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Spoilt for choice

Caribbean international financial centres are markedly improving their offerings to global offshore clients to very good effect

10 June 2015

The prospective offshore settlor is spoilt for choice. No longer is a neutral tax base and stable government sufficient; jurisdictions now deploy ingenious new ways to attract your business.

As summer approaches, three Caribbean IFCs have particularly impressed (and not just for the hope of a 'networking' trip): the British Virgin Islands (BVI), Cayman Islands, and Bermuda.

BVI

BVI rejoices in a capital city with the piratical name of Tortola, and in its VISTA trust structure. This structure is particularly suited to trust funds holding shares in family companies, or where the settlor wishes to retain management control.

Disapplying the 'prudent investor' rule, the trustee can be prevented in most circumstances from monitoring and intervening in the management of any company...

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