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 financ e as a development option. Although the Jersey model can not be copied precisely by other SIEs, the key factors of political stability, mini mal regulation, secrecy, low tax, proximity to a large developed econo my and basic communication links could allow certain islands to host O FCs. The benefits of hosting an OFC outweigh the costs, and the increa sing global offshore market indicates potential income generation for some OFCs located near the emerging supraregional blocs.