King of Saudi Arabia
Salman bin Abdulaziz bin Abdulrahman Al Saud
British Virgin Island company used for mortgages on luxury homes in London and to hold yacht
Related to
Saudi ArabiaAbout
Salman bin Abdulaziz bin Abdulrahman Al Saud became King of Saudi Arabia in January 2015, assuming the throne after the death of his brother King Abdullah. He previously served as defense minister and deputy prime minister and was the governor of Riyadh, the country’s capital, from 1955 to 1960 and again from 1963 to 2011. He was named as heir to the throne in 2012.In the data
King Salman held an unspecific role in Luxembourg company Safason Corporation SPF S.A., which was the shareholder of Verse Development Corporation, incorporated in the British Virgin Islands in 1999, and Inrow Corporation, incorporated in 2002. Inrow took out a mortgage in 2009 worth up to $26 million and Verse took out a second mortgage worth more than $8 million both of which were for luxury homes in central London. While King Salman's precise role is not specified, both mortgages are mentioned "in relation to" him and his assets. King Salman was also described as "the principal user" of a motor yacht, Erga, named after the King’s palace in Riyadh, Saudi Arabia, and registered in London by the BVI company Crassus Limited, incorporated in 2004. The records of another BVI company, Park Property Limited, incorporated in 2005 and of which Safason Corporation was the sole shareholder, were kept at Erga Palace.Response
King Salman did not respond to repeated requests made through the Saudi Embassy in the United States for comment.
This visualization contains relevant information in relation to
the profiled individual. Some additional connections
might show up once we release the full structured data connected
to the Paradise Papers investigation in the coming weeks.