Cayman Islands in the Foreign Press

by Cayman Net News

England: Holiday Lettings, July 23, 2008 – A number of tax havens have been recommended for property investors. Overseas property investment in tax havens is a popular option for would-be homeowners wanting to protect their assets from the problems rocking the economic markets.

Property investment in the Caribbean offers the “most winning ledger-lifestyle combinations” and there are several islands that are worth consideration. Holiday homes in Bermuda, Barbados, the Bahamas, the Cayman Islands and Grenada are all good options.

A Senate subcommittee plans to release another blockbuster report on the use of foreign tax havens after the first reports caused repercussions both here and abroad. Other companies and individuals in the U.S. and other countries are likely to be named in yet another upcoming report from the Senate subcommittee, which will explore tax havens set up in the Cayman Islands. It’s due for release by the time the subcommittee holds its next hearing on Friday. One site in the Caymans, the Ugland Building, reportedly serves as the address for over 12,000 companies. The Senate Finance Committee asked the Government Accountability Office and former comptroller general David Walker to travel to the Caymans last year to investigate what U.S. companies were doing with their offices there.