But the difference is that the US has harsh punishment and a system that learns from its mistakes. In Germany, bad actors are usually involved with the highest political circles and nothing ever happens. See the "cum ex" scandal, which cost the tax payers something like $36b and Germany just let it continue for years after taking notice.

The U.S. is one of the few countries that actually prosecutes financial fraud. Here in Canada we've quietly become the world's money laundering leader, or at least second only to Switzerland and there's essentially zero resources dedicated to any kind of enforcement.

North Dakota is now the worlds capital for hiding money.

Judging by the variety of answers on this thread alone, I'm going to assume that if random internet commenters all know that a place is the most secure, secret place to do something illegal, it probably isn't really.

The first rule of tax shelters...

How is it better (or worse!) than Delaware? Reporting requirements for Delaware C Corps are pretty lax from what I have seen. I even recall reading somewhere that few Americans were ensnared by the Panama Papers scandal [1] because they could just register in Delaware.

p.s., Sorry any Delaware residents. You live in a very nice state.

[1] https://en.wikipedia.org/wiki/Panama_Papers

You mean the one that nails people driving on interstates with toll booths for driving about 20 miles in the state?

This state should be called the "land of trolls"

North or South Dakota? Have heard a lot about South Dakota trusts, but nothing about North.

When you see Citi 'headquarted' in Sioux Falls you know something is up. ND, SD, NV, AZ, UT, FL, TX--one seldom gets a warm and fuzzy feeling of reassurance from these business addresses.

Banks it makes sense. SD doesn't have usury laws, and multi-state banks can charge interest based on their home state's laws.

As to what the other states get you, I'm not sure.

s/Canada/Vancouver; #or maybe Toronto

Not a lot of money laundering coming through NL or SK

"harsh punishment and a system that learns from its mistakes"

... what?