# São Paulo: Does corruption live next door? Shell companies and the real estate sector in the largest city in the Southern Hemisphere URL: https://www.transparency.org/en/publications/sao-paulo-does-corruption-live-next-door Type: Publication or report Published: 2017-04-10 Updated: 2020-04-06 --- 10 April 2017 This report raises red flags about the lack of transparency in property ownership in São Paulo and identifies how real estate worth billions of dollars is owned through companies registered in offshore tax havens. In Brazil, as in many countries around the world, it is possible to hide the beneficial owner of companies that are buying property. The research shows that more than 3,450 real estate titles are owned through 236 companies that are registered in secrecy jurisdictions and tax havens, including in the British Virgin Islands, the US state of Delaware and Uruguay. ### Related publications ## [Regional Assessment of Integrity in Political Finance in South Asia, Southeast Asia and East Asia](https://www.transparency.org/en/publications/integrity-political-finance-asia) Publication • 03 September 2026 This report reviews systems across 17 countries to identify the areas of political finance most in need of reform. ## [Annual Report 2025](https://www.transparency.org/en/publications/annual-report-2025) Publication • 17 July 2026 In 2025, Transparency International pursued its mission to stop corruption and promote transparency, accountability and integrity at all levels and across all sectors of society. ## [Whistleblowing Authorities in Europe: Roles, challenges and lessons learned](https://www.transparency.org/en/publications/whistleblowing-authorities-in-europe-roles-challenges-and-lessons-learned) Publication • 19 June 2026 This report examines the institutional design, mandates and functioning of national whistleblowing authorities across Europe. ## [Corruption fighters' toolkit: civil society experiences and emerging strategies](https://www.transparency.org/en/publications/corruption-fighters-toolkit-civil-society-experiences-and-emerging-strategi) Publication • 15 August 2002 ## Priorities - [Dirty money](https://www.transparency.org/en/our-priorities/dirty-money) ## Countries - [Brazil](https://www.transparency.org/en/countries/brazil) ![](https://images.transparencycdn.org/images/2017_SaoPauloRealEstate_EN_116.jpg?auto=compress&fit=crop&fm=webp&w=1200) [Download](https://images.transparencycdn.org/images/2017_SaoPauloRealEstate_EN.pdf)