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Africa’s Wealthiest woman and the Isle of Man


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8 minutes ago, enbee said:

Maybe not. She didn't get very far, no bank account etc.

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The Times today gives more detail: -

"Ms Dos Santos was put in charge of the struggling Sonangol in 2016 by the presidential decree of her father, José Eduardo dos Santos, whose regime became a byword for authoritarianism, corruption and nepotism. But when he retired as president in September 2017 she was quickly sacked.

Details of the family’s property portfolio in London highlight the issue of fortunes linked to allegedly corrupt regimes flowing into the city. Ms Dos Santos bought a house in Kensington, west London, for £8.65 million without a mortgage in 2007 via an anonymous company registered on the Isle of Man. The property website Zoopla estimates its present worth at £13.3 million."

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1 hour ago, Derek Flint said:

Every time “in the Isle of Man” is mentioned in matters such as these, then regardless of whether we have done the right thing, reputational damage is done. 

That is totally correct. It won’t matter what the actual specifics of the case are in relation to the IOMs involvement because we’ll just be made to look bad anyway. Why wouldn’t a foreign domiciled person buy a house in London via an IOM company in 2017? It was legally the most tax efficient way of making sure that they won’t pay UK inheritance taxes on UK domiciled assets at the time. But the focus will be on the “anonymous” company that isn’t anonymous anymore as it’s owner will be recorded on the register of beneficial ownership. 

Edited by thesultanofsheight
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