People Don't Live In Delaware. But They Keep Their Money There.


Its beaches don't compare with those of Bermuda or the Cayman Islands. You can't ski there. But the most boring state in the union is best damned tax shelter on earth.
The First State is finally first at something else, according to the Tax Justice Network. It's the best place for non-Americans to hide from their taxmen, earning the august moniker, "most secretive financial jurisdiction."
The equally insignificant Grand Duchy of Luxembourg placed in tax-haven sweepstakes, with odds-on favorite Switzerland finishing a distant third. The Cayman Islands and the U.K. followed the Swiss.

So just how much money did people make disappear behind the Mason-Dixon Line? Well, the TJN didn't specify exactly. But non-residents deposited $2.6 trillion in the U.S. in 2007, up from just $1 trillion six years earlier, most of it likely in Vice President Joe Biden's home state, making Wilmington--a city that is little more than a large collection of Mail Boxes Etcs.--a financial center on par with London and Hong Kong.
Leading economies blamed for fiscal secrecy [FT]
Tax Justice Network