Cayman offshore banks increased credit volumes last year
LONDON, England: Daily Telegraph, June 11, 2007 – Cross-border banks claims jumped $1,000bn in the last quarter of 2006 alone to reach $13,000bn, a sign that the excess liquidity sloshing around the world has not even begun to drain away.
Offshore banks, chiefly in the Cayman Islands and other parts of the Caribbean, increased their credit volumes 23pc last year to $3,300bn.
Hedge funds increasingly based in the Cayman Islands
NEW YORK, USA: New York Sun, June 11, 2007 – One of the things about the advent of “global” or “world” financial markets is that money has a way of traveling to places where it can be invested securely. For the past two centuries it has been New York. Increasingly, hedge funds are basing themselves “offshore” in low tax jurisdictions such as the Cayman Islands or the British Virgin Islands or Bermuda. London is gaining.
Cayman Islands hedge funds vs. national destiny
VIRGINIA, USA: Executive Intelligence Review, June 11, 2007 – The United States is internally ungovernable at the present time. By the same standard, every government in Western and Central Europe is also ungovernable at this time. They’re ungovernable, because the dominant force in the world today is typified by hedge funds. As long as you allow the hedge fund operation, which is largely a British operation, run through places like the Cayman Islands, you cannot actually determine the destiny of any nation, in terms of this collapse.
A few Indian companies use the Cayman Islands
NEW DELHI, India: Business Standard, June 11, 2007 – Indian companies, which are planning to spread their wings in the European markets, can save on the taxation costs, which will be high if the deal takes place through the parent company, which is registered in India. Similarly, company which is selling the stake could also explore the option of registering its subsidiary in the Isle of Man to reduce tax exposure.
Moreover, companies have also started using the Isle of Man route to get listed on the AIM. Out of the 18 India-related entities on the AIM, nine can trace their roots in the Isle of Man. A few others use tax havens such as Cayman Islands.
