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In Norges Bank’s responses to the Supervisory Board, new information is revealed about Nicolai Tangen’s newly formed Kanita LLP company.
He created this company on the same day he was in practice, given the job of head of the fund, and which has branches in the Isle of Man tax haven.
On Tuesday Norges Bank did not respond to DN’s questions about Kanita LLP and the central bank knew about the Isle of Man ownership structure. before Pliers were hired.
Kanita LLP is a British company that registered on March 5, the same day that the Norges Bank Board of Directors authorized the appointment committee to appoint Tangen as the new head of the Petroleum Fund.
Tangen controls the company through a personal ownership stake. In addition, it owns Heliopause Ltd, a company registered on the Isle of Man. This company also controls Tangen, according to the report.
Nicolai Tangens sailboat «Nikita».
(Photo: Baltic Yacht)
The purpose of Kanita LLP is to own the Tang sailboat, the 33.47 meter long “Nikita”. Until recently, the sailboat was owned by Nikita LP Inc, on the Isle of Man, but was transferred to Kanita LLP.
The Isle of Man company Heliopause Ltd will be replaced by a new UK company, so Kanita will have no ties to the Isle of Man in the future, according to the report, so there should be no concern (“no concern “) that the sailboat is owned by an Isle of Man company.
The statement does not establish what will happen to Heliopause Ltd, that is, whether Tangen will remain the owner of this company, although it will no longer own Kanita LLP.
The “Nikita” crew is employed by the company Nikita Maritime Limited in the British Virgin Islands. This is a standard and administratively appropriate procedure, according to the report, but an investigation is underway into whether employees may be employees of another company.
Tangen ordered a new boat, a Windy 31 Zonda 33, in 2019, through the Isle of Man company Nikita LP Inc. Tangen will privately own this boat when he moves to Norway and starts working as head of the Petroleum Fund.
Property in Ako Capital
Tangen has managed the management company Ako Capital since 2005 from its London base. When he becomes head of the Petroleum Fund, he will leave the board and take over this company.
But he still wants a stake in Ako Capital through Ako Capital Management, which itself is owned by Ako Capital (Jersey) Ltd. This is something Norges Bank has basically said yes to. This resource will be managed by DNB, according to the report.
Tangen has informed DN that he will hand over his personal stake in Ako Capital to the charity Ako Foundation.
The pliers will also dissolve the Ako Trust in Jersey and transfer the assets here, including the Ako Investment Holdings company in the British Virgin Islands, to the charity.
All details about the new structure have not been clarified, according to the report. (Terms)Copyright Dagens Næringsliv AS and / or our suppliers. We want you to share our cases using a link, which links directly to our pages. Copying or any other use of all or part of the content may only be made with written permission or as permitted by law. For more terms see here.
