DealZone

Cayman Islands’ beauty tips for offshore funds

March 27, 2009

MISS-UNIVERSE-2008/ The sunny, secretive Cayman Islands have an image to protect. Bracing for a crush of reporters looking for comments a few weeks before a G20 meeting that may target tax havens like the Caymans, the island’s financial officials have a message for hedge funds and others who might get grumpy with a flood of nosy scribblers: don’t muss us.

Among the presentation tips for dealing with “surprise” or uncomfortable encounters, the island’s Portfolio of Finance & Economics sent around this week:

–Remain calm and pleasant.

–Keep eye contact with the reporter.  Do not look directly into the camera, especially when speaking.

–Do not put your hands over your face or push away a camera.  And do not in any way make physically aggressive movements.

–Use bridging statements to respond to inquiries: “We are not in a position to meet right now, but would be happy to take down your questions and get back to you with answers,” which can then be provided in writing.  It’s OK to repeat this sentiment ideally, varying the phrasing: “I’m not the best person for this topic but…”

Finally (and this was not in the memo) they can hold out the hope that the media’s fascination with offshore funds will fade within a week. After all the G-20 meeting itself begins on April 2 in London and most of the producers, cameramen and scribes will reluctantly follow the story to that decidedly more inclement locale.

The advisory in full is attached below.

Comments
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The media recently made a big deal over Switzerland, Liechtenstein, Monaco and Andorra agreeing to provide banking details of people suspected of tax evasion. Pretty solid proof that an account is being used for criminal tax evasioon will be needed before they hand anything overThe havens are in the tax avoidance business. Tax avoidance is legal. The tax haven governments have never much cared for tax evasion. They will not be helping out in instances of legal tax avoidance.Plus ca change, plus c’est le meme chose as they say in several of the tax havens.

 

Perhaps the focus should not be on sovereign nations whose tax and banking systems help individuals retain their hard earned wealth, but on nations whose tax policies treat their citizens like chattel. These high tax nations are to blame for policies that have led to a collapse of global banking and trade.The low tax nations are providing an alternative to increasing abuses of freedom by high tax nations. The high tax club can gang up as much as they like. I believe freedom will prevail. Low tax options will simply morph around the attacks and move to different forms and locations.

Posted by Andrew Bourke | Report as abusive
 

The media “bought” us the A.I.G. bonus mis-direct too… can’t figure out which is more clueless… the “let’s create the news” media or the dolts of congress… perhaps it’s a tie… and we have the blind leading the lame…

 

Just think of it… a “reporter” gets to go to the Cayman Islands… with some of the most beautiful, sensational scuba diving on the planet; and gets to stand on seven mile beach for a few minutes asking stupid questions… and then into those gorgeous waters…where do I sign up for the job…

 

Nice tips

 

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