Around 400,000 offshore companies are registered in the British Virgin Islands, a volcanic archipelago in the Caribbean that remains a British overseas territory. Given that the country only has 30,000 inhabitants, it is quite the number. Most are black boxes, with no public register of their owners and no duty to publish accounts or pay taxes. Many hold property. Other are used to facilitate financial trades. Pretty much all have been established for two main purposes: to facilitate a tax advantage and to shroud financial details in secrecy. Owning and piping money through British Virgin Islands companies is legal. Yet,…

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