Please enable JavaScript.
Coggle requires JavaScript to display documents.
CHAPTER 4 OFFSHORE FINANCIAL CENTRE (MBM1195C) (INTRODUCTION (LOCATION…
-
CAYMAN ISLAND 
:
- It has the largest value in term of asset under management in offshore funds and is also the strongest presence in the US security market.
- Highest standard of living in the CARIBBEAN.
- GDP per capita is the 38 highest in the world
- Primary sources of income is indirect taxation, no income tax, capital gain tax or corporate tax.
- It is the 5 largest banking centre in the world.
:point_right: The most remote jurisdiction.
:point_right: The advantage of being a true primary jurisdiction with a tough but practical regulatory regime.
:point_right: Well positioned for Asian Market, but retain close ties to European countries.
:point_right: Providing a highly sophisticated range of services for its select clientele.
:point_right: As an OFC evolved because of a convergence of historical and geographical reasons.
:point_right: Taxes in Switzerland are levied by the Swiss Confederation.
:point_right: Considered as a tax haven location
:black_flag: Recently risen and considered as a centre for wealth management
:black_flag: Ranked 4th in the world (2009) Global Financial Centres Index (GFCI)
:black_flag: Hub for edge funds
:black_flag: Its private banking and finance industry (growing at a rate of 30% annually)
:black_flag: Located in a time zone to enjoy overlapping business hours
:black_flag: Gain advantage from:
::check: International links
:check: Relative Political
:check: Excellent air and sea transport
:check: State of the art communication
:check: Accounting
:check: Insurance sector
:black_flag: Location near Korea, Japan, Taiwan and mainland China, helped it develop a regional capital market
:black_flag: As a major hub for the arrangement, syndication, and management of euro credit to borrowers
-
-
:earth_africa: Used for both inward and outward investment platform for developing and developed countries :
:earth_africa: Has effective commercial and legal infrastructure required to support the development of a global network.
-
:earth_africa: Although panama (with Bermuda) was one of the earliest offshore corporate domiciles, Panama lost significance in the early 1990s.
:earth_africa: Panama is the second only to the British Virgin Islands in terms of the number of offshore companies located.
-
-
-
-
-