Wed, Oct 26, 2016
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

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. Opalesque Exclusive: Ex-SAC manager re-emerges with market neutral hedge fund[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: A manager re-emerged from the SAC battleground last year to launch his own hedge fund under the umbrella of New York-based investment firm Endicott Group.

  2. North America - Hedge-fund manager Kyle Bass says the U.S. is on track for stagflation, Billionaire hedge fund titans Dinan, Lasry on election, markets and best investment ideas[more]

    Hedge-fund manager Kyle Bass says the U.S. is on track for stagflation From Kyle Bass, founder of Hayman Capital Management, on Wednesday warned that the U.S. is headed toward so-called stagflation. Stagflation is typically described as persistently high inflation and hi

  3. David Einhorn speaks on passive investing, Mylan, his cheapest stock, the Fed[more]

    From Greenlight Capital hedge fund manager David Einhorn (Trades, Portfolio) joined nine other famed investors on Tuesday to talk about stocks at the annual Great Investors’ Best Ideas Investment Symposium in Dallas. Presenters at the annual conference typically pitch one or severa

  4. Investing - Fund set up to buy illiquid hedge fund stakes finds plenty of opportunities, Lansdowne's Roden says likes animal genetics company Genus[more]

    Fund set up to buy illiquid hedge fund stakes finds plenty of opportunities From As ValueWalk reported back in February, earlier this year Andrew Lawrence set out to raise $250 million to $500 million for a fund that will buy stakes in hedge funds that have suspended redem

  5. Other Voices: Follow the advice of investment consultants - I think not[more]

    Mark Rzepczynski, Founding Partner, Chief Investment Officer AMPHI Research and Trading, writes on Harvest Exchange: Investment consultants are a force to the reckoned with in the pension world. They advise and drive many pension decisions around the globe. Consultants literally control trillion