What is a tax haven

• No tax, or very low rates of taxation;
• Strict bank secrecy provisions;
• A lack of transparency in the operation of its tax system, and
• A lack of effective exchange of information with other countries.

Tax Havens also help their users:

• Bypass financial regulations and regulatory watch dogs;
• Launder money earned illegally through drug trafficking or organized crime; and
• Hide from criminal laws and liabilities.

Tax Havens come in all shapes and sizes, from small, tropical Caribbean islands to old, aristocratic European principalities. They can be places you’d need a magnifying glass to find on a map or even large, major industrialized states. They can even be cities or designated areas within countries too.

Read about Ireland’s Tax Haven