Cyprus & Malta Named & Shamed in Recent EC Offshore Report

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A recent report by the European Commission have shown that some residents of Cyprus and Malta may be holding approximately half their wealth abroad. In incriminating estimates show that EU taxpayers held offshore assets of at least USD $1.7 trillion back in 2016.

Compared with other jurisdictions in Europe such as:

12% for residents of France.
10% for residents in Germany.
9% for residents of the UK.
The figures for the US and China were about 5% and 15% respectively, not including property, insurance agreements and cash.