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]

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]

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

 

[JohnLocke]

I agree it's a mess⁠ and it will change the offshore company formation world for ever stupi#21

 

[Montecristo]

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]

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]

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.