Global

Paradise Leaks: Offshore Law Firm Appleby Explained (Briefly)

Here’s everything you need to know about one of the world’s largest offshore law firms that was included in the Paradise Papers leak.

What is Appleby?

  • Appleby was set up in 1898
  • It is a prestigious offshore law firm that has won several awards
    • Corporate law firm of the year in 2015
    • Has won Offshore Law Firm of the Year
    • Sees itself as an leader
      It’s part of the Offshore Magic Circle (an informal collection of the world’s biggest offshore law firms that jostle for the same business).
  • It makes $100 million in revenue per year annually
  • Has more than 400 employees globally
  • It is “hard-working” and “friendly.” according to clients

What does Appleby do?

  • Sets up shell companies
  • Establishes trusts
  • Drafts wills
  • Litigates for workplace accidents
  • Divorce settlements
  • Advises corporations

Where does Appleby work?

  • Founded in Bermuda
  • Majority of its work is in North (each of the 50 states)
  • Hong Kong office established in 1990
  • Office in most tax havens: , Isle of Man, Mauritius
  • First offshore law firm to open an office in mainland China

Who are Appleby’s clients?

  • KPMG
  • EY (formerly Ernst & Young)
  • PricewaterhouseCoopers
  • Uber
  • Apple
  • Nike
  • Glencore
  • In 2014 its top 20 clients included these major banks:
    • Citigroup
    • Bank of America
    • HSBC
    • Credit Suisse
    • Wells Fargo

SOURCE: ICIJ

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