Offshore News Digest for Week of March 11, 2002

CAYMANS BANK INFORMANT STRIKES AGAIN

Yet another tax cheat is done in by John Mathewson, convicted ex-owner of the defunct Guardian Bank & Trust on Grand Cayman.

I.R.S. MAY GET OFFSHORE CREDIT CARD INFORMATION

The full Wall Street Journal article.

LUXEMBOURG HOLDS FIRM

This low tax offshore center defies OECD, EU demands for information exchange, while its many investments funds prosper.

CLOSE SWISS U.N. VOTE CURBS QUICK E.U. TIES

GENEVA. Big turnout, close vote, slows European Union ties.

Assuming you enjoy city life, Zurich, Switzerland is the world's most desirable city in which to live, claims an annual survey.

GIBRALTAR PLANS MASS PROTEST

Accusing Tony Blair's Labour government of a sellout to Spain, residents of The Rock will hold protest demonstrations March 18.

NO-TAX BERMUDA ATTRACTS FOREIGN CORPORATIONS

HAMILTON. 4 out of 10 foreign businesses incorporated here did so because of the island's tax-free status.

And that makes high tax left-wingers furious.

HONG KONG'S FUTURE ANALYZED

It's not democracy, but what Beijing wants that counts.

CARIBBEAN HAVENS FORM BLOC

Eastern Caribbean island nations, including established offshore tax havens, form a free trade and passport group.

BARBADOS RECOMMENDED

An island loving romantic praises his favorite place.

U.K. OVERSEAS CITIZENSHIP TIME TABLE

A new law granting British passports and citizenship to 250,000 in the UK overseas territories could be operational by June.

NIGERIAN FRAUDSTERS SWITCH COUNTRIES

As the public catches on to the notorious e-mail 'Nigerian scam', fraudsters switch to less suspect countries as a base for crime.

TOO GOOD TO BE TRUE

Among many Internet scams, phony offshore banking deals are common ploys. Here's the anatomy of one such fraud supposedly based in Panama.

OFFSHORE INSURANCE HELPS RISK MANAGEMENT

US insurers go offshore for better financial returns on reserve funds, tax incentives, better risk insurance coverage.

DELAWARE: USA CORPORATE HAVEN

Why one small state in the USA is home to thousands of corporations. NPR radio explains. (RealPlayer software required to listen).

BAHAMAS ELECTIONS MAY 2ND

NASSAU. Bahamians will vote for a new Parliament on May 2. The current government's sacking of beneficial offshore financial laws and lost jobs may be hot issues.

LORDS RULING MAY FORCE NEW CARIBBEAN COURT

A UK Privy Council ruling spurs creation of a Caribbean Supreme Court for several nations including leading island tax havens.

I.R.S. OFFSHORE CREDIT CARD PROBE GROWS

LA Times reports the IRS card investigation may expand soon.

OFFSHORE ASSET PROTECTION TRUSTS, THE PANAMA WAY

Derek SAMBROOK explains sham trusts, real trusts, and which is best for you.

CHANNEL ISLAND BANKS STILL ACTIVE

Post 9/11 funds keep rolling in to JERSEY and GUERNSEY.

SWISS PRO U.N. VOTE MEANS LITTLE CHANGE

Observer sees no dramatic positive changes.

'Working in Switzerland' by Henley & Partners explains key aspects of Swiss immigration policies and procedures."

TICINO SWISS BANKS WEATHER ITALIAN TAX AMNESTY

LUGANO. Fears that an Italian tax amnesty would lead to a cash exodus from canton Ticino banks so far prove wrong.

ICELAND LOSES SOVEREIGNTY TO E.U.

Iceland joined the EU market and was forced to adopt 4,000 EU directives and rules with no say in the decision process.

NIUE BANKS ON AGAIN, OFF AGAIN

ALOFI, Niue. The Pacific island tax haven may end its offshore banking laws under OECD pressure. And then again, it may not.

ZIMBABWE: SUFFERING & SHAME

HARARE. Surprise! Robert Mugabe has declared himself re-elected president after a vote marred by violence, intimidation & fraud.

U.N. WORLD INCOME TAX MEETING

MONTEREY, Mexico. March 18-22 the tax collectors meeting from Hell gathers here to map plans for a UN "international tax organization" (ITO), a global IRS.

U.K. TAX LOOPHOLE CLOSE MAY KILL EXECUTIVE RECRUITMENT

LONDON. If Labour imposes a non-domicle income tax on expatriates in the UK foreign executives will leave and wont be replaced.

WHY IRELAND PROSPERS

DUBLIN. A new study confirms that the overall tax rate in Ireland is the lowest of all European Union nations, a major reason for Irish prosperity and a big draw for international businesses.

U.K. WILL VETO E.U. CORPORATE TAX PLANS

LONDON. Even British Labourites wont stand for high EU corporate taxes being imposed on all EU member states.

OFFSHORE INVESTMENTS FOR BRITS

LONDON. You don't have to be a rich British citizen to benefit from careful offshore banking and investments.

NIGERIAN SCAM WEB SITE

We all get those Nigerian scam e-mails and here's a web site devoted to exposing this fraud.