Is it I, asked the Cayman Islands? NO, said the mirror. Is it I, asked Switzerland? Nein, said the mirror? Is it I, said the Channel Islands? Not bloody likely, said the mirror?
It’s me of course, barked the US! And the mirror said, YES! But only for non-US Persons!
Imagine an offshore jurisdiction where a person can form a tax-free company, over the phone in minutes using a credit card. Imagine in that same country that non-residents could receive bank and insurance company interest tax free. Imagine in that country that non-residents could buy and sell securities with tax free profits?
How could such a wild place be allowed to exists in these days when personal liberties are being daily traded away for security?
It gets worse. Tax-free companies from that place who have no US owners, can conduct business everywhere else in the world tax-free. They can even have a US corporate tax ID number, and they don’t have to ever identify there beneficial owners.
Such a place ought to be sanctioned by the OECD and black listed for “unfair tax competition”!
But it won’t be because that place is the United States of America—the world’s largest tax haven! Delaware and Nevada alone have more companies organized there than all the top foreign tax havens combined.
This is great news if you are a non-US citizen who wants to take advantage of such enlightened laws, but less great when you are in a tiny IFC trying to better the lives of the people in your small nation and the US attacks you for doing exactly what it does in its own offshore sector!
