This round of leaks is somewhat less thrilling than those from Mossack Fonseca’s operations in Panama (although their name does come up) because the data uncovered is largely corporate registries, which contain only the basic components of offshore companies—name, date of creation, addresses in the Bahamas and, occasionally, the names of company directors. Indeed, much this information is available in person in Nassau, the Bahamas’ capital. But, those records are largely less complete than those in the leak and searching them incurs a $10 fee per company, which is a strong disincentive when dealing with large-scale inquiries.
Source: ‘Bahamas Papers’ Are Latest Chink in Offshore Armor
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David R. Duringer, JD, LL.M, is a concealed firearm instructor and tax lawyer specializing in business and estate planning; licensed to practice law in the states of California and Washington. He is managing shareholder at Protective Law Corporation, serving Southern California from its Laguna Hills (Orange County) headquarters and satellite offices in San Diego County (Coronado and Carlsbad).
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