Geoff Cone Dispels The Rumor Of New Zealand Tax Haven Status

New Zealand has been in the news recently and it has some citizen ticked off. A feature on foreign trusts makes New Zealand look like a tax haven. It inspires images of a poorly run country that wealthy people take advantage of. You could easily imagine men in white suits and hats with brief cases, beautiful women and a thriller involving the inheritance of a wealthy foreigner.

But Geoff Cone disagrees. The tax lawyer is quick to point out that New Zealand does not even come close to qualifying as a tax haven for wealthy foreigners. Like most things that deal with tax, Cone says, it is pretty mundane. There is no shadow banking industry in New Zealand and no foreigners stashing cash on the island nation.

Being called a tax haven should disappoint New Zealanders because most tax haven countries are near third world. Countries in the Caribbean, for instance, are used by wealthy individuals from the States in order to hide massive amounts of money from Estate Taxes. Cone continues to describe what qualifies a country as a tax haven.

First, the country needs to have little to no tax itself. This invites the wealthy to stash their cash without much being skimmed off the top. Second, the banking industry in the country needs little to no oversight or regulations. This allows the wealthy to be stealthy with stashing their cash. And lastly, the country needs to have a law that prohibits communications about said banking with foreign governments. This stymies governments looking to investigate the money trail as it seeks to claim its share of tax.

Instead, Cone says, New Zealand is the opposite of a tax haven. New Zealand maintains scores of agreements with other countries that allows for free and open communications between governments. The banking regulations in New Zealand are strict, tough and fair. There is incredible transparency that does not allow for shadow banking. And lastly, New Zealand imposes stiff taxes compared to other countries.

But the stiff taxes do not scare foreigners from setting up trusts in the country. The stable banking environment and economy make it ideal for the wealthy because it ensures their trust will be safe. And that is why the number of foreign trusts is rising.

Geoff Cone knows his stuff. He runs the only New Zealand law firm that specializes in trusts and tax. He’s spent his whole life studying, setting up and executing trusts in New Zealand, save for a two-year stint in the British West Indies as a litigator.

Graduating from the University of Otago and practicing in Auckland, Geoff is a lifelong guardian of New Zealand tax and trust law. It’s safe to trust him when he says that New Zealand is not a tax haven.

Do You Have Questions About Mutual Funds?

Mutual funds remain a viable way to earn good returns on an investment. Depending upon the current market conditions, a mutual fund may return an exceptional interest rate. 8% would be fantastic. Anything more than that would be amazing. Of course, high annual interest rates may come with risk. An investor might be better off with a lower-paying mutual fund that comes with less risk.

Not every is sure about what type of mutual funds would be best for them, which is why working with an investment advisor can be a good idea. The advisor is not going to pick a specific stock or handle a transaction. Brokers would handle work of that nature. Instead, an investment advisor may discuss mutual funds in general and mention pros and cons.

For example, precious metals mutual funds may do very strong in a particular year and then lose money the next. These type of funds may be a worthwhile investment for 30 years or so when the high yields average out with the low one to – possibly – deliver a better than average overall return.

A retiree probably would want to avoid such an investment at all costs. A younger person with decades to save may find putting a relatively small amount of capital into such an investment to be a good plan.

Making an informed decision about mutual funds all starts with becoming informed. Having a meeting with someone who knows about these and other things might be a very worthwhile time investment. Meeting with an experienced investment advisor is a must though.

Richard Blair is an example of an advisor with significant experience. Blair founded the Austin, TX company Wealth Solutions as a means of helping others deal with matters related to funds, investments, annuities, real estate, taxes, and more. Blair holds certifications in these areas and disciplines. Someone with Blair’s experience could be very helpful to those with queries and questions.

Those new to mutual funds and other investment vehicles may very well have a number of questions. Having questions and seeking answers is fine. Doing so avoids the issue of making ill-advised decisions and, instead, makes sure money is better invested.

 

 

Madison Street Capital Continues to Provide Clients Great Financial Services

Since its founding in 2005, Madison Street Capital has provided numerous financial services to middle market companies and private clients. Madison Street Capital’s relentless efforts to provide customers with the best advice and assistance about mergers and acquisitions has earned the company much notoriety in the industry.

Recently, the middle market investment banking firm was named by M&A Advisor as a finalist for the 15th Annual M&A Advisor Awards. The M&A Advisor Awards can catapult an up and coming investment banking firm to higher level in the financial industry. The award is only given to leading firms and professionals.

Madison Street Capital played a major role in Dowco’s acquisition of Acuna & Asociados S.A. Their assistance in the acquisition did not go unrecognized. The firm was nominated for Boutique Investment Banking Firm of the Year. A nomination Founder and CEO of Madison Street Capital, Charles Botchway, says is a true honor. Botcway takes the nomination as a positive sign that the firm is on the right track after all its hard work.

Before Botchway became the founder and Ceo of Madison Street Capital he served as Vice Chairman and co-CEO of Houlihan Smith & Company. While there Botchway was responsible for creating and executing the firm’s international expansion strategy. Botchway attributes much of his success as CEO of Madison Street Capital to the team around him. He is very grateful for the team’s hard work and dedication to the company he founded. In fact, for the firm’s 5th anniversary Botchway gave each of his original employees a gift.

About Madison Street Capital

Madison Street Capital is an investment banking firm that provides clients unique financial options and recommendations that help them succeed in the financial industry. Their services are available to both private and public businesses. The firm’s business strategy is one where they take on the the challenges of the client, make the challenges their own, and then overcome them.

Madison Street capital pays a lot of attention to emerging markets, something the firms sees as a core component in clients being able to grow globally. Madison Street Capital has firmly cemented its position as one of the foremost international providers of financial services to middle market companies. The firm has active offices in three continents that include: North America, Africa, and Asia.

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