Thanks for sharing this, really solid question and a situation I’ve seen more and more lately, especially with people offering B2B services who want to stay discreet without doing anything shady.
You’re right that Cyprus is no longer ideal for this kind of setup, especially if you're after true discretion and not just a paper nominee. Switzerland might seem good on the surface, but as others have mentioned, finding someone who’ll offer nominee services and still help with banking is almost impossible nowadays. Most serious banks will require a full UBO disclosure and supporting docs anyway.
If you're still looking within Europe, Spain might be an overlooked option. There are very niche structures where you can appoint nominees, both︀ for director and shareholder and still maintain full control behind the scenes. Properly set up,︁ it’s possible to include a functioning EUR IBAN bank account and operate entirely above board.︂ But it needs to be done right and with the right local setup to avoid︃ flags.
