Canadian Citizenship: The Wealthy Global Family's Safe and Tax-Efficient Alternative
Wealthy global families are becoming increasingly aware of their need for a well thought-out citizenship and residency strategy to protect their wealth and to safeguard their freedom of movement.
In the uncertain world facing us today, prudent families understand the importance of keeping their options open and having multiple passport choices. If your family has a net worth of $50 million or more, you may already have started to investigate which combination of passports and residency is best adapted to your situation.
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Comments & Articles
Jonathan Garbutt Quoted in the Globe & Mail
From the Article:
U.S. wealthy to discover Swiss bank is no haven
Date: August 19, 2009
Jonathan Garbutt Quoted in the Globe & Mail
To kick of the inauguration of Garbutt Tax Law, today I was quoted in the Globe & Mail regarding the ongoing UBS scandal in the US. Efectively, in my opinion, which I have shared with any of my clients that will listen, the era of the secret account is over. This is not just about UBS or US tax residents, green-card holders and citizens. The US will use what they get from UBS to go after other banks because many of the account holders have accounts with other banks. The US will give the US taxpayers they catch the same options they gave the taxpayers that set off the UBS case - "rat on your other) bank, or we will send you to jail for a long time." So the US will get all they need to attack the other Swiss banks, and put them in a position where they also have to roll over on their US clients. The other Swiss banks are all busy firing their US clients, hoping this will spare them from the wrath of the US IRS and Justice Dept. I think the other banks are fooling themselves. Once the US is finished withhem, every other country on earth will follow right through the hole that the US has made in the wall of bank secrecy. That is what I mean by "pulling on a string".
Anyway, you can't ask for a better way to kick off a new enterprise! Even if the quotes were more showy than I intended, I am still glad to have been asked to pontificate on something I perhaps know more about than anyone at an independent law firm in Canada. Being independent has its advantages - I can actually speak my mind at last. I had a two hour phone interview with the author, and the only thing Greg quoted me on was the "highlight reel" of my verbal stylings. Serves me right for telling the truth...