dimanche 15 mai 2011

Cayman Islands: The most populous building in the World!

A small five-story building in the Cayman Islands holds the record number of companies it hosts: 18,857 companies. It is the law firm Maples & Calder is located on South Church Street in the capital George Town,"home" these front companies in the capital of the Cayman Islands
U.S. President Barack Obama determined to put an end to tax evasion plaguing the United States said: "During the campaign I talked about the shame I felt for a building in the Cayman Islands in which more than 12 '000 companies claimed to have located their headquarters ... and as I said before, it can only be the tallest building in the world or the biggest tax scandal (...) the kind of tax scandal which we must end ... ".
Reacting to U.S. President, Charles Jennings, one of the leaders of the firm Maples & Calder was still held in the relative size of its offices: "I am sorry to disappoint anyone, but our office does nor is the largest building in the world, nor a center of financial misconduct ... Have an address registered in the Cayman Islands is motivated by commercial considerations and not for tax evasion ... This allows companies to raise capital and conduct business globally", he told to news agency Bloomberg.
The firm Maples & Calder took the opportunity to point out that the company CT Corporation Services USA, served as an official address to more than 200,000 American businesses by offering one of the most advantageous legal systems in America north for the big companies.
This figure of 12,000 companies was topical in 2004. Since then, over 1,000 new companies have located their headquarters every year to the premises of increasingly narrow the law firm Maples & Calder, located on South Church Street George Town, the capital of the Cayman Islands.
The business law firm has irrefutable argument for attracting foreign companies. Although an overseas territory of the United Kingdom, the average tax rate around 5% of profits against nearly 35% elsewhere.

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