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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]
The most popular offshore financial centres are in jurisdictions with a history of political and economic stability. In terms of offshore banking centres and in terms of total deposits, the global market is dominated by the US, Switzerland and the Cayman Islands .
A report published in Nature in 2017 on the analysis of offshore financial centres called: "Uncovering Offshore Financial Centers: Conduits and Sinks in the Global Corporate Ownership Network", [4] provided a quantitative and scientific approach to the classification of tax havens. [34] [35] [1] [3]
Tavistock Group is a Bahamas-based private investment organization founded in 1975. The company is headquartered in the offshore financial center of The Commonwealth of The Bahamas and has offices in 13 countries; Bahamas, the United Kingdom, Australia, Canada, Mexico, the United States, Jamaica, Argentina, Poland, Moldova, Romania, Bulgaria, and Sri Lanka.
The British Virgin Islands is now one of the world's leading offshore financial centres, and boasts one of the highest incomes per capita in the Caribbean. In addition to basic company incorporations, the British Virgin Islands also forms limited partnerships and trusts (including signature "VISTA" trusts) but these have not proved to be as ...
The Global Financial Centres Index (GFCI) ranks the competitiveness of financial centres based on over 29,000 assessments from an online questionnaire and over 100 indices from organisations such as the World Bank, the Organisation for Economic Co-operation and Development (OECD), and the Economist Intelligence Unit. The first index was ...
At the core of the FSF-IMF definition of an offshore financial centre is a country where the financial BEPS flows are out of proportion to the size of the indigenous economy. [47] Apple's Q1 2015 "leprechaun economics" BEPS transaction in Ireland was a dramatic example, which caused Ireland to abandon its GDP and GNP metrics in February 2017 ...
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