I am old enough to remember when The World, a residence at sea, was launched. I remember seeing the ads in the late 1990s promoting the idea of living full‑time on a luxury ship that circled the world every year or two. It seemed, at the time, like a crazy idea. It did, though, spark conversation and debate among the world’s one‑percenters, some of whom gave the idea serious consideration.
Three years before its launch in 2002, the International Herald Tribune (IHT) questioned what would be the chief reason for investing in an apartment aboard the 196‑metre‑long ship. Conrad De Aenlle, writing for the IHT in 1999, wrote: “Apart from the numerous other amenities, The World may offer one that would be certain to make the voyage more enjoyable for the wealthy inhabitants: tax avoidance.” Later in the same article, a representative from ResidenSea, the company that launched The World, did say that the ship “was intended more as a resort or a floating second home than a primary residence”, but also maintained that “ResidenSea remains agnostic on the tax implications”. In 2001, Forbes published a similar article, very simply and aggressively titled Floating Tax Haven.
Today, though, this is clearly not the case for most The World residents. Sixty‑five per cent of the owners are American. And Americans are taxed by their country no matter where they live and no matter how long they might be away.
Denne historien er fra September 2024-utgaven av Tatler Singapore.
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Denne historien er fra September 2024-utgaven av Tatler Singapore.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Old-World CHARM
Professional photographer and content creator Zipeng Lee takes off to Switzerland to experience some of the country’s most storied heritage hotels
THE World ACCORDING TO Redzepi
Renowned Noma chef René Redzepi and executive producer Matt Goulding unpack Apple TV's new eight-part docuseries, Omnivore, and its exploration of humanity through food
COURAGE OF CONVICTION
Tatler speaks to Bing Chen, Prabal Gurung and Kevin Lin to discuss how their non-profit Gold House is changing the future of the Asian diaspora
INDUSTRIALI
Exploring the important sustainability efforts taking place beyond obvious industries
THE BALL'S INHER COURT
China's most celebrated tennis star Li Na opens up about her career, influencing young athletes and her continuous learning journey
Love Story
Set in Paris, Graff's new bridal campaign marries the timelessness of love and diamonds
Over the Rainbow
The inspirations behind Hermés creative director for jewellery Pierre Hardy's latest and gorgeously colourful high jewellery collection surprise and delight
Twist and Turn
Bvlgari's debut Tubogas jewellery collection reimagines a classic technique with 16 stunning creations
Game On
From diamond‑set carabiner‑inspired clasps to a carbon fibre cuff, Chanel knocks it out of the park with Sport, an audacious and innovative high jewellery collection unlike any other
The Wrist Taker
Shipping scion and basketball team owner Hendi Widodo unlocks his vault of rarefied timepieces