Chapter 518 The World's Largest Financial Systeme

  Andy continued: "Setting up a company in the Cayman Islands facilitates cross border business operations, helps avoid trade barriers and foreign exchange controls, and provides a simple registration process with easy management. It's perfect for overseas investment operations, such as our investment in Japan."

  "If it really works like that, it's fantastic. We all have substantial overseas investments, so we could re-register those companies in Cayman and place our overseas companies under Cayman ownership. That would save us from paying a lot in taxes and make fund transfers much easier."

  Other executives nodded in agreement.

  They were financial magnates, and they immediately saw the benefits of the Cayman Islands as a tax haven.

  Some of them were thinking even further ahead.

  The vice president of Morgan Stanley asked, "How many banks are currently in the Cayman Islands?"

  "Only Wells Fargo," Andy replied.