Offshore Financial Centre

Offshore Financial Centre

The global citizenship market: Why it matters today

When the first modern citizenship-by-investment programs were developed in the late 1980s and early 1990s, the investment migration industry was largely unformed, unknown, and...

Correspondent banking: The ‘de-risking’ phenomenon

In the face of the constant changes and challenges caused by the imposition of global regulations and anti-tax competition initiatives, Caribbean IFCs continue to...
Cayman Financial Review Logo

The offshore future is bright

During a recent STEP Caribbean conference in Grand Cayman, Tim Ridley, past chairman of the Cayman Islands Monetary Authority, listed the attributes that will...

Mauritius and the ‘color of money’

The largest bail amount in history is of the order of $1.5 billion for the release of Subrata Roy, “managing worker” at Sahara India,...

OECD and EU target citizenship and residency-by-investment programs

The Organisation of Economic Cooperation and Development and the European Union have targeted citizenship-by-investment (CBI) and residency-by-investment (RBI) programs. Most Caribbean jurisdictions have either...

Titan International Securities Inc v The Attorney General of Belize: a decision at first...

On Jan. 15, 2016, Justice Courtney Abel of the Supreme Court of Belize handed down a decision which should be read across Caribbean IFCs,...

BVI banking on remedy for struggling financial sector: Bank of Asia could turn around...

At a business conference in the British Virgin Islands in January 2016, Hong Kong-based businessman Carson Wen and his then-partner, Chad Holm, publicly presented...

The struggles of Baha Mar

A crude translation of Baha Mar might be “Low Sea,” and indeed the unfinished mega hotel/casino project on Nassau’s Cable Beach is aground in...
White toy-like people lined up with a mganifying glass highlighting a red one in the middle.

So, public registers of beneficial ownership. Now what?

On May 1, 2018, the inevitable finally happened and the British House of Commons mandated that the British Overseas Territories, but not the Crown...

Dangerous delusions of doom

The front page of England’s venerable weekly The Spectator recently headlined an essay titled “The Doom Delusion.” The author Johan Norberg writes that objective...

Friar Tuck Ltd, Quiver Inc and International Tax Authority: A British Virgin Islands’ decision...

For several years now, some of us in the financial services industry have lamented the plethora of legislation which has been foisted on jurisdictions,...

No wrongdoing – the first casualty of the Panama Papers

The Eleventh Commandment, and the First Law of Politics, is: Thou Shalt Not Get Caught. Icelandic Prime Minister Sigmundur David Gunnlaugsson certainly broke this...
ICO

Offshore and the benefits of capital mobility

An age of ever greater affluence The great economic fact of our time is the imminent eradication of extreme poverty. In the thirty years between...

Cyprus is open for business

In the 50 years since independence in 1960 from the British, who left behind a strong institutional legacy including a solid public administration, Cyprus...

Antigua and Dominica make changes to diplomatic passports as proper regulation of citizenship-by-investment continues...

In 2017, Antigua and Barbuda and Dominica have made changes to the operation of diplomatic passports while the St. Kitts government continues to debate...

The ‘useful purpose’ of offshore financial centers

Recently, 355 economists signed a letter co-ordinated by Oxfam arguing that tax havens have “no useful purpose.” There is a history in the U.K....
Cayman Financial Review Logo

Do ‘economic substance’ tests have any substance?

The European Union, through its Code of Conduct Group on Business Taxation, is drawing up a blacklist of “non-cooperative jurisdictions” that will be subject...

The impact of the Panama Papers

In contrast to the coverage of the Panama Papers, professionals in many offshore financial centers might argue that there are significant differences between offshore...

External regulatory developments continue to plague Caribbean financial centers

Caribbean international financial service jurisdictions must continue to deal with several external factors as they conduct business. Many of these developments pose challenges to...

Offshore community should prepare for rough U.S. election season

The 2016 U.S. presidential campaign has been anything but ordinary. Barring any last minute surprises, it is set to feature the two most disliked...