3 ms·
Sure, my office and showrooms are in New York, my factory is in Texas but my company is a brass plaque in Grand Cayman - so I'm not paying any taxes!
by kjuhygtfrde 16y ago
Sure, my office and showrooms are in New York, my factory is in Texas but my company is a brass plaque in Grand Cayman - so I'm not paying any taxes!
- jacquesm 16y agoI'll bet you don't have showrooms, a factory or a brass plaque, not even in Grand Cayman :)
- btilly 16y agoFor a while Citibank used to have a dodge where they'd try to get a desk in a NY skyscraper to be declared as part of the Cayman Islands embassy, and therefore Cayman Islands territory, so that the person working from there could more easily run their shell companies without being subject to NY law. My understanding is that this was stopped a number of years ago.
- kjuhygtfrde 16y agoIt's quite common for the trades to take place in an off-shore location. The dealers in NY aren't actually buying or selling shares - they are only making recommendations to brokers in an offshore office. The fact that those recommendations are all automatically acted on in milliseconds by the offshore office just demonstrates how good the advice was!
- btilly 16y agoYes, that was their workaround when the IRS disagreed with them on the legality of the previous dodge.