30.Jun .2021 22:00

TI Study: Offshore Companies Affiliated with Bidzina Ivanishvili

TI Study: Offshore Companies Affiliated with Bidzina Ivanishvili
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In October 2018, Transparency International Georgia published a study on offshore companies related to Bidzina Ivanishvili, according to which at least 9 offshore companies were associated with the billionaire and the former Prime Minister of Georgia.
 
For the latest study of TI, published on June 29, 2021 two more offshore companies affiliated with Bidzina Ivanishvili were identified. The representative of these companies is Kakha Kobiashvili (who, according to media reports, is Ivanishvili's nephew and his other business partners. Bidzina Ivanishvili has also been mentioned in the Panama Papers published by the International Consortium of Investigative Journalists in April 2016.

According to TI, the following offshore companies are allegedly affiliated with Bidzina Ivanishvili:
 
Finseck Limited (British Virgin Islands), which owns 4 companies in Georgia: Express Service LLC, Leasing Twenty-first LLC, Hazelnut Development and Processing Company LLC, Complex-Service LLC;
 
Vanity Overseas (British Virgin Islands), which owns 2 companies in Georgia: Mada LLC, Aqua Center LLC;
 
Gilmar Holding (Belize), which owns 2 companies in Georgia: Holding Twenty-first LLC, Georgian Holding LLC;
 
Krista Investments Limited (British Virgin Islands), which owns 1 company in Georgia: Agro Cartu Research and Production Center for Seed and Planting Materials LLC;
 
Ringold Finance Limited (British Virgin Islands), which owns 2 companies in Georgia: Horizon LLC, New Service LLC;
 
Limestone Finance International SA (Panama), which owns 7 companies in Georgia: New Capital LLC, Coast View LLC, Cartu Consulting LLC, Abastumani 2019 LLC, Geofert LLC, Black Sea Arena LLC and Invest Capital LLC;
 
Fresno Management Limited (Belize), which owns 3 companies in Georgia: Inter Consulting + LLC, Cartu Management LLC, Cartu Mshenebeli LLC;
 
Vasilia Enterprises (Belize), which owns 2 companies in Georgia: Finservice-XXI LLC, Fin-Service LLC;
 
Tarpan Management Limited (British Virgin Islands), which owns 2 companies in Georgia: Inter-Service LLC, Management Service LLC;

Frankston International (Panama), which owns 1 company in Georgia: GCF Holdings Georgia LLC (co-investment fund);
 
Brightstone Finance Limited (British Virgin Islands), which owns 1 company in Georgia: Eurasian Invest LLC (Poti Free Industrial Zone).