March 20, 2019

The Cayman conundrum: why is one tiny archipelago the largest financial centre in Latin America and the Caribbean?

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By Dr Jan Fichtner From LSE Analysing how millions of multinational corporations structure their global ownership chains reveals that Cayman acts as a ‘sink’ offshore financial centre where foreign capital accumulates and data trails often end, writes Jan Fichtner (University of Amsterdam). Try to guess what the top destination of outward foreign direct investment (FDI) […]

Senior Guernsey politician says new finance report is ‘littered with errors’

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From itv UK A senior politician in Guernsey says a new finance report is ‘littered with errors’. The Financial Secrecy Index, published by the Tax Justice Network, ranks jurisdictions according to the level of secrecy and their offshore financial activities. Guernsey was included in the top ten, along with the Cayman Islands, Luxembourg and Germany. […]

Cayman Islands: Hotly-contested election behind it, as challenges remain

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By: Peter Body From International Investment The long-term stability of the Cayman Islands, coupled with its early willingness to participate in global efforts to create an international network of automatic information exchange and similar schemes, are seen as helping it to maintain its place as a top financial services jurisdiction, particularly for hedge funds. Still, […]

Cayman Islands says offshore register is ‘pointless’

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By Vanessa Houlder From Financial Times UK Financial services minister brands David Cameron’s plan ‘weak policymaking’ The Cayman Islands hosts many of the world’s investment funds The Cayman Islands branded a transparency drive backed by David Cameron as “pointless”, as it mounted a vigorous defence of offshore finance in the run-up to Thursday’s anti-corruption summit. […]

Treasure Islands: Britain’s offshore hubs

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AFP From Bangkok Post LONDON – Prime Minister David Cameron is under pressure to demand greater transparency from Britain’s overseas tax havens, which critics say help promote and support corruption. The leak of documents from Panama-based law firm Mossack Fonseca shone a spotlight on British offshore financial centres, with more than half of the 214,000 […]

Isle of Man chief predicts ‘anti-offshore activity’

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By Mark Battersby From International Adviser Isle of Man Government chief minister Allan Bell has predicted a wave of negative campaigning focused on the Isle of Man and the other crown dependences, if Jeremy Corbyn wins the leadership of the UK’s Labour Party. Bell identified Corbyn’s chief economic adviser as the offshore critic Richard Murphy, […]

Cayman Finance questions GFCI index methodology

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1 October 2014 (George Town, Grand Cayman) According to the findings of the sixteenth Global Financial Centres Index (GFCI 16) published twice yearly by Z/Yen Group, the Cayman Islands has fared extremely well when it comes to recognition by clients. Cayman received a high global average assessment at 635, beating all its other offshore financial […]

“Bitcoin Jesus” promises a virtual paradise

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By Jason Clenfield and Pavel Alpeyev From The Washington Post He’s known as “Bitcoin Jesus” in the world of cyber-currencies. Though he can’t promise you heaven, he is offering a haven: a condo in the Caribbean that comes with a new passport and almost zero taxes. Meet Roger Ver, ex-U.S. citizen, ex-convict, millionaire investor, self-described […]

Caribbean International Finance Industry: Why and what politics matter

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From Stabroek News Don D. Marshall is Senior Research Fellow at the Sir Arthur Lewis Institute of Social and Economic Studies at the Cave Hill, Barbados, Campus of the University of the West Indies To engage in a re-reading of Caribbean offshore financial centres (OFCs) is to encourage difficult dialogues.  For over 30 years, Caribbean […]

Global tax standard attracts 42 countries

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By Vanessa Houlder From Financial Times The Cayman Islands, Luxembourg and Jersey are among 42 countries that have agreed to pioneer a tax transparency regime in another milestone in the global crackdown on evasion. The Paris-based OECD described the plan for automatic exchange of information on bank accounts holding more than $250,000 as a “real […]