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Company, residence, driving licence, property and car: Stefan Neuss explains the "island solutions" every business owner should build, scaled to the size of the business.
"Tax the rich" has become a familiar slogan. Stefan Neuss, founder of WERA Capital Partners, believes business owners and family offices should respond by preparing: by building backup plans in other countries. He calls them "island solutions", and he says now is the time to create them.
What is an island solution?
An island solution is a complete base in a second country, ready to use at any time. According to Neuss, it consists of five elements:
a fully operational company, ideally a limited company, with bank accounts and a websitea residence permit that allows the owner to enter the country as often as neededa local driving licenceideally, a property of one's owna car, to be mobile in the area
With this in place, the owner can take a plane, arrive and start working immediately.
The right setup for the size of the business
Neuss recommends different setups depending on revenue:
Six-figure businesses: at least one island solution in a second jurisdiction. A UK-based owner, for example, would build one base abroad.Seven-figure businesses: at least three island solutions in three jurisdictions, for example Greece, Paraguay and Malaysia.Eight-figure businesses and above: at least one island solution on every continent, for example in the US, in South America (Paraguay, Chile or Uruguay), in Africa and in Asia.
Protection against uncertainty
In Neuss's view, this is the minimum needed today to protect money and possessions. As always, the structures must be set up in line with the laws of every country involved. WERA Capital Partners offers a free 15-minute private conversation to work out the right solution for each business.