Paradise Papers: Yachts and gambling linked to typical Finnish-owned Malta businesses

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Image: Stina Tuominen / Yle

Paradise Papers is the latest international leak of data on tax haven improprieties, this time in the small European island country of Malta. Among other things, the documents reveal that some 350 Finns are shareholders in or directors of Maltese companies.

Among the Finns with money in Malta, there are several familiar names. The wealthy families of von Rettig and Berner have companies there, as do the actor Jasper Pääkkönen and major investors in Finland’s lucrative gaming company Supercell.

The Finnish Broadcasting Company Yle asked several Malta business owners to explain their investments in the island country, but many had troubles remembering why or with whom they had entered into the ventures.

Owning a business in a tax haven like Malta is not illegal, as long as any profits from businesses

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