Chapter 405: Chapter 405: Cayman’s Real Money Isn't in Casinos
****
January 8.
The entire Cayman Island was ablaze with festive lights, exuding an air of celebration.
At 8:08 PM, fireworks lit up the sky, marking the official start of the Cayman Island opening ceremony. Two battleships fired a total of 36 gun salutes, adding to the grandeur of the event.
Hardy took the stage first, delivering a welcoming speech before the festivities continued with lively performances.
By 9 o'clock, the island was bustling. Some guests flocked to the casino, while others strolled through the luxury shopping street. Despite the modest number of tourists, just over 10,000, most were affluent individuals.
Princess Margaret and Audrey Hepburn crossed paths, with Margaret taking a liking to Hepburn. The two women indulged in a shopping spree. While the casino was a domain for men, the shopping street was clearly a woman's paradise.
The island was free from disturbances, allowing everyone to fully enjoy their freedom. Many guests were so engrossed in the festivities that they lost track of time.
At 11 o'clock in the evening, Princess Margaret discreetly boarded a car that took her to Hardy's luxurious yacht. The vessel set sail, and in the master bedroom, Princess Margaret's cries of pleasure were heard as the yacht ventured into the night.
The following day, many guests woke up around noon to a special announcement. In the afternoon, an economic and business exhibition was held at the island's exhibition center, attracting numerous prominent business figures.
Hardy had planned for this event meticulously. His goal was not only to entertain but also to provide lucrative opportunities for visitors.
In the exhibition hall, the first lecture was delivered by an economist who explained how offshore tax avoidance policies could benefit enterprises. The room was packed with industry leaders, more prominent than those attending a national economic conference.
On stage, the economist elaborated on the benefits of tax avoidance. "You are all successful businesspeople. Have you ever considered the advantages of offshore companies? These companies can help you avoid taxes legally."
The economist illustrated his points with a diagram on the blackboard, comparing tax rates for foreign companies, American companies, and Cayman companies. He detailed how exporting goods through Cayman companies could lower overall tax burdens due to favorable rates and reduced personal income taxes.
The audience was captivated. The concept of legal tax avoidance was new to many, and the potential savings were significant.
The economist continued, "Cayman is currently the world's only true tax haven. There are no taxes here. Cayman companies can be listed freely in the U.S. and U.K. and enjoy complete confidentiality."
He highlighted the ease of starting a company in Cayman, with minimal fees and no personal income, corporate, inheritance, or trust taxes.
The audience was intrigued, contemplating the substantial savings from relocating or opening branches in Cayman.
In another part of the exhibition, another economist discussed managing family trust funds. "Family trust funds are crucial for long-term wealth preservation. Professional management ensures that the trust fund remains sustainable."
The benefits of using Cayman's trust services were outlined, emphasizing how it could shield assets from divorce settlements and other personal risks.
The third exhibition hall featured banks and investment projects. Banks like Wells Fargo showcased global investment opportunities, appealing to individuals who were unfamiliar with investment strategies.
One attendee remarked, "I saw that Cayman membership cards cost $15,000 annually. While it seems expensive, the benefits are clear. Not only can you enjoy the island's amenities, but it also provides significant financial advantages. In the future, this could become a premier club for the global elite."
Another guest calculated potential earnings: "If Cayman has 10,000 members, that's $150 million annually. With 100,000 members, it's $1.5 billion."
The realization of such revenue from membership fees was staggering. Even with potential reductions for top patrons, the figures were astronomical compared to casino earnings or tax-free shopping.
After the grand opening, despite many guests leaving after three days, thousands remained on the island, enjoying its services. The number of companies establishing themselves on Cayman Island grew as more recognized the benefits of offshore business.
Hardy departed Cayman, spending a few days in the U.S. before traveling to the U.K. to attend the Viscount ceremony.
The British royal family conducts a canonization ceremony annually. Hardy's canonization was a formal one, as he was being awarded the title of Viscount of Penang and Malacca. This ceremony was part of a larger event honoring over twenty individuals, including two British cabinet ministers and one peer inheriting a duke title.
Princess Elizabeth, not King George VI due to his impending death, conducted the ceremony. She placed the sword on Hardy's shoulder, and he took the oath. Thus, Hardy officially became a British hereditary viscount, establishing his legal status in Penang and Malacca. While symbolic, this recognition carried significant weight.
Weekly Power Status
-- Power
Ranking 
-- Power
stone