The role of international finance centers in the PRC

There are many myths and misconceptions about the role that international finance centers, such as the British Virgin Islands and the Cayman Islands, play in international finance. Sadly, many common narratives about IFCs do nothing to dispel these myths. 

 

 

Economic citizenship and residency programs:

In this age of automatic exchange of information and transparency, IFCs have to find ways to survive -one such way is to increase the substance within their confines.   

 

The vital cross-border investment role played by IFCs

We have been able to respond with hard evidence to counter bogus arguments from opponents about the high levels of so called “tax leakage” from jurisdictions, such as Jersey, having a detrimental effect on the U.K. economy. 

 

Bahamas jurisdictional update

At Fidelity Bank’s recent Cayman Economic Outlook conference in February, economist Tyler Cowen outlined a sobering view of the new global economic reality in a speech titled ‘The new normal: Lower living standards and their impact.’

 

Trade and shipping: The world is not flat anymore

It was a decade ago when a celebrated book claimed that now we lived in a world that was flat: technology in a post-Berlin-Wall-world...

United States v. Eric St-Cyr, et al.:

US entities, including the Department of Justice and the Internal Revenue Service, continue to direct investigative efforts at the Cayman Islands financial sector in order to detect evasive tax maneuvers and other illicit activity.  

 

Leading IFCs deserve credit

The British Overseas Territories and Crown Dependencies are coping with increasing amounts of regulation and are working hard to obtain the credit many deserve for their response to the shifting regulatory agenda.    

 

Offshore financial centres and international development:

This article gives an NGO perspective on the role of offshore financial centres in global development and why it is in the self interest of OFCs to share information.

Caribbean financial centers: “We have met the enemy and he is us.”

Oliver Hazard Perry’s famous War of 1812 report of the Battle of Lake Erie to General William Henry Harrison in which he wrote: “We have met the enemy and they are ours: two ships, two brigs, one schooner and one sloop.”    

 

Attacking low-tax jurisdictions will not help Africa’s growth

The new millennium has brought unprecedented growth and prosperity to much of the developing world.  

 

The future of offshore financial centres:

The only issue more prominent than the mounting challenges faced by offshore financial centres (increasingly referred to as ‘International Financial Centres/IFCs’), is the question of whether their demise is now imminent. This has led in some quarters to the conclusion that the end of the offshore financial world is here. 

Stateless income and offshore financial services centres

Read our article in the Cayman Financial Review Magazine, eversion The Cayman Islands and other offshore financial services centres are sophisticated business locales, well situated...

Stock market investors and OFC-incorporated companies

Today’s global financial markets offer companies and investors an enormous variety of choices across a range of economic prospects, political systems, and operating environments.   

 

Highlighting how leading IFCs can support Africa’s economic development

It is our view that centers such as Jersey that can demonstrate their positive contribution to economic development, and package, administer and invest international capital at a competitive cost without dislocating domestic tax systems, will thrive.

 

Offshore financial centers in the global capital network

Some authors suggest that tax competition between governments is as productive as competition between firms, while others argue that it creates a free rider economy and increases inequality. 

 

 

Defrauded in the Bahamas: What is your best option?

Fraud occurs in the Bahamas just as it does elsewhere in the world and the options upon the discovery of fraud are much the same in the Bahamas as they are elsewhere.

 

Vladimir Putin and ‘de-offshorization’:

In his 2012 address, Putin declared that the level of offshore investments and ownership was so high that nine out of ten transactions made by Russian companies were made under foreign, not Russian law.

 

The future of the Irish corporation tax regime

At a recent visit to the OECD headquarters, the Irish government delegation was all smiles and used photo-ops, speeches and statements to extol the virtues of Ireland’s economic recovery. Only one cloud obscured the otherwise sunny horizon of the trip... 

 

Jersey ensures its regulatory landscape evolves

One of the factors that helps maintain Jersey’s leading position as an International Finance Center is its willingness to refine and enhance its regulations consistently to meet investor needs.   

 

Fighting back

Would the world be better or worse off if there were no so-called offshore financial centers? For those who can think beyond “stage one” and have a good grasp of economics, the unambiguous answer to the question is the world is better off.   

 

- Advertisement -