About
Offshore finance centres have tried to shake off the image of tax havens and there is huge disparity between the well-regulated jurisdictions meeting OECD or FATF requirements and havens at the other end of the scale. The general downward trend in income or corporation taxes in the last decade has meant the distinction between onshore and offshore havens is blurred. The debt crisis in onshore jurisdictions of the size of Greece is a reminder that being larger than an island such as Jersey, Guernsey or Cayman is not in itself a guarantee of good governance and finanical stability - two charges regularly levelled against all smaller OFC's.
