Paradise Papers: The Offshore Melody

The world stars in Paradise (Papers)
14.11.2017
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Paradise Papers that caused the new media exposure have revealed to the world the names of not only cunning officials, but also celebrities who do not use offshore schemes. Being a world star and having an offshore company is legal. No one will stop listening to Shakira because she does not pay taxes? Russiangate translated the investigation about the celebrities and picked up the relevant soundtracks.


SHAKIRA

Shakira Isabel Mebarak Ripoll used Malta to transfer $ 31 million she owns for music rights, Spanish El Confidential writes. Tournesol Limited was registered in 2007. She received the rights to “music assets, intellectual property rights and brands”.

Also, Shakira owns another company in Luxembourg – ACE Entertainment S.àr.l. It belongs to the Maltese offshore and manages the music assets. According to the Spanish media, the company was established in December 2007 in the middle of the Oral Fixation tour after the singer’s fifth album, Oral Fixation Vol. 2 (2005).


JUSTIN TIMBERLAKE

Justin “Sexy back” Timberlake owns companies in the Bahamas. In August 2015, Timberlake got a company in Delaware with a name similar to his label Tennman Records. According to Paradise Papers, Timberlake owns it solely, the accountant and manager of the Los Angeles company is Mike Dreyer. The documents say that the company's goal is to participate in buying real estate in the Bahamas. Four months later, the company also moved to the island jurisdiction.

Timberlake is the main partner in another company in the Bahamas – Nexus Luxury Collection. His companions are golfer Tiger Woods and financier Joe Lewis. One of the company's main assets is the 18-hole golf course in Albany, a spa community in the Bahamas.


MADONNA

Madonna, the well-known Material Girl is also mentioned in the Paradise Papers. In the Appleby, there is a document named Madonna, Ciccone. The company's address coincides with the Provident Financial Management’s office in Manhattan, which manages tours and live performances of the Queen of Pop.

The singer bought 2 thousand shares of SafeGard Medical Ltd in 1998. Why the medical company was registered in the tax haven, why Madonna sold the shares before the closure of SafeGard in 2013 is not known: the singer did not respond to journalists' requests.


BONO

The Guardian published a text about singer Bono. He owns the company called Estates, which was first registered in Malta, and then moved to Guernsey. It owns a shopping center in Utena in the north-east of Lithuania. The State Tax Inspectorate of the country stated that it had begun the control procedures with respect to the company. Probably, the frontman of U2 could underpay taxes on profits. Bono himself said that he was not aware of that: the company's management said that everything meets the tax requirements.

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