12. Japan
Japan began its role as a tax haven in 1986 when the so-called Japan Offshore Market was set up. It was a reaction to the rapid growth of offshore Euromarkets in London. Overall, it was an effort to attract foreign financial business by exempting it from tax and financial regulation.
In 1999, Japan launched special tax exemption for Japanese government bonds. And later on in 2007, for municipal bonds. Then tree years after that, the tax exemption was even widened to include corporate bonds.
Japan does not require the company ownership details and company accounts available for public inspections. And the company does not have to publish country-by-country financial reports either.
In addition to that, Japanese legislation does not require a minimum share capital at registration of a limited liability company. Company ownership details in Japan are not maintained in official record, therefore the confidentiality is assured.
