Have you ever wondered how rich and powerful hide their wealth on offshore accounts? The Pandora Papers leak provide meaningful insight into secret deals and hidden assets. This leak is the biggest in history: 11.9 million files and 2.8 terabyte of data.
First of all you need to understand what’s offshore company. In simple words it’s a tax heaven where rich (and not so rich) hide thier money from tax authorities. In tax heavens everything is simple. No one ask where this money from and who are you. In offshore countries available companies that help fellow business owners to register easy and under the
List of top 15 tax heavens (order could be different in different sources):
- British Virgin Islands.
- Taiwan /Hong Kong (different sources claim it).
- Cayman Islands.
- Marshall Islands.
In Pandora Papers mentioned many influential names including:
Full list of names leaked in the Pandora Papers now available in the Wikipedia. I’ve made screenshots and this is already impressive. The Pandora Papers include emails, records, corporate structure diagrams, etc. 11.9 million of files was leaked to the International Consortium of Investigative Journalists (Washington).
It’s not illegal to setup or use offshore entities but tax avoidance is illegal. And when someone is using a shell company incorporated somewhere on Bahamas or Panama, that’s definitely for tax avoidance.
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