If I wanted to create a nominee company to put an arm's length between a company and myself (for asset protection), how can I make sure that I get a reputable nominee that I can trust (and won't just walk away with the money). Is there any way to guarantee safety of this - other than a power of attorney? Are there better jurisdictions for starting a nominee company than others?
Nominee Company - Trust?
- Thread starter mgrond
- Start date
You always want to go with a certified accountant and also read this thread UAE offshore with nominee director and shareholder?
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There are many options but lets be honest human beings are human beings.
2 options I can think of.
Get a nominee who is not astute and can barely read and write. So they won't be able to do anything.
Set up an account with a crypto exchange like Kraken or coinbase. Change the seed phrase after the account is open and then get the card. The app is on a phone you own so nothing happens and you are in control.
If you want a traditional bank account there is never gonna be a bullet proof solution. Lets be honest who can you complain to if they run with your money!!!
Just find other ways to secure your investment in easily liquidating assets.
2 options I can think of.
Get a nominee who is not astute and can barely read and write. So they won't be able to do anything.
Set up an account with a crypto exchange like Kraken or coinbase. Change the seed phrase after the account is open and then get the card. The app is on a phone you own so nothing happens and you are in control.
If you want a traditional bank account there is never gonna be a bullet proof solution. Lets be honest who can you complain to if they run with your money!!!
Just find other ways to secure your investment in easily liquidating assets.
The bank account is in the name of the nominee and they also need to be present to open it.
Im good, but not good enough to get round that.
Any suggestions.
Correct. You'll need to engage in fraud for at least a bit to bring down the risk to a minimum.
1. Find a remote opening bank
2. Observe the signature in the corporate filing documents your nominee signed. Re-do a series of similar signatures yourself for the account opening forms.
3. Bait your nominee for a passport copy with social engineering. Best bet is to make him agree to sharing his passport before paying his fees. I've been quoted $5K a year for this.
My preference is using a smurf. Basically buying the passport of a person and doing what ever, when ever I want with it. Superior user experience and lower risk. See more here:
https://www.offshorecorptalk.com/threads/privately-spending-untaxed-money-still-possible.29544/
I have nominees who are are simply happy to get their wages every month. They are not particularly bright but they are honest. They have no access to the bank account and neither do they know any information.
Unfortunately due to the fact I am audited quite regularly I cant go down that route. There is a difference between morally wrong and illegal. They may say my morals and motives are wrong but im 100% legal. What the client does with their company is upto them.
All the remote bank account opening options I have had an issue with at some point except CIM who apart from their 100 a month fee for doing nothing and transactions fees are not too bad.
Anything else I cant risk as I am ultimately responsible for my clients funds.
Exactly and to be honest some of my clients pay me way more than they should so they get some preferential treatment.
Plus I dont mind the odd gift or holiday on them.