The biggest data leak in history, the “Panama Papers” has shone an even brighter light on the shady side of the luxury property industry, with many high profile global citizens being named and shamed for acquiring and holding real estate assets through extremely tax efficient and secretive structures – the vast majority of which are entirely legal and legitimate.
Of course much of this is not breaking news: money laundering and tax evasion blights have been in the spotlight for a long time – last summer brought headlines of £150bn-worth
- Khan launches ‘unprecedented’ inquiry into foreign home ownershipSeptember 29, 2016
- 9% jump in London properties owned by offshore firmsMay 27, 2016
- New York has it right on property market transparency – KhanApril 11, 2016