> There aren't very many innocent reasons to have accounts in tax havens. Courts disagree. The primary form of investment firms (PE firms) rely on an "onshore

> There aren't very many innocent reasons to have accounts in tax havens. Courts disagree. The primary form of investment firms (PE firms) rely on an "onshore" feeder, for certain countries taxable persons to invest into, and an "offshore" feeder for everyone else as well as those same countries non-taxable persons (charities, retirement plans) to invest into. The offshore feeder typically being an offshore corporation taxed only at the entity level, in a place that does not levy tax on the kinds of transactions conducted, and in many cases also means banking and brokerage accounts offshore. But it also means banking and brokerage accounts onshore under the name of the offshore entity, because it is completely legal and the relevant financial professionals are completely familiar with it. Status in our society is based on understanding whose opinion matters, and that is the executive and judicial branch, while the legislative branch and head of states pretends to act like they are in an adversarial relationship with people that keep their money.