Bermuda

British Overseas Territory in the North Atlantic, roughly 650 miles off the coast of North Carolina, operating a common law system with final appeal to the Privy Council. Insurance and reinsurance dominate the economy in a way they do nowhere else offshore.

Its fund business is narrower than the Caribbean domiciles and sits close to that insurance market, with insurance-linked securities and catastrophe structures the distinctive work. Bermuda has no central bank. The Authority issues the currency itself alongside supervising the industry.