ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Resource-poor nations thrive as tax havens

Widespread coverage of the Panama Papers has prompted a closer took at tax havens.

TOKYO -- Many of the tax havens put under the spotlight by the Panama Papers furor are Caribbean islands with few resources and little industry that rely on this business for income, or countries such as Switzerland or Singapore that have made their name as financial hubs.

Though there is no formal definition of a tax haven, many impose no or minimal income and corporate taxes. They often have lax regulations allowing companies to be set up easily and quickly, or place a high value on privacy, letting financial institutions keep account information secret.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more