The Future State Of The Offshore Industry

Offshore Incorporations Limited Group (OIL) has been conducting the Offshore 2020 annual market research since 2010. This has created a platform to facilitate dialogue and debate surrounding the key trends and issues facing the offshore industry.

This time 12 months ago, the industry was facing perhaps its greatest threat in decades – an existential threat you could say. The ICIJ had published the so called offshore data leaks, a handful of international banks were making it increasingly difficult to open bank accounts using key offshore jurisdictions, the moral debated raged about successful multinationals not paying their "fair share" of tax regardless of the legal soundness of their approach, and the issue of tax transparency and public registries of beneficial ownership were debated at the highest levels at the G8 summit.