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Shakira is one of the many Latino celebrities to utlitize tax havens according to the Pandora Papers. Photo: Bloomberg
Shakira is one of the many Latino celebrities to utlitize tax havens according to the Pandora Papers. Photo: Bloomberg

Latinos in the Pandora Papers

Hundreds of personalities have created shell companies in countries such as Panama, the British Virgin Islands or The Bahamas to avoid paying taxes.

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The Pandora Papers have revealed how hundreds of the richest and most powerful people in the world have used shell companies in tax havens to avoid paying taxes. The information, gathered over two years by the International Consortium of Investigative Journalists, consists of confidential documents from 14 law firms created by these companies in countries such as Panama, the British Virgin Islands or The Bahamas.

AL DÍA has collected the stories of some of the Latinos that appear on the list.

Luis Miguel

In 2013, the Mexican singer bought a 25-meter yacht, Sky, with four cabins and a capacity for eight passengers. The paparazzi chased him for years because there were so many parties on board the ship. Turns out, the singer turned created a shell company in the British Virgin Islands to acquire it.

Together with his brother and the Trident law firm, he formed the company Skyfall Marine Limited. Luis Miguel owns 50,000 shares of that company of which he is also the sole owner. His brother, Alejandro Gallego, is listed as the company's secretary and director. With this financial itinerary and had it not been for the Pandora Papers drop, it would've been possible to hide who the owner of the yacht.

Chayanne

Chayanne, whose real name is Elmer Figueroa, also used an offshore company to avoid tax payments. In his case, he founded Fentress International SA, a Panamanian company which he charged for his performances anywhere in the world. He created it in 2001 when he had already made it big on the Argentine soap opera Provocame and songs like "Candela" and "Lo deja todo."

In Florida, he created another company, Eloisa Investments LLC, also through an office in Panama. His wife, Marina Elizabeth Figueroa, and his sister-in-law, Anna Maronese, are listed as directors. With that company, the Puerto Rican artist acquired an apartment in Miami valued at $500,000.

Shakira

The singer is one of the best clients at the same Panamanian office used by Chayanne. Spain was already investigating her for the companies she created in Panama because the tax agency considers them essential for her alleged tax fraud in the European country. These are three companies: Light Productions Limited, Light Tours Limited and Titania Management Inc.

The representatives of the Colombian artist assure that these companies were dissolved in 2019. Spain accuses her of defrauding 14.5 million euros in taxes. Shakira already made an extra payment of 20 million euros to regularize her situation a few years ago in Spain. Her team justifies her holdings in tax havens as "a purely operational and commercial matter."

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