IMO it’s also ineffective. You can use it to derisk those assets, but in the U.S. there have been cases of a court demanding people hand over non-domestic asse

IMO it’s also ineffective. You can use it to derisk those assets, but in the U.S. there have been cases of a court demanding people hand over non-domestic assets and holding them in contempt until they do. If the U.S. government decides your assets are theirs, I don’t think the location of the account is sufficient protection. You better hope you aren’t on U.S. soil, or any soil that extradites, when they ask you for that account if you plan on telling them “no.”