Now that we have dealt with that particular bugbear, it is necessary to run the rule over the needless bad press that Tax Havens around the world have continuously received for ages. Tax Havens have been demonized by typecasting them as destinations that prefer tax evaders more than tax avoiders. However, Tax Havens deserve their proverbial spotlight as the much needed enablers in the global realignment of capital chasing opportunities.
Family Offices globally need to be more in sync with the use of Tax Havens that enable the strategic usage of international tax laws to optimize wealth management and investment strategies. In particular, debt issued by MNCs can effectively utilize Tax Havens as global conduits for efficient movement of capital at competitive rates of return. The judicious usage of Tax Havens by Family Offices is a multi-layered complexity involving the successful coordination of diverse portfolios, cross-border tax obligations and the obvious need for global reporting and compliance formalities.
India has already begun rationalizing its tax system, which has coincided with the much needed discovery of the true spirit of widespread entrepreneurship. To enable an inclusive model of capitalism to evolve, a constructive dialogue with various Tax Havens is the order of the day so as to enable the most efficient and effective canvassing for precious global capital to truly make India the cynosure of all eyes.
Are you ready to ask for better in your quest for the best?