NEW: The #PandoraPapers show how billions of dollars are being poured into real estate by the rich and famous, whose ownership is obscured by shell companies, trusts, and other offshore entities — fueling inequality and driving up prices around the world. bit.ly/3bFy2oB
Some of the most high profile cases to emerge from the #PandoraPapers involve offshore real estate transactions, including Jordanian King Abdullah’s luxury properties valued at $100 million, and outgoing Czech PM Andrej Babis’ secret French chateau.
bit.ly/3bFy2oB
Why are officials, celebrities, oligarchs and other elites scooping up real estate via offshore vehicles? By purchasing properties through a shell company, buyers can secure tax breaks and hide their identities from law enforcement, creditors & the public. bit.ly/3bFy2oB
In the U.K. alone, the #PandoraPapers reveal the beneficial owners of an estimated $5 billion of property, much of it in London, where more than 36,000 properties are owned through offshore companies. bit.ly/2ZUZk8a
But the #PandoraPapers show money being poured into real estate beyond the expected luxury real estate hotspots of London or Miami. We found dairy farms in Tasmania, a German nursing home and rental homes in US suburbs bought through offshore entities.
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👉 You can explore nine case studies from the #PandoraPapers from all over the world, showing the diverse range of property transactions happening offshore — and unveiling the secret owners and investors behind them. bit.ly/3EKjfVU
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