How safe is Cayman's offshore "industry"?
#1
BE Forum Addict
Thread Starter
Joined: May 2012
Location: Cayman Islands
Posts: 4,999
How safe is Cayman's offshore "industry"?
I'm a longtime resident of the Cayman Islands and a former Manager and sometime Councillor of Cayman's Chamber of Commerce. These days I'm long retired from tax-haven involvement, but having lived in one tax haven or another for most of my life, I remain interested in what's going on Offshore generally.
Occasionally I post short items on my blog about tax havens, most recently a week or so ago in the wake of the Cyprus fiasco. There's some concern here as to whether Cayman's banks could suffer the same fate as Cyprus's. Are we who live here in danger of losing our savings the way Cyprus's residents lost theirs? How many years are left before our corrupt politicians and bureaucrats bring our economy to its knees, the way Cyprus's brought theirs?
Lots of questions, not many clear answers yet!
Occasionally I post short items on my blog about tax havens, most recently a week or so ago in the wake of the Cyprus fiasco. There's some concern here as to whether Cayman's banks could suffer the same fate as Cyprus's. Are we who live here in danger of losing our savings the way Cyprus's residents lost theirs? How many years are left before our corrupt politicians and bureaucrats bring our economy to its knees, the way Cyprus's brought theirs?
Lots of questions, not many clear answers yet!
#2
BE Forum Addict
Joined: Oct 2007
Location: Charlotte,NC
Posts: 1,717
Re: How safe is Cayman's offshore "industry"?
WHAT!! Should I move my money from CNB??? Was going to do it anyway to uncomplicated tax returns but now you got me thinking I should definitely do it..