Top 5 offshore financial centers
- By Zhang Junmian
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china.org.cn, November 23, 2011
Offshore financial centers (OFCs) are mostly situated in small countries or autonomous districts such as islands in the Caribbean or micro-states elsewhere. These tiny, low-tax jurisdictions are well-known for providing highly-specialized and distinctive international financial and corporate services.
With their strengths in easy registration procedures, low risk, lax foreign exchange control and favorable tax policies, these offshore jurisdictions have become popular destinations for individuals and international businesses to park their assets.
China.org.cn has compiled the top five island tax havens that have become the registry Mecca for publicly-traded companies in the world and play an important role in the global economy.
Mauritius 毛里求斯
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Mauritius, with all of 2,040 square kilometers in land, is an island nation southeast off the African Continent in the southwest Indian Ocean. [studentsforliberty.org] |
Mauritius is dubbed as "The Indians' Hong Kong" with the very wealthy Indian businessmen setting up companies there to manage their operations in India. Presently, about 10,000 offshore companies targeting the Indian and South African markets have been registered there, with a total investment of over US$1 billion poured into the local banks. Many large-scaled banks in the world also opened their branches in Mauritius. International companies are eligible for tax exemption, while 80 percent of commodities are imported free of duty.
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