Tax Loopholes How Swiss Bank Pictet Attracts German Millionaires

Pictet, a reputable Swiss private bank, uses a letterbox company in Panama and a tax loophole involving investments in London to gain German millionaires as clients. Germany's tax authorities are working hard to shut the loophole down.
The head office of Pictet in Geneva.

The head office of Pictet in Geneva.

Foto: Salvatore Di Nolfi/ picture alliance / dpa
Translated from the German by Ella Ornstein
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