---
title: "HEIDELBERG ASSOCIATION LTD. — Ownership Dossier"
canonical: https://whiteintel.dev/entity/a8cd896f-cbf2-5bb5-98bc-d145d9eff35a
json: https://whiteintel.dev/api/public/dossier/a8cd896f-cbf2-5bb5-98bc-d145d9eff35a
identifier: icij:icijol-197612
jurisdiction: VG
risk: Medium
source: WhiteIntel corporate-ownership graph
---

# HEIDELBERG ASSOCIATION LTD.

**Type:** Company  
**Jurisdiction:** [VG](https://whiteintel.dev/jurisdictions/vg)  
**Identifier:** `icij:icijol-197612`  
**Risk level:** Medium  
**Canonical dossier:** https://whiteintel.dev/entity/a8cd896f-cbf2-5bb5-98bc-d145d9eff35a  
**Structured JSON / MCP:** https://whiteintel.dev/api/public/dossier/a8cd896f-cbf2-5bb5-98bc-d145d9eff35a  

## Ownership & control

### Owners / controllers

- **Ariadna Holdings Ltd.** (shareholder of) — https://whiteintel.dev/entity/8ed142c9-87f9-5a95-8bd7-bf0af7b5f441
- **Mr. Vasily Naumenko** (shareholder of) — https://whiteintel.dev/entity/24f8d834-51ec-548c-bf42-495a4a5cd0a3

### UBO chain (walk to the ultimate owner)

A **4-step** ownership/control chain to the ultimate beneficial owner is resolved for this entity. The full cited chain unlocks with a paid API key or a one-off dossier — https://whiteintel.dev/pricing.

## Exposure (derived from the ownership graph)

**2** owners upstream in this entity's ownership/control chain are flagged — a sanctions hit or a secrecy jurisdiction — an investigative lead by resolved identity, not a legal determination. The contributing parties and the hop-by-hop path unlock with a paid API key or a one-off dossier — https://whiteintel.dev/pricing.

## Provenance

- ICIJ Offshore Leaks — https://offshoreleaks.icij.org/nodes/197612

---

_This is the markdown-for-agents view of the WhiteIntel dossier for **HEIDELBERG ASSOCIATION LTD.**. Human view: https://whiteintel.dev/entity/a8cd896f-cbf2-5bb5-98bc-d145d9eff35a · Structured JSON: https://whiteintel.dev/api/public/dossier/a8cd896f-cbf2-5bb5-98bc-d145d9eff35a._

_Risk levels are heuristic investigative leads, not legal determinations of beneficial ownership. Every claim carries a source; an absent edge means "not yet observed in current sources", not "does not exist"._