SEVENTEEN companies located in Alicante Province are registered to have their headquarters offshore in Panama.
Five of these are in Alicante and another three in Torrevieja. These companies can be used simply to accumulate wealth, but often have other purposes, such as buying stocks or diverting personal benefits, with the ultimate goal of avoiding paying taxes.
Their offshore activities have been revealed in the ‘Panama Papers,’ which has seen a database, revealing over 200,000 offshore entities, published by the International Consortium of Investigative Journalists.
More than 370 reporters in nearly 80 countries probed the files for a year.
Their investigations uncovered the secret offshore holdings of 12 world leaders, more than 128 other politicians as well as fraudsters, drug traffickers and other criminals, whose companies had been blacklisted elsewhere.
It took the UK’s Prime Minister David Cameron three days to publicly acknowledge he had profited from an investment fund, created by his father, that was incorporated in Panama.
In Spain a minister was forced to resign, following lies about his connections to offshore accounts.