Privacy Protection Plans of the ‘Rich n Famous’

Andrea Divirgilio / April 12, 2008

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If you could afford to buy a hot ‘n’ happening property in an upscale locality with celebs as your neighbors, you wouldn’t bat a lid before writing the cheque. But, how do the Rich and Famous go about investing in properties they like without grabbing attention and at the same time guarding their privacy? The first headache they must deal with is the paparazzi, celebrity writers and fans dying to catch any news that will sell like hot cakes. Here is how they do it. Most stars hide themselves behind the trusts they have formed so that the property is registered in the name of the company and their identity remains incognito and more importantly avoid taxes. Luxury property dealers have their own websites which can be accessed through passwords only by select members. These websites put up the details of the property complete with floor plans, photographs, maps and topography of the property so that the celebs can view the property without actually going on-site.

Once the property catches the fancy of the celeb, private lawyers and hired agents go about negotiating and closing the deal on their behalf. While your super-rich celeb neighbors work hard to own a piece of luxury property, all you have to do is say that you live next to them with pride when someone asks for direction. So much for the privacy protection plan of the rich n the famous!

via BusinessWeek

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