Offshore Leaks Database is the name of the Consortium database where offshore companies and their shareholders can be tracked
The search for companies in tax havens and their beneficiaries with updated information from Pandora Papers is now available at the base of the International Consortium of Investigative Journalists (ICIJ).
Today at 10 in the morning, the ICIJ updated its search engine Offshore Leaks Database with more than 15,000 companies that were mediated by the Panamanian law firm Alemán Cordero, Galindo and Lee (Alcogal) and Fidelity Corporate Services Limited, based in the British Virgin Islands.
The public tool allows anyone to know shareholders and beneficiaries of companies, foundations and trusts offshore and It is considered the largest database of this type as it contains a total of 800 thousand entities. These are added to those already included in the search engine and related to five other investigations by the Consortium, such as the Panama Papers and the Bahamas Leaks.
The creation or management documents of the companies are not made public, but the names of their shareholders, the intermediaries who helped create them and the final beneficiaries behind each one are made public, as long as this information exists.
The Pandora Papers leak, published since last October 3, comes from fourteen intermediaries and the ICIJ will continue to update the information in its database in the coming weeks. The Pandora contains a total of almost 12 million documents on structures created in tax havens that the Consortium shared with more than 150 communication media in the world, among them EL UNIVERSO newspaper.
A society offshore it is legal as long as the owner declares it to the tax authorities of the country in which he resides. These companies benefit from low taxation, anonymity, and the absence of account or beneficial ownership records from the jurisdictions where they are registered. Hence the importance of this public database created by the ICIJ. (I)
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