‘Land Registry documents reveal that the overwhelming majority of those who have decided to buy [apartments] in One Hyde Park hail from overseas and have used offshore companies to buy their new homes. Of the 56 properties registered so far, all but a handful have been sold to companies based in offshore tax havens, including Guernsey, the Isle of Man, Liberia, Belize, St Vincent & Grenadines, the Bahamas, the Cayman Islands, Liechtenstein and the British Virgin Islands ...
‘It is virtually impossible to find out who is behind many of these companies ... The shadowy offshore vehicles may be a tax dodge. By buying anonymously, investors can avoid scrutiny from the tax authorities in their home countries. Buyers can also avoid almost all tax in Britain ... If future sales at One Hyde Park are made by offshore firms and tax exiles, the future loss to the Treasury could amount to hundreds of millions of pounds – from a single building.’
‘Land Registry documents reveal that the overwhelming majority of those who have decided to buy [apartments] in One Hyde Park hail from overseas and have used offshore companies to buy their new homes. Of the 56 properties registered so far, all but a handful have been sold to companies based in offshore tax havens, including Guernsey, the Isle of Man, Liberia, Belize, St Vincent & Grenadines, the Bahamas, the Cayman Islands, Liechtenstein and the British Virgin Islands ...
‘It is virtually impossible to find out who is behind many of these companies ... The shadowy offshore vehicles may be a tax dodge. By buying anonymously, investors can avoid scrutiny from the tax authorities in their home countries. Buyers can also avoid almost all tax in Britain ... If future sales at One Hyde Park are made by offshore firms and tax exiles, the future loss to the Treasury could amount to hundreds of millions of pounds – from a single building.’
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