It's BVI not the Caymans.
NEW YORK, Jan. 6 /PRNewswire/ -- ACTRADE INTERNATIONAL, LTD's (Nasdaq-NNM: ACRT - news) subsidiary, Actrade Capital, Inc., announced today the establishment of a new credit facility with Commercial Finance Institution, Ltd., a British Virgin Island Company specializing in the financing of international commercial paper.
There's been a lot of discussion about the Cayman Islands. The Caymans are an independent, and not part of the British Commonwealth, and were never part of the British Virgin Islands. Commercial Finance Institution is on Tortola, the largest of the BVIs, which is next to St. John, which is next to St. Thomas. There are major banks, lenders and financial institutions present on Tortola, Barclay Bank being one of them. The Caymans are also a major banking center, as are the Bahama Islands. Just because it is an offshore financial center does not mean it is a storefront operation. There may be some tax or other advantages for securing the capital from an offshore institution. If any of you had as much money as you say you do, you would probably know about the Caymans, BVI and Bahama banks.
Joe Hoek
PS: Lloy. The Holiday Inn Cayman on 7 mile beach is where all the "tourists" go. If it's getting "too complicated" for you, why don't you leave. |
