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The definition of an offshore financial centre dates back to academic papers by Dufry & McGiddy (1978), and McCarthy (1979) regarding locations that are: Cities, areas or countries which have made a conscious effort to attract offshore banking business, i.e., non-resident foreign currency denominated business, by allowing relatively free entry ...
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]
The Tax Justice Network ranks the US third in terms of the secrecy and scale of its offshore financial industry, behind Switzerland and Hong Kong but ahead of the Cayman Islands and Luxembourg. [2] The United States has been popular as a destination for offshore funds for Chinese investors, said Canadian financial crimes expert Bill Majcher ...
The OECD, who only list one jurisdiction in the world as a tax haven, Trinidad and Tobago, note the scale of corporate tax haven activity. [50] Note that the IMF list of offshore financial centres ("OFC") is often cited as the first list to include the main corporate tax havens and the term OFC and corporate tax haven are often used ...
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.
A jurisdiction with a substantial proportion of the offshore financial sector but low opacity may earn the same overall ranking as a smaller but more secretive jurisdiction. The rating takes into account not only which countries are the most secretive, but also magnitude (the amount to which a jurisdiction's secrecy is likely to have a ...
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One of the key elements of the center is a privately held financial exchange that opened in September 2005 as Dubai International Financial Exchange (DIFX) but was rebranded as NASDAQ Dubai in 2008. The trading hours of NASDAQ Dubai are from 10:00 a.m. to 2:00 p.m. (6:00 a.m. to 10:00 a.m. GMT), from Sunday to Thursday. [10]