Of the various forces that have buffeted offshore financial
services in recent years, regulation and emerging demand bases are
probably the most significant. These forces have guided investors
to particular jurisdictions with increasing regularity, altering
– but not necessarily redrawing – the map. Indeed,
certain locations achieved a pre-eminence within the industry, and
for characteristics that are a direct response to offshore demand,
that it calls into question the applicability of the term
"offshore."
It started with mid-shore. This concept, which entered industry
parlance in 2011 or thereabouts, refers to jurisdictions that offer
the tax efficiency commonly associated with offshore and a robust
legal and accounting infrastructure. Hong Kong, Singapore,
Luxembourg and Dublin were readily cited examples of this
phenomenon.
