[qaq]

and that someone can be their own subsidiary in a jurisdiction with dif. tax treatment

[toomuchtodo]

Can be within the same taxing authority. I've facilitated facility transfers and leaseback agreements in the US.

Edit: Yes, you can't seize what isn't owned.

[tw04]

You also can't silently seize what is owned. Which is, generally speaking, the bigger issue.

[qaq]

I would also guess you could also shield assets this way from lawsuits etc