A little house of secrets on the Great Plains

| 29/06/2011

(Reuters): The secretive business havens of Cyprus and the Cayman Islands face a potent rival: Cheyenne, Wyoming. At a single address in this sleepy city of 60,000 people, more than 2,000 companies are registered. The building, 2710 Thomes Avenue, isn't a shimmering skyscraper filled with A-list corporations. It's a 1,700-square-foot brick house with a manicured lawn, a few blocks from the State Capitol. Neighbors say they see little activity there besides regular mail deliveries and a woman who steps outside for smoke breaks. Inside, however, the walls of the main room are covered floor to ceiling with numbered mailboxes labeled as corporate "suites."

A bulky copy machine sits inthe kitchen. In the living room, a woman in a headset answers calls and sorts bushels of mail.

A Reuters investigation has found the house at 2710 Thomes Avenue serves as a little Cayman Island on the Great Plains. It is the headquarters for Wyoming Corporate Services, a business-incorporation specialist that establishes firms which can be used as "shell" companies, paper entities able to hide assets.

Wyoming Corporate Services will help clients create a company, and more: set up a bank account for it; add a lawyer as a corporate director to invoke attorney-client privilege; even appoint stand-in directors and officers as high as CEO. Among its offerings is a variety of shell known as a "shelf" company, which comes with years of regulatory filings behind it, lending a greater feeling of solidity.

"A corporation is a legal person created by state statute that can be used as a fall guy, a servant, a good friend or a decoy," the company's website boasts. "A person you control… yet cannot be held accountable for its actions. Imagine the possibilities!"

Category: Finance

Comments (2)

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  1. Anonymous says:

    Wow, some one should report this to the US regulators and President Obama! LOL

    • Anonymous says:

      Wow please be quiet, you are giving away too many of the US secrets. I mean surely the great USA does not deal with dishonest matters such as this. Surely the USA sorted out their own matters before being the bull on the block.

      Welcome to the small fish in a big pond idea. The Cayman Islands is competing against the super powers and they go and paint the picture of the great dishonest cayman islands and ignore their own. This has happened so many times in the past it is a joke.