Tax havens: Germans accumulate billions in offshore banks – economy

By Bastian Brinkmann

Germans park a lot of money abroad: at least 222 billion euros are in accounts outside the EU – several billion of which are in tax havens. This is based on a list from the Federal Ministry of Finance, which is available to the Süddeutsche Zeitung. Data refer to the year 2019. As a result, there were around 11.9 billion euros of accounts on the Channel Island of Guernsey, the same amount was stored in Liechtenstein. In the Caribbean, it was around 8.5 billion euros.

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