I was talking to someone of\u00a0considerable\u00a0expertise on tax haven \/\u00a0secrecy jurisdiction issues about Jersey and\u00a0Guernsey\u00a0foundations. He pointed out the real reason for them, and I quote:<\/p>\n
I read your piece about foundations. A point you might consider - the main reason for the foundation law was to avoid fiduciary responsibility. A number of court decisions in Jersey held trustees responsible for the activities of the corporations they controlled. Obviously this increased trustee risk to avery high level. When a foundation is involved the new foundation law absolves the agents creating and managing them from responsibility.<\/p><\/blockquote>\n
Now it makes\u00a0sense!<\/p>\n
Foundations are about screwing the client as well as the rest of the world.<\/p>\n
It's obvious when seen that way.<\/p>\n
But then I admit, I'm always amazed that anyone trusts\u00a0offshore\u00a0practitioners. When their whole business model is based on deception of various sorts, why would you trust them? I know I wouldn't. It would\u00a0irrational\u00a0to do so, and for once I think rationality has a real roll to play.<\/p>\n","protected":false},"excerpt":{"rendered":"
I was talking to someone of\u00a0considerable\u00a0expertise on tax haven \/\u00a0secrecy jurisdiction issues about Jersey and\u00a0Guernsey\u00a0foundations. He pointed out the real reason for them, and I
Read the full article…<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,7],"tags":[],"class_list":["post-9902","post","type-post","status-publish","format-standard","hentry","category-guernsey","category-jersey"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/9902","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=9902"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/9902\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=9902"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=9902"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=9902"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}