Offshore havens for billionaires under pressure

Photo Credit: Focus

The ability to move funds offshore for various purposes is becoming invalid, with a lot of countries lifting the secrecy laws on financial affairs regardless of whether or not the people involved with the accounts are citizens of the country or not, it is becoming easier for countries to spot the billionaires that have moved millions of dollars out of their residing country.

Whether the attraction to offshore investments is for tax evasion or to try and achieve a sense of privacy regarding your financial affairs, the ability to hide any of your money is soon going to be a thing of the past. With billionaires who have millions of dollars invested in various commodities being put under the spotlight it is becoming easier for partners to start law suites in various countries so that they are able to fight for what they believe is their rightful share of the money.

As advised in the article on Bloomberg if you do not like the laws associated with taxes and your finances, then move to another country.

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