TREASURE ISLANDS OR FOOLS GOLD - CAN AND SHOULD SMALL ISLAND ECONOMIES COPY JERSEY

The Jersey island Offshore Finance Center (OFC) model may be used for other small island economies (SIEs) wishing to exploit offshore finance as a development option. Although the Jersey model can not be copied precisely by other SIEs, the key factors of political stability, minimal regulation, secrecy, low tax, proximity to a large developed economy and basic communication links could allow certain islands to host OFCs. The benefits of hosting an OFC outweigh the costs, and the increasing global offshore market indicates potential income generation for some OFCs located near the emerging supraregional blocs.