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Biggest tax havens in the world

Last updated on: March 13, 2012 12:11 IST

Biggest tax havens in the world

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There has been a lot of talk about tax evaders stashing their wealth in tax havens around the world.

Here we take a look at some of the major tax havens.

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Image: Here we take a look at some of the major tax havens.


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Switzerland

It has the world's 19th-largest economy by nominal GDP and the 36th-largest by purchasing power parity. It is the 20th-largest exporter and 18th-largest importer of goods.

In nominal terms, Switzerland is one of the richest countries in the world by per capita gross domestic product, with a nominal per capita GDP of $75,835.

In 2010, Switzerland had the highest wealth per adult (financial and non-financial assets) of any country in the world.

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Image: A view of Zurich, Switzerland.


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The United Arab Emirates

The UAE oil reserves are ranked as the world's sixth-largest and it possesses one of the most developed economies in the Middle East.

It is the 35th-largest economy at market exchange rates, and ranks among the world's wealthiest nations with per capita GDP (PPP).

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Image: The UAE ranks among the world's wealthiest nations. A view of Dubai.


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Luxembourg

It is a member of the European Union, Nato, OECD, the United Nations, and Benelux, reflecting the political consensus in favour of economic, political, and military integration.

The city of Luxembourg, the largest and capital city, is the seat of several institutions and agencies of the EU.

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Image: A view of Luxembourg city.


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Cook Islands

The Cook Islands is a self-governing parliamentary democracy in the South Pacific Ocean in free association with New Zealand.

The 15 small islands have a total land area of 240 square kilometres.

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Image: A view of Cook Islands.


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Cayman Islands

The Cayman Islands is a British Overseas Territory located in the western Caribbean Sea. The territory comprises the three islands of Grand Cayman, Cayman Brac, and Little Cayman, located south of Cuba and northwest of Jamaica.

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Image: A view of Cayman Islands.


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Channel Islands

The Channel Islands are an archipelago of British Crown Dependencies in the English Channel, off the French coast of Normandy.

They include two separate bailiwicks: the Bailiwick of Guernsey and the Bailiwick of Jersey. They are considered the remnants of the Duchy of Normandy, and are not part of the United Kingdom.

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Image: A view of Channel Islands.


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Bermuda

Bermuda is a British overseas territory in the North Atlantic Ocean. Located off the east coast of the United States, its nearest landmass is Cape Hatteras, North Carolina, about 1,030 kilometres to the west-northwest.

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Image: A view of Bermuda.


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Liechtenstein

Liechtenstein, officially the Principality of Liechtenstein, is a doubly landlocked alpine country in Central Europe, bordered by Switzerland to the west and south and by Austria to the east.

Its area is just over 160 square kilometres, and it has an estimated population of 35,000.

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Image: A view of Liechtenstein.


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Virgin Islands

The Virgin Islands, often called the British Virgin Islands, is a British overseas territory located in the Caribbean to the east of Puerto Rico.

The islands make up part of the Virgin Islands archipelago, the remaining islands constituting the US Virgin Islands.

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Image: A view of Virgin Islands.


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Andorra

Andorra is a small landlocked country in southwestern Europe, located in the eastern Pyrenees mountains and bordered by Spain and France. It is the sixth smallest nation in Europe and an estimated population of 84,082 in 2009.

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Image: A view of Andorra.


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Gibraltar

Gibraltar is a British Overseas Territory located on the southern end of the Iberian Peninsula at the entrance of the Mediterranean.

It has an area of 6.8 square kilometres and a northern border with Andalusia, Spain. The Rock of Gibraltar is the major landmark of the region.

At its foot is the densely populated city area, home to almost 30,000 Gibraltarians and other nationalities.

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Image: A view of Gibraltar.


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Belize

Belize is a country located on the north eastern coast of Central America. Belize has a diverse society, comprising many cultures and languages.

Belize is the only country in Central America where English is the official language.

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Image: A view of Belize.


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Vanuatu

It is an island nation located in the South Pacific Ocean. The archipelago, which is of volcanic origin, is some 1,750 kilometres east of northern Australia, 500 kilometres northeast of New Caledonia, west of Fiji, and southeast of the Solomon Islands, near New Guinea.

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Image: A view of Vanuatu.


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Grenada

It is an island country and Commonwealth Realm consisting of the island of Grenada and six smaller islands at the southern end of the Grenadines in the southeastern Caribbean Sea.

Grenada is located northwest of Trinidad and Tobago, northeast of Venezuela, and southwest of Saint Vincent and the Grenadines.

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Image: A view of Grenada.


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Cyprus

It is a Eurasian island country located in the Eastern Mediterranean Sea, east of Greece, south of Turkey, west of Syria and Lebanon and north of Egypt.

Cyprus is the third-largest island in the Mediterranean Sea and the Republic of Cyprus is a member state of the European Union.

Will the FM raise tax exemption limits? Will he manage to keep both industrialists and common people happy? To know all about Union Budget 2012-13, Click here!

Image: A view of Cyprus.


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