2016 is coming to an end. This year has certainly been an eventful one—we have witnessed several document leaks revealing the closely guarded secrets of the offshore world, and a divisive election where the issue of tax avoidance and offshore loopholes were highlighted by both campaigns.
In April, the Panama Papers gave us 14.5 million documents exposing the offshore dealings of the ultra-wealthy, transnational criminals, multinational companies, and even world leaders. One question often asked when the documents were released “where are the Americans?” the answer simply is that Americans don’t need to go abroad to set up anonymous shell companies. It is, unfortunately, much easier for Americans to set them up onshore—in states like Nevada, Wyoming, and Delaware.