The Brexit has been a point and separate in the corporate operations of BlackRock. As anticipated by ABC, the world’s largest fund manager – more than 6 trillion dollars in assets – was forced in 2018 to redesign its business structure in the European Union because of October 2019 Calendar PDF. But the exchange of cards did not stop there. He took advantage of the share modifications to place two companies in the Cayman Islands as intermediaries of the dividends obtained for their activity in the Old Continent. The system developed by the main investor of the Ibex 35 – some 18,000 million euros in portfolio – starts in the markets of each country. In most of the community territories it acts under the formula of branches. At the end of 2017, these permanent establishments depended on a company in the United Kingdom -BlackRock Investment Management (UK) Limited-; from 2018, bound by the Brexit, he fixed in the Netherlands his new center of operations in the company BlackRock (Netherlands) B.V. In both cases, these companies receive all the billing of their subsidiaries.
October 2019 Calendar PDF
Under its “modus operandi” until 2018, the profits distributed went in the form of dividends to another British company, BlackRock Group Limited, its final parent company in Europe. This is where its fabric linked to tax havens appeared (according to the list that Spain handles). The latter company diverted its dividends to BR Jersey International Holdings LP, registered in Jersey, a territory dependent on the British Crown but not belonging to the EU. Between the last five years, about 2,330 million pounds.
After that, the benefits that they estimated to distribute each year ended in Delaware (United States), where BlackRock has its headquarters worldwide. An operation in which the manager already passed part of its profits distributed by a territory where the dividends are taxed at 0%. At present, the panorama includes notable changes. As of 2018, BlackRock acts in the EU through the Netherlands and relegates BlackRock Investment Management (UK) Limited to a second plane. The company in the Netherlands is now owned by the British October 2019 Calendar PDF Finance Europe Limited and is, in turn, owned by BlackRock Group Limited. The parent company in Europe continues to be the same as in previous years, but the dividends that it distributes in the future will not go directly to Jersey, but will pass before an intermediate step.