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Offshore Banking
in Caribbean Dominica |
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Offshore banking
The term offshore banking
Banks on Britain’s Channel Islands (being offshore) actually
gave this term its name. Fact however is that most offshore
banks are not only located on islands. This term is nowadays
used figuratively to refer to such banks regardless of location
where the depositor is residing in another country, in which
more restrictive banking and tax rules are applied.
Offshore
banking however does not prevent assets from being subject
to personal income tax on interest because the personal income
tax of many countries makes no difference between interest
earned in local banks and those earned in foreign countries.
Financial offshore centers
- Anguilla
- Antigua
- Bahamas
- Barbados
- Belize
- Virgin Islands
- Bermuda
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- Cayman Islands
- Cook Islands
- Costa Rica
- Channel Islands
- Dominica
- Grenada
- Gibraltar
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- Jersey
- Nevis
- Panama
- St Kitts
- St Lucia
- The Grenadines
- Turks & Caicos Islands
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