Pandora Papers: Shakira, Julio Iglesias, Chayanne Among Famous Spanish and Latino Artists to Use Tax Havens
Shakira, Julio Iglesias, Chayanne, Miguel Bose, and Alejandra Guzman were among the Spanish and Latino artists who appeared in the Pandora Papers.
Pandora Papers is a collaborative investigation done by the International Consortium of Investigative Journalists that has revealed over 11.9 million confidential documents from 14 offshore service providers worldwide.
The leak contains records from the 1970s to 2020, and it includes financial records of politicians, criminals, multi-millionaires, and famous artists, El Pais reported.
The investigation showed the hidden fortunes, covert deals, and secret assets of the rich and powerful. These individuals managed to reconstruct their financial records in countries considered to be tax havens due to the confidentiality and low taxation offered to citizens from other countries.
They have used opaque firms to buy mansions and manage their multi-million earnings.
Famous Spanish and Latino Artists in the Pandora Papers
Here are some of the Spanish and Latino artists who are among dozens of prominent personalities worldwide featured in the Pandora Papers:
Mexican musician Alejandra Guzman was known to be born into a family of movie and rock stars. She was previously at the center of public attention for her plastic surgery went wrong, which forced her into a series of hospitalizations and lawsuits over love triangles involving other celebrities.
The Pandora Papers indicate that the Latin rock star had purchased a luxury property through a shell company in the British Virgin Islands, known to be one of the world's most well-known tax havens.
Alejandra Guzman was reportedly the sole shareholder of Frida Enterprises Corp., a company created in the British Virgin Islands through Panamanian law firm Aleman, Cordero, Galindo & Lee.
She also acquired a penthouse in the Aria on the Bay development in 2018, which is a residential apartment building on the beachfront selling between $400,000 and $10 million.
While it is not illegal to have an offshore company, reports said the lack of transparency provides ground for tax evasion and even money laundering in many cases. El Pais reported that the Mexican singer does not appear in the published versions of the business register in the British Virgin Islands.
Chayanne was another Latino celebrity allegedly using an offshore company to avoid tax payments, Al Dia News reported.
According to the leaked documents, Elmer Figueroa, Chayanne's real name, created Fentress International SA, a Panamanian company, in 2001. He was getting paid under the company's name for his performances in any part of the world.
At that time, the Puerto Rican singer has already made it big on an Argentine soap opera and songs like "Candela."
The Latino artist created another company known as Eloisa Investments LLC in Florida also through an office in Panama. His wife and his sister-in-law were listed as directors. With the said company, Chayanne acquired an apartment in Miami worth $500,000.
According to the Pandora Papers, Julio Iglesias has invested in five properties on Indian Creek Island. It is a private island in Miami dubbed as the "Billionaire Bunker."
The property was estimated at $112 million. However, the Spanish singer's name was not listed on the property register as it was hidden behind five companies in the British Virgin Islands.
Pandora Papers further noted that Julio Iglesias is connected to 19 companies in the Caribbean archipelago that the law firm Trident Trust manages. The singer is listed as the sole owner of the four, while his wife is the director of the remaining 15.
Julio Iglesias also owns six more properties in Miami with a combined value of $4 million. Based on the Pandora Papers, the Spanish singer is among multi-millionaires with the highest number of offshore companies.
Miguel Bose is one of the Spanish celebrities featured in the Pandora Papers investigation.
According to BBC News, the Spanish singer is listed on the 2016 share certificates of an offshore company created in Switzerland, Dartley Finance, through a private banking entity. At that time, Miguel Bose resided in Panama.
Dartley Finance was a company with bearer shares, which supports the owner's anonymity as their names were not in the title deeds and any mercantile register.
The Pandora Papers noted that Miguel Bose holds 10,000 such shares in his name. The Spanish singer previously appeared on the Spanish Tax Agency's list of defaulters with over $2.07 million debt.
Shakira is listed as the director of three companies based in the British Virgin Islands between 1999 and 2002, namely Light Productions Limited, Light Tours Limited, and Titania Management Inc.
Spain's tax agency was probing the three companies under the Colombian singer-songwriter's name because the agency considers them essential for her alleged tax fraud in the European country.
Spain's tax agency accused the singer of defrauding €14.5 million in taxes. Shakira has already paid €20 million in an attempt to fix her tax situation.
Spanish authorities argued in their lawsuit that Shakira has been resident in Spain since 2012. But Shakira's legal team said she was a resident in the Bahamas, where she owns a property, and the Colombian singer's presence in Spain was "sporadic" until 2015.
Thus, her legal team noted that Shakira was not obliged to pay income tax in Spain. Her legal team added that having companies overseas is purely operative and commercial matters and in no way enjoys any fiscal advantage or benefit.
Other celebrities cited in the Pandora Papers were Elton John, Ringo Starr, and supermodel Claudia Schiffer.
This article is owned by Latin Post
Written by: Mary Webber
WATCH: 'Pandora Papers' Leak Exposes Secret Offshore Accounts of Politicians, Celebrities - From CBC News
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