offshore companies in tax havens like Panama so called Panama Leaks

http://www.theguardian.com/news/live/2016/apr/05/panama-papers-iceland-prime-minister-resigns-over-familys-offshore-company-live

Nicely explained the offshore companies think here:
http://www.theguardian.com/world/2016/apr/05/how-to-explain-offshore-banking-and-when-it-is-naughty-to-a-5-year-old