Gerard Depardieu hosts a bash in his Belgium home. The Stones
release their album "Exile on Main St." David Bowie moves
to Switzerland. Dart moves to Cayman. What do all these events have
in common?
Attempts to tax top earners at 83% in the UK during the 70's
coincided with a significant number of wealthy people (whether
famous or not) seeking residence in other parts of the world. Today
the threat of 75% tax on people making over one million Euros in
France seems to be making people move to Belgium.
Cayman has nothing to fear of the recent attempts to increase
transparency. It is clear that the days when people could illegally
reduce their taxes by creating "paper companies"
somewhere else are long gone; we don't want anything to do with
it. But the need to consider ways to legally manage your total tax
exposure is still here for corporations and wealthy people, and
those days are here to stay.
