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Similar business practice take place in other part of the world. For example, many businesses in Hong Kong are registered in Bermuda for some reasons. Perhaps Bermudian companies and their shareholder equities are allowed to vanish due to their proximity to the [Bermuda Triangle]?. |
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A similar strategy is used for financial institutions. Many U.S. States have laws limiting the amount of interest a corporation can charge, but Federal law allows corporations to 'import' these laws from their home state. Delaware (amongst others) has relatively lax interest laws, hence the preponderance of [credit card]? companies in the state. Similar business practice take place in other part of the world. For example, many businesses in Hong Kong are registered in Bermuda for some reasons. |
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