Comment by dfajgljsldkjag
7 hours ago
The example about the founder losing a hundred million dollars to taxes is painful to read. It makes sense why Cayman is becoming the standard now that big investors are accepting it. The old default of opening a Delaware C Corp seems like a huge trap for Latin American companies.
How could the founder manage to live his life with merely tens of millions of dollars. What a tragedy.
Did you miss the part where they paid millions to a jurisdiction where they didn’t actually conduct business? Or are you of the wealth envy “taxes as punishment” mindset that believes every dollar eared is one immorally coerced from others - because thats how your comment reads. Personally, I’d rather see that money redeployed either as local taxes or even just capital to be spent in the founders own jurisdiction.
> Did you miss the part where they paid millions to a jurisdiction where they didn’t actually conduct business?
You mean besides opening a company in said jurisdiction? They took advantage of said jurisdiction by incorporating there and then had to pay taxes for it. Seems pretty straight forward.