The tax havens hidden in plain sight
Many of the world's most secretive jurisdictions, ranging from Anguilla to Uruguay, are set to open their books to foreign tax by 2017. A year later, dozens more, including Belize, Hong Kong and Singapore, are set to follow suit.
Among them is Switzerland, abandoning a tradition of secrecy that dates back at least as far the 18th century when it safeguarded the riches of aristocrats fleeing the French Revolution. The same is under way in Singapore, Dubai and Monaco, which are also popular destinations for undeclared cash.
There are some holdouts: Bahrain, the Cook Islands, Nauru, Panama and Vanuatu, but they are unattractive to most investors. Fiona Fernie, a partner at Pinsent Masons, a law firm, says: "Eventually the only places to hide your money are the places you wouldn't want to go because they are so politically unstable."The tax havens hidden in plain sight - FT.com