Understanding Offshore Financial Centers

Описание: Understanding Offshore Financial Centers

An offshore financial center (OFC) is one where the bulk of financial sector activity is offshore on both sides of the balance sheet—that is, the counterparties of most financial institutions’ assets and liabilities are non-residents. Transactions are typically initiated outside the jurisdiction, and the majority of the institutions involved are controlled by non-residents.
OFCs are generally described as:
Jurisdictions with a large concentration of financial institutions engaged primarily in business with non-residents;
Financial systems whose external assets and liabilities are disproportionately large compared to domestic financial intermediation, which is normally focused on supporting the domestic economy; and
More broadly, centers that offer some or all of the following features: low or zero taxation, light or moderate financial regulation, and banking secrecy or anonymity.

TIMESTAMPS:
0:00 INTRO
0:06 What are financial centers
1:12 Non-resident transactions
2:01 Tax & regulation traits
2:14 HK & Singapore examples
2:42 Smaller Caribbean centers
3:09 Limited local value add
3:19 Other offshore examples
3:35 OUTRO

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