Financial Secrecy Index

The Tax Justice Network’s Financial Secrecy Index highlights places around the world that provide (relatively) safe havens for tax evaders. The index was calculated in 2015 and includes data from 92 countries and territories. By ranking jurisdictions according to both their secrecy, and the scale of their activities, the organization aims to provide a ranking of them in terms of financial secrecy and ability to evade taxes.

Financial Secrecy Index, 2015

Ninety-two countries and territories were included in the 2015 Financial Secrecy Index.

Rank	Country or territory	FSI Value	Secrecy Score	Global Scale Weight
1	Switzerland	1,466.1	73	5.625
2	Hong Kong	1,259.4	72	3.842
3	USA	1,254.7	60	19.603
4	Singapore	1,147.1	69	4.280
5	Cayman Islands	1,013.1	65	4.857
6	Luxembourg	816.9	55	11.630
7	Lebanon	760.2	79	0.377
8	Germany	701.8	56	6.026
9	Bahrain	471.3	74	0.164
10	United Arab Emirates (Dubai)	440.7	77	0.085
11	Macao	420.1	70	0.188
12	Japan	418.3	58	1.062
13	Panama	415.6	72	0.132
14	Marshall Islands	405.5	79	0.053
15	United Kingdom	380.2	41	17.394
16	Jersey	354.0	65	0.216
17	Guernsey	339.3	64	0.231
18	Malaysia (Labuan)	338.7	75	0.050
19	Turkey	320.9	64	0.182
20	China	312.1	54	0.743
21	British Virgin Islands	307.6	60	0.281
22	Barbados	298.3	78	0.024
23	Mauritius	297.0	72	0.049
24	Austria	295.3	54	0.692
25	Bahamas	273.0	79	0.017
26	Brazil	263.6	52	0.678
27	Malta	260.9	50	0.990
28	Uruguay	255.5	71	0.037
29	Canada	251.7	46	1.785
30	Russia	243.2	54	0.397
31	France	241.9	43	3.104
32	Isle of Man	228.5	64	0.068
33	Liberia	218.2	83	0.006
34	Bermuda	217.7	66	0.042
35	Cyprus	213.9	50	0.518
36	Liechtenstein	202.3	76	0.010
37	Ireland	187.4	40	2.313
38	Belgium	181.2	41	1.863
39	Guatemala	177.1	76	0.007
40	Israel	173.7	53	0.166
41	Netherlands	168.3	48	0.322
42	Chile	166.6	54	0.120
43	Saudi Arabia	163.8	61	0.037
44	Australia	148.0	43	0.586
45	India	148.0	39	1.487
46	Philippines	146.0	63	0.020
47	Vanuatu	142.8	87	0.001
48	Ghana	139.1	67	0.010
49	Korea	124.2	44	0.302
50	US Virgin Islands	118.2	69	0.004
51	Samoa	117.5	86	0.001
52	Mexico	117.0	45	0.211
53	Norway	110.6	38	0.731
54	New Zealand	109.3	46	0.129
55	Gibraltar	109.3	67	0.005
56	Sweden	100.8	36	1.006
57	Aruba	99.5	68	0.003
58	Italy	98.6	35	1.218
59	Latvia	92.7	45	0.113
60	Belize	92.4	79	0.001
61	South Africa	90.8	42	0.203
62	Botswana	90.5	71	0.002
63	Anguilla	89.3	69	0.002
64	Saint Vincent and the Grenadines	79.6	78	0.000
65	Antigua & Barbuda	79.5	81	0.000
66	Spain	77.4	33	1.090
67	Costa Rica	74.9	55	0.010
68	Turks and Caicos Islands	72.4	71	0.001
69	Saint Kitts and Nevis	68.4	78	0.000
70	Curacao	67.8	68	0.001
71	Iceland	67.1	46	0.035
72	Seychelles	60.8	71	0.000
73	Slovakia	60.1	50	0.011
74	Macedonia	59.5	66	0.001
75	Poland	57.2	36	0.172
76	Monaco	53.6	74	0.000
77	Estonia	52.9	44	0.023
78	Portugal (Madeira)	52.5	39	0.063
79	Saint Lucia	51.6	83	0.000
80	Brunei	47.4	83	0.000
81	Czech Republic	44.2	35	0.105
82	Grenada	42.1	76	0.000
83	Denmark	38.2	31	0.219
84	Hungary	37.3	36	0.052
85	Greece	37.2	36	0.046
86	San Marino	33.2	70	0.000
87	Andorra	27.3	77	0.000
88	Slovenia	22.4	34	0.019
89	Dominica†	21.3	76	0.000
90	Finland	19.4	31	0.025
91	Cook Islands	17.8	76	0.000
92	Montserrat	10.8	67	0.000

  United Kingdom, Crown Dependencies, and British Overseas Territories

  Independent countries (plus one associated state) under the jurisdiction of the Judicial Committee of the Privy Council^†

^† Dominica abandoned the JCPC in March 2015

See also

• List of offshore financial centres
• List of Non-Cooperative Countries or Territories (FATF Blacklist)
• List of company registers