The characteristics for a sustainable economy in the digital age
25 July 2018
The issue facing many international financial centres (IFCs) today is whether, realistically, they can survive increasing transparency on tax and beneficial ownership. Is the model broken?
The answer to this popular question varies from jurisdiction to jurisdiction. However, clear themes emerge which rationally predict sustainability of the offering. A sustainable IFC must balance the needs of five stakeholder groups:
- The international community
- The international client
- International business and professional counterparties
- Local business needs and aspirations.
- Local citizen needs and aspirations
Whilst these various stakeholder groups can be identified separately, many of their needs are complementary to each-other, whilst others generate partial or more significant friction.
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