The Offshore Centres are changing. They always were. Once they were Tax Havens then Offshore Centres, now often called International Financial Centres. The latter name gets away from the idea of islands in a turquoise sea.
The decline of the term Tax Haven has come about by the lessening of the appeal of tax advantages. A wider range of financial services are now offered and expected. Anti-avoidance measures have stimulated the introduction of new services and the development of new skills. The jurisdictions, being smaller and more focussed on the needs of international investors can be more reactive to market influence.
Previously changes in these centres were inspired by the ambitions of each jurisdiction to develop and extend its appeal. Local and expatriate professionals supported the governments in making their laws more consumer acceptable. This is changing. The facilities of offshore centres are now an important part of the investment world and not attractive appendages
