transferring large sums of money $5 million into banks/EMI

[itheone]

Milky Moon said:
Company and Nominee director still makes you the UBO that needs to be identified by the bank.
Click to expand...

From what i have read, with it being a company account with the bank the UBO can be listed under the business/ company name.

 

[diablo]

But still the bank know the Ultimate beneficial owner!

 

[itheone]

diablo said:
But still the bank know the Ultimate beneficial owner!
Click to expand...

I believe there is a way around it, if i were to nominate a director along with account opening and bank account, with the nominee being a shareholder with a small share, then after company and bank is open, have the nominee director to provide a deed of trust and resign from company, leaving their name lsited on the bank account, is this viable?

 

[Milky Moon]

itheone said:
I believe there is a way around it, if i were to nominate a director along with account opening and bank account, with the nominee being a shareholder with a small share, then after company and bank is open, have the nominee director to provide a deed of trust and resign from company, leaving their name lsited on the bank account, is this viable?
Click to expand...

Well would you want to have nominee with full signing authority that is willing to bend the law?

 

[itheone]

Milky Moon said:
Well would you want to have nominee with full signing authority that is willing to bend the law?
Click to expand...

Are you implying that one may be at risk when providing authority to a nominee who is willing to bend the law, as it could later go against them with adverse effect? if so, i don't see any area of the structured setup which falls outside the parameters of law.

 

[Milky Moon]

http://www.fatf-gafi.org/media/fatf/documents/reports/Guidance-transparency-beneficial-ownership.pdf

Beneficial owner refers to the natural person(s) who ultimately owns or controls a customer and/orthe natural person on whose behalf a transaction is being conducted. It also includes those persons whoexercise ultimate effective control over a legal person or arrangement.

Banks generally want the UBO to identify. If a nominee is willing to falsly state they are the UBO (and incure tax and other liabilities for that), would you trust that nominee to act in your interest?

He will have all the paperwork to have convincing control over your entity/money. You will have no recourse.

Think it through one more time. The nominee will not be in the employment of the likes of Allen and Overy, but more likely in the employment of Honest Achmed's Used Cars and Nominee Services Ltd.

 

[libertycity]

Hello,

As I understand for now,your friend wants to trade bitcoin with privacy.
If you are still looking for the solution,please PM me with your location and I will send you the solution.

Thanks