Invested: America: the new tax haven

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

21st February, 2016
The US: a tax haven or a good business opportunity? Picture: Getty

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...

Subscribe from just €1 for the first month!

Currency

What's Included

With any subscription you will have access to

  • 971569B3-2C5E-4C45-B798-CEADE16987A8

    Unlimited multi-device access to our iPad, iPhone and Android Apps

  • 099C8662-C57C-42F2-9426-F2F90DF17C8F

    Unlimited access to our eReader library

  • 198AE43B-B9CF-4892-8769-D63C2104BA08

    Exclusive daily insight and opinion seven days a week

  • D8F37B78-25E4-4E4A-A376-4F5789B1564A

    Create alerts to never miss a subject that matters to you

  • B15F2521-37CD-4E02-B898-730A20D39F7F

    Get access to exclusive offers for subscribers on gifts and experiences

  • A564FE02-1AB8-4579-AF9D-BA32A2E5ACA7

    Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine

Share this post

Related Stories

Content is king – just ask Netflix as rivals attempt to steal its crown

Tom Maguire: Tax changes we make now could help business for years