The Irish press published information that Pat Cox, the former president of the European Parliament who can be nominated to the European Commission, is a director of an offshore company incorporated in the British Virgin Islands. His company Pat Cox Incorporated was set up in BVI in November 2007 and registered in February 2008 with an address in Blackrock, Co Dublin, Ireland.
The spokesman of Mr. Cox said that the BVI-based company has no offshore activities, having its bank accounts, paying wages and tax in Ireland.
According to spokesman, the BVI company was established by Mr Cox’s son, Patrick Cox, and its purpose was to allow the directors take loans from the company to use them for other businesses. However, there were no loans issued. The BVI company conducts research for clients and provides strategic advice to companies. Also, it has been involved in demographic analysis linked to the provision of advice on student accommodation needs in Eastern Europe. The ex-president of the European Parliament has done some presentations for Pat Cox Inc. as a consultant. According to BVI company’s filing in February 2008, he is one of the two directors of the company.
Mr. Cox is also a director of consulting company Capa Ltd., based in Cork and owned by him and his wife. At the end of 2008, this company was owed €3,600 from Pat Cox Incorporated.
Mr. Cox has positions in a number of multinational groups, including the Microsoft European Advisory Council, the Pfizer Europe Advisory Council, and the main board of Michelin. Mr. Cox is also the president of the International European Movement and is on the board of other international groups.