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  • Friday, March 03, 2006

    Who owns Scotland?

    This is an interesting article, from the Sunday Herald:

    At first glance Buccleuch Estates Ltd appears to be a conventional limited company with directors and shareholders. But the Duke of Buccleuch owns only two out of the 132,000 shares in the company.

    The twist, which hides the true identity of the ultimate owners and helps them legitimately avoid paying excessive taxes, is a nominee company that owns almost all of Buccleuch Estates Limited.

    Anderson Strathern Nominees Ltd, a company whose total paid-up share value is £4 and whose shareholders are four Edinburgh lawyers, has been dormant since its incorporation in May 1992. It owns 99.7% of Buccleuch Estates Limited, a company with assets and turnover of tens of millions of pounds.

    Anderson Strathern Nominees Ltd is exactly what it says on the tin – a nominee company, a skeleton that does no trading except to do things at the behest of others.

    See all recent "A Logical Voice" posts

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