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Here's why 'Harry Potter's' Emma Watson has an offshore company listed in the Panama Papers

Emma Watson poses for photographers during the photocall for the film, "Regression," in Madrid, Spain.  A representative for Watson said on Wednesday that the "Harry Potter" actress had an offshore company for privacy reasons and not for tax benefits. The company, Falling Leaves Ltd., was named in the so-called Panama Papers, a series of leaked documents that detail how politicians and celebrities hide their wealth. [Associated Press]

Emma Watson poses for photographers during the photocall for the film, "Regression," in Madrid, Spain. A representative for Watson said on Wednesday that the "Harry Potter" actress had an offshore company for privacy reasons and not for tax benefits. The company, Falling Leaves Ltd., was named in the so-called Panama Papers, a series of leaked documents that detail how politicians and celebrities hide their wealth. [Associated Press]

NEW YORK — A representative for Harry Potter actor Emma Watson said she had an offshore company for privacy reasons only.

The company, Falling Leaves Ltd., was named in the so-called Panama Papers, a series of leaked documents that revealed how some politicians and celebrities hide money. More files were made available online Monday by the International Consortium of Investigative Journalists.

Watson, who portrayed Hermoine Granger in the Harry Potter films, created the company in the British Virgin Islands three years ago "for the sole purpose of protecting her anonymity and safety," the representative said.

"UK companies are required to publicly publish details of their shareholders and therefore do not give her the necessary anonymity required to protect her personal safety."

The spokesman said Watson received no monetary advantages from the offshore company.

Having an offshore account or company is not illegal, but they can be potentially used to avoid taxes or conceal wrongdoing.

Here's why 'Harry Potter's' Emma Watson has an offshore company listed in the Panama Papers 05/11/16 [Last modified: Wednesday, May 11, 2016 2:11pm]
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