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Ireland is a top-five conduit OFC, the largest global tax haven, [1] [2] and the third-largest OFC shadow banking centre. [3] An offshore financial centre (OFC) is defined as a "country or jurisdiction that provides financial services to nonresidents on a scale that is incommensurate with the size and the financing of its domestic economy." [a] [4]
Conduit OFC and sink OFC is an empirical quantitative method of classifying corporate tax havens, offshore financial centres (OFCs) and tax havens. [1] [2] [3] "Uncovering Offshore Financial Centers": CORPNET's map of connections between countries. [4]
A financial centre (financial center in American English) or financial hub is a location with a significant concentration of participants in banking asset management, insurance, and financial markets, with venues and supporting services for these activities to take place.
The International Finance Centre. Financial services in Jersey are a highly important part of the economy of the British island of Jersey.. Jersey is considered to be an offshore financial centre (OFC) and one of the most economically successful OFCs in the world. [1]
It may be referred to as an offshore financial centre, by international institutions such as the International Monetary Fund (IMF). [8] However, in its April 2009 progress report, the OECD listed Gibraltar in the list of jurisdictions which, although committed, had not yet "substantially implemented" the internationally agreed tax standard. [9]
The advantage to offshore investment is that such operations are both legal and less costly than those offered in the investor's country—or "onshore". Locations favored by investors for low rates of tax are known as offshore financial centers or (sometimes) tax havens. Payment of less tax is the driving force behind most 'offshore' activity.
Offshore financial centre, a term synonymous with a tax haven; Conduit and sink OFCs, a categorisation of offshore financial centres/tax havens; Optional federal charter, a proposal to streamline and simplify US insurance regulation; Ottawa Folklore Centre, a former instrument and music store in Ottawa, Canada
Offshore financial centre From the plural form : This is a redirect from a plural noun to its singular form. This redirect link is used for convenience; it is often preferable to add the plural directly after the link (for example, [[link]]s ).