Pandora Papers: they reveal the framework of Julio Iglesias to acquire land in "the bunker of the rich"

Spanish singer Julio Iglesias used five companies located in the tax haven of the British Virgin Islands to acquire properties on the island of Miami Indian creek, also known as the “bunker of the rich”. According to research Pandora Papers, the 78-year-old musician is also linked to fifteen other companies, all managed by Trident Trust, a law firm specialized in the registration of offshore structures.

Iglesias shares ownership of 16 of those firms with his wife, Dutch Miranda Rijnsburger. The other four companies are only in your name.

The current value of the homes acquired by Iglesias, according to the official Miami-Dade County registry, amounts to $ 112 million. The dynamic For the purchase of the Indian Creek land, the researchers traced, it is often repeated: First a limited company is founded in a tax haven and then, through it, the land is purchased. On this exclusive island, a 7,400-square-meter undeveloped lot is valued at $ 25 million.

According to Forbes estimates, Iglesias has a fortune of 800 million euros. Some of the offshore companies he founded date back to the 1990s.

According to his representative Juan Velasco, the musician has not had a tax residence in Spain since 1978. Although it is known that at least until 2018 he resided in the Dominican Republic, his lawyers have not wanted to comment on this information and have not confirmed his current residence. “I have never stopped paying a damn tax anywhere in the world, where I sing, I pay my taxes,” Iglesias told journalist Jordi Évole in an interview in 2015.

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Iglesias was one of the first Spanish artists who decided to move his residence to Miami, as did Alejandro Sanz and later Rosalía.

Indian Creek, the “bunker” of the rich

Indian Creek is an island north of Miami Beach with access to the Atlantic and Biscayne Bay. It overlooks the skyline of the city center and has a private police system that controls the passage by land and sea. The place, which only houses mansions – it does not have stores, hotels or supermarkets – has been included among the most expensive in the United States.

The island was the focus of media attention in December 2020, when Donald Trump resisted admitting defeat in the presidential elections while his daughter Ivanka Trump and his son-in-law Jared kushner they reorganized their patrimony. One of Iglesias’ vacant lots was sold to the famous couple for the price of $ 32,179,000., as reported by the US press, although the property registers still do not publish the name of the last owner of that land.

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