Offshore Financial Centre

Offshore Financial Centre

Tackling NGO criticisms head on with new research and highlighting the positive role of...

Wealth surveys ably demonstrate the shifting patterns of global wealth and the rise and influence of private clients and institutional investors from emerging markets...

Substance over form: Part Two – the sine qua non of international tax planning...

In the first part of this two-part article published in October 2017 , I introduced the 15 BEPS Reports/Action points and provided background information...

Panama Papers: cui bono?

When you visit the Offshore Leaks Database from The International Consortium of Investigative Journalists (ICIJ), you will find a legal disclaimer that reads as...

Taxation matters in Bermuda

There is a common misconception in the “onshore” world that jurisdictions like Bermuda and Cayman, actually have no taxes at all – so called,...

U.S. tax enforcement in the Caribbean: Strategies for financial institutions and asset managers

As the fallout from the Panama Papers continues, the U.S. government has recently announced various criminal and civil enforcement initiatives to investigate individuals and...
Cyprus. Marina in foreground with city behind.

A review of the world’s offshore financial centers: Cyprus

Cyprus, officially the Republic of Cyprus, is an island country in the northeast corner of the Eastern Mediterranean, strategically located at the crossroads of...

Confidence, not confidentiality, is the key to a healthy future for IFCs

Whether or not it could fairly be said anymore that a career offshore, rather than simply a career-building stint offshore, is to take the...

Squaring the circle: How Singapore’s latest budget tries to balance spending growth with...

On Feb. 19, Singapore’s Minister of Finance Heng Swee Keat delivered the nation’s budget for 2018. While budget speeches are typically uneventful, this year’s...

Crackdown on multinationals down under

Against a background of persistent budget deficits and an ever-growing Australian national debt, multinationals have become a convenient target of the Australian Treasury and...
Figure 1 - Timeline of Major Currency Developments in the Cayman Islands

The Cayman Currency Board: An island of stability

The Cayman Islands and Hong Kong are two of the world’s great financial centers. They both owe a great deal of their success to...

Caribbean IFCs: Where to now?

Over the past two decades, various international cross-border and regulatory initiatives have been the catalyst for significant changes to the regulatory framework of international...

Mistreated? Tax treaties and ActionAid

ActionAid, a NGO that works on development issues, has just issued Mistreated, a report condemning tax treaties’ impact on developing countries’ tax collection efforts....

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...
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The questionable benefits of beneficial ownership registers

As much government as necessary, as little government as possible.” So goes the old classical liberal motto, concisely summarising a blueprint for freedom and...
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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,...

War on tax havens

Last year, parliament passed a law requiring the UK’s overseas territories, including Bermuda, the Cayman Islands and the British Virgin Islands, to publish lists...
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