how do the cayman island, virgin island corporations work?

how do the cayman island, virgin island, bermuda corporations work?

people always talk about taxs free offshore stuff at the places

 

VI as a location to run your business for tax reasons has been closed due to excessive fraud. Previously you had to have 10 people on salary, spend 6 months there and invest 450k into the local infrastructure. You need real money to make something like that work.

The VI are great to fuck off in...even work remotely from...dealing w. the locals will cause you to commit suicide or kill somebody. I am sure the Caymans would be better work wise----but there is absolutely nothing to do there...if you were to relocate...diving sure----thats it

 

thanks for the enlightenment
feel free to further explain
why are locals hard to work with???

this doesnt work if u are us resident does it?

 

it's currently widely used for money laundering. Caymen islands and VI are both popular destinations for fraud banks. You can open a bank in ur name with little documentation and start making frauds. Although some big corporations do route their money via CI and VI to save taxes earned.

Its highly used in brokerage markets which clone notes. I hope you know what clone notes means.

 

I've read a little bit about large corporations using Bermuda tax shelters in the past and I assume they are very similar to the Caymans and VIs.

In bermuda, a bunch of pocket lining fees use to be required up front depending on what your exact function was. These would range from local government charges to mandatory donations to Bermuda charities. It's all pretty shady to say the least.

 

all the dirty money, from drugs to money laundering to politicians to big business tycoons are sloshing their ill-gotten money in these places..........

 

welcome to capitalism + "democracy." It's not something that's going to change anytime soon, nor do I expect it to change. I'd prefer to have lying leaders and shady companies than an oppressive government doing the same things out in the open without any chance of punishment.