It is important to remember that the offshore financial center was originally founded by bank and corporate banks. Why? Because it feels grouped by ancient laws, regulations and laws. For example, Citicorp (the largest American bank in the United States) is one of the first to arrange offshore operations. Not too long before 64 percent of his net profit was produced by offshore sources.
Some pioneering centers have evolved into world-class financial and economic headquarters. Since the early 1970s, these centers have initiated policies intentionally designed to attract international trade by minimizing tax liabilities and reducing (or fully eliminating) restrictions on other business operations. The result is that economic activities in these centers are specifically intended for the special global needs of external business and investors.
Usually, these centers are small countries with small populations. Until now, more than 75 of these tax havens exist throughout the world. Each of them is a unique offshore paradise that is deliberately intended to attract investors who are very special with very specific needs.
For example, a center like Aruba is set primarily for economic development. Previously depending on oil refineries for its income, it has now implemented an investment policy that provides dishes for the global economic system. Being a haven offshore money is the answer. By "hiring" his laws on taxation, merger and other related legal issues, Aruba has begun the development process and a very necessary economic diversification.
Singapore, on the other hand, is designed to serve the Asian dollar market. Today this is one of the most prosperous of Havens in the world based on per capita. And Bahrain was developed to process the financial needs of offshore Middle East, especially Saudi Arabia.
All of the offshore offenses are made possible by the electronic revolution in the fund transfer mechanism that occurred since the early 1970s. The development of a single technology suddenly allowed and affordable to form banks, corporations, and parent companies in relatively remote locations. It also makes business between and intra-intra-intra-alternative viable for home based operations. In turn, this gave rise to the creation of international wholesale banks
