Beneficial ownership
Virgin Islands resident and Necker Island owner Sir Richard Branson and six other celebrities and executives wrote an open letter to G20 leaders opposing “anonymous shell companies.” The letter, which was published in The Guardian newspaper on Nov. 13, asked G20 leaders to commit to common rules for collecting information about the ultimate beneficial owner of corporations registered in their countries.
“There is a way to help stop the corrupt and criminal from getting away with these acts: governments should collect the identity of the real, living people who ultimately own and control companies and other legal entities,” the letter stated. “This would make it harder for criminals to hide money in places like the United States and easier for law enforcement to track them down.” The letter did not state whether Sir Richard and his co-signatories felt the ownership information should be published in a public registry, something that the United Kingdom has pledged to do. The Virgin Islands and other specialist financial centres have mooted the idea of creating a central registry of the information but have resisted calls to make it available publicly.
Cuba trade show
The Caribbean Community’s regional trade promotion agency Caribbean Export attended a trade fair in Havana, Cuba from Nov. 2-8 in order to promote exports from Haiti and the Dominican Republic, the agency said. The Havana International Trade Fair included 4,500 exhibits from 65 countries, according to the agency. The Haiti-DR exhibit was part of a European Union-funded programme to encourage international trade between the two countries and other nations.
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