British Virgin Islands news: Smaller Q2 fall in company incorporation statistics; international promotion efforts paying off?

As reported by the BVI Beacon, the most recent company incorporation statistics from the British Virgin Islands show 11.471 companies were incorporated in the second quarter of 2014, taking the total for the first half of 2014 to over 25 thousand.

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Jersey Silence

On the 8th of July 2014 – nine days ago at the time of writing – the first stories based on a data leak from a private bank in Jersey were published.

The result of a collaboration between the ICIJ and the Guardian, the articles revealed that Hollywood celebrities, industrial tycoons, UK politicians and the Arctic Monkeys, among others, have links to offshore dealings in Jersey.

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Offshore wealth advisor: “British territories are definitely out”

Following the media in secrecy jurisdictions sometimes leads to the websites of offshore secrecy suppliers offering “wealth protection” and “sovereign investment”. These companies almost invariably have an ideological sales pitch, along the lines of “we provide asset protection for those who don’t trust the government”.

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Cayman news: the case for offshore?

A column published in April in the Cayman Financial Review makes the case for offshore.

It starts by claiming that the arguments of offshore’s critics are based on a “profound misunderstanding of how financial transactions occur. A series of incorrect assumptions about money, business, finance and government underlie them. These assumptions are disguised by often over-heated rhetoric and pseudo-scientific or completely unscientific calculations.”

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Jersey news: New promotional brochure seeks to attract Russian offshore business. Ukrwhat?

Following Russia’s annexation of Crimea, in recent weeks there has been growing coverage and debate in the international media about the role of the West – in particular the City of London – in protecting corrupt Russian wealth. See for example here, here, here and here.

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