Tuesday, May 31, 2016

How can a businessman bribe his way into Africa?

How can a businessman bribe his way into Africa? Find out in an offshore adventure!

Welcome to the secret world of offshore. Your goal is to navigate this parallel universe and hide your cash away. Don’t worry! Lawyers, wealth managers and bankers are there to help you.

Edmund von Kronen
Business Executive

You’re a successful business executive.
You made your reputation in real estate but are now eyeing opportunities for new ventures. Your gaze falls on Africa, where there appears to be a fortune literally waiting to be dug up… After all, how hard could running a mining company be?
Unfortunately, your lack of experience in the industry could work against you when it comes to winning an exploration permit.
You’ve heard that bribing a head of state could help influence the permit process. But how will you go about transferring a large amount of money without leaving a trace?
Use cash
Use an offshore company

You register the company MINERAL ADVENTURES LLC in Delaware.
The head of state you are negotiating with guarantees you that you will be granted the exploration permit once the “special payment” is processed. To make sure the terms of the agreement are clear, he asks you to sign a document that details the exchange.
You accept
You refuse

You negotiate and convince him to forget about the signed document. Your ”special payment” is accepted with a handshake, and your signature is nowhere near the bribe.
You now have to decide how to pay the bribe without getting caught by international authorities. You could make the president a shareholder in your new mining company, Mineral Adventures. Or you could transfer the money through a series of third-party offshore companies – a process called escrow.
Use escrow
Give shares

The law firm handling Mineral Adventures’ business agrees to help route the money in such a way that it will be nearly impossible to link the “special payment” back to your company.
You are in the middle of negotiating the technicalities of the cash transfer when an associate of yours is arrested on an unrelated matter. The law firm gets spooked by the unexpected legal attention to your businesses and no longer wants to be associated with you in any way. They send you an email resigning as registered agent for Mineral Adventures.
Call them and negotiate
Take your business elsewhere

You decide to create a new company called SECOND CHANCE in Panama and find a new registered agent to help.
Your new law firm – which needs to check your identity to comply with “Know Your Client" (KYC) or due diligence rules, asks to see a copy of your passport.
Hand over a copy of your passport
You refuse

You send a copy of your passport, hoping the new registered agent won’t find out about the arrest of your associate.
Unfortunately, the arrest was too juicy for the press to ignore, and a few searches on the Internet easily reveal the links between you and your associate. The law firm refuses to do business with you.
Call them and negotiate

You win.
It worked! With your expert business negotiation skills and the promise of more fees, you convince your registered agent to keep doing business with you. The company helps with the money transfer, and you become the proud owner of the exploration permit n°AFR9082. You can commence operations – and start making more money – in no time!
Play with another character

Source: https://panamapapers.icij.org/stairway_tax_heaven_game/

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