The Panama Papers: what you need to know

A short and concise guide to those wanting to know the basics of the Panama Papers controversy.

Greek Left Review

What is Mossack Fonseca, how big is it, and who uses offshore firms? Key questions about one of the biggest ever data leaks

5120Panama, where Mossack Fonseca is based. Photograph: DreamPictures/Getty Images/Tetra images RF

published at the Guardian
by Luke Harding

What is Mossack Fonseca?
It is a Panama-based law firm whose services include incorporating companies in offshore jurisdictions such as the British Virgin Islands. It administers offshore firms for a yearly fee. Other services include wealth management.

Where is it based?
The firm is Panamanian but runs a worldwide operation. Its website boasts of a global network with 600 people working in 42 countries. It has franchises around the world, where separately owned affiliates sign up new customers and have exclusive rights to use its brand. Mossack Fonseca operates in tax havens including Switzerland, Cyprus and the British Virgin Islands, and in the British crown dependencies Guernsey, Jersey and…

View original post 352 more words

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s