Hong Kong, China (PressExposure) July 02, 2009 -- Zetland Fiduciary Group is currently challenging the assumptions of media-led groups across the world, promoting the idea that 'grey list' status for offshore investment business countries is not a negative thing.
The 'grey list' created by the OECD names countries that have "committed to improving transparency and establishing effective exchange of information in tax matters", according to the OECD website. The full grey list appears at the end of this document.
"There are many other reasons that someone would want banking secrecy other than to evade tax", said Jason Weatherhead of Zetland Corporate Services. "Protection from frivolous litigation is one, and avoiding media attention and the judgments of others based on your financial situation are good reasons also".
Zetland Fiduciary Services offers business consultancy services and company formation services in several of the grey list countries, and has offices in Belize and the Seychelles.
Countries on the grey list face significant international pressure for more transparency. Jeffrey Owens, director of the OECD Centre for Tax Policy and Administration, said recently that "Political tolerance for non-compliance is headed rapidly towards zero".
However, Zetland Fiduciary Group sees the time taken to ensure that agreements satisfy all parties and maintain secrecy for legitimate, legal bank account opening customers is essential. "Nations are attacking those who are Enlightened, those taking reasonable and just steps to secure that which was earned by them and belongs to them", said Marcin Galas of Zetland's Belize office. Mr. Galas added that it is necessary to neither be too transparent, or too secretive in banking dealings.
The following countries appear on the OECD 'grey list' as at June 23, 2009:
â¢ Andorra â¢ Cook Islands â¢ Malta â¢ San Marino â¢ Anguilla â¢ Cyprus â¢ Marshall Islands â¢ Seychelles â¢ Antigua and Barbuda â¢ Dominica â¢ Mauritius â¢ St. Lucia â¢ Aruba â¢ Gibraltar â¢ Monaco â¢ St. Kitts & Nevis â¢ Bahamas â¢ Grenada â¢ Montserrat â¢ St. Vincent and the Grenadines â¢ Bahrain â¢ Guernsey â¢ Nauru â¢ Turks & Caicos Islands â¢ Bermuda â¢ Isle of Man â¢ Netherlands Antilles â¢ US Virgin Islands â¢ Belize â¢ Jersey â¢ Niue â¢ Vanuatu â¢ British Virgin Islands â¢ Liberia â¢ Panama (Spanish), (English) â¢ Cayman Islands â¢ Liechtenstein â¢ Samoa
About Zetland Corporate Services: The Zetland Financial Group - http://www.zetland.biz - provides the offshore investor with fiduciary Services, investment management and corporate advisory services, offering personal service and professional advice with total confidentiality.
For more information please contact:
Jason Weatherhead Zetland Fiduciary Group Email: jason ( @ ) zetland dot biz Website: http://www.zetland.biz