Mon, Mar 27, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

BVI, Cayman deny 'tax haven’ status publicly

Tuesday, April 16, 2013

amb
Dr The Hon D. Orlando Smith
Benedicte Gravrand, Opalesque Geneva: - The British Virgin Island's Premier and the Chairman of the Cayman Islands Stock Exchange recently protested publicly against name calling and misinformed labelling.

BVI Premier Dr The Hon D. Orlando Smith, OBE, on Sunday wrote a letter to UK newspaper The Mirror in response to an article published on the same day titled 'Thatcher, the Tax Snatcher’.

In his letter, published in the Daily Mirror on Monday, Dr Smith says that the article makes the "classic error of assuming that the use of an offshore structure is in some way improper for UK tax purposes or that some unauthorised benefit is obtained."

But this is not true, he says. Tax information in the BVI is transparent, which should suggest to journalists that offshore structuring in the Overseas Territories is lawful.

"Well advised international investors naturally gravitate towards the stability and security that the English Common law system of The British Virgin Islands offers for both trust and corporate structures," he adds.

The Virgin Islands, commonly known as the British Virgin Islands (or BVI), is a British Overseas Territory located in the Caribbean to the east of Puerto Rico. The Cayman Islands are also a British Overseas Territory, located in the western Caribbean Sea.

Separately, on Monday, Cayman Islands St......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Hedge fund liquidations in 2016 surpass 2009 levels, new launches decline[more]

    Benedicte Gravrand, Opalesque Geneva: Even as the hedge fund industry's total assets exceeded the $3tln milestone last year, hedge fund liquidations increased. So much so that 2016 had the highest number of liquidations since 2008, claims the latest HFR Market Microstructure Report, re

  2. Hedge funds find no joy in macro as returns lag Trump rally[more]

    From Gulfnews.com: In 2017, macro hedge funds were expected to shine. So far? Not so much. It's been a far from impressive first two months for funds that trade around macroeconomic events. Discretionary funds rose just 0.3 per cent through February, according to Hedge Fund Research Inc., while the

  3. Strategies - Billionaire investor Marc Lasry shares how he's playing markets right now, Classic models are failing FX hedge funds desperate for return[more]

    Billionaire investor Marc Lasry shares how he's playing markets right now From CNBC.com: Buy on the prospect of deregulation. Sell on the enactment of deregulation. That's the strategy that billionaire investor Marc Lasry is implementing, according to an interview with CNBC in Las Vegas

  4. Opalesque Exclusive: Aberdeen makes the case for the lower mid-market[more]

    Bailey McCann, Opalesque New York: Aberdeen Asset Management has released a new paper focused on lower mid-market private equity. According to the paper, this segment of the private equity market is gaining popularity with private equity investors that are looking for multiple expansion and less

  5. Hedge funds await outcome of French elections, feel pinch on lower oil prices & weak dollar[more]

    Komfie Manalo, Opalesque Asia: Hedge funds felt the pinch of lower oil prices and weak U.S. dollar as the Lyxor Hedge Fund Index was marginally down as of the week ending 14 March, Lyxor Asset Management said in its Weekly Briefing. The Lyxor He