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What do you mean when you say that their cash is overseas? I assume Apple does not have stacks of green bills in giant vaults overseas. Is it in foreign banks?
by HenryKissinger 6y ago
What do you mean when you say that their cash is overseas? I assume Apple does not have stacks of green bills in giant vaults overseas. Is it in foreign banks?
- i_am_proteus 6y agoIt's in bank accounts in Ireland.
- ska 6y agoPaying taxes in a country doesn't mean the realized income stays in that country.
- vishnugupta 6y agoIndeed, some of it is in banks in tax havens such as Ireland and Singapore. They are also in the form of US treasury bills bought through their offshore entities in the same havens. So I guess at least some money does make it back to the US ;-)
- nwellnhof 6y agoThe cash (or other short-term investments) could even be held in US bank accounts owned by non-US subsidiaries of Apple.
- vishnugupta 6y agoFor sure! With this offshore thingy one could create a mind bending structure to trap tax authorities in an infinite loop trying to trace the origin. I was completely ignorant about this menace until I started reading couple of books to educate myself —- Treasure Islands and Moneyland...recommend them both. Since then I just use the term offshore to encompass any of those hundreds or so possible structures.
- mmm_grayons 6y agoApple runs what may be the world's largest hedge fund, Braeburn Capital [0], that it uses to invest its cash reserves. But yes, I'm sure a fair amount of it is in foreign bank accounts. https://en.wikipedia.org/wiki/Braeburn_Capital https://en.wikipedia.org/wiki/Braeburn_Capital
- markvdb 6y agoA lot of Apple's non-US profits were/are in Bermuda. See https://en.wikipedia.org/wiki/Double_Irish_arrangement https://en.wikipedia.org/wiki/Double_Irish_arrangement .