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Get Outta Here

For tax breaks and investment opportunities, sometimes you just have to leave the country.

This story appears in the July 2000 issue of Entrepreneur. Subscribe »

Twenty years ago, very few offshore financial centers existed, and those that did were surrounded by myths of drug money and illicit activities. Quite a bit has changed since then: Today, the offshore industry has developed into a major business that spans the globe. It even involves, in one way or another, half the world's financial transactions by value. In fact, $2 trillion flows through offshore centers every day.

Fact is, going offshore could very well be a viable financial strategy for many entrepreneurs-assuming you understand the ins and outs of the offshore world. You're not alone, however, if you're unsure about traversing the complicated waters to tax havens like the Cayman Islands, the Bahamas and Switzerland. The ride can get pretty murky out there, and the last thing you want to do is find yourself-not to mention your business-in a legal quagmire.

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