I Set Up a Shell Corporation

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Like shock-waves from the Panama Papers continue to reverberate around the world, two B Team companies, Brazilian cosmetics company, Natura Cosmeticos, using the services of our partners Open Corporates, and global fast-moving consumer goods company, Unilever, are leading by example on corporate transparency. These days these two businesses revealed the facts of these company ownership in open, structured data.

See the full briefing or leap straight to the info for Natura or Unilever.

Organization ownership is oftentimes obscured by complex webs of anonymous layer companies, as highlighted by the Panama Papers. While appropriate, these private companies can be utilized for the money laundering, bribery, sanction avoidance, taxation evasion, and financing terrorism. At least these actions deprive governing bodies of necessary income to aid social systems like health care and knowledge. At their particular worst, they may be able end up as vehicles to finance tasks that can cause extreme man coping with assistance for harmful regimes or functions of terrorism.

Transparent business ownership which lowers corruption is also good-for company. It guarantees fair competitors in areas, decreases the costs of conformity and enables organizations to understand who they are doing business with, decreasing the danger of fraud, failed investments, and transactions with politically uncovered persons.

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