it could lead to unjustified expropriations.

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Disclaimer: Please note that the above dates, tax rates and regulations may change over time. Do not make any independent decisions without first consulting an expert for your individual situation. It is in your interest to always receive individual information from an experienced expert who knows your situation.

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