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.
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.
