The Storm Over Tax Havens

There is nothing subtle about this tax haven. Websites boast how easy it is to create a limited-liability company here in 24 hours, by phone, by fax or online — no need to show up in person. Unlike some other offshore centers that require at least two people to form a corporation, only one is needed here. And for a fee, anonymity is assured. "We have a large database of shelf corporations available so that you can establish a history for your company," touts an ad for one service firm on the territory.

Is it the Cayman Islands?...

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