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Escapeartist.com has a great post on all the obscure tax havens of the world. Of note, the author points out that Bermuda has taken many steps to curb its reputation as American tax-dodgin place of incorporation:

Bermuda: This British overseas territory off the coast of North Carolina used to be dubbed the “Cadillac” of offshore banking. It catered to lots of high-dollar Yanks and Brits with a high degree of financial privacy. Its three respected banks have worldwide branches and investment services, especially since the Bank of Bermuda was taken over by HSBC. But Bermuda has greatly diminished its haven status by signing a TIEA with the U.S., by making foreign income tax evasion a local crime, and by curbing its former financial privacy laws. Of equal concern, as a U.K. colony, it takes orders from London. However, this mid-Atlantic island still is the world’s leading place for captive self-insurance companies used by businesses and for reinsurance. It offers excellent asset protection trusts as well as IBCs.

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