Panama Papers: Everything you need to know about how and where rich people hide their money

All eyes are on the International Consortium of Investigative Journalists' huge database, dubbed the Panama Papers, which shows how some of the world's wealthiest and most powerful people legally hide their cash.

The database consists of of 200,000 companies, trusts, foundations, and funds incorporated in 21 countries.

Business Insider has already shown where some of the world's largest banks legally hide cash for rich clients and who are the key individuals and companies in the US and Britain that are within the files.

The findings are a huge deal. 

Over 11 million documents held by the Panama-based law firm Mossack Fonseca were leaked to the German newspaper Süddeutsche Zeitung, which shared the information with the ICIJ, an organisation made up of 107 media companies in 78 countries.

The global news outlets examined 28,000 pages of documents, also revealing the full scale of the tax breaks won by 340 companies.

The ICIJ published this statement on its website along with the documents: "There are legitimate uses for offshore companies and trusts. We do not intend to suggest or imply that any persons, companies or other entities included in the ICIJ Offshore Leaks Database have broken the law or otherwise acted improperly."

So using some of the materials from ICIJ, Business Insider did a quick run down of everything you need to know about how and where companies and individuals - while working with law firms and banks - sheltered their money.