The Mossack Fonseca records indicate the Nahmads were early adopters of the benefits of offshoring art.
Seymour "Swede" Levov mourns the skills that were lost when he moved all his production offshore: the art of table-cutting, the twists and turns where finger crotches were sewed.
But his mind was still adrift with thoughts of his most recent adventure, a meandering six-month journey of offshore performance art that he and his bride, Laurence Guillem, theatrically dubbed the Odyssey of the Sea Turtle.
The Global Specialty unit includes aviation and satellite, marine and offshore energy, fine art and specie, equine, product recall, political risk and North America inland marine.
Rotondo acknowledged that Thyssen-Bornemisza gains tax benefits by holding ownership of her art offshore, but he stressed that she uses tax havens primarily because they give her "maximum flexibility" when she moves paintings from country to country.
The discovery launched a court case that leads back to the Panama Papers and illustrates the connection between the international trade in art and offshore tax havens.
The mixing of art and offshore is another example of how the super-rich use tax havens to organize their lives and their belongings — buying and selling art, yachts, homes and jewelry through offshore companies and trusts.
In this article, the state-of-the-art deepwater offshore basin at Shanghai Jiaotong University was examined as a case study.
"Wyly Coyote" under investigation for using illegal offshore tax shelters to buy art, luxury items; also rattled by investigation into potentially backdated stock-option grants he made while head of Michaels craft stores outfit.
Thyssen-Bornemisza, 69, didn't reply to ICIJ's questions directly, but allowed her attorney, Jaime Rotondo, to discuss her art and her offshore companies.
