Paradise Papers leak reveals Queen’s offshore investments

London, November 6 : Millions of pounds from the private estate of Britain’s Queen Elizabeth II have been invested in offshore tax haven funds, a huge new leak of financial documents have revealed, but the monarch’s estate managers defended the investments by calling them “fully” legitimate.
The 91-year-old monarch’s investments appear among a series of high-profile names to feature in the Paradise Papers, a leak of 13.4 million files from two offshore service providers and the company registries of 19 tax havens.
The Duchy of Lancaster, which provides the Queen with an income, held funds in the Cayman Islands and Bermuda – British overseas territories with no corporation tax and at the centre of the offshore financial industry.A small amount from the funds ended up in the company behind BrightHouse, a chain accused of irresponsible lending, and retail chain Threshers, which went bust owing 17.5 million pounds in UK tax.
A spokesperson for the Duchy of Lancaster said: “We operate a number of investments and a few of these are with overseas funds. All of our investments are fully audited and legitimate.