the characteristics of tax havens
The Cayman Islands is a transparent, tax-neutral jurisdiction – not a tax haven.
The jurisdiction’s model of tax neutrality for financial services business has long been misunderstood, and when something is misunderstood, suspicion is not far behind.
These misperceptions around the jurisdiction have been perpetuated by the entertainment industry for decades, from box office hit legal thrillers in the early 1990s right up to commercials from a certain telecommunications company as recently as 2019. They have further been advanced by NGOs on a mission to eliminate international financial centres.
The Cayman Islands is an international financial centre that prides itself on global recognition of its commitment to principles of openness and transparency and we intend to use the facts about our jurisdiction to combat this misinformation, so onward we must go with our educational campaign.
Cayman Finance CEO Jude Scott elaborates in this guest blog for Dart Real Estate. (click here to read)