Geoffrey Cone is a renowned name in New Zealand’s legal and business circles. Mr. Cone is an established in the area of commercial litigation. Just the other day, Cone made a public publication in the press highlighting the state of foreign trusts in New Zealand.
Through the article, Cone points out that his country doesn’t have the characteristics of a tax haven as some quarters have tried to suggest. Ostensible taxes are not genuine in nature and the laws that surround them block the smooth flow of information with other states. Having said that, Cone reaffirms that the banking industry is New Zealand is transparent.
According to Cone, New Zealand has made significant strides in implementing tax standards that are favorable to foreign countries. Because of this effort, the country has made it to the OECD white list and continues to show exemplary leadership, accountability, and transparency in its foreign trust policies and transactions. The country is keen on following the current foreign trust laws and requirements.
Cone says that his country is forever willing to give the necessary information to foreign countries. In 2006, Michael Cullen introduced a new law in which countries are expected to provide Foreign Trust Disclosure Form obtained from IRD. Also, the state must maintain all vital tax records and information. For instance, they should keep a record of trustee income and expenditures, settlement information, distributions, trust deeds, and contact information.
About Geoffrey Cone
As mentioned before, Geoffrey Cone is foreign tax and commercial litigation expert from New Zealand. He is a graduate of the University of Otago and holds an LLB honors and a postgraduate diploma. He began his journey in Auckland in 1980 before moving to Christ Church. Cone was the Chairperson and Associate in a law firm with his duties being trust and tax advisory and providing commercial litigation services.
Cone as CO-Principal at the Cone Marshall Firm
Cone returned to Auckland in 1997 and founded his company Cone Marshall Limited in 1999. Cone Marshall Limited happens to be b the only one in Auckland, New Zealand that specializes in foreign trusts and tax planning. The company provides trustee management and trusts services through other partner companies.
Currently, Cone is a co-principal at the law firm and has represented many businesses within and outside his country. He is a known defender of his country’s reputation when it comes to foreign trusts. In an article he published in the Herald in 2012, Cone said New Zealand is transparent; hence many other states depend on it for their asset protection and suction planning services.