M city 5 condos for sale. The most expensive mansion veil in Canada! Luxury houses have always been standard for the rich, and tax avoidance and asset transfer are the biggest topics for rich people to study. The exposure of a Pandora document shocked the world.Please Visit: M city 5 condos for sale to Get Your VVIP Registration Today!
Canada, a country with the highest proportion of Chinese in the world, not only has a sound property protection system, but also has enough expensive houses, but in this small country, there is not only enough beautiful scenery, but also a wonderful dark story.
According to the Pandora documents, a group called Transparency International once issued a report on Canada: nearly 46 of the top 100 luxury homes in Vancouver, Canada, are owned by the Canadian government, 29 of which are simply owned by offshore companies or offshore trusts, while the rest are owned by Canadian companies, Canadian trusts or agents. Under the property protection system, the act of hiding assets through real estate in Canada is very rampant. Transparency International, on the other hand, called on Canada to increase the transparency of real estate transactions and require the identity of the actual owner to be declared.
The incident has become increasingly controversial in Canadian society, clearly targeting ethnic Chinese, and the then attorney general of BC province simply said publicly that a large amount of money from Asia was being washed through real estate deals in Vancouver. In 2018 alone, C $7.4 billion of gray money was in circulation in BC province, of which about C $5 billion was laundered through real estate transactions. Real estate transactions caused by money laundering also led to a 5% rise in house prices, which increased several times in 2020. As the local media continued to report that Chinese speculated on housing prices and bought luxury homes in Vancouver, finally, the provincial government of BC, where Vancouver is located, passed a bill that from November 30, 2020, real estate owners in BC province must register, provide information about their interest owners, and must register the information of all owners, if the real owner information has not been registered by April 30, 2021. Individuals will be fined up to C $25000 and companies will be fined up to C $50,000. Individuals and companies will be fined up to 15% of house prices for violations such as simply refusing boarding information or being flouted by the bill.
Based on the threshold of C $20 million for a Vancouver “Baigui” mansion, the maximum fine can be up to C $3 million, or more than 15 million yuan. There should be counseling under heavy penalties, but the BC provincial government was surprised to find that half of all houses that could not find the actual owners would rather accept the punishment than resolutely withhold information about the real owners. In 2019, before the outbreak, nearly half of the top luxury homes sold in Vancouver, Canada, came from China, according to National Bank.
There is a mistake in the Pandora document that a Chinese surnamed D owns two separate houses in Vancouver, each worth more than C $20 million. Both houses are owned by their immediate family members. The children of another C-letter corrupt official also own tens of millions of luxury homes in Vancouver, and his third-generation family tried to enter Canadian politics, but eventually died down as his identity was revealed.
Other cases include the mother of famous singer Q being investigated for embezzlement of 350 million yuan, and most of the assets involved are believed to have flowed into Vancouver for her daughter’s consumption in Canada. Although there are no public reports on where singer Q bought a house and in whose name, it is unlikely to be “hard to make a living”.