Unknown Tax Havens | Finance Documentary

Unknown Tax Havens - Exposing the secret world of unknown tax havens, a global network of tax-free storage facilities with art and goods for the super-rich - unknown, until now. Freeports at highest security levels. This investigates who's using them, and why.
Unknown Tax Havens (2021)
Director: Martin Gronemeyer
Writers: Martin Gronemeyer, Michaela Kirst
Stars: Nina West, Martin Schubach, Thomas Holländer
Genre: Documentary, Crime
Country: Germany
Language: English
Also Known As: Freeports: The Beauty of Tax Free Storage
Release Date: November 2, 2021 (Germany)
Synopsis:
From Singapore to Luxembourg via Switzerland, a very discreet service is now booming: the storage of precious goods (works of art, luxury cars, vintage wines) in secure warehouses called free ports, originally considered as temporary transit zones. This system, which is extremely advantageous for owners who remain anonymous if they wish and are exempt from customs duties and VAT, encourages tax evasion and parallel trade. For these goods can be resold within the warehouses themselves in transactions that are not always transparent. Museum officials deplore, for example, that these secret storages allow certain key works to be stolen from public view for a long time.
Reviews:
"This is a fascinating documentary about freeports - secure warehouses where the ultra rich hide their physical assets to avoid taxation. In the movie TENET, there is a sequence involving Freeports, but this film explains the reality behind what was shown there.
I had no idea that many of the world's greatest paintings have been hidden away in these warehouses, never to be seen again. It is common for art purchased at auctions to be transported directly to these facilities, with their true ownership concealed by a series of shell companies. The facilities have a "no questions asked" policy, which enables dictators and criminals to hide their wealth in freeports.
The documentary explains that recent changes in the law meant that bank deposits could no longer be kept secret. This caused a growth in the popularity in freeports, as fine art became a substitute for money and banks as a storage of wealth.
This film is definitely worth seeking out, and hopefully will secure wider distribution."
- written by "bobdecarli" on IMDb.com
Also Known As (AKA):
(original title) Schätze unter Verschluss: Das System Freeport
France Trésors sous clé - Le système des ports francs
Germany Schätze unter Verschluss: Das System Freeport
Norway Ei frihamn for dei rike
Spain Puertos francos: la caja fuerte del arte
United States Freeports: The Beauty of Tax Free Storage
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[@worldview2888]

This documentary is EXCELLENT! Very well produced.

[@Moconomy]

Thank you. :)

[@Jezzaaa3]

Honestly, Chapeau! One of the best docs I have seen in 2024. Very informative and well put together.

[@ishtiaqmirza5725]

It's a really informative documentary. It makes you wonder why Governments don't close or clap the system. It clearly demonstrates That Taxes are for the Poor, not for the rich. It makes me wonder about the double standards of Governments and Lawmakers in our countries.

[@phillipalder9045]

clap? what?

[@EustaquioSantimano]

Very informative documentary !!

[@leszeka7675]

In many countries, owning something for some time and selling a used item is tax-free? If it increases in value, it's good, but it can also lose value? or be completely destroyed? Was the purchase also made for money after paying taxes? and if not, is it the bank's fault for allowing the transfer? Is it the rich people's fault for buying and owning expensive thing?

[@Citizen-of-theworld]

Aside from the obvious risk of laundering proceeds of crime or sanctioned individuals, for more law abiding stakeholders, it seems like there is a philosophical battle between the desire of investors to be able to trade art assets primarily as investment vehicles - where one would hope to incur almost negligible purchase taxes (as is the case for publicly traded stocks), and tax authorities and media who would like art to be treated as an ordinary consumer good (and therefore taxed heavily at purchase with customs and VAT etc). Paying those kinds of purchasing taxes (as well as the obvious tax on capital gains at sale) thoroughly diminishes any investment potential for the market, so it is up to countries to determine, do they want to destroy the art market for investment purposes and insist that art should only be used for adornment and appreciation by owners. It is quite a political problem and opinion will differ highly depending on one’s interest in the market itself.

[@Citizen-of-theworld]

Of course for those individuals in such scope of sanctions and criminal activities, one would wonder why they would even bother considering Europe at all as a place to store these assets when so much regulation exists, while the Middle East and Asia has a much more opaque attitude to this kind of activity.

[@mytralala6474]

Really? The Swiss are judging others for hiding art?

[@Haris_Sikandar]

This documentary proves that decentralisation is absolutely needed in todays societies, just because one part of region don’t agree with another let’s do that and this lol

[@baibamennika4480]

Maybe they even keep money there , old gold coins et. How they can check what is in secure packed box coming in? Warehouse check for safety but not moral or quality questions I guess?)

[@trusailietazperlinski4717]

Yeeess, sir! That is what I meant back in 2013-2014... I needed to know for the future as a productive protected artist. United States of America

[@zackeryzackery9381]

Why doesn't John Christianson start a business and create value and pay taxes instead of chasing other people's wealth?

[@Lucky-pi1fo]

Sometime its easier but at this level it is mostly because they just like to do it.

[@davidmichael9034]

Wow, what a dumb and ignorant response

[@zackeryzackery9381]

@@davidmichael9034 What's the dumb part?

[@user-ci9ib4gv6y]

​@@zackeryzackery9381someone needs to shed light on criminal or unethical dealings ... Though wealth can be created by legal and illegal means ...

[@Bambotb]

Exactly its always useless eaters entitled

[@shirleygriffin7672]

Excellent reposting

[@abihebb6720]

I would be very concerned that these freeports are being used to store items that are more sinister than simple artwork and money.

[@hakshustletv]

All I see is a bunch of nosey people. If people earn their money they shouldn't have to hide their things in the first place with these ridiculous taxes. I don't blame the rich one bit for exploiting loopholes.

[@littlebopeep3377]

You are correct! Government leaders are corrupt to the core and waste tens of billions by sending (laundering) money to other countries, yet do not take care of their own citizens. Then you have these clowns chasing down people who legally avoid taxes. There is a big difference between tax evasion and tax avoidance, but these minions seem to have nothing else better to do with their lives.

[@sandworm9528]

You're wrong. The minute we bailed out the bank your argument lost all value

[@hakshustletv]

@@sandworm9528 What happened before then? Huge taxes. So they gave them back their own money basically... I'm not saying you're wrong, I'm saying you can look at things from different perspectives. Also my comment was about individuals not corporations.

[@sandworm9528]

@@hakshustletv if you think corporations don't use tax havens, I have news for you

[@hakshustletv]

@@sandworm9528 I never said that... I said my comment was directed at individuals. I don't believe corporations that have control and influence over other peoples lives such as employees should have complete discretion. The moment you start a business that involves the public, there should be some transparency and openness so idk why you'd think I think corporations don't have shell companies when there are legitimate ways corporations can legitimately have shell companies or use tax havens lol

[@bigbarry8343]

Very interesting, however as far as art goes, is it not recognised that modern art serves just as a vehicle for money laundering and bribes? It would be interesting to research it from this angle in the context to free ports.

[@b_to_the_b]

It’s crazy how open they are with their tax evasion

[@caleb9231]

Taxation is theft so Im happy for them.

[@Continentalmunkey88]

12:13 chewy as an early warning system is a bad logistics idea, bar stools may be saner

[@lettucesalad3560]

Of course people involved and profiting will say nothing is wrong with this.

[@Continentalmunkey88]

38:04 Appropriate attitude because every three hours infants cry, ideally media devolves into entertainment for new parents but at the same time boomerang potential as countries reduce, so Russia healthy for Europe

[@helderfonseca3856]

in the land of the Rotschilds anything goes for the super rich

[@hockeyiscanada]

And governments know and let it happen !!

[@baibamennika4480]

Why are you interested in Russian oligarchy only! Tax evasion is Tax evasion, please tell about others too. That would make your study more credible and comprehensible

[@Fj8282haha]

Great content but no voice over so not watching 😢😢😢

[@P.U.R.N.E.L.L]

Read

[@uleidswaleh5002]

One ❤ from Kenya

[@Moconomy]

❤️🎬

[@Continentalmunkey88]

The number 3

[@davidanalyst671]

why does it sound like Tywin's son, Jaime lannister is the narrator?

[@angelachanellehuang5663]

The government doesn't need the money

[@reign6409]

Not unknown anymore.😂

[@hakshustletv]

I was never unknown, people just don't care and they shouldn't as it isn't anyones business.

[@adiposerex5150]

I'll never be rich. The art is ucking fugly.

[@nvbnvb2240]

The need for tax heavens hes never been bigger.You cant justify taxes anymore when the goal is no longer to run a sustainable responsible fiscal policy but printing to pay of last years debt.With unrealistic standeart of living on goverment lvl while squeezing the population dry to the point where you need to import labor to mitigate negative effects cuz local s cant afford children anymore (aca the real cost of infinite printing)its not the house that rises in price but the currency losing its value.Debt is a tax on tommorows generation and so is delution of the mony supply true printing.Put the value back in the currency , run responsible budgets and then we can have a conversation about paying tax.....

[@ReadWell572]

humans and the odd desires for non-living things to give importance to their existence.

[@standodge7687]

this was lame

[@Moconomy]

Why?

[@nonameanon9368]

Too many voice overs make this documentary annoying :(

[@jameswalker366]

1st world problems. The documentary is great.