The Inverness Courier today reported that the Qatari royal family has bought the 544 acre Eileen Aigas & Ruttle Wood estate in Inverness-shire. it was sold to a company called GoldenRod Ltd. registered in Jersey in September 2015 for £7 million.
Goldenrod Ltd. is owned by OH Securities Ltd. and R&H Investments Ltd. both registered in Jersey. Those companies are both owned by R&H Trust Co. (Jersey) Ltd. which itself is owned by OH Securities Ltd. and R&H Investments Ltd. plus a third – Woodbourne Nominees Ltd. which is also owned by the company (R&H Trust Co. (Jersey) Ltd.) which owns it.
This opaque ownership structure means that it is impossible to verify who the beneficial owner of the company is although the same opaque structure was used to acquire the Cluny Estate in Inverness-shire last year – see previous blog on topic.
Whether such secrecy is a satisfactory state of affairs is in sharp focus right now as the Land Reform (Scotland) Bill is scrutinised at Stage 2 in the Scottish Parliament and amendments will be tabled to either make such ownership structures illegal or to require that the beneficial ownership is revealed. Whether those amendments succeed or not will be down to MSPs to decide. See here and here for background.