Panama Forum

panamajames
Joined 2012
Posts: 5096

6 years ago

Paradise Papers

6 years ago

Yes, it is bigger than the Panama Papers.

According to the media that have collaborated in this investigation, it is the largest leak of documents from tax havens in history and has a relevance "even more important than the Panama Papers", which were revealed in April 2016.

Queen Elizabeth II of England, the president of Colombia, Juan Manuel Santos, and the singers Bono and Madonna are among the 127 international persons linked to companies in tax havens, according to a journalistic investigation released today in several media.

The research, developed by the International Consortium of Investigative Journalism (ICIJ) and called "Papeles del Paraíso", has been carried out by 382 journalists from almost 100 media outlets that have analyzed more than 13 million documents from "opaque territories". "and cover a period of 70 years (1950-2016).

The documents come from a leak of documents from the law firm Appleby and Asiatici Trust, received by the newspaper Süddeutsche Zeitung, from 19 jurisdictions listed on the list of OECD tax havens: Antigua and Barbuda, Aruba, Bahamas, Barbados , Bermuda, Cayman, Cook Islands, Dominica, Grenada, Labuan, Lebanon, Malta, Marshall Islands, Saint Kitts and Nevis, Saint Lucia, Saint Vincent, Samoa, Trinidad and Tobago and Vanuatu.

Among the public figures related to tax havens, according to ICIJ information, would be Isabel II, Juan Manuel Santos, the Secretary of State for Trade of the United States, Wilbur Ross, the former German Chancellor Gerhard Schröder or Stephen Bronfman, fundraiser of the election campaign of the Canadian Prime Minister, Justin Trudeau, among others.

According to the data released by the ICIJ, the Queen of England has a "private income that comes mainly" from Lancaster, "Duchy who invested 7.5 million dollars in the company Dover Street VI Cayman Fund LP in 2005."

The duchy of Lancaster received in 2008 around 360,000 dollars of this investment, a fund that went to a development company involved in the technology of fingerprints for mobile telephones, to pharmaceutical companies and high technology, according to the information disclosed today.

In the case of Juan Manuel Santos, the Colombian president appears as "director of two offshore (extraterritorial) companies based in Barbados, a tax shelter in the Caribbean."

The American singer Madonna, shareholder, according to the disclosed data, of a "medical supplies company in Bermuda" registered in 1997 and dissolved in 2013, and the leader of the Irish band U2, Bono, as shareholder, also appear in the list revealed today. of a company registered in Malta (2006-2014), owner of a shopping center in Lithuania.

Participating in this news event you will find, The Spanish, La Sexta and El Confidencial, and, internationally, The New York Times, BBC, The Guardian, La Nación and Le Monde.

Allianz Care

Flexible solutions allow you to tailor your cover to meet your needs and budget. Use Promocode: LIFE10 and get 10% off your international health insurance for life!
Get Quote

Allianz Care

Flexible solutions allow you to tailor your cover to meet your needs and budget. Use Promocode: LIFE10 and get 10% off your international health insurance for life!
Get Quote

Living in Panama Guide

Our Guide to Living in Panama is a perfect primer for readers interested in Panama. Covers healthcare, cost of living, best places to live, residency, visas, real estate, moving tips and the pros and cons of living in Panama.

Panama Forum
Join our Panama forum to meet other expats and talk about living in Panama.

Contribute
Help other expats and newcomers by answering questions about the challenges and adventures of living in Panama.

Best Places to Live in Panama

If you're dreaming about living in Panama, here are the 15 Best Places to Live in Panama in 2023.

Healthcare in Panama

Expats have differing opinions about healthcare in Panama. Many advice against public hospitals and healthcare, but some recount good experiences. This article covers public vs private healthcare, cost of healthcare, obtaining prescription medications and much more.

Cost of Living in Panama

Expats in Panama enjoy a relatively low cost of living. However, it's important to do your research to make sure you'll actually enjoy those saving while creating a high quality of life as an expat in Panama.

Moving to Panama Guide

Do you have to buy a round trip ticket when moving to Panama? How difficult is it to bring my dog? Should I buy a home in Panama? Can I find health

Real Estate in Panama

Real estate listings in popular cities and towns in Panama.

Pros & Cons of Living in Panama

Take off your rose-colored glasses and learn what expats have to say about the biggest challenges and the greatest rewards of living in Panama.

Retiring in Panama

Advice for people retiring in Panama.

Panama Visa & Residency Guide

This article covers the ins and outs of the most common tourist and residency visas that expats and global nomads obtain when moving to and living in Panama.

10 Tips for Living in Panama

If you've recently arrived in Panama, here are 10 tips for digital nomads living in Panama.

Additional Information:

Visit our Panama Index for a Full List

Allianz Care

Flexible solutions allow you to tailor your cover to meet your needs and budget. Use Promocode: LIFE10 and get 10% off your international health insurance for life!
Get Quote

Allianz Care

Flexible solutions allow you to tailor your cover to meet your needs and budget. Use Promocode: LIFE10 and get 10% off your international health insurance for life!
Get Quote

Contribute
Help others in Panama by answering questions about the challenges and adventures of living in Panama.