Two For the Price of One

He hails from the birth place of Aphrodite. He owns property in Folkestone via the British Virgin Islands and Loizos Shakallis is very camera shy. Loizos ran a company called Filonia Estates Limited until the 13th Dec 2016, when it went into voluntary liquidation.

Loizos gave his service address for Filonia as 19 Halkidos 6031 Larnaca Cyprus; which also just happens to turn up in the Panama Papers as does he.

84 Sandgate Road (pictured) is owned by Homesco Ltd a company based in the British Virgin Islands, and Loizos Shakallis is a shareholder along with Formia Limited. The Company along with Loizos is linked to the UAE and Cyprus and ultimately to 84 Sandgate Road Folkestone Kent CT20 2AA.  Loizos and Formia paid £467,500 for the property.

Both Loizos and Homesco Ltd appear in the Panama Papers.

There are benefits for owning property offshore in the British Virgin Islands and one of them is ownership remains confidential.

The British Virgin Islands is also the largest single source of foreign ownership of UK property.

It is one of the most favoured destinations for many properties owned offshore in Shepway. So far we have discovered that 40% of all Shepway properties owned in offshore tax havens are owned in the British Virgin Islands.

Loizos Shakallis described himself as a businessman to Companies House and further investigations shows that he was a former past president of the Famagusta Chamber of Commerce & Industry (pg 11 & 13) Cyprus.

Famagusta according to the Daily Telegraph remains to this day a ghost town.

Loizos is an Non-Executive Independent Director of K Kythreotis Holdings Public Ltd; which is a Cyprus-based company principally engaged in the production and supply of sand and gravel for use in the construction industry.

So Loizos Shakallis is a busy man.

A further irony of 84 Sandgate Road is that BetFred who either lease or rent the ground floor, are themselves based offshore in Gibraltar; which has  a population of Ramsgate and over 60,000 companies registered there which means there as twice as many companies as inhabitants.

Betfred are not alone in using Gibraltar as a offshore a lot of other bookmakers in our towns and cities across the UK do so as well.

Betfred recently received a penalty package (2016) of  over £800,000 from the Gambling Commision

So that’s how you you get two offshore companies situated in the same building, both of them avoiding tax; which some estimate at not less than £18.5 billion annually.

We are sure that this money could help nurses, firemen, policeman and other public sector workers with a well deserved pay rise, we personally think they deserve.

The Shepwayvox Team

There are legitimate uses for offshore companies and trusts. We do not intend to suggest or imply that any persons, companies or other entities included in this blog post have broken the law or otherwise acted improperly unless found so by a court of law.