Wealthy Indians are very worried as foreign trustees act harshly
Synopsis
Operating out of tax-free jurisdictions like Jersey, Guernsey and the Isle of Man, the trust service companies threaten to freeze funds and block the distribution of money because the names of these wealthy individuals, whom they manage assets, appeared in the media, newspapers and magazines in connection with a tax or money laundering investigation.
Many wealthy Indians who have cooperated at home due to the pandemic are worried about their money hidden abroad. Neither they nor their lawyers and envoys can fly away to deal with the foreign trustees who suddenly act tough. Operating out of tax-free jurisdictions like Jersey, Guernsey and the Isle of Man, the trust service companies threaten to freeze funds and block the distribution of money because the names of these wealthy individuals,
- FONT SIZE
ABCSmall
ABCWay
ABCBig
Log in to read the full article
You have this Prime Story as a free gift
₹ 399/month
Monthly plan
Invoiced amount ₹ 399
₹ 208/month
(Save 49%)
ANNUAL PLAN
Invoiced amount ₹ 2,499
15 day trial
+Includes membership to DocuBay and TimesPrime.
₹ 150/month
(Save 63%)
2 YEAR PLAN
Amount invoiced ₹ 3,599
15 day trial
+Includes membership to DocuBay and TimesPrime.
Already a member? Login now
Why ?
-
Rich in insight, In-depth stories in over 20 industries
-
Access exclusive Economic Times stories, Editorial and expert advice
-
Own experience with
Minimum ads -
Comment and engage with the ET Prime community -
Exclusive invitations to Virtual events with industry leaders -
A team you can trust Journalists and Analysts which can best filter the signal from noise
