Search results
Results from the WOW.Com Content Network
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 ...
The Financial Service Unit of the Commonwealth of Dominica or (FSU) is the main financial regulatory authority in the Island of Dominica, it is one of the most stringent financial authorities in the Caribbean and is a major participant in the offshore regulatory framework. Dependent on the Ministry of Finance the Financial Service Unit ...
Both offshore and onshore banking centres often have depositor compensation schemes. For example: The Isle of Man compensation scheme [15] guarantees £50,000 of net deposits per individual depositor, or £20,000 for most other categories of depositor. Potential depositors should be aware that any deposits over the guaranteed amount are at risk.
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 ...
According to Investopedia: "Panama's offshore jurisdiction offers a wide array of excellent financial services, including offshore banking, the incorporation of offshore companies, registration of ships and the formation of Panama trusts and foundations."
It wholly owns First Citizens (St. Lucia) Limited, which it established as an offshore financial vehicle for the Bank and its subsidiaries and also to conduct selected banking and financial service operations in the Caribbean Region. The Group's Chief Executive Officer is Karen Darbasie and the office of Group Chief Financial Officer is held by ...
The bank was founded in 2002 as FirstCaribbean International Bank through the merger of the Caribbean operations of Barclays Bank and CIBC, and in March 2006 both CIBC and Barclays announced that Barclays wished to exercise their option to exit the Caribbean venture completely resulting in CIBC gaining majority-control of the bank. In June 2011 ...
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.