Tax Havens
If you live in the United States, the phrase “tax haven” might bring to mind palm trees, sand lodged in toe crevices, and small countries brimming with peculiar corporate offices. If you live in Europe, you may...
Issues
Offshore Financial System
In 2007, the IMF offered what has become a generally-accepted definition of offshore financial centers (OFCs): “An OFC is a country or jurisdiction that provides financial services to nonresidents on a scale that is incommensurate with the...
Anonymous Shell Companies
What is an anonymous company? An anonymous company is a corporate entity that has disguised its ownership in order to operate without scrutiny from law enforcement or the public. These “phantom firms” can open bank accounts and...
Citizenship by Investment
Many people derive non-monetary value from passports. It’s hard to put a price tag on, say, enmeshing oneself in a new culture, visiting a friend abroad, or standing atop Kilimanjaro. A passport is a papery key that...
Secrecy Jurisdictions
The terms “tax haven” and “secrecy jurisdiction” often refer to the same thing: physical locations characterized by laws and structures that promote secrecy. This secrecy enables wealthy individuals to hide financial assets from tax authorities and other...
Free Trade Zones
Free trade zones (FTZs)–also referred to as “special economic zones,” “free zones,” “export processing zones,” “free ports,” or, when located in the U.S., “foreign trade zones”–are small, geographically-circumscribed areas carved out of a country that are regulated...
Anonymous Companies
An anonymous shell company is a corporate entity that has disguised its ownership in order to operate without scrutiny from law enforcement or the public. These “phantom firms” can open bank accounts and wire money like any other company, making them a favorite tool for money launderers to hide their business and assets from authorities.
Anti-Corruption
Providing research, advocacy and policy solutions on anti-corruption is a key part of GFI’s work. Not only does corruption generate illicit financial flows, it also promotes other illicit activities that negatively impact governance, economic development, and...