Here is your first Forum » Requirement: confidentiality protection

Confidentiality is a legal term in corporate law that refers to a level of privacy that companies can enjoy in order to keep certain information and documents secret. In many countries, a list of directors is publicly available. From a tax planning perspective, confidentiality is important. There is a very fine line between protecting and hiding assets, and this issue can be resolved by consulting professional and competent lawyers and accountants.

In many countries it is a legal requirement to declare all worldwide assets including property, vehicles, business assets, cash, stocks etc. and on this basis the tax authority calculates the tax to be paid. This applies to Russia, for example. In Spain, non-residents only have to register property and assets in Spain and are not entitled to a wealth tax exemption. Many countries require individuals to fill out tax returns anyway, and non-compliance can result in financial penalties. Failure to provide an explanation may be due to a lack of knowledge of how the process works.