Book contents
- Frontmatter
- Contents
- List of figures
- List of tables
- Preface
- List of abbreviations
- PART I The past
- 1 Linkages
- 2 The ‘Offshore’ environment
- 3 The service providers and the consumer (1)
- 4 The service providers and the consumer (2)
- 5 The significance of taxation
- 6 A description of regulatory and supervisory processes
- 7 The regulator and the regulatory authority
- 8 Money laundering
- 9 Some international organisations and groupings
- PART II The present
- PART III The future
- Appendix 1
- Appendix 2
- Index
3 - The service providers and the consumer (1)
from PART I - The past
Published online by Cambridge University Press: 21 August 2009
- Frontmatter
- Contents
- List of figures
- List of tables
- Preface
- List of abbreviations
- PART I The past
- 1 Linkages
- 2 The ‘Offshore’ environment
- 3 The service providers and the consumer (1)
- 4 The service providers and the consumer (2)
- 5 The significance of taxation
- 6 A description of regulatory and supervisory processes
- 7 The regulator and the regulatory authority
- 8 Money laundering
- 9 Some international organisations and groupings
- PART II The present
- PART III The future
- Appendix 1
- Appendix 2
- Index
Summary
Both the thinkers of the Enlightenment and their successors proved unable to agree as to precisely what those principles were which would be found undeniable by all rational persons … [N]or has subsequent history diminished the extent of such disagreement.
Introduction
In any discussion about ‘Offshore’, there are at least three interest groups to be considered. First, there is the ‘Offshore Finance Centre’ itself – the marketplace where the ‘sellers’ and ‘buyers’ trade. The second group are the ‘sellers’ or the service providers which are those organisations that sell their services to the final consumers. Examples range from large banks to small trust and corporate services companies. The third group – the ‘buyers’ – are the ultimate users of the services. These are the clients of the service providers, for example the person who establishes a trust offshore.
This chapter describes the marketplace, i.e. the ‘Offshore Centre’ per se, and the next chapter focuses on the consumers and service providers.
Why should a jurisdiction want to be a marketplace?
First, the word ‘jurisdiction’ should be interpreted to include countries. In general, the smaller the jurisdiction, the more difficult it is to develop and to maintain a diversified economy. (Chapter 15 describes some of the difficulties that are faced by small island economies in particular.) Smaller ‘Offshore’ jurisdictions are islands, mainly because islands frequently do not have diversified economies, and imports represent a substantial portion of the balance of payments.
- Type
- Chapter
- Information
- Offshore Finance , pp. 37 - 57Publisher: Cambridge University PressPrint publication year: 2006