France withdrew Bermuda blacklist of tax havens.

I just came back to November 2013, Bermuda emerged from the black list of tax havens established by France in January 2014. This turnaround would be, according to Bercy, a favorable response to the need for transparency in the country..

Bermuda, dream destination for offshore.

Bermuda is actually a dream destination especially for businesses captive insurance subsidiaries of large companies think that they create for themselves their own insurance to cover their industrial and commercial risks, rather than go through the insurance specialist in London, Zurich, New York, for example. And 'likely to settle there after obtaining a license. But Bermuda is in high demand by individuals who want to establish their principal residence for tax people is very light in this country. E 'was only after spending six months on the blacklist that Bermuda (and Jersey) have been recognized as "washed" in Paris. Yet it is difficult to assess within six months the tax cooperation between the two countries. It seems that political lobby or financial intervened on the subject.

All the more so in a joint statement of Elisabeth Guigou and Christian Eckert, it was stated that "in light of the recent work of the Global Forum on Transparency organized following the meeting in Jakarta under the auspices of the OECD, this withdrawal is not justified, since neither Jersey nor Bermuda have obtained an overall assessment that justifies the withdrawal. "And in fact, many banks like BNP Paribas and Societe Generale have branches there in large numbers, in the same way the Total group. In addition, the tax to be applied to the capital that was transferred, both by individuals and companies, they have not been to this destination.

Stay tuned

However Paris defends justifying that adequate safeguards were taken. Still, some analysts believe that Bermuda is one of the most important places for international finance with rules facilitating the opacity of financial flows. Such is the case with the creation of trusts that can keep secret the identity of account owners in Bermuda. Finally, as there is no tax levy on companies in these islands, insurance catches are regularly fed by the transfer of funds from the profits of multinationals and which are therefore not fully taxes.

Markus Meinzer, it is just a "diplomacy of tax." Countries put the blacklist of tax havens, they respond by giving cooperation on certain issues, so that countries removed from the blacklist of tax havens. But there is no indication that these tax havens are not, thereafter, return to a higher opacity Meanwhile, this ad may have had a perverse effect. to publish in these tax havens will even more newcomers. It remains to this day eight countries on the blacklist of France. We bet that Bermuda does not give ideas to new countries to benefit from a new international respectability.