Thu, Jun 30, 2016
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. Blackstone buys minority stake in New York-based credit hedge fund Marathon[more]

    Benedicte Gravrand, Opalesque Geneva: Blackstone Strategic Capital Holdings Fund, a vehicle managed by Blackstone Alternative Asset Management (BAAM), has acquired a passive, minority interest in Marathon Asset Management, for an undisclosed sum. Based in New York,

  2. Investing - Soros, Druckenmiller among hedgies profiting in market plunge, Hedge funds were most bullish on bonds since 2004 before Brexit, Surprise Brexit vote unleashes scramble for dollars, High-yield hit on Brexit but no panic selling, Scientist turned hedge fund founder lured to pound, euro, Hedge fund avoids commodities, posts big gains[more]

    Soros, Druckenmiller among hedgies profiting in market plunge From HITC.com: Bullish positions in gold and volatility and well-timed short bets on China and emerging markets, among other areas, were some of the trades that benefited hedge funds on Friday as markets digested Britons' s

  3. Manager Profile - A 26-year old hedge fund manager called Brexit — here's what he thinks about the historic vote[more]

    From Businessinsider.com: Taylor Mann is not your typical fund manager. The twenty-six year old Texas A&M graduate manages Pine Capital in Larue, Texas (population 160), where he resides with his three-year old daughter. Also atypical compared with many of the largest funds out there, Mann makes

  4. People - Mariner Investment’s co-CIO Williams to leave $5.5bn firm, IOOF hires new alternatives portfolio manager[more]

    Mariner Investment’s co-CIO Williams to leave $5.5bn firm From Bloomberg.com: Basil Williams, co-chief investment officer of Mariner Investment Group, is leaving the $5.5 billion hedge-fund firm after negotiations to renew his contract failed. Williams will stay in his role until t

  5. Hedge Fund Due Diligence Exchange offers complete due diligence reports at $1500[more]

    Matthias Knab, Opalesque: HFDDX is offering complete alternative investment due diligence reports at $1500 US. Industry professionals can simply go to www.hfddx.com and indicate their interest in sponsoring one or more DD Reports for $1500 each.