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Governments around the world desire to track assets for tax collection, particularly from individuals involved in cryptocurrency or those with significant wealth. Terms like "ultimate beneficial owner" signify their efforts to maintain control over your assets. Thus, billionaires have devised these advanced strategies, enabling them to portray themselves as legitimate contributors to society while actually enjoying the benefits of ultra-low taxation.
A crucial tactic to navigate around taxes and prevent government intrusion is to ensure no direct ownership of assets. A Panamanian foundation can own these assets, effectively severing the link to the individual and allowing for greater privacy and freedom from controlled foreign corporation regulations.