July 14: Can Tax Havens Work In Your Favor
Initially, it should be noted that tax havens are an essential part of offshore investing. Many countries that set themselves up as tax havens did so because they had very little infrastructure or industry that could have been utilized to sustain the country. These countries generally have exceptional confidentiality and privacy regulations, and in countless cases, some of the world’s top banks reside upon their shores. In Vanuatu for instance, the ANZ and Westpac Banks may be found, while the Bahamas boasts more than 600 banks.