Paradise Papers reveal Pop star Shakira transfered 31mn euros to firm

London, Nov 8: Pop star Shakira's name has surfaced in the Paradise Papers documents in connection with a Maltese company to which she reportedly transferred over 31 million euros in musical assets and intellectual property.

The "Waka Waka" singer owns a company named Tournesol Limited, based on the island of Malta, which she runs as a "sole shareholder" and as a resident of Bahamas, reported El Confidential website citing the Revelation in the Paradise Papers.

The singer is alleged to have moved 30 million euros in rights to "musical assets, intellectual property and trademarks" to Tournesol Limited from another company, which was based in Luxemburg.

The Paradise Papers relate to an investigation into offshore and banking assets of individuals and entities carried out by the International Consortium of Investigative Journalists (ICIJ) which worked with 95 media partners globally for the investigation, including the El Confidential. Shakira currently lives in Barcelona with her footballer boyfriend Gerard Pique.

Shakira's lawyer Ezequiel Camerini said, "As an international artist she has resided at different locations throughout her professional career and, in every case, has fully met the laws of all the jurisdictions where she has resided."

He also clarified that the Maltese company abides by all legal law required to operate. "The Maltese company Tournesol Limited fulfils all legal requirements to operate as such. All of the corresponding information relative to this entity is public and transparent," Camerini said.

PTI