With a new crackdown on tax havens by the Group of 20 leading economies, the rationale for moving money offshore is no longer straightforward.

Off shore financial centres have never had it so bad. Reeling from the financial crisis and targeted by the world's most powerful governments for aiding tax evasion, their future is uncertain. Wealthy individuals with money off shore are questioning the wisdom of keeping it there as domestic authorities crack down on tax avoidance and overturn bank secrecy laws.