OK, there is a serious risk that the tax haven corporations will die out one day. When? Exactly when all the high-tax, high-public-expenditure countries will lower their corporate, income and capital gains taxes to zero, or at least close to zero. No way? We thought so… Despite the political and economic pressures exerted by the “big guys” (EU, the US, Australia, Canada, China, Russia) and some of the notorious puppy organizations like OECD and FATF, the leading offshore financial centres have demonstrated surprising resilience and are now doing better than ever. There is a simple reason for this. A huge amount of business people worldwide have voted with their wallets and have chosen to incorporate their businesses offshore. Practically every person of means usually has some part of his/her assets placed offshore. As a result, offshore has penetrated all aspects and facets of global economy. There is a huge mass of wealth sitting, and growing, in offshore companies and offshore accounts. The “critical mass” of global offshore-based wealth has been created a long while ago, and it`s growing stronger by the day.
