Appearing in recently released papers on Sunday are reports indicating that the highly revered public figure in Britain, Queen Elizabeth II has some money invested in tax havens offshore.
From the files researched in the keep of the International Consortium of Journalists, the investment managers of the queen had invested over $12 million in Bermuda and the Cayman Islands.
Reports also revealed that these investments were made in 2004 and also in 2005 by the financial manager of the Queen, the Duchy of Lancaster.
The said investor confirmed in a statement that a few of the investments are in foreign accounts and that every of the investment made was legitimate.
“A number of investments are being operated by us, and out of these a good number of it are with foreign funds. Every investment we’ve made have been audited fully and are fully legitimate” It stated.
A little over 300 pounds worth of investments were documented for BrightHouse, a retailer of household electronics and general goods who in time past has been accused of taking advantage of customers by charging them high rates.
Leaked records and documents
The fact that the Queen uses a tax haven may not rub off well on individuals who seek to terminate her monarchy to establish a republic.
Taxes are paid by the queen on all income gotten from her holdings with her financial manager. Vast assets are owned by her, of which includes expensive artworks, real estate, and jewelry. She also owns legally, a good number of the swans that go on about on the River Thames.
The documents concerning the financial business of the queen made up a part of the leaked records of some 13 million details exposed to newspapers in Germany and distributed by the Consortium of Journalists, and over 350 paid journalists in countries numbering 67.