08-04-2016, 03:55 PM
(08-04-2016, 03:29 PM)CityFarmer Wrote: Americans prefer BVI and Cayman, over the Panama? What is your view? I think it is very likely so...
Why few Americans appear in the Panama Papers
08 Apr 2016 10:12
[WASHINGTON] From Russia to China, and Britain to Iceland, the revelations of the "Panama Papers" have tarnished officials and the wealthy over the implication that they hide riches offshore.
But one group is not there: prominent Americans. US tycoons and politicians are notably absent in the leaked files of the Panama law offices of Mossack Fonseca, which created thousands of shell companies worldwide to hide the identities of their ultimate owners, some of whom may have been evading taxes.
There is Hollywood mogul David Geffen, the Asylum Records and Dreamworks SKG co-founder. But there's no Americans comparable to Iceland's prime minister, or henchmen of the Russian premier - all in the Panama records - at least in what has been disclosed so far.
"There are a lot of Americans, but they are more like private citizens," said Marina Walker Guevara, deputy director of the International Consortium of Investigative Journalists which coordinated the investigation and release of the Panama Papers.
However, that hardly means Americans have fully embraced financial transparency, she told AFP.
"It doesn't show that the US is outside of the offshore system; the US is actually a big player." One possible reason for their small presence in the Panama documents is that US citizens hoping to hide funds and activities offshore were not drawn to Spanish-speaking Panama as a haven, when there are options like the British Virgin islands and the Cayman Islands.
"Americans have so many tax havens to choose from," said Nicholas Shaxson, author of "Treasure Islands: Tax Havens and the Men who Stole the World," a 2011 book on secretive centers for hiding money.
...
AFP
Source: Business Times Breaking News
Perhaps it is because they don't need to do it offshore.
They can do it in Nevada, US !
Extract :
It shouldn’t be surprising if nefarious characters or the family members of corrupt politicians are found to have been hiding behind shell corporations crafted in Nevada. It’s what we do.
The secrecy provided under the state’s laws of incorporation is no accident. It’s a revenue source.
For full article see:
http://www.theatlantic.com/national/arch...da/476994/