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https://en.wikipedia.org/wiki/Cayman_Islands https://en.wikipedia.org/wiki/Cayman_Islands > The nation's low tax rates have led to it being used as a tax haven

https://en.wikipedia.org/wiki/Cayman_Islands https://en.wikipedia.org/wiki/Cayman_Islands > The nation's low tax rates have led to it being used as a tax haven for corporations; there are 100,000 companies registered in the Cayman Islands, more than the population itself. The Cayman Islands have come under criticism for allegations of money laundering and other financial crimes, including a 2016 statement by former US president Barack Obama that described a particular building which was the registered address of over 12,000 corporations as a "tax scam".

DelaneyM 3y ago
Our decision to have lower taxes, because we don’t need to raise more money, seems an odd thing to criticize us for. Companies do not choose Cayman. They choose “not my home/operating country”, then as a well regulated and safe third party location many of them end up in Cayman. And you should be glad they do, because here they operate transparently and legally, and if it’s for tax benefits whatever tax loopholes exist in their home countries are closed they’ll have no choice but to richly comply. (BTW, In surveys the most frequent reason cited for being in cayman is regulatory neutrality, not tax mitigation.) And if Obama has a problem with hundreds of companies sharing an address, I can’t wait until he finds out about Delaware. Or a post office!
- JohnFen 3y ago
  > Our decision to have lower taxes, because we don’t need to raise more money, seems an odd thing to criticize us for. I don't see where the Cayman Islands were criticized.