Economics
The World’s Favorite New Tax Haven Is the United States
Moving money out of the usual offshore secrecy havens and into the U.S. is a brisk new business.
Shifting money from offshore secrecy havens to the U.S. has become a brisk business for Rothschild & Co. One Turkish client is moving assets from the Bahamas to Nevada.
Illustration: Steph DavidsonThis article is for subscribers only.
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.