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Panama Papers Reveal New Zealand as Being Pivotal for the World’s Rich

Panama Papers Reveal New Zealand as Being Pivotal for the World’s Rich

Wealthy Latin Americans are using tax free New Zealand shelf companies and trust to channel funds around the world, according to a report based on the leaks of the Panama Papers. Mossack Fonseca ramped up its interest in using New Zealand by actively promoting it as a good place to do business due to its tax free status, high levels of confidentiality and legal security.

“Mossack Fonseca ramped up its interest in using New Zealand by actively promoting it as a good place to do business due to its tax free status, high levels of confidentiality and legal security“

~ Reuters

The New Zealand government said last month it would begin a review of its foreign trust laws after the Panama Papers highlighted vulnerabilities in its legal framework that made it a possible link in international tax avoidance structures because its foreign trusts are not subject to tax.

Related Reports: Reuters, ABC News

 

About Mossak Fonseca

Established in 1977, the Mossack Fonseca Group is a leading global company which provides comprehensive legal and trust services.  With over 500 staff members across every continent, the Mossack Fonseca Group provides excellent services based on more than 35 years of experience. Our service and research-oriented professionals specialize in trust services, wealth management, international business structures, and commercial law, among other areas.

Our product and service portfolio is constantly updated and renewed, enabling the Group to find the appropriate solution for your business. We offer research, advice and services for the following jurisdictions: Belize, The Netherlands, Costa Rica, United Kingdom, Malta, Hong Kong, Cyprus, British Virgin Islands, Bahamas, Panama, British Anguilla, Seychelles, Samoa, Nevada, and Wyoming (USA).

Visit: Mossack Fonseca


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