Offshore Financial Centre

Offshore Financial Centre

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...

Hurricane Irma highlights BVI’s need for reforms

After Hurricane Irma devastated the British Virgin Islands last September, more than 150 financial services workers and their families came to the Cayman Islands...

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...
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...

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...
Malta

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

In this third article in a series about the world’s premier offshore financial centers we look at the Mediterranean island of Malta. In large part...
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...

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...

Five facts about the BVI that shouldn’t have come as a surprise

The British Virgin Islands cover a geographical area of 152 square kilometers and are home to around 30,000 people – plus a major international...

Independent directors – governance trends

Independent directors have become synonymous with offshore investment funds, in particular, hedge funds, in a trend driven squarely by investors looking for greater oversight...

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...

Push for beneficial ownership register gaining steam in the US

The United States company formation sector dwarfs that in the offshore financial services industry. Some 1.3 million entities are incorporated in Delaware alone –...

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...

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...

Anguilla’s banking saga continues: ECCB found not to have legal authority to take control...

Regular readers may remember my 2016 article  in which I detailed the failure of Anguilla’s two indigenous banks, i.e., the National Bank of Anguilla...
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President Trump and the financial industry in the Cayman Islands – threats and opportunities

On Nov. 8, 2016, the world took a step into the unknown when the U.S. electorate determined that Donald Trump would be the 45th...

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...

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...
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