Ugland House

Ugland House, located in George Town, Cayman Islands, serves as the headquarters for the law firm Maples and Calder and is the registered office for around 40,000 entities, including major investment funds and international ventures. The building gained notoriety when U.S. President Barack Obama labeled it 'the biggest tax scam in the world' during his campaign, prompting investigations into the nature of the companies registered there. A report by the U.S. Government Accountability Office revealed that 95% of these entities are not wholly owned by U.S. persons, highlighting the Cayman Islands' appeal for international finance due to its stable legal system and regulatory sophistication. The building is a significant player in global business, with U.S. government agencies utilizing it for various financial activities, including aircraft financing.