Offshore wealth ‘likely to decline’

Offshore wealth ‘likely to decline’

But according to researchers International Financial Services London (IFSL), the share of global wealth in offshore funds, compared to onshore, is expected to decline, from 6.

% this year to 6.

% in 2011.

br>IFSL, who describe themselves as ‘the only independent cross-sectoral organisation representing the UK financial services industry’, estimate that of the global offshore centres Luxembourg holds the largest value of bank deposits and portfolio investments ($2,350 billion in 2006) followed by the Caribbean, Switzerland, the UK offshore islands (including Jersey, Guernsey and the Isle of Man), Hong Kong and Singapore.

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