MOSCOW, March 26 - RAPSI. The Supreme Commercial Court has sent for review a case that required the disclosure of an offshore company's details, the court told RAPSI on Tuesday.
The dispute involves a Moscow property owned by Arteks Corporation, a company registered in an offshore jurisdiction. However, as the company is involved in litigation in Russia, the court sought the disclosure of its ownership details.
As offshore jurisdictions never disclose or provide any information related to businesses registered there, the court cited this circumstance as a reason to doubt the bona fide actions of the company.
It is not prohibited by law to register an offshore company as a property owner, the court said.
However, the fact that the company cannot be ordered to disclose its beneficiary should not lead to the abuse of third parties' rights and interests. This suggests that, in this case, the offshore company will have to prove its case, the court said. It can do so by voluntarily disclosing its actual beneficiary.