Bermuda offshore.

So here we have the Bermudian dollar, nominal - 1. The year of issue of this coin is 1996, mint: Llantrisant, UK. Total circulation – 5.000. The coin commemorates the 70th anniversary of the birth of Elizabeth II.

Bermuda is an offshore financial centre, which results from its minimal standards of business regulation/laws and direct taxation on personal or corporate income. It has one of the highest consumption taxes in the world and taxes all imports in lieu of an income tax system.

Bermuda's consumption tax is equivalent to local income tax to local residents and funds government and infrastructure expenditures. The local tax system depends upon import duties, payroll taxes and consumption taxes. Foreign private individuals cannot easily open bank accounts or subscribe to mobile phone or internet services.

Having no corporate income tax, Bermuda is a popular tax avoidance location. Google, for example, is known to have shifted over $10 billion in revenue to its Bermuda subsidiary utilising the Double Irish and Dutch Sandwich tax avoidance strategies, reducing its 2011 tax liability by $2 billion.