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Would you trust some random island state with your multi billion wealth? Seems risky. Also how do you maintain access to all the relevant markets that you need
by rand846633 3y ago
Would you trust some random island state with your multi billion wealth? Seems risky. Also how do you maintain access to all the relevant markets that you need to multiply your wealth?
- robertlagrant 3y agoThat level of wealth often implies a lot of risk-taking. That's why higher rates of tax are a problem: people won't take the risk, and far fewer new things will be created.
- michaelt 3y ago> Would you trust some random island state with your multi billion wealth? Seems risky. Well, you don't have to actually store your wealth where the island state can get to it. Just because you're resident in the Cayman Islands for tax purposes, doesn't mean you need to hold your wealth as Cayman Islands Dollars, or store it in a Cayman Islands bank. Banks in Switzerland and London are more than happy to look after your money for you, denominated in whatever currency you choose.