<h1>Understanding Offshore IRAs: Legal Ways to Purchase Property in the Bahamas</h1>
Hey Dad, could you tell me something that seems illegal but isn't?
Absolutely. Each year I use about 50% of my IRA to purchase property in the Bahamas.
I don't think you're allowed to do that.
You can if you have an offshore IRA.
What's the catch? I form an offshore company and that company is owned by my offshore IRA.
How can an IRA own a company? Well, your IRA can hold companies like Amazon and Apple, right? Yeah, an offshore IRA can hold companies too, like the one that I just formed.
We then use that company to open offshore accounts and then we use those offshore accounts to purchase, well, just about anything we want.
That sounds incredibly sketchy.
Oh, it is. I don't recommend you're ever doing anything with your money unless you understand every single aspect of it. Rule one, always.