+

Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Close
HomeQuizzoneWhatsappShare Flash Reads
 

These are the beautiful and obscure locations that millionaires use to keep their money offshore

Oct 31, 2016, 21:28 IST

Flickr/David Cobbin

Earlier this year, a huge dump of files known as the Panama Papers revealed the dealings of Panama-based law firm Mossack Fonseca and brought low-tax countries into the spotlight.

Advertisement

Mossack Fonesca set up companies in low-tax countries such as the British Virgin Islands, Panama, and the Bahamas. Many of its clients used Mossack Fonesca's services in order to make their companies more tax-efficient.

While Mossack Fonesca mainly set up companies in a small handful of countries, there are plenty more nations around the world which wealthy individuals and companies use in order to reduce their tax bill.

As well as having low tax, many of these countries are located in obscure and often idyllic locations. Here are some of them.

You are subscribed to notifications!
Looks like you've blocked notifications!
Next Article