The world's favorite new tax haven is...

[kentuck]

the USA !

http://www.bloomberg.com/news/articles/2016-01-27/the-world-s-favorite-new-tax-haven-is-the-united-states

<snip>
After years of lambasting other countries for helping rich Americans hide their money offshore, the U.S. is emerging as a leading tax and secrecy haven for rich foreigners. By resisting new global disclosure standards, the U.S. is creating a hot new market, becoming the go-to place to stash foreign wealth. Everyone from London lawyers to Swiss trust companies is getting in on the act, helping the world’s rich move accounts from places like the Bahamas and the British Virgin Islands to Nevada, Wyoming, and South Dakota.

“How ironic—no, how perverse—that the USA, which has been so sanctimonious in its condemnation of Swiss banks, has become the banking secrecy jurisdiction du jour,” wrote Peter A. Cotorceanu, a lawyer at Anaford AG, a Zurich law firm, in a recent legal journal. “That ‘giant sucking sound’ you hear? It is the sound of money rushing to the USA.”

...more

[MADem]

1. Wow--fascinating article.

I wonder if this has to do with some of those real estate bundlers who buy luxury condos that no one really lives in (they rent them out to corporate big wigs/fancy corporations as crash pads, or what-have-you). Basically, they stash their cash in real estate, and the investors own a piece of the pie. The property is managed, the taxes are paid, and none of the investors actually "own" the condo, they just enjoy the "dividends" from the rentals and sales. It's part of the reason why there are so many empty apartments in places where housing is unaffordable. No one is actually living in these homes all the time...they're "investments."

People from Brazil and some other SA nations own half of Miami, and lots of places in FL as well, it seems.

[kentuck]

3. Oh what a tangled weave...

...building excess housing, or over-priced housing that average people cannot afford, simply for the purpose of purchasing with off-shore funds and as an avenue to hide their money.

[hobbit709]

2. Wonder which laws got passed and how to enable this.

And cui bono among the 1% and their minions.

[Ghost Dog]

4. I always thought this was the plan. But I'm a cynic.

Add in the Delaware corporations with no known ultimate beneficiary...