How to hide your millions the Panama Papers way

(File)
(File)

It seems you have to be from Central or South America to qualify -- especially if you want to set up a foreign trust in New Zealand. Popular jobs seem to be car dealers, businessmen, and even politicians so we recommend you target one of these career choices.

Yes, the law firm needs to be able to find a nice tax haven for you. The most popular ones are the British Virgin Islands and Panama.

The law firm until recently that has been the pick is Mossack Fonseca, but just because everybody is using them doesn't mean you have to. It's not always good investment advice to follow the crowd, especially when that firm has recently been hacked.

Well, hiding money in an overseas trust not to pay tax doesn't sound great -- so if you don't want the neighbours pointing fingers -- don't tell them. And that's the point -- it's supposed to be secret.

However, if the neighbours do ask, you can tell the nosey parkers that you are only doing it to the family fortune from nasty inheritance laws and taxes.

Here's the problem for New Zealanders. You can't hide your money in your own country -- that's not a foreign trust. You will need to find a nice offshore tax haven, perhaps go local to Samoa or Nuie.

And of course there is another hurdle. You need to make much moolah if you want to play 'hide the millions in an offshore trust' game -- and we all know that's not that easy, or we'd all be doing it!

Watch the video.

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