Binance UK shares a utility closet with 2,403 other companies in Suffolk.
One of the largest cryptocurrency exchanges in the world, Binance, has a registered address in the United Kingdom that is actually a small building in the east of the country. This building is shared by thousands of other companies, including Binance Ltd, which uses a “utility closet” as its registered office address. This tactic is often used by other large companies and tech firms. Binance Ltd’s address is located in the small town of Mildenhall in Suffolk county, England. According to Google Maps, the site is a small, nondescript garage building on the outskirts of the town, about an hour and a half’s drive from London. Companies House, the government’s company registrar, shows that Binance Ltd shares this address with 2,403 active companies. In reality, the address is the site of a company called OfficeServ, which provides virtual registered address services to businesses.
Binance Ltd is registered to provide “other service activities not elsewhere classified” and has around six entities in Britain across various addresses, registered to provide IT and financial services. Technology companies have been using virtual “shell” addresses all over the world and in the United States for years. These addresses are used for a variety of reasons, including privacy, obscuring patent filings, or registering a business in a corporate tax haven. One notable example is the Corporation Trust Company, the world’s largest registered agent service firm used by thousands of firms, including well-known companies such as Google, Walmart, Coca-Cola, and Apple. It operates from a similarly nondescript brick building in Delaware.
Wyoming Corporate Services is another firm that was exposed in a 2011 Reuters exposé. It was said to be a “brick house” in a “sleepy city” and home to 2,000 registered companies at the time. Binance has not yet responded to requests for more information on its entity.
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