Offshore Tax Havens Should Plan For The End.

January 8, 2013.

Why? Why not? Nothing lasts forever and offshore tax havens should plan for the day when there is no significant benefit to going offshore for businesses and individuals. The prudent thing to do is plan for such a time because they don't want to be caught flat-footed if / when this happens.

The offshore services industry generates a significant part of the income of some offshore jurisdictions. They use these funds to run their governments and associated services. And there is also the employment provided to their citizens from the industry. What would happen if this revenue and industry were lost?

This is why it is important to have a plan for such as eventuality. And put in place alternatives to alleviate the economic pain that would happen. Sometimes things change faster than we thought was possible and nothing is ever the same again. It may not happen but its better to have diversification within an economy. So that when one area fails to deliver, the whole economy is not adversely affected.