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jg10003
jg10003's Journal
jg10003's Journal
April 5, 2016
...when wealthy Americans do want to evade taxes, they turn to Bermuda, or the Cayman Islands, or Singapore. They dont park their money in Panama.
Bermuda, the British Virgin Islands (BVI) and the Cayman Islands all have changed their laws to court investment, giving them significant advantages over Panama. Those three countries operate under a derivative of English common law, which gives American lawyers a sense of familiarity and confidence in their legal systems. Further strengthening that trust, Panama is a Spanish-speaking country, while Bermuda, BVI and the Cayman Islands all use English. Wealthy Americans are also more confident in the political systems of the three countries as opposed to Panama, which many see as more unstable.
The Panama Papers: Where are the Americans? [answer: Bermuda, Cayman Islands, Singapore]
http://www.politico.com/agenda/story/2016/04/the-panama-papers-where-are-the-americans-000083...when wealthy Americans do want to evade taxes, they turn to Bermuda, or the Cayman Islands, or Singapore. They dont park their money in Panama.
Bermuda, the British Virgin Islands (BVI) and the Cayman Islands all have changed their laws to court investment, giving them significant advantages over Panama. Those three countries operate under a derivative of English common law, which gives American lawyers a sense of familiarity and confidence in their legal systems. Further strengthening that trust, Panama is a Spanish-speaking country, while Bermuda, BVI and the Cayman Islands all use English. Wealthy Americans are also more confident in the political systems of the three countries as opposed to Panama, which many see as more unstable.
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Member since: Fri Nov 5, 2010, 11:18 PMNumber of posts: 976