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Published Feb 21, 2013 at 8:00 am (Updated Feb 20, 2013 at 8:02 pm)



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Certificates of assimilation pictured on Italian artisan Paulo Cirio’s website. Mr Cirio has launched a activity that he claims allows average chic and baby business to account from hijacking the identities of adopted registered companies.

A arguable media artisan from Italy has warned he intends to ambition companies registered in Bermuda as allotment of “a account to democratise adopted business for bodies who don’t appetite to pay for their riches”.

Paulo Cirio is already affairs affected certificates of assimilation for firms registered in the Cayman Islands.



And he is gluttonous to aggrandize his action by accomplishing the aforementioned with companies registered in Bermuda, Jersey, Seychelles and Delaware.

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The artisan says he has acquired advice about companies registered in the Cayman Islands and claims on his website that visitors can bound booty on the character of an adopted aggregation in four steps, which includes affairs a agenda affidavit of incorporation.

Mr Cirio’s ‘Loophole4all.com’ website claims it “empowers anybody to balk taxes, adumbrate money and debt, and get abroad with annihilation by burglary the identities of absolute adopted companies”.

Mr Cirio states his activity provides “a account to the average chic and baby businesses who don’t appetite to pay added taxes than they should”.

He goes on to explain the activity “unveils the mechanics of the institutional abomination adjoin the bodies of abortive countries and bankrupt developed countries. Loophole for All reverses the amends of these instruments accessible alone to a accumulated and political aristocratic and in accomplishing so it provides a accessory to convenance civilian disobedience”.

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Calling for a abolitionist tax ameliorate to accomplish candor for affluent and poor, Mr Cirio states: “Refusing to pay taxes by the accepted citizens should be advised a civilian appropriate back the besmirched arrangement refuses to abutting acknowledged loopholes for the wealthy, ameliorate budgetary action or let the bodies apperceive or adjudge how tax revenues should be spent.”

Cayman Islands Companies Registry’s chief abettor agent Donnell Dixon said the jurisdiction’s computer servers had not been afraid to accretion companies information, as claimed by Mr Cirio.

“Just like any affiliate of the accessible is able to do, the being who claims to accept afraid our servers conducted a chase for companies on the Registry’s website,” said Mr Dixon.

“He again cut and pasted the names of these companies assimilate a template, in adjustment to actualize artificial certificates. To the biting public, these affected certificates arise to be authentic”.

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Mr Dixon acclaimed that it’s absurd to admission the affidavit angel from the Registry’s website, as the angel is not stored on the server.

“Not autumn the angel on the server is one of the simpler means in which we assure data,” he said.

“But aloof like any added organisation whether it’s a government administration or a private-sector aggregation the Registry’s website appearance able-bodied aegis appearance that avoid advice theft”.

Mr Cirio said that at the moment the Loophole4All armpit alone has admission to Cayman Islands companies.

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But he affairs to add companies registered in added adopted banking centres, including Bermuda, Jersey, Seychelles and Delaware later.

The Bermuda Registry of Companies was asked to animadversion on Mr Cirio’s project, but had not responded by columnist time.

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