I think if an entity was created for the sole purpose of evading U.S. securities law that they would absolutely be out to get you.

So the question can better be framed as, how do you not violate U.S. securities law but create a structure that U.S. persons or businesses could participate in?

Most of the securities laws are designed to protect investors from fraudulent investments, not the other way around.

As a U.S. person, I can buy shares of a foreign corporation, for example.  Provided I do not evade taxes, and I make an FBAR filing to FinCEN and the form 8938 to IRS, this is perfectly legal (except with respect to entities that are subject to U.S. economic sanctions, of course).

This is a tricky legal area and you should really seek expert advice of competent legal counsel before attempting something that could expose people to civil and potentially even criminal liability.

Best regards,
Ben