Mossack Fonseca, what were the techniques by them?

[Montecristo]

Since all the experts are here in this forum, let me kick start an interesting topic. Mossack Fonseca - What are the techniques or structures they used to help their clients to:

1. minimise tax, especially for the US citizens?;
2. hide their assets?;

 

[negon]

minimise tax, especially for the US citizens?;

No not only there, they did that through the large banks for instant in Europe that were located in high tax presure countries. At the time they did it was in a gray area or even ilegal but they could hide their a*s behind the major banks that actually helped the end client and were sitting in front with the client. I doubt Mossack Fonseca ever has seen all the thousand of clients they had in their database.

 

[Montecristo]

No not only there, they did that through the large banks for instant in Europe that were located in high tax presure countries. At the time they did it was in a gray area or even ilegal but they could hide their a*s behind the major banks that actually helped the end client and were sitting in front with the client. I doubt Mossack Fonseca ever has seen all the thousand of clients they had in their database.

Who would ever expect all their documents be out in the public domain? It is massive. Imagine 11m of documents all went to ICIJ. Just that it is a good lesson for everyone of us.

 

[JohnLocke]

Who would ever expect all their documents be out in the public domain? It is massive. Imagine 11m of documents all went to ICIJ. Just that it is a good lesson for everyone of us.

I agree it's a mess and it will change the offshore company formation world for ever

 

[Montecristo]

I agree it's a mess and it will change the offshore company formation world for ever

Personally, I think this will take the offshore service providers to a next level. Rather than solely depending on IBC, the corporate service providers should look at Trust and Foundation to give additional protection to customers.

 

[Cyrus05]

I had no idea about this Mossack Fonseca until I made a quick google search about it or them. After knowing their basic background, I think their people would be their most important assets. Since it is their own lawyers who implement these techniques and it might be those people who makes their clients success.

 

[Montecristo]

I had no idea about this Mossack Fonseca until I made a quick google search about it or them. After knowing their basic background, I think their people would be their most important assets. Since it is their own lawyers who implement these techniques and it might be those people who makes their clients success.

Good to learn and further improvise it. Recently, I studied them and I have to say that their methods are really good. Even US citizens can use.

 

[Cyrus05]

Good to learn and further improvise it. Recently, I studied them and I have to say that their methods are really good. Even US citizens can use.

That is really good to hear. I believe that their lawyers are top notch and will definitely prove their worth by making their clients case a success.