Cayman Islands to Disclose Tax Shelter Companies

After decades of secrecy, the tax-haven country is considering a public database that will make the names of thousands of previously hidden companies and their directors, public. CIMA, the three-islands’ monetary authority has outlined plans to create a public database of funds domiciled on the island for the first time, reports The Telegraph. The island nation is a group of three islands; Grand Cayman, Little Cayman and Cayman Brac in the Western Caribbean Sea. The country is a British dependent territory and has gained popularity around the world for its offshore financial centre. The Cayman Islands is the world’s fifth…