These are the beautiful and obscure locations that millionaires use to keep their money offshore
Advertisement
Earlier this year, a huge dump of files known as the Panama Papers revealed the dealings of Panama-based law firm Mossack Fonseca and brought low-tax countries into the spotlight.
Advertisement
Mossack Fonesca set up companies in low-tax countries such as the British Virgin Islands, Panama, and the Bahamas. Many of its clients used Mossack Fonesca's services in order to make their companies more tax-efficient.
While Mossack Fonesca mainly set up companies in a small handful of countries, there are plenty more nations around the world which wealthy individuals and companies use in order to reduce their tax bill.
As well as having low tax, many of these countries are located in obscure and often idyllic locations. Here are some of them.
Advertisement
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- One of the world's only 5-star airlines seems to be considering asking business-class passengers to bring their own cutlery
- Experts warn of rising temperatures in Bengaluru as Phase 2 of Lok Sabha elections draws near
- Axis Bank posts net profit of ₹7,129 cr in March quarter
- 7 Best tourist places to visit in Rishikesh in 2024
- From underdog to Bill Gates-sponsored superfood: Have millets finally managed to make a comeback?
- 7 Things to do on your next trip to Rishikesh