Flashcards: Offshore finance

A financial transaction tax is a levy placed on a specific type of monetary transaction for a particular purpose.

Robert Bernard Anderson (June 4, 1910 – August 14, 1989) was an American administrator and businessman.

An offshore financial centre (OFC) is a small, low-tax jurisdiction specializing in providing corporate and commercial services to non-resident offshore companies, and for the investment of offshore funds.

There is no generally accepted definition of what a tax haven is, but activities that are commonly associated with such places range far beyond tax.

Flag of convenience (FOC) is a business practice whereby a merchant ship is registered in a country other than that of the ship's owners, and the ship flies that country's civil ensign.

The law of the British Virgin Islands is a combination of common law and statute, and is based heavily upon English law.

Mossack Fonseca & Co.

Offshoring is the relocation of a business process from one country to another—typically an operational process, such as manufacturing, or supporting processes, such as accounting.

Treasure Islands: Tax Havens and the Men who Stole the World (2011) is a non-fiction book about the secretive role of offshore banks and tax havens in global economic affairs.

Alliance & Leicester International Limited (ALIL) was the international banking subsidiary of Alliance & Leicester, which was subsequently bought by the Santander Group in 2008.

Bradford & Bingley International (BBI) was the international banking subsidiary of Bradford & Bingley, which was itself acquired by the Santander Group in 2008.

Vistra is a provider of services and solutions for international incorporations, trust, fiduciary and fund administration services.

The Panama Papers are 11.

The Republic of Panama is one of the oldest and best-known tax havens in the Caribbean, as well as one of the most established in the region.

In 2010, the United States implemented the Foreign Account Tax Compliance Act; the law required financial firms around the world to report accounts held by US citizens to the Internal Revenue Service.

Marc Matthew Harris (born c. 1965) is a Panamanian accountant who was formerly active in the field of offshore financial services.

Luxembourg Freeport is a €50-million high security storage facility adjacent to Luxembourg Findel Airport.

Tavistock Group is a Bahamas-based private investment organization founded by Joe Lewis in 1975.

Nationwide International is a branch of Nationwide Building Society, based in Douglas on the Isle of Man.

OIL (formerly known as Offshore Incorporations Limited) is a privately owned global provider of company formation, focusing on serving the financial and professional intermediary sectors.

The Global Forum on Transparency and Exchange of Information for Tax Purposes consists of OECD countries and jurisdictions that agreed to implement tax related transparency and information exchange, founded in 2000, restructured in September 2009 including non-OECD economies.

Cathedral also known as Cathedral Investment Bank, is an Investment Banking and financial services group that provides services to a number of clients mostly associated with the Catholic Church and other religious entities.

Colombo International Financial City (CIFC) is a special financial zone that is expected to become an offshore financial centre.

Butterfield, officially The Bank of N.

HSBC Expat, formerly HSBC International, is the offshore banking arm of the HSBC Group and is wholly owned by HSBC Holdings plc , focusing on providing offshore solutions and cross border services to expatriates and migrants.

Jerome Schneider is an American financial adviser and author who encouraged his clients to hide their money from taxes using offshore banks.