This isn’t a new thing. Many countries have tax havens or areas where rich people are told to “base” themselves in order to move wealth.
It is 100% tax avoidance, and it exists because governments/states allow it, and publicise the ability to move funds while not actually “being” in that place.
But the same goes for what we all do with retirement funds/giving money to charity. Saying it isn’t is just pushing semantics to separate what normies do as opposed to the rich.
This isn’t a new thing. Many countries have tax havens or areas where rich people are told to “base” themselves in order to move wealth.
It is 100% tax avoidance, and it exists because governments/states allow it, and publicise the ability to move funds while not actually “being” in that place.
But the same goes for what we all do with retirement funds/giving money to charity. Saying it isn’t is just pushing semantics to separate what normies do as opposed to the rich.