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Queen Noor – sometimes referred to as “Mrs. Jordan” or “Mrs. Brown” in Appleby’s database – is the beneficiary of two trusts registered in Jersey, according to a document dated October 2015. Leaked files show that one, the Valentine 1997 Trust, was valued at more than $40 million in 2015, and its income is to be paid to the queen during her lifetime. The trust also owns property in southern England adjacent to Buckhurst Park, where Queen Noor resides and where she is responsible for keeping the premises “clean and tidy” and for “interior decoration.”
To reduce inheritance taxes on the queen’s estate upon her death, the trustees in 2013 considered borrowing money and using Buckhurst Park as a security. This arrangement would lower the property’s market value and decrease inheritance taxes, according to internal notes. It is not clear whether the idea was implemented.
According to Appleby documents, the other trust, the Brown Discretionary Settlement, is the beneficial owner of a Jersey-incorporated investment holding company with assets worth about $18.7 millIon in 2015.
A spokesman for Queen Noor told ICIJ that “all the bequests made to her and to her children by [the late King Hussein] have always been administered according to the highest ethical, legal and regulatory standards.”
He did not respond to detailed questions about the queen’s offshore assets.
See allThis ICIJ database contains information on more than 785,000 offshore entities that are part of the Panama Papers, the Offshore Leaks, the Bahamas Leaks and the Paradise Papers investigations. The data covers nearly 80 years up to 2016 and links to people and companies in more than 200 countries and territories.
There are legitimate uses for offshore companies and trusts. We do not intend to suggest or imply that any people, companies or other entities included in the ICIJ Offshore Leaks Database have broken the law or otherwise acted improperly. Many people and entities have the same or similar names. We suggest you confirm the identities of any individuals or entities located in the database based on addresses or other identifiable information. If you find an error in the database please get in touch with us.
The ICIJ Offshore Leaks Database is licensed under the Open Database License and contents under Creative Commons Attribution-ShareAlike license. Always cite the International Consortium of Investigative Journalists when using this data. You can download a raw copy of the database here.
Help ICIJ investigate
There are legitimate uses for offshore companies and trusts. We do not intend to suggest or imply that any people, companies or other entities included in the ICIJ Offshore Leaks Database have broken the law or otherwise acted improperly. Many people and entities have the same or similar names. We suggest you confirm the identities of any individuals or entities located in the database based on addresses or other identifiable information. If you find an error in the database please get in touch with us.
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Find this content interesting and worth supporting?
Donate to ICIJ. Help us continue investigating important global issues. Gifts made today will be matched up to $10,000.