World's Best Tax Havens
Here are the top 10 places where you can hide money from prying eyes rather easily:, income taxworld Updated: Jul 13, 2010 09:20 IST
Here are the top 10 places where you can hide money from prying eyes rather easily.
If you want corporate secrecy, staying at home is best. Delaware delivers it all for anyone who asks.
An aggressive small state government defending tax secrecy from within the European Union for all it is worth--and attracting massive inflows of funds through its low-tax corporate structures at the same time.
The archetypal tax haven, and in many ways the granddaddy of them all. Created banking secrecy to help tax evaders (not to assist Jewish refugees, as they often like to claim) and until the last year or so, thought to be impregnable.
Barack Obama's favorite target--and not without good reason. The world's biggest small island financial center has a reputation for secrecy and low tax, but no one has yet answered the question, "does anything really happen there apart from affixing brass plates on doors?"
The City of London
The epicenter of the largest network of secrecy jurisdictions in the world--all focused on channeling anonymous money into London, which is done on an enormous scale.
Set out to make itself the low-tax entry point for Europe. It all seemed to go so well for so long--until the economy keeled over as bank after bank failed, revealing a situation where a blind eye had been turned to all regulation.
The favorite location for U.S. corporate inversions, or companies that move their headquarters to a tax haven while retaining their material operations in higher-tax America, and any offshore insurance company.
Doing everything it can to take over Switzerland's mantle. Is Singapore the new S in UBS?
A surprise entry, but Belgium has for many years been quietly working away at operating a low-tax regime for corporations and not exchanging information on bank accounts held in the country. It's changed its spots of late though. Expect it to fall out of the top 10 next time.
Yet another former British tax haven. Low taxes, high secrecy and vast amounts of real trade help hide the illicit flows its secrecy surely assists.
First Published: Jul 13, 2010 08:55 IST