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offshore trust Tag

UK’s Richest People Conceal Billions in Offshore Tax Havens

It was reported yesterday by the Guardian news service located in the United Kingdom that "more than 100 of Britain's richest people have been caught hiding billions of pounds in secretive offshore havens, sparking an unprecedented global tax evasion investigation." The Guardian article included Chancellor George Osborne's warning to alleged tax evaders, and their accountants and advisers: "The message is simple: if you evade tax, we're coming after you." This is yet another example of a government cracking down on foreign ownership and investment.  Anyone moving assets to foreign locations must do so with great care to ensure laws are followed and taxes are fully...

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So you have an offshore trust—now what?

At Grant Morris Dodds, we are certainly not experts on the banking system; nevertheless, here are my thoughts on offshore banking, investment, and currency exposure. The US dollar is, as we know, the reserve currency of the world–for now. So it is probably in the best interest of most people in the world, except those who are hoping for economic collapse and anarchy, that the dollar remain viable and continue to be the reserve currency. Certainly our enemies, China, Russia, and certain Mid-East countries would welcome a dollar collapse, regardless of the impact on their citizens because it would give them an opportunity...

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