How do you own UK real estate anonymously the "Russian" way?

[cherry]

After the Russia/Ukraine conflict started in 2022, the UK government introduced the The Register of Overseas Entities act, meant to stop "Russians" from owning property anonymously.

But of course, "Russians" was an excuse for the police state UK wanting to track everyone, including you & me.

A year into the act, it was revealed that the "Russians" were still able to stay anonymous despite the regulation: https://www.bbc.com/news/uk-64536926

There has been no further news since this admission.

So are there any "Russians" here who can share how you're doing it?

 

[JohnnyDoe]

They use “friends”

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[wellington]

How does that work in the CRS and bank surveillance era - would imagine there would be flags going off everywhere

 

[JohnnyDoe]

wellington said:
How does that work in the CRS and bank surveillance era - would imagine there would be flags going off everywhere
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Not if friends are clean. Or as much transparent as ghosts, you know what I mean 😉

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[Martin Everson]

cherry said:
So are there any "Russians" here who can share how you're doing it?
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Putting down UBO as close friends with second passports.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[Don]

cherry said:
After the Russia/Ukraine conflict started in 2022, the UK government introduced the The Register of Overseas Entities act, meant to stop "Russians" from owning property anonymously.

But of course, "Russians" was an excuse for the police state UK wanting to track everyone, including you & me.

A year into the act, it was revealed that the "Russians" were still able to stay anonymous despite the regulation: https://www.bbc.com/news/uk-64536926

There has been no further news since this admission.

So are there any "Russians" here who can share how you're doing it?
Click to expand...

An Israeli passport is the most common second passport among Russian-born billionaires, following the UK, and Malta.

The Intelligence and Security Committee has said that the influence of Russian business is so deeply embedded in the British financial system that it "cannot be untangled".

 

[EliasIT]

If you have that kind of money, where we're talking about hundreds of millions or even a billion, finding someone who can buy everything you want, even if you're Russian, is probably the least of your worries. I'm also sure they have their methods for managing these people, beyond just feeding them money.

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If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability!
My personal favorite thread posted in the Mentor Group. Group of investment companies to avoid licensing.

 

[Martin Everson]

EliasIT said:
I'm also sure they have their methods for managing these people, beyond just feeding them money.
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Yes they do. Most people don't want their name added to such lists.

Full List of Russians to Fall Out of Windows​

https://www.newsweek.com/full-list-russians-fall-windows-putin-ukraine-war-1781790

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[EliasIT]

haha I must say, you're always ready with the perfect comment and the right links for those kinds of posts rof/%

Toggle signature
If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability!
My personal favorite thread posted in the Mentor Group. Group of investment companies to avoid licensing.

 

[cherry]

EliasIT said:
If you have that kind of money, where we're talking about hundreds of millions or even a billion, finding someone who can buy everything you want, even if you're Russian, is probably the least of your worries. I'm also sure they have their methods for managing these people, beyond just feeding them money.
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If that's what they were doing, the UK government wouldn't say the owners are anonymous. The BBC link in the OP suggests uses of trusts is keeping them anonymous.

 

[ilke]

cherry said:
If that's what they were doing, the UK government wouldn't say the owners are anonymous. The BBC link in the OP suggests uses of trusts is keeping them anonymous.
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Because trusts don't have a UBO and the UK currently does not require reporting of founders/beneficiaries when a trust is the final owner in this case, i.e. it will be listed as if there is no PSC available or the trustee will be listed (an offshore company can, in some cases, act as one).

You can do the same thing.

But about half of the offshore companies, according to the BBC, simply did not file the report or filed it with the wrong info. This is the most anonymous solution smi(&% but will probably be punished at some point.

 

[LFGC]

Martin Everson said:
Yes they do. Most people don't want their name added to such lists.

Full List of Russians to Fall Out of Windows​

https://www.newsweek.com/full-list-russians-fall-windows-putin-ukraine-war-1781790
Click to expand...

Disregard anything US media says about Russia, almost everything is an outright lie, including most of the sensationalist window accidents. As for how it is done, not all Russian billionaires, and most certainly not all citizens are on sanctions list. They highly likely use fiduciaries. Not to mention, the US and its vassals have not been successful in being able to repossess Russian assets, illegally, and keeping them. Multiple yachts and other assets have been returned in high-profile court cases.

 

[OKboomer]

ilke said:
Because trusts don't have a UBO and the UK currently does not require reporting of founders/beneficiaries when a trust is the final owner in this case, i.e. it will be listed as if there is no PSC available or the trustee will be listed (an offshore company can, in some cases, act as one).
.
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What financial institutions do not require UBO om trusts? They have required it for years.... and they have pernicious definition of a UBO (e.g. settlor of trust)

 

[ilke]

OKboomer said:
What financial institutions do not require UBO om trusts? They have required it for years.... and they have pernicious definition of a UBO (e.g. settlor of trust)
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We are not talking about financial institutions, but rather about the UK's Companies House.

 

[OKboomer]

ilke said:
We are not talking about financial institutions, but rather about the UK's Companies House.
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But how do you purchase real estate bypassing financial institutions. And anyway, if your (i assume here english) company owns real estate and is owned by a trust, for any paperwork (e.g. accounting, payment of any taxes etc) would still involve accountants / intermediaries who would still require a UBO? Also, if the UK government contacts your agent with any AML-related suspicions, your agent will hand over the information on UBO, would they not?

 

[lacomaco]

Law is not enforced, Russians are simply disregarding the reporting requirements”¦
Is it possible that nobody actually read the article? The answer is in the 3rd paragraph:
But analysis by BBC News and Transparency International found almost half of firms required to declare who is behind them failed to do so.

 

[LFGC]

lacomaco said:
Law is not enforced, Russians are simply disregarding the reporting requirements”¦
Is it possible that nobody actually read the article? The answer is in the 3rd paragraph:
But analysis by BBC News and Transparency International found almost half of firms required to declare who is behind them failed to do so.
Click to expand...

Even if they're required to do so, most of Russia's elite are dual citizens, and will use those documents, making the plausible deniability much higher for compliance purposes.

 

[SoNewToAllShit]

JohnnyDoe said:
They use “friends”
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Isn't that very risky ?

 

[lacomaco]

SoNewToAllShit said:
Isn't that very risky ?
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They will hold the "friend"'s body outside of the window to force him/her to tell how to change the actual wealth component back to them and then they release the "friend". Happy flying! Better than Concorde

 

[JohnnyDoe]

lacomaco said:
They will hold the "friend"'s body outside of the window to force him/her to tell how to change the actual wealth component back to them and then they release the "friend". Happy flying! Better than Concorde
Click to expand...

Some friends are so good it's like trusting yourself. No need for a flight plan.

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