Offshore law firms have flocked to Asia in recent years, including Mossack Fonseca. The secretive Panamanian law firm became headline news last week, when a leak of 11.5 million documents from the firm has shed light on the hidden offshore fortunes of powerful and wealthy figures around the world. Asia has become a key source of business for Mossack, while its strategy there has set it apart from most of its offshore peers.
Mossack is one of the foreign law firms with the most offices in mainland China. While most international law firms operate largely in Beijing and Shanghai, China’s two leading legal markets, Mossack has set up shop in seven mainland cities since 2000: Shanghai, Hangzhou, Ningbo, Qingdao, Dalian, Jinan and Shenzhen, according to its website. All but one—Shenzhen, which borders Hong Kong—are located along China’s east coastline, which boasts vibrant foreign trade and an affluent local business community.
