The BVI, China’s new tax haven

The Caymans are so 1990s:
China’s princelings storing riches in Caribbean offshore haven
Relatives of political leaders including China’s current president and former premier named in trove of leaked documents from the British Virgin Islands

The disclosure of China’s use of secretive financial structures is the latest revelation from “Offshore Secrets”, a two-year reporting effort led by theInternational Consortium of Investigative Journalists (ICIJ), which obtained more than 200 gigabytes of leaked financial data from two companies in the British Virgin Islands, and shared the information with the Guardian and other international news outlets.

In all, the ICIJ data reveals more than 21,000 clients from mainland China and Hong Kong have made use of offshore havens in the Caribbean, adding to mounting scrutiny of the wealth and power amassed by family members of the country’s inner circle.

Inner circle indeed. Go to link above to read the names of the people involved.

Of course, there’s no disclosure required from party leaders, so, who knows?

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3 Responses to “The BVI, China’s new tax haven”

  1. sch Says:

    ICIJ site appears to be redacted heavily. No text only
    a large collection of little squares.

  2. Fausta Says:

    I can see the ICIJ site with no problem, sch.

  3. Kermit Says:

    It’s also popular with U.S. companies.