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If you are wealthy and have a lot of holdings, create an offshore company and move all your wealth to it, then just get a company credit card. All your wealth and possessions is now owned by that company...

Spit balling here, but I'm not sure a wealth tax will fix it.

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If you're an owner of an asset, and your primary residence is in the country of wealth taxation, you pay a wealth tax on the value of that asset, no matter where that asset is located.

Another problem though is valuation of that asset. There will be huge incentives to show lower valuations, but that's already a case for things like real-estate property taxes, and somehow the system still works.

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