e even surpassed these two states). The Channel Islands, Guernsey and Jersey, attract assets primarily from the United Kingdom and the continent, particularly France. As mentioned above, these tax havens share some common general characteristics; each, however, possesses certain specific characteristics which may be unique to its situation.
The Cayman Islands, situated 150 miles northwest of Jamaica in the Caribbean Sea, are probably the most widely used of all tax havens. The Cayman Islands also offer advantages for corporations and trust funds established within its borders. Caymans law permits the incorporation of "exempted" companies, or companies which declare that they will do no trade within the Caymans for any reason although they must maintain an administrative office in the Caymans. Exempted companies pay a higher license fee than ordinary resident and non-resident companies, but, in return, may obtain a guarantee from the government that they will not be subject to any income, capital or capital gains, estate, inheritance, or similar taxes
...