Quebec, a tax haven for great French fortunes?


The French tax authorities suspect some large national fortunes to have concealed their fortune in Quebec, when their investments in Bermuda became too risky. A Montreal firm would have helped these people to put that money back.

Since France and Bermuda signed an information exchange agreement to better combat tax evasion, it has become riskier to invest in the British archipelago. As a result, many French fortunes would have placed their trusts in Quebec, says VAT News. Montreal-based Blue Bridge is believed to be the source of questionable investments in the Canadian province.

According to the Quebec media, documents prove that some of the investments that Blue Bridge hosts come from tax havens. The French tax authorities would seek more information on the customers of this firm, whose name had appeared during the Panama Papers scandal.

It is a money movement suspicious of nearly a million euros which put the chip in the ear of the fisc, in the name of a trust which should have been declared to the French administration, but which does not has not been, said a tax attorney VAT News.

Why Quebec?

Canadian corporate secrecy laws would be particularly favorable for such investments, and would be regularly invoked by the lawyers of Blue Bridge not to transmit information to the Hexagon.

The boss of Blue Bridge, Alain E.Roch, ensures that everything his company does is legal. "Our desire is to assert the right for our customers," he assured VAT News. However, he admitted to doing business with families whose assets were "offshore".

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