Panama, Paradise and Pandora Papers – can offshore havens still play a role?

The revelations from the Panama, Paradise and Pandora Papers have led to a significant cooling off of financial activities in offshore jurisdictions alongside continuing enforcement action.

The leaks exposed a vast network of hidden wealth, tax evasion, and financial secrecy involving prominent global figures and institutions. The scrutiny that followed has put immense pressure on these jurisdictions to enhance transparency and regulatory compliance.

Jonathan Fisher KC has written an opinion piece for FT Adviser reacting to the news:

“Today, there is increased scrutiny of the source of funds held by offshore companies, and additional regulation to ensure transparency in the beneficial ownership of company shares and trusts. The demand for transparency is not negotiable.”

Jonathan examines the important role that jurisdictions such as Panama and the British Virgin Islands continues to pay in the global economy and argues that there is a market for well-regulated offshore jurisdictions to operate, but only where individual and corporate clients play by the rules.

Read more: [Financial Times Adviser]

Jonathan is a leading King’s Counsel in Financial Crime, Proceeds of Crime, Fraud (Civil and Criminal), and Tax (Corporate and VAT) cases. Additionally, Jonathan Fisher KC holds a PhD from LSE where he will continue to teach LLM students as a Visiting Professor in Practice. More info here: [Jonathan Fisher KC Profile]