Comments on: Jersey is planning to introduce Foundations - just like Liechtenstein!

By: Tax Research LLP

Tax Research LLP — Fri, 18 Apr 2008 08:25:49 +0000

Andy F

I’ve corrected that today

Richard

By: Andy F

Andy F — Thu, 17 Apr 2008 17:31:12 +0000

I could not see a mention of Delaware LLP/LLC’s anywhere. They are used more often than BVI’s.

By: MikeinAppalachia

MikeinAppalachia — Thu, 06 Mar 2008 21:48:38 +0000

Foundations of various types can be established in the UK, USA, and many other tax jurisdictions. Foundations engaged in business of any type pay taxes on earnings much as any corporation does. Many foundations or trusts are established as charitable non-profits. the only “tax-avoidance” inherent is a foundation would be (maybe) some form of estate tax taht would have been collected from the founder(s) upon their death. foundations, much as trusts, basicly serve to provide an asset base from which to continue an activity with conditions set by the founder(s), i.e., to prevent unfriendly takeovers by an entity that might change the nature of the business. What’s Richard’s problem with foundations?

By: Fred Fry

Fred Fry — Thu, 06 Mar 2008 19:27:27 +0000

What is the benefit to the UK (the Queen) of the amount of abandoned property that is forfeited to the State each year? All these complicated corporate structures are sure to leave unclaimed assets all over the place.

By: roger rabbit

roger rabbit — Thu, 06 Mar 2008 17:33:31 +0000

They are I suppose offering a Foundation essentially to offer to people from jurisdictions (Europe and Asia) whose law does not have and whose people therefore don’t understand trusts, so they are diversifying!

Pretty soon the whole smorgasbord of kit for hiding money will be available in Jersey!

By: Fred Fry

Fred Fry — Thu, 06 Mar 2008 17:01:11 +0000

Yes, but can you legally Register a private foundation in the UK? Just being devil’s advocate, especially if other jurisdictions are offering something they cannot obtain at home.

By: The Use of Foundations

The Use of Foundations — Thu, 06 Mar 2008 15:19:14 +0000

[...] Richard Murphy: [...]

By: Mark

Mark — Thu, 06 Mar 2008 15:01:48 +0000

Ironically, it seems it will be a non fiscal issue that causes the demise of the Chief minister…

By: Mark

Mark — Thu, 06 Mar 2008 14:54:58 +0000

Well, they walking slap bang into the EU Savings tax amendment which will certainly cover these types of entities.

Comically, Foundations will probably be included in the savings tax directive before Jersey finailises its own legislation. Nice to see tax havens wasting their time, effort and resources for a change.