Thu, Feb 11, 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. Credit Suisse cherry picks hedge fund ideas[more]

    From FT.com: Credit Suisse Asset Management plans to cherry pick profitable concepts from hedge funds with the launch in Europe of a “best ideas” strategy. The investment arm of the Swiss bank said the strategy will separate it from other funds blighted by “overcrowding problems”. It comes at a time

  2. Investing - Hedge funds bet on risks in U.S. blue-chip debt, Hedge funds bets against bank credit risk paying off, Tiger Global still likes Internet names, gets pointers from Jeter[more]

    Hedge funds bet on risks in U.S. blue-chip debt From WSJ.com: Hedge funds are betting the next bond sector to crack will be the $4.5 trillion market for the safest U.S. corporate debt. New York’s Perry Capital has placed a $1 billion wager against investment-grade bonds issued by 10 comp

  3. Short Selling - Hedge fund manager Kyle Bass is shorting real estate—again, Top US hedge fund has €80m short position in Paddy Power Betfair[more]

    Hedge fund manager Kyle Bass is shorting real estate—again From Fortune.com: He also predicted the mortgage crisis in 2008. Hedge fund manager Kyle Bass, who runs Dallas-based Hayman Capital, tanked the stock of a little-known real estate financier Friday by revealing that he is shorting

  4. Investing - Real estate secondaries sole 'bright spot' in 2015, As hedge funds stumble, one firm prepares to buy illiquid stakes[more]

    Real estate secondaries sole 'bright spot' in 2015 From IPE.com: The secondary market for property was the sole “bright spot” over the course of 2015, as hedge fund secondaries saw deals fall by two-thirds, according to a wide-ranging survey of the market. Setter Capital said 2015 saw th

  5. Opalesque Exclusive: Directors want to be considered trusted partners by new manager[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: A hedge fund director provides her perspective on emerging hedge fund managers. She will happily work with those who have set themselves up for future growth, s