Category Archives: New Zealand Law

Cone Marshall: New Zealand’s Only Law Firm For International Trust and Tax Issues

Cone Marshall is one of the most prominent international law firms in all of New Zealand. This firm’s main office is located in the Parnell House in the metropolitan city of Auckland. Cone Marshall has serving the greater New Zealand community since it was officially opened in 1999. Workers at Cone Marshall specialize in international law and international trust issues.

Karen Marshall, who now serves as the principal of this law firm, worked in the field of commercial litigation in London 10 years prior to joining Cone Marshall. She has a LLB from the University of Otago, New Zealand. Marshall has been working as the principal of Cone Marshall since 2006, and she is known for her expertise on statutory trustee companies and managing international trusts.

The other half of the Cone Marshall name, Geoffrey Cone, is a graduate of the University of Otago as well. He received both an LLB honors and a post graduate diploma from this university. Cone’s studies focused on tax and trust law. He began professional work with various New Zealand law firms in the 1980s. Cone even traveled to the British West Indies for two years and served as a litigator there. Some other areas Cone is very familiar with from his previous work include advisory work, commercial litigation, and tax advisory work.

Cone Marshall Limited is proud to be the only law firm that specializes in international trust and tax planning in New Zealand. Over the years, Cone Marshall has helped hundreds of international families in New Zealand by providing them with accurate and effective tax planning advice.

Members of Cone Marshall are also not afraid to get involved in the public arena. For example, Geoffrey Cone published a popular article in 2012 that called into question New Zealand’s supposed “secret” banking industry. Many critics claimed that New Zealand was attracting so many foreign trusts because of shady banking deals. Cone wrote, however, that New Zealand has so many more foreign trusts because the country is recognized around the world for its safety and stability.

Cone went on to write that New Zealand meets all the standards for transparency. For evidence, Cone noted that New Zealand totally agrees with the 2002 Organization for Economic Co-Operation and Development Model Agreement on Exchange of Information on Tax Matters. This agreement is still seen today as a standard for transparency on tax and trust issues. Cone sees nothing in New Zealand’s banking structure that goes against any of the principles in this agreement.

People interested in reading more of Cone’s work on de-mystifying the New Zealand banking rumor can check out his article on Facebook, Twitter, Google+, and LinkedIn. The article is titled “New Zealand—A Model of Tax Transparency.”

No Tax Haven Available In New Zealand

Attorney Geoffrey Cone has expressed deep concern about how many false claims have been made about New Zealand being a good tax haven. He has objected to foreign trusts being talked into investing in his home country. These new trusts have been featured far too much in the press and other media, according to the Cone Marshall representative. The advertisements say anyone can earn great wealth. They claim to have creative financing sources for anyone to own exotic homes in strange and fun locales. Geoff Cone says this information is not accurate.

The Karen Marshall firm has discovered the empirical reasons that New Zealand is not the tax haven it has recently been billed to be. They found that New Zealand not only does not qualify as a tax haven, according to the OECD Model Agreement on Exchange of Information on Tax Matters, which is an international agreement that outlines the required characteristics of tax havens. New Zealand cannot match all the requirements, at all! The agreement, which begins a new “White List” at the OECD, which lists all officially non-tax haven countries. New Zealand is one of the first countries on that list.

In fact, as Cone points out, New Zealand has never been listed as a tax haven on the OECD main list. Neither is there any plan in the works to ever add the country to the main list of all tax haven countries. Cone says New Zealand tax law is so very complex, it is no wonder people could be persuaded otherwise, and invest there believing it a safe place for outside investments. He talks about the 39 double tax riders New Zealand puts on foreign investment. There are also hallmarks of countries that do function as tax havens. They include these basic three:

• Limited or no taxes on investments from outside
• Completely transparent tax laws
Open exchange of tax revenue data with host countries

Cone believes that these tax agreements are hobbling the country from ever becoming a true tax haven for foreign powers. Most countries have tax reporting laws that the agreement upholds by sharing information about their citizens who are invested in New Zealand businesses.

Check out Cone’s website here: