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    Question

    Consider the following statements: 1.  Cayman

    Islands recent exit from the FATF grey list 2.  Cayman Islands is a French Overseas Territory located in the Western Caribbean Sea 3.  Cayman Islands considered a tax haven because the Caymans do not impose a corporate tax. Which of the statements given above is/are correct?
    A 1 and 2 Correct Answer Incorrect Answer
    B 2 only Correct Answer Incorrect Answer
    C 1 and 3 Correct Answer Incorrect Answer
    D 2 and 3 Correct Answer Incorrect Answer

    Solution

    Cayman Islands’ recent exit from the FATF grey list is expected to bolster global private equity funds looking to invest in non-banking financial companies (NBFCs) based in India. The Cayman Islands is a British Overseas Territory located in the Western Caribbean Sea They are considered a tax haven because the Caymans do not impose a corporate tax, making it an ideal place for multinational corporations to base subsidiary entities to shield some or all of their incomes from taxation.

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