Cayman Islands Bain Capital: Tax Free Investing

In an interview with the National Review, political candidate Mitt Romney mentioned that the Bain Company in the Cayman Islands is a foreign investment in 138 sub-companies which allows those in the United States to invest in without paying taxes.

“The so-called offshore account in the Cayman Islands, for instance, is an account established by a U.S. firm to allow foreign investors to invest in U.S. enterprises and not be subject to taxes outside of their own jurisdiction,” Romney said. “So in many instances, the investments in something of that nature are brought back into the United States. Read More →