Author Archives: Mike

New US Treasury Secretary asked for tax haven problem decision

The new nominee of Trump administration for Treasury Secretary, Steve Mnuchin, was asked by Senate about his intention to close down Caribbean tax havens. Members of the US Senate requested details of how it is expected to close the tax … Continue reading

Posted in BVI Companies, Money Laundering, Offshore investment schemes, Offshore tax havens, Tax avoidance, Tax Shelters | Leave a comment

Advisory Warning published on XMAXBIT

The BVI Financial Services Commission has published an Advisory Warning about the entity naming itself XMAXBIT and presenting itself as being registered and incorporated in the British Virgin Islands whilst presenting a false certificate of incorporation through a website at … Continue reading

Posted in Unlicensed offshore services | Leave a comment

BVI FSC published Advisory Warning on Intercruise Recruitment Agency Ltd

The BVI FSC has published an Advisory Warning, informing the public about the entity named Intercruise Recruitment Agency Ltd, which presented itself as being registered and incorporated in the British Virgin Islands while having a false certificate of incorporation. The … Continue reading

Posted in Unlicensed offshore services | Leave a comment

BVI arm of Mossack Fonseca fined by BVI FSC

The British Virgin Islands Financial Services Commission has fined Mossack Fonseca & Co (BVI) Limited for US$440,000, the largest amount ever issued by the FSC, for the contravention of the Anti-Money Laundering and Terrorist Financing Code of Practice and BVI … Continue reading

Posted in BVI Companies, BVI Government, Investigation | Leave a comment

BVI-owned hotel’s placed on liquidation and put on sale

The Scotsman Hotel in Edinburgh, the five-star hotel with 150 staff was placed into liquidation in July 2016, after HM Revenue & Customs filed a winding up order against owners of JJW Hotels. In the beginning of July, JJW Hotel … Continue reading

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Polo Resources’ investee company published arbitration update

Polo Resources Limited, the natural resources investment company based in the British Virgin Islands, announced that its 33.2 per cent investee company Celamin Holdings NL issued an update concerning the resolution of the dispute between its wholly owned subsidiary Celamin … Continue reading

Posted in Court decisions, Litigation | Leave a comment

BVI company’s shareholders request for liquidation process

Following the announcement of the troubled oil and gas company Xcite Energy Limited on discussing the deal after which creditors would take under control 98.5% of its share capital, the principal shareholders moved to company’s liquidation. Being not satisfied with … Continue reading

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Pakistan requesting information from BVI and some other countries authorities

Finance Minister of Pakistan has requested the Federal Board of Revenue (FBR) to seek information in the Panama and Bahamas leaks. Pakistan will ask for information from the tax authorities of nine jurisdictions, including British Virgin Islands, the Bahamas, Jersey, … Continue reading

Posted in Offshore tax havens, Tax avoidance, Tax Shelters | Leave a comment

Advisory Warning about IFX Investment House issued by the Commission

The British Virgin Islands Financial Services Commission has published an Advisory Warning concerning the entity named IFX Investment House Ltd., offering online trading and other forex related products and services through the website located at www.tradecoveries.com. The company falsely presented … Continue reading

Posted in Unethical business practice, Unlicensed offshore services | Leave a comment

Sable Mining announces proposed cancellation of AIM trading

For BVI-registered Sable Mining Africa Limited, trading on AIM London Stock Exchange for ordinary shares of no par value has been temporarily suspended from September 14, pursuant to AIM Rule 1. The company announced that some factors including political instability, … Continue reading

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