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Dip.Tax, B.A., LL.M.(Warwick), LL.D., MIT, TEP

International Tax & Legal Counsel

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Offshore Financial Centres:
OFCs' Response to recent International Initiatives
© 2002 Dr Jean-Philippe Chetcuti. All Rights Reserved.

Reprinted and updated in EuroMoney International Financial Centres Yearbook 2003.

 
INDEX

1. An Introduction to the Offshore World

Definition of ‘OFC'

Why go offshore?

Features of OFCs

Offshore banking

Criteria for offshore fund positioning

2. A changing scenario – international upheaval

OECD and ‘Harmful  Tax Competition

Reports Issued by the OECD

Effect of the OECD Report

Financial Action Task Force

FATF’s 25 Criteria

The Response to the FATF List

United Nations

Europe

Financial Stability Forum

3. Adapting to the new international legal order: a comparative study

Bermuda

Bahamas

Switzerland and Luxembourg

4. The Future of OFCs: Maintaining the Competitive Edge

Reputation

The Importance of Legitimate Investment

 

Abbreviations

BIAC

OECD’s Business Investment and Advisory Committee

FATF

Financial Action Task Force

FSF

Financial Stability Forum

G7

“Group of Seven”, Canada, France, Germany, UK, Italy, Japan, US.

IBC

International Business Company

IMF

International Monetary Fund

MS

Member State

OECD

Organisation for Economic Co-operation and Development

OFC

Offshore Financial Centre

See also:

From offshore to onshore:

"Malta International Trading and Holding Company Regime - tax efficient tax planning vehicles in a reputable onshore regime"

 

 

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