Page:2020-07-29 PSI Staff Report - The Art Industry and U.S. Policies that Undermine Sanctions.pdf/69

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specific prices for creating documents in the United Kingdom and the British Virgin Islands are as follows:[1]

Document Price by Jurisdiction Cost
(in Euros)
United Kingdom
Certificate of Incorporation 273.00
Memorandum and Articles of Incorporation 273.00
Certificate of Good Standing 78.00
Nominee Shareholders Declaration 296.00
Nominee Directors Declaration 296.00
Share Certificate 296.00
Contract Creation From 1200
Contract Review From 150
Document Creation 75.00
Document/Contract/Instruction Signing 15.00
Legalization of Documents 191.00
Power of Attorney 345.00
British Virgin Islands
Certificate of Incorporation 340.00
Memorandum and Articles of Incorporation 340.00
Certificate of Tax Exemption 440.00
Certificate of Good Standing 446.00
Certificate of Incumbency 446.00
Nominee Shareholders Declaration 296.00
Nominee Directors Declaration 296.00
Share Certificate 296.00
Contract Creation From 1200
Contract Review From 150
Document Creation 75.00
Document/Contract/Instruction Signing 15.00
Legalization of Documents 300.00
Power of Attorney 345.00
Certificate of Legal Validity 1,155.00

In April 2016, The London Times reported that, according to the Panama Papers, Arkady and Boris Rotenberg used the Markom Group to set up a number offshore companies.[2] The news article included a quote from Mr. Omelnitski who


  1. Id.
  2. Sean O'Neil & Tom Parfitt, How Putin’s cronies moved millions around the world, London Times (Apr. 5, 2016), https://www.thetimes.co.uk/article/how-putins-cronies-moved-millions-around-theworld-bcgjh9vr.

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