In this paper the author is presenting a multi-level analysis on the topic of offshore banking industry, more commonly defined as “tax haven”. The goal is to set a theoretic base behind the definitions of “offshore banking” and “tax haven” as well as identify the most important legislations of both onshore and offshore governments which highly impact the size of the offshore banking industry.
Finally, the paper aims to take a glance at different perspectives: local and offshore governments and, on the other hand, companies or individuals who add up to the population using offshore banking. The latter includes naming benefits and disadvantages of every variable of this analysis as well as focusing on real life examples such as Cayman Islands and Cyprus as “tax havens” and US together with EU for law and ongoing campaigns background.
Inhaltsverzeichnis (Table of Contents)
- Abstract
- Introduction
- History
- Tax Haven - Offshore Banking
- Rationale behind investor's decisions
- Offshore Financial Centres
- Offshore banking effect on local governments
- Prevention
- Conclusion
- References
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This paper provides a multi-level analysis of the offshore banking industry, also known as "tax havens". The study aims to establish a theoretical foundation for the definitions of "offshore banking" and "tax haven", identify key legislations impacting the industry, and examine perspectives from both local and offshore governments, as well as individuals and companies utilizing offshore banking. The analysis will explore the benefits and drawbacks of these practices, using real-life examples such as the Cayman Islands and Cyprus as "tax havens" and the US and EU for legal and campaign background.
- Definition and scope of offshore banking and tax havens
- Impact of legislation on the offshore banking industry
- Perspectives of local and offshore governments on offshore banking
- Benefits and drawbacks of offshore banking for individuals and businesses
- Case studies of specific tax havens and their impact on the global economy
Zusammenfassung der Kapitel (Chapter Summaries)
- Abstract: Introduces the paper's objective to analyze the offshore banking industry through a multi-level approach, focusing on defining key terms, examining relevant legislation, and considering the perspectives of various stakeholders.
- Introduction: Defines the terms "offshore" and "tax haven", highlighting their significance in the context of international finance. The chapter also introduces the concept of offshore banking as a haven for wealth management and discusses the importance of understanding its various aspects.
- History: Traces the origins and evolution of offshore banking, highlighting key milestones such as the Vienna Congress, the liberalization of incorporation laws in the US, and the post-World War II shift towards unregulated financial centers. The chapter discusses the role of Switzerland, the UK, and other key players in the development of offshore banking.
- Tax Haven - Offshore Banking: Explains the rationale behind investors' decisions to utilize offshore banking, focusing on tax avoidance, security, and asset protection. The chapter provides examples of how these benefits are perceived by individuals and businesses.
Schlüsselwörter (Keywords)
The key themes of this paper revolve around the complex world of offshore banking and tax havens. It examines the roles of legislation, taxation, and government regulation in shaping this industry, while considering perspectives from both onshore and offshore jurisdictions. The study highlights the importance of understanding the motivations and strategies of individuals and businesses utilizing offshore banking, exemplified through case studies of specific tax havens such as the Cayman Islands and Cyprus. Key terms encompass "tax haven," "offshore banking," "legislation," "taxation," "OFC," "onshore," "Cayman Islands," and "Cyprus."
- Quote paper
- Gabriele Pauliuk (Author), 2018, The offshore banking industry. Multi-level-analysis of Tax-Haven legislations of onshore and offshore governments, Munich, GRIN Verlag, https://www.grin.com/document/996478
