Pandora Papers leak

When are shell companies legal, and when are they not?

The line blurs when they are set up to hide transactions that may be illegal: Expert

Asiaciti Trust, a Singapore-based offshore services provider, has been in the public eye since the biggest trove of offshore data on the world's richest and most powerful people was leaked earlier this month.

According to the International Consortium of Investigative Journalists (ICIJ), the organisation that received the leaked documents dubbed the Pandora Papers, Asiaciti helped hundreds of clients across the world set up and manage trusts and shell companies in secrecy jurisdictions.

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A version of this article appeared in the print edition of The Straits Times on October 14, 2021, with the headline 'When are shell companies legal, and when are they not?'. Subscribe