"Lifting the veil of corporate secrecy reveals a simple principle: Offshore is actually a set of professional services that specialize in enabling businesses and individuals to effectively retreat from legal, regulatory, and public scrutiny, empowering them vis-a-vis those who have remained 'onshore' without access to such services." - Hudson Institute
The image of "tax havens" and the term "offshore" may evoke islands such as Jersey in the channel between Great Britain and France, the Cayman Islands in the Caribbean, or Cyprus, which served as a intermediary between the Ukraine and Paul Manafort's extravagant purchases in the United States. But, as this new report from the Hudson Institute explains clearly, the system is in fact "without borders," with money from the global rich, including authoritarian leaders, parked in many places, including the City of London, Delaware, and New York.
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