Interesting article on the UK ordering Cayman (and BVI) to prepare a registry of beneficial owners of entities that will be accessible by the public by 2016:
http://uk.reuters.com/article/2015/03/2 … c=401&
Gordon et al: How much do you think this will hurt the financial sector in Cayman (if at all)?
Cayman Registry of Beneficial Owners Coming Soon?
NomadLawyer
31 March 2015 22:57:11
693
Gordon Barlow
01 April 2015 01:08:31
1188
Nomad. In January 2013 I posted an item on my blog called "Lunching with the Stars", which you can Google, with my surname before the title. There, I told of how my trust-company employer in the 1960s helped selected Hollywood actors "convert" (in a manner of speaking) taxable income into non-taxable.
I've been out of the tax-haven business for thirty-odd years now, and methods change. However, I would be very surprised if the concept of discretionary trusts is obsolete and their use has been discontinued - or will be discontinued. As always before, the legislators of the OECD nations will turn a collective blind-eye to their sponsors' tax-dodges. These registers of beneficial owners will be just so much flim-flam. Nothing for anybody to lose sleep over.
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