Posted April 6th, 2016 at 3:20 pm (UTC-5)
Nevada, Wyoming and South Dakota have all passed laws making it easier to set up shell companies — and harder to identify the real owners. Bankers say that has actually prompted a flow of foreign assets from traditional tax havens such as Zurich and Bermuda to less elegant banking centers like Reno and Sioux Falls.
‘Panama Papers’ Blockbusters Make Waves Abroad, but Secret Money Is a U.S. Problem too
Nevada, Wyoming and South Dakota have all passed laws making it easier to set up shell companies — and harder to identify the real owners. Bankers say that has actually prompted a flow of foreign assets from traditional tax havens such as Zurich and Bermuda to less elegant banking centers like Reno and Sioux Falls.