Officials responsible for enforcing the law have had a difficult time in the fight against the offshore islands and countries that aid investors in concealing income and tax evasion. These countries, like Switzerland often have their financial companies marketing trust accounts as a way to protect the incomes of demands, but in reality is often the main concern is to evade taxes in the investor’s home country. Indeed, when a country is persuaded by the United States or the European Union to crack down on tax evasion, another country or countries to step into the breach to allow the extension of “globalized” opportunities to hide income. Thus, there is a boom in offshore investment in Singapore and Dubai.

Now in February 2006, Switzerland was committed to the European Union seeks to halt tax evasion. This in turn has created a boom in creating tax shelters in the island nation of Singapore. Swiss banks have strengthened their offices in Singapore to transfer the customer from Switzerland to Singapore. Singapore began strengthening its bank secrecy laws in 2001, which provides significant penalties for the disclosure of account information. It has also been a tax on income that is being made in China and other hot spots in Asia. Non-residents of Singapore or the obligation to pay taxes in accordance with the laws of Singapore, on income earned in Singapore. The U.S. Senate admitted that tax evasion is out of control and about 7 cents of every dollar paid by taxpayers are evaded, totaling at least $ 70 billion.

The ability to run this type of operation is enhanced by the use of the Internet to run a virtual office from anywhere on the planet. This includes the Web site, mail drop service, and telephone service. If necessary, many facilities are available to rent a room together for a meeting in several places along the coast, if it is really necessary. Singapore also has excellent communications and other physical infrastructure. It has become a regional banking center for the Southeast and South Asia. The independent city-state is a relic of the British Empire, like the Bahamas in the Caribbean and Dubai in the Persian Gulf. In this sense, the economy continues the tradition of the British Empire, for the protection of the individual’s right to financial and trade unions to do what they want with their money, without interference from governments and tax authorities, though often controlled by a small clique of bankers.