Multi Currency Trusts

[BritishSecret]

I've learnt recently that many wealthy people have their tax structure something along the lines of

— A Multi Currency Trust (Usually in the Cayman Islands, Cook Islands, Or Singapore)
then holds/owns
— A Holding LLC (Usually in Nevis, Belize, Panama)
then holds/owns
— An Regional LLC (Usually connected to the region you do business in e.g. Wyoming & Delaware for US, Jersey & Guernsey for UK, Luxembourg for EU)
the holds/owns
— An LLC which actually does the business on paper and is registered in the Country/State you're doing business in (e.g. has the actual assets in the country such as the real estate, machines, and cars etc registered to it)

As always, please tell me what is wrong about my hypothetical tax structure here and how you would improve it (feel free to copy and paste and make your own bullet point version)
And any ideas if a foundation in panama or likewise tax haven could be used?

 

[polonieth]

What is the purpose of all these posts? Are you trying to become a service provider or sort your own situation out?

 

[BritishSecret]

What is the purpose of all these posts? Are you trying to become a service provider or sort your own situation out?

Literally just trying to understand the world of tax structures and tax avoidance more that's all

 

[Onassis]

You are spamming the forum and there is also no such thing as a multi currency trust

 

[BritishSecret]

You are spamming the forum and there is also no such thing as a multi currency trust

So there is no such thing as a trust that can access multiple currency bank accounts?

 

[Sols]

So there is no such thing as a trust that can access multiple currency bank accounts?

I think it's just a fundamentally strange question, which makes it hard to respond to. A trust is what you decide it is. If you want your trust to hold assets in multiple currencies, you just do that either explicitly in the trust deed or not.

 

[BritishSecret]

I think it's just a fundamentally strange question, which makes it hard to respond to. A trust is what you decide it is. If you want your trust to hold assets in multiple currencies, you just do that either explicitly in the trust deed or not.

So then yes, great, I can create a trust that holds multiple currencies! Then why would Onasis say there are not real?

 

[Onassis]

So then yes, great, I can create a trust that holds multiple currencies! Then why would Onasis say there are not real?

I am referring to the terminology. It's like calling a company with a multi-currency bank account a "multi-currency company".

 

[BritishSecret]

I am referring to the terminology. It's like calling a company with a multi-currency bank account a "multi-currency company".

And that's incorrect? How?