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I presume they want the readers to draw the inference that if someone is going to the effort of creating multiple layers of trusts and corporations in different
by mjw1007 9y ago
I presume they want the readers to draw the inference that if someone is going to the effort of creating multiple layers of trusts and corporations in different secrecy jurisdictions then something illegitimate is going on.
To be honest, I think that's quite a reasonable inference.
- rayiner 9y agoIt's not reasonable to count on readers to draw that inference because it depends on the readers' ignorance about the legitimate reasons for such accounts. A lot of it is just for asset protection--from creditors, lawsuits, disgruntled family members, etc. You may argue that having assets offshore so they can't be reached in say a civil suit is also "something illegitimate." But I strongly suspect you'd organize your startup as an LLC or corporation, for precisely the same reason.