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The Cayman Islands is a leading offshore financial centre (also known as a tax haven), and financial services form a significant part of the economy of the Cayman Islands. Accordingly company law forms a much more prominent part of the law of the Cayman Islands than might otherwise be expected.
The US Bank Secrecy Act requires U.S. Taxpayers to file a Department of the Treasury Form 90–22.1 Report of Foreign Bank and Financial Accounts (FBAR: Each person or entity (including a bank) subject to the jurisdiction of the United States having an interest in, signature, or other authority over one or more bank, securities, or other ...
However, to open this type of account in Switzerland, clients must pass a multi-stage clearance procedure and prove to the bank the lawful origins of their assets. [8] Banking institutions that have adopted this practice in Europe , Asia , and the Americas also require clients to undergo stringent vetting and provide the identity of the ...
The revised list was much shorter than the original IMF list as it only focused on OFCs where the national economic accounts produced breakdowns of net financial services exports data. By September 2007, the definition of an OFC from the most cited academic paper on OFCs, [10] showed a strong correlation with the FSF–IMF definitions of an OFC ...
The Foreign Account Tax Compliance Act (FATCA) is a 2010 U.S. federal law requiring all non-U.S. foreign financial institutions (FFIs) to search their records for customers with indicia of a connection to the U.S., including indications in records of birth or prior residency in the U.S., or the like, and to report such assets and identities of such persons to the United States Department of ...
INB Financial Corp is the holding company of Texas-based Inter National Bank. Banorte exercised its option to acquire the remaining 30% of INB Financial Corp stock for $146.6 million in 2009. [ 3 ] As of March 2013, Inter National Bank has $2.1 billion in assets and is the 19th largest Texas bank.
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Republic Bank Limited is a Caribbean financial institution headquartered in Trinidad and Tobago.It has operations in Anguilla, Barbados, the British Virgin Islands, the Cayman Islands, Dominica, Ghana, Grenada, Guyana, St. Kitts and Nevis, Saint Lucia, St. Maarten, St. Vincent and the Grenadines, Suriname and Trinidad and Tobago.