Invested: America: the new tax haven

Invested: America: the new tax haven
The US: a tax haven or a good business opportunity? Picture: Getty

To many observers’ surprise, the US is now viewed as a leading tax haven for wealthy foreigners, earning itself the sobriquet of ‘the new Switzerland’. Jesse Drucker reports

Last September, at a law firm overlooking San Francisco Bay, Andrew Penney, a managing director at Rothschild & Co, gave a talk on how the world’s wealthy elite can avoid paying taxes.

His message was clear: you can help your clients move their fortunes to the United States, free of taxes and hidden from their governments.

After years of lambasting other countries for helping rich Americans hide their money offshore, the US is emerging...

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