---
title: "COMMERCE INVESTMENTS LIMITED — Ownership Dossier"
canonical: https://whiteintel.dev/entity/bc004e46-4f70-5628-be58-9b6ec899e398
json: https://whiteintel.dev/api/public/dossier/bc004e46-4f70-5628-be58-9b6ec899e398
identifier: icij:icijol-55059363
jurisdiction: MT
risk: High
source: WhiteIntel corporate-ownership graph
---

# COMMERCE INVESTMENTS LIMITED

**Type:** Company  
**Jurisdiction:** MT  
**Identifier:** `icij:icijol-55059363`  
**Risk level:** High  
**Canonical dossier:** https://whiteintel.dev/entity/bc004e46-4f70-5628-be58-9b6ec899e398  
**Structured JSON / MCP:** https://whiteintel.dev/api/public/dossier/bc004e46-4f70-5628-be58-9b6ec899e398  

## Ownership & control

### Owners / controllers

- **PER CARL NAUCKHOFF** (shareholder of) — https://whiteintel.dev/entity/5bf22b15-fe93-58d7-9886-5e695157c614
- **ROBERTO ARDAGNA** (shareholder of) — https://whiteintel.dev/entity/d89439e0-7475-55c3-976e-40afddd38703
- **ALESSANDRO FOGO** (shareholder of) — https://whiteintel.dev/entity/19a12fd7-2fe3-558b-9b1d-75c77dc0daca
- **RM HOLDINGS LIMITED** (shareholder of) — https://whiteintel.dev/entity/d6312371-50e6-5943-aa4f-9f338cdf6bee
- **LUIGI MARIA CHIARAVIGLIO** (shareholder of) — https://whiteintel.dev/entity/cf228f99-fce6-5b29-a3ab-3ac410f11069

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

A **8-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)

**3** 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/55059363

---

_This is the markdown-for-agents view of the WhiteIntel dossier for **COMMERCE INVESTMENTS LIMITED**. Human view: https://whiteintel.dev/entity/bc004e46-4f70-5628-be58-9b6ec899e398 · Structured JSON: https://whiteintel.dev/api/public/dossier/bc004e46-4f70-5628-be58-9b6ec899e398._

_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"._