Category Archives: Offshore tax havens

BVI among countries named in new ‘Paradise Papers’ leak

In the end of last week the US-based International Consortium of Investigative Journalists (ICIJ), which released Panama Papers last year, made public the Paradise Papers, a leak containing over 13 million documents being sifted through by journalists in more than … Continue reading

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Capital Economics reports BVI companies allowing to avoid US$750mln tax

According to the new report by British company Capital Economics, the assets held offshore in the BVI jurisdiction are worth US$1.5 trillion, twice more than the 2010 statistics of the International Monetary Fund. Two thirds of the BVI-registered companies are … Continue reading

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BVI FSC issued information on the Terrorist-Asset-Freezing etc. Act 2010 Amendment Order

The British Virgin Islands Financial Services Commission issued Advisory Warning informing that The Terrorist-Asset-Freezing etc. Act 2010 (Overseas Territories) (Amendment) Order 2017 was ratified and extended to the British Virgin Islands on 8 March 2017. The Order amends the Terrorist … Continue reading

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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

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

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Group arrests in Barcelona for alleged money laundering through Cyprus and BVI

During the course of an operation against foreign criminal organizations involved in money laundering, eleven people were arrested by the police of Spain in Barcelona. These people, mostly Russians and Ukrainians, allegedly channeled money from the British Virgin Islands and … Continue reading

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BVI being jurisdiction of preference for Panama law firm

According to the journalist investigations, the BVI’s bearer share laws allowing to omit the names of beneficial owners were used as the British Virgin Islands became the main jurisdiction for corporate formation by the law firm Mossack and Fonseca. When … Continue reading

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BVI faces pressure in relation to Panama leaks

The information about more than 100,000 secret firms registered in the British Virgin Islands, leaked from the Panamanian company Mossack Fonseca, which has local office, has a great impact on the jurisdiction. According to the Bloomberg agency, BVI is now … Continue reading

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British Overseas Territories still playing great role in moving dubious assets

According to investigation newly carried by advocacy group Global Witness, British Overseas Territories, including BVI, can play an important role in facilitating movement of suspect funds into the United States. With a hidden camera, investigators met with 13 NY law … Continue reading

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BVI and other jurisdictions to lose money for the US

According to the article from Bloomberg Businessweek, by Jesse Drucker, the US is becoming the “leading tax and secrecy haven for rich foreigners”, as it remained one of a few countries not to have signed on to an international standards … Continue reading

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