the best privacy for UBO ?

[Verified Anony]

Hi,

I live in one of Asian country.
Contrary to international trend, the government continues to raise taxes annually.
I am suffering from high corporate tax rates and individual tax rates.

My business is ecommerce without illegal elements like cryptocurrency or gambling.

Therefore, I want to establish a corportaion in the country that best protects the secret of UBO.
I read here that many of you recommend Switzerland and Seychelles.

1. Is Switzerland a better option than Ireland for my privacy?
If so, can you tell me why?

2. I would also like to transfer my funds to a Swiss-Irish-offshore company to lower taxes legally. I want an optimal solution with a nominee director and a nominee shareholder. The company intends to establish at least three, including Switzerland. Is it impossible to keep my secret because of bank account information sharing?

If privacy is guaranteed, the annual maintenance cost of 8,000 Euros (approx.) is not a problem for me.
To open a merchant account in Switzerland, I can visit Switzerland any time.

Please help.

 

[Verified Anony]

Hi,

I live in one of Asian country.
Contrary to international trend, the government continues to raise taxes annually.
I am suffering from high corporate tax rates and individual tax rates.

My business is ecommerce without illegal elements like cryptocurrency or gambling.

Therefore, I want to establish a corportaion in the country that best protects the secret of UBO.
I read here that many of you recommend Switzerland and Seychelles.

1. Is Switzerland a better option than Ireland for my privacy?
If so, can you tell me why?

2. I would also like to transfer my funds to a Swiss-Irish-offshore company to lower taxes legally. I want an optimal solution with a nominee director and a nominee shareholder. The company intends to establish at least three, including Switzerland. Is it impossible to keep my secret because of bank account information sharing?

If privacy is guaranteed, the annual maintenance cost of 8,000 Euros (approx.) is not a problem for me.
To open a merchant account in Switzerland, I can visit Switzerland any time.

Please help.

 

[Verified Anony]

The company intends to establish at least three, includingSwitzerland.
>>I would like to establish at least three companies, including Switzerland.

 

[Verified Anony]

The company intends to establish at least three, includingSwitzerland.
>>I would like to establish at least three companies, including Switzerland.

 

[Martin Everson]

Forget Switzerland.....banking secrecy is over for foreigners trying to operate accounts there. In fact this goes for every bank. All company registers will eventually be open to public as to who the UBO is also. I know some people may recommend opening a offshore company and bank account in Puerto Rico to avoid reporting but don't waste your time with that..it won't last.

You may simply want to really consider paying your taxes or taking up residency in a low or zero tax country. Any other solution will only be temporary until the loophole is eventually closed.

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

 

[Martin Everson]

Forget Switzerland.....banking secrecy is over for foreigners trying to operate accounts there. In fact this goes for every bank. All company registers will eventually be open to public as to who the UBO is also. I know some people may recommend opening a offshore company and bank account in Puerto Rico to avoid reporting but don't waste your time with that..it won't last.

You may simply want to really consider paying your taxes or taking up residency in a low or zero tax country. Any other solution will only be temporary until the loophole is eventually closed.

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

 

[diablo]

for banking I agree with @Martin Everson but for company registration I don't, I really don't agree! There are plenty of legal and gray area methods to avoid your name to be public available on a company registry in most offshore jurisdictions.

The implest known is to appoint nominees!

 

[diablo]

for banking I agree with @Martin Everson but for company registration I don't, I really don't agree! There are plenty of legal and gray area methods to avoid your name to be public available on a company registry in most offshore jurisdictions.

The implest known is to appoint nominees!

 

[Verified Anony]

diablo said:
for banking I agree with @Martin Everson but for company registration I don't, I really don't agree! There are plenty of legal and gray area methods to avoid your name to be public available on a company registry in most offshore jurisdictions.

The implest known is to appoint nominees!
Click to expand...

Is there any recommendation in EU jurisdiction? I need a company in EU, to raise the external image of the company.

 

[Verified Anony]

diablo said:
for banking I agree with @Martin Everson but for company registration I don't, I really don't agree! There are plenty of legal and gray area methods to avoid your name to be public available on a company registry in most offshore jurisdictions.

The implest known is to appoint nominees!
Click to expand...

Is there any recommendation in EU jurisdiction? I need a company in EU, to raise the external image of the company.

 

[Verified Anony]

Martin Everson said:
Forget Switzerland.....banking secrecy is over for foreigners trying to operate accounts there. In fact this goes for every bank. All company registers will eventually be open to public as to who the UBO is also. I know some people may recommend opening a offshore company and bank account in Puerto Rico to avoid reporting but don't waste your time with that..it won't last.

You may simply want to really consider paying your taxes or taking up residency in a low or zero tax country. Any other solution will only be temporary until the loophole is eventually closed.
Click to expand...

UK - How to hide money & property ownership?
"But you can setup a Swiss AG, bypass the UBO regulations and buy property via the AG. Find a Treuhand that setups a new AG for you so your identity will not be shown in the incorporation docs. The whole stup will cost you approx 5-8K CHF per year (nominee director), so you better buy a very expensive house"
Did I misunderstand?
Here, Switzerland is supposed to hide the owner on paperwork.

 

[Verified Anony]

Martin Everson said:
Forget Switzerland.....banking secrecy is over for foreigners trying to operate accounts there. In fact this goes for every bank. All company registers will eventually be open to public as to who the UBO is also. I know some people may recommend opening a offshore company and bank account in Puerto Rico to avoid reporting but don't waste your time with that..it won't last.

You may simply want to really consider paying your taxes or taking up residency in a low or zero tax country. Any other solution will only be temporary until the loophole is eventually closed.
Click to expand...

UK - How to hide money & property ownership?
"But you can setup a Swiss AG, bypass the UBO regulations and buy property via the AG. Find a Treuhand that setups a new AG for you so your identity will not be shown in the incorporation docs. The whole stup will cost you approx 5-8K CHF per year (nominee director), so you better buy a very expensive house"
Did I misunderstand?
Here, Switzerland is supposed to hide the owner on paperwork.

 

[Martin Everson]

diablo said:
for banking I agree with @Martin Everson but for company registration I don't, I really don't agree! There are plenty of legal and gray area methods to avoid your name to be public available on a company registry in most offshore jurisdictions.

The implest known is to appoint nominees!
Click to expand...

Nominees won't help you long term. We are moving towards an open state. The UK already has in its company registry the ability to see online the UBO/Controlling Person. Others will follow....think long term.

Dutch chamber of commerce's first step, new government should open company register ”“ Open State Foundation

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

 

[Martin Everson]

diablo said:
for banking I agree with @Martin Everson but for company registration I don't, I really don't agree! There are plenty of legal and gray area methods to avoid your name to be public available on a company registry in most offshore jurisdictions.

The implest known is to appoint nominees!
Click to expand...

Nominees won't help you long term. We are moving towards an open state. The UK already has in its company registry the ability to see online the UBO/Controlling Person. Others will follow....think long term.

Dutch chamber of commerce's first step, new government should open company register ”“ Open State Foundation

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

 

[diablo]

Verified Anony said:
UK - How to hide money & property ownership?
"But you can setup a Swiss AG, bypass the UBO regulations and buy property via the AG. Find a Treuhand that setups a new AG for you so your identity will not be shown in the incorporation docs. The whole stup will cost you approx 5-8K CHF per year (nominee director), so you better buy a very expensive house"
Did I misunderstand?
Here, Switzerland is supposed to hide the owner on paperwork.
Click to expand...

I don't think you misunderstood the situation in regards wot Switzerland it is indeed possible to hide the UBO this way. @Milky Moon is right.

Anyway, towards who do you seek privacy? government, tax office or simply business relations like partners and customers?

 

[diablo]

Verified Anony said:
UK - How to hide money & property ownership?
"But you can setup a Swiss AG, bypass the UBO regulations and buy property via the AG. Find a Treuhand that setups a new AG for you so your identity will not be shown in the incorporation docs. The whole stup will cost you approx 5-8K CHF per year (nominee director), so you better buy a very expensive house"
Did I misunderstand?
Here, Switzerland is supposed to hide the owner on paperwork.
Click to expand...

I don't think you misunderstood the situation in regards wot Switzerland it is indeed possible to hide the UBO this way. @Milky Moon is right.

Anyway, towards who do you seek privacy? government, tax office or simply business relations like partners and customers?

 

[Martin Everson]

Verified Anony said:
Is there any recommendation in EU jurisdiction? I need a company in EU, to raise the external image of the company.
Click to expand...

Just pick the EU country with the lowest taxes and that is able to provide paperwork in a language you understand.

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

 

[Martin Everson]

Verified Anony said:
Is there any recommendation in EU jurisdiction? I need a company in EU, to raise the external image of the company.
Click to expand...

Just pick the EU country with the lowest taxes and that is able to provide paperwork in a language you understand.

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

 

[diablo]

I still believe Cyprus will stay as it is today, the same will many of the other offshore jurisdictions. Otherwise there are still methods to hide UBO if you think out of the box!

 

[diablo]

I still believe Cyprus will stay as it is today, the same will many of the other offshore jurisdictions. Otherwise there are still methods to hide UBO if you think out of the box!