We all know what Benjamin Franklin once said about death and taxes, but he may have only been half right. Modern medicine sometimes works miracles but it cannot, in the end, keep the Grim Reaper away. Arcane financial practices, loopholes in tax codes and offshore tax havens, on the other hand, have enabled some to avoid paying the high taxes that come with being a citizen of pretty much any country out there. Tax havens have come under increasing scrutiny since the late 1990s. However, offshore tax shelters like the Cayman Islands in the Caribbean Sea remain an attractive financial option for corporations and wealthy individuals who want to take advantage of a favorable – and legal – tax code. The Cayman Islands, one of the largest banking centers in the world, does not require residents or corporations registered on the islands to pay personal, capital gains or corporate taxes. In addition to a nearly non-existent taxation system, the Cayman Islands boast some of the Caribbean’s most pristine beaches, plus a variety of real estate options for the tax averse buyer hankering for a tropical hideaway. Photo Credit: Getty Images
Dubai has claimed its place as a new home to luxury and high-end lifestyles. Its housing market is no different. Here, MainStreet highlights several homes that make American mansions look like dollhouses.