General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsThe British Virgin Islands hold about 40% of all off-shore accounts...
Our good friend, Great Britain, folks.
http://www.huffingtonpost.com/2013/04/08/caribbean-tax-shelter_n_3039269.html
<snip>
The British Virgin Islands known in shorthand as the BVI are home to roughly 28,000 souls and 500,000 active offshore companies. That represents about 40 percent of the offshore companies that exist around the globe, according to a 2011 World Bank report.
Secrecy is a selling point for outlanders who want to charter a company on the islands, which govern themselves as a British overseas territory.
....
Tax Justice Network, an anti-corruption advocacy group, ranked the BVI 11th highest among the most secretive jurisdictions on its global Financial Secrecy Index.
The BVI became a player in the offshore world in 1984, when local authorities passed the International Business Companies Act. The number of companies birthed in the territory grew quickly, swelling in a decade from fewer than 1,000 a year to 36,000 a year.
...more
dkf
(37,305 posts)kentuck
(110,950 posts)dkf
(37,305 posts)This is why I harp on UK regs btw. It's not to divert attention on US banks but because I think the UK is the loophole that gets us in trouble.