|
On
islands like
Nevis,
where offshore companies outnumber inhabitants, businesses
have operated in relative obscurity for years. Now that is beginning
to change.
Nevis' 17,000 companies, few of which have offices on the island,
are drawn by confidentiality laws and the lack of taxes - traditions
that have given offshore financial havens worldwide a
reputation for tax evasion, dirty money and fraud. |
|
Excerpt: |
Nevis
is among islands still attractive to criminals, said
David Marchant,
the Miami-based publisher of the newsletter
OffshoreAlert.
He cites last year's collapse of The Genesis Fund Ltd., which
promised investors returns of up to 45 percent and folded owing some
$50 million. |
