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> Economy

Cayman Islands: How they became a tax haven, how to open an account

Under the umbrella of the UK, with no income or property tax, the islands are home to branches of 43 of the world's 50 largest banks

Newsroom July 27 09:47

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It was deep in the night of February 7, 1794, in Boden Town, the only settlement on Grand Cayman, the largest of the three Cayman Islands. The storm was raging and residents were locked in their homes. Suddenly, they heard the church bell ring. This rarely happened, only in times of great danger. The watchman, always present on the nearby hill, could see a convoy of ships crashing onto the coral reefs to the north of the island. The reefs were cutting like razors, the ships were taking on water and beginning to sink.
The inhabitants, braving the bad weather, threw themselves into the boats to save as many as they could. With their experience of the waters, they managed to save many. As it turned out, the convoy consisted of British merchant ships. And in one of them, according to legend, was one of King George III’s sons, who of course was saved.

ΔΙΑΒΑΣΤΕ ΠΕΡΙΣΣΟΤΕΡΑ:www.newmoney.gr

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