Commonly heard in the crime genre that involves money laundering, as most would hide their stash over there either in actual cash or digital monetary transfers. It’s only an island nation within the Caribbean, the thing is: why is it treated like a Swiss Bank of some sort? As in, either elites or those on the run would hide their funds in Cayman Islands.
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London designed them specifically to be a tax haven.
Because the laws of the Caymans allow corporations to keep owners and directors secret. So once money hits the Caymans it becomes nearly impossible to trace.
This film sort of explains it. https://en.wikipedia.org/wiki/The_Laundromat_(2019_film)
They needed a tropical alternative to the icy snowy world of Switzerland
Any place with low taxes, low or rich people favorable oversight over the financial sector, or chance to park money anonymously is a place rich people gravitate to.
