Why Foreign Trusts Have Increase in New Zealand

Geoffrey Cone is one of the most respected attorneys in New Zealand. Geoffrey has a lot of expertise in trust and tax activities, and this has enabled him to start one of the most successful law firms in the country. Cone went for his education in one of the best universities in New Zealand, and this is one of the reasons he has managed to do so well. The law firm is known as Cone Marshall, and it specializes in foreign trusts. At the moment, Geoffrey Cone is one of the principals of the law firm.

 

The media houses in the country have been addressing the foreign trusts in the country in the recent times. According to the media, these type of trusts have significantly increased in the past years. However, the media makes the whole affair look like a complex activity that is only for the wealthy individuals.

 

Geoffrey Cone has been handling foreign trusts in New Zealand for a while now, and he seems to have the answers everyone is looking for. According to the prominent lawyer is who is currently based in Auckland, people from different parts of the world have a lot of trust in New Zealand trusts, and that is one of the main reasons the foreign trusts have increased significantly in the country.

 

According to Geoffrey Cone, his country is one of the nations that have never been considered to be tax havens. The OECD is an extraordinary body that regulates tax activities in different parts of the globe, and it has a list of the tax havens in the world. However, New Zealand had never featured on the list. According to Geoffrey, tax havens that are listed in the OECD have some similarities. Geoffrey says that these nations do not impose any taxes on their subjects, and whey they do, they charge very little. The countries have also proven that they lack transparency something that discourages foreign trusts. The tax havens are also known for encouraging regulations that hinder the exchange of information between different governments. The banking industry is also very secretive in these countries.

 

New Zealand has earned the trust of many foreigners because unlike the tax havens, it has a lot of transparency, especially in the leadership. Foreign trusts in the country are handled in a special way. Information about tax and trust activities can also be availed to other governments whenever it is needed.