Storm brewing for Caribbean

| 30/04/2009

(Wealth Bulletin): The Caribbean holds two big attractions for the wealthy: idyllic islands and low taxation. But a storm is about to hit the region’s tax havens. Rudolf Elmer, former chief operating officer of Julius Baer in the Cayman Islands who has turned whistleblower on tax haven abuses, says he has seen a surge in interest in information he holds on the island and its accounts from overseas tax authorities in recent months. Others believe the Cayman Islands is more compliant than many mainstream financial centres. Charles Jennings, joint managing partner of Cayman Islands law firm Maples and Calder, says: “Cayman operates a well-regulated financial system.

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