We talked to Mark Abraham of Offshore Protection about its customized tailor-made offshore legal strategies for residences, businesses and finances.
First of all, how are you and your family doing in these COVID-19 times?
Mark Abraham: Everyone is fine. The company lives all around the world, and so has the benefit of being able to work from home without too much disruption.
Tell us about you, your career, how you joined Offshore Protection.
Mark Abraham: I have been living in Asia for the last decade and always working remotely. I was a public policy graduate involved in international affairs, fell in love with Asia after traveling just as I came out of college. I spent the better part of a decade following my nose and ultimately joining Offshore Protection as Marketing Manager, as it was a good fit for me, allowing me to stay in Asia and continue to be involved in global issues.
I came on board to re-establish the company’s online presence, re-brand, and change the direction the company was headed. We are looking to lead the market in providing global services for businesses and individuals looking to take advantage of local laws in a global environment. The increase of the digital space has allowed businesses to become much more fluid, no longer being bound by a physical location, the need to have a storefront has decreased, and with it a dramatic increase in online business and consumer spending. This changing digital landscape of the modern working environment is creating many new areas that will ultimately be non-local. Nonlocality allows people the ability to work and live (after the pandemic) where they want. Individuals will more likely seek out a place and a space that best reflects what they are looking for, both personally and professionally.
How does Offshore Protection innovate?
Mark Abraham: Uncertainty often brings new opportunities, and people are now looking overseas for transnational solutions. Though people may be in lockdown, there is an exponential increase in the number of people looking for second residencies, second passports, and digital business solutions. Finding a viable backup plan, I think, is in front of everyone’s mind. More people than ever are finding alternative ways to live and work, and we are trying to be there to help individuals find that alternative. Whether that’s an overseas corporate entity for their online business or a second passport, finding global solutions to local problems.
How the coronavirus pandemic affects your business, and how are you coping?
Mark Abraham: The coronavirus has actually led to an increase in the number of leads coming in. Currently, the increase in instability in the economy and market has made people much more likely to search for asset protection and diversification in foreign markets. We have seen an uptick in the number of people looking to secure their finances by forming offshore corporations and trusts to secure their wealth and assets due to the unpredictability that the world seems to be going through.
Similarly, more people are looking to find second homes, second accounts, passports, and anything that acts as a plan B. As movement becomes restricted in certain countries, people want alternatives where they can live and move about without feeling at risk or restricted by the current crises.
Did you have to make difficult choices, and what are the lessons learned?
Mark Abraham: Complacency is perhaps the easiest mistake to make in any business. Without continually innovating and moving with the change, we often get left behind. We have struggled to try to find the most appropriate way to market our services to those looking to find overseas solutions. Being stuck in business practices, a decade-old led us down a path that just no longer works. People are more careful about where they spend their money, and when they do spend, it means something. It’s a reflection of self. Whatever service or product that is sold is now more than ever, a reflection of who they are and what they stand for. If you cannot market yourself or your company in a way that reflects those needs, you go out of business. Some
How do you deal with stress and anxiety?
Mark Abraham: Switch off. Tune out. Meditate.
Who are your competitors? And how do you plan to stay in the game?
We are always trying to remain ahead by offering services and tailoring our packages to meet the ever-changing demand. Lately, there has been an increase in people looking for alternative places to live and work, and we have had to create packages to tailor the increase in demand. The changing landscape of foreign laws and international regulations has made it necessary to continually adjust to the global environment changes. We plan to stay in the game by continually reinventing ourselves by finding new and exciting locations and sectors around the world that promise to bring forth something new.
Your final thoughts?
Mark Abraham: Through tumultuous times often bring disorder, it often makes new space for emerging ideas that have never been.