Kenya: Anonymous Shell Companies – No Questions Asked
Where’s the easiest place in the world to set up an untraceable shell company? According to research by a group of academics the answer is Kenya. East Africa’s biggest economy tops a list of places in which incorporation agents are least likely to ask questions about the ownership of shell companies – groups which serve as a vehicle for business transactions, without active operations or meaningful assets.
In a study of 3,700 incorporation agents over 182 countries, Kenya emerged as the nation in which agents were least likely to ask for proper identification. High quality global journalism requires investment. Kenya emerged as the nation in which agents were least likely to ask for proper identification.
For the most part, the report found that it was easier to establish anonymous shell companies in OECD countries than their developing counterparts. But Kenya isn’t the only African nation to feature high up the rankings – Ghana is listed as the fifth easiest place in which to do so.