Hong Kong is the leading low-tax jurisdiction in which to establish a subsidiary
Top ten low-tax jurisdictions where the top MNCs locate subsidiaries
| Rank | Subsidiary country | Count |
|---|---|---|
| 1 | Hong Kong | 4,159 |
| 2 | Cayman Islands | 2,104 |
| 3 | British Virgin Islands | 1,201 |
| 4 | Bermuda | 893 |
| 5 | Jersey | 653 |
| 6 | Mauritius | 564 |
| 7 | Panama | 375 |
| 8 | Bahamas | 160 |
| 9 | Isle of Man | 133 |
| 10 | Monaco | 63 |
