Wednesday, March 26, 2014

offshore structures fronted by nominees, of which Russians are particularly fond

http://www.economist.com/news/briefing/21599408-london-has-more-lose-most-when-it-comes-scaring-oligarchs-honey-trapped

The number of properties registered to Russians understates the true total by failing to capture offshore structures fronted by nominees, of which Russians are particularly fond. Britain’s offshore satellites, in particular the British Virgin Islands, known for their secretive shell companies, do well out of this. A leading BVI lawyer says that Russian clients make up 15-20% of his business. Only the Chinese are as active. The lawyer notes that business from Russians is up slightly in recent weeks.

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