Development of offshore financial centers in the Caribbean (1960s–present)

1. Bahamas passes key bank licensing law

   Jan 1, 1965Labels: The Bahamas, Banks and

   • Central Bank Bahamas

2. Cayman creates modern banks and trust framework

   Jan 1, 1966Labels: Cayman Islands, banking law

   • Mondaq Cayman
   • CIMA Silver

3. Bahamas establishes a central bank supervisor

   Jun 1, 1974Labels: Central Bank, The Bahamas

   • CBoB History
   • CBoB Wiki

4. Cayman enacts confidentiality preservation law

   Jan 1, 1976Labels: Cayman Islands, Confidential Relationships

   • Mondaq CRPL

5. BVI passes International Business Companies Act

   Aug 15, 1984Labels: British Virgin, International Business

   • Appleby BVI
   • BVI Gov IBC

6. U.S.–U.K. signs Cayman mutual legal assistance treaty

   Jul 3, 1986Labels: United States, United Kingdom

   • Congress Treaty

7. Bahamas expands offshore company tools

   Jan 1, 1989Labels: The Bahamas, International Business

   • FinCEN 2000

8. FATF is created to fight money laundering

   Jul 1, 1989Labels: Financial Action, G7

   • FATF History

9. Barbados launches International Business Companies regime

   Jan 1, 1991Labels: Barbados, International Business

   • CAIPO Barbados

10. CFATF forms regional anti-money-laundering coordination

    Nov 1, 1992Labels: CFATF, Caribbean

    • CARICOM CFATF

11. Cayman creates Monetary Authority (CIMA)

    Jan 1, 1997Labels: Cayman Islands

    • CIMA Silver
    • CIMA Wiki

12. Bahamas launches the Bahamas Financial Services Board

    Apr 1, 1998Labels: Bahamas Financial, The Bahamas

    • BFSB Profile

13. OECD report targets “harmful tax competition”

    May 19, 1998Labels: OECD, Harmful Tax

    • OECD 1998

14. Global Forum begins tax transparency peer pressure

    Jan 1, 2000Labels: OECD Global, OECD

    • OECD Forum
    • GF Wiki

15. U.S. warns of Bahamas AML weaknesses

    Jul 1, 2000Labels: U S, FinCEN

    • FinCEN 2000

16. Bahamas enacts Financial Transactions Reporting Act

    Dec 1, 2000Labels: The Bahamas, Financial Transactions

    • BFSB AML

17. BVI replaces IBC Act with Business Companies Act

    Jan 1, 2005Labels: British Virgin, Business Companies

    • BVI Act Wiki
    • BVI Gov IBC

18. U.S. enacts FATCA, raising global reporting demands

    Mar 18, 2010Labels: United States, FATCA

    • Treasury FATCA

19. OECD approves Common Reporting Standard (CRS)

    Jul 15, 2014Labels: OECD, Common Reporting

    • OECD CRS

20. Panama Papers leak drives public and regulatory scrutiny

    Apr 3, 2016Labels: Panama Papers, Illicit finance

    • ICIJ Blog

21. Caribbean offshore centers pivot toward “compliance-based” competitiveness

    Jan 1, 2020Labels: Caribbean offshore, compliance-based model

    • OECD Forum
    • FATF History