Basic Privacy Needed w/Solid Banking Options

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somuchfun

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Mar 9, 2019
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Wow with so many changes recently with UBO in Europe I just want my name off the public registry as a beneficial owner. The gov't will know I own the company, that I don't care about. I just want a decent jurisdiction with good banking and low taxes.

Is Hong Kong and Singapore decent options? How difficult is it to open a bank with a HK corp if you aren't in HK? Any other jurisdictions that are decent?
 
You can setup a company with nominee director and shareholder to avoid your name to appear anywhere public in the below countries, there may be even more.
  • Belize
  • BVI
  • Cyprus
  • Georgia
  • Hong Kong
  • Seychelles
  • United Kingdom
  • USA - Delaware, Wyoming
and as I already said there are even more, just have a look around and do some search on this forum using Google and you will find it.

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somuchfun said:
somuchfun said:
Wow with so many changes recently with UBO in Europe I just want my name off the public registry as a beneficial owner. The gov't will know I own the company, that I don't care about. I just want a decent jurisdiction with good banking and low taxes.
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I am looking for the exact the same. I do not accept that the company finance data is available to general public as in the case with many European jurisdictions. Probably I have to put up with UBO disclosure, but not the finance data.

I have shortlisted:
Cyprus (with nominees) - however when 5AML directive will be implemented UBO will be available to public
Georgia - UBO is disclosed, but banking is available.
UAE - a lot of problems with banking, but no info is disclosed and expensive maintenance

somuchfun said:
somuchfun said:
Is Hong Kong and Singapore decent options?
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Check this thread

blueweb said:
blueweb said:
  • Belize
  • BVI
  • Seychelles
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It is impossible to open a good bank account for these countries
 
blueweb said:
blueweb said:
You can setup a company with nominee director and shareholder to avoid your name to appear anywhere public in the below countries, there may be even more.
  • Belize
  • BVI
  • Cyprus
  • Georgia
  • Hong Kong
  • Seychelles
  • United Kingdom
  • USA - Delaware, Wyoming
and as I already said there are even more, just have a look around and do some search on this forum using Google and you will find it.
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Click to expand...

why would you want nominees in belize and seychelles with no public record?

Also, OP said wants good banking options, of which I think your list is reduced down to

cyprus
georgia?*
HK
UK
USA

* I think nominees are not allowed?
 
Thanks guys for the replies I really appreciate it. Why can't UAE be considered as well?

Cyprus is doing public UBO soon right?

I think that really leaves HK and UAE as UK and Cyprus are disclosing UBO publicly soon right?

I can't go US as I'm a citizen.
 
somuchfun said:
somuchfun said:
Thanks guys for the replies I really appreciate it. Why can't UAE be considered as well?
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Maybe it can, I don't know. I was just replying to the previous post.

Cyprus is doing public UBO soon right?
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don't know. But wouldn't nominees still work?

I think that really leaves HK and UAE as UK and Cyprus are disclosing UBO publicly soon right?
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again don't know.

And actually, I think you can rule out HK as banking there appears to be hard unless you have actual reasons to be in HK from what I have read here.

I can't go US as I'm a citizen.
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Why would that effect anything?

Take anything I say with a grain of salt, many much more knowlegdable people here than me. But sounds like you just want a good jurisdiction that allows nominees. Tax rate of the jurisdiction is irrelevant as the company will be tax resident where you are running the company from (US?) so US taxes will apply, which will be an added complication. But this will give you privacy from public lookups. But I don't see why you wouldn't go with privacy US jurisdictions (maybe valid reasons I just don't know about as never looked into)
 
blueweb said:
blueweb said:
You can setup a company with nominee director and shareholder to avoid your name to appear anywhere public in the below countries, there may be even more.
  • Belize
  • BVI
  • Cyprus
  • Georgia
  • Hong Kong
  • Seychelles
  • United Kingdom
  • USA - Delaware, Wyoming
and as I already said there are even more, just have a look around and do some search on this forum using Google and you will find it.
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Click to expand...
United Kingdom has a PSC requirement and the Corporate Transparency Act has passed the house in the USA.

Cyprus also has a UBO register due to EU AMLD policies.
 
I'm not in the US, I'm in a CFC free country. I'd like to utilize the tax benefits of my residence. Yes I want nominees but if the UBO is on a registry anyone will be able to find it.
 
Artemis how do you get a bank account? I assume it's an LP with offshore UBOs? Who do you recommend can set this up?
 
somuchfun said:
somuchfun said:
I'm not in the US, I'm in a CFC free country. I'd like to utilize the tax benefits of my residence. Yes I want nominees but if the UBO is on a registry anyone will be able to find it.
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So you are a US citizen, but with residency in a non-CFC country.
You want to use your residency identity to open a company+bank account and avoid the US knowing about it?

I think you will need a passport for opening any bank account rather than non-cfc ID card.
 
somuchfun said:
somuchfun said:
Artemis how do you get a bank account? I assume it's an LP with offshore UBOs? Who do you recommend can set this up?
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if you are trying to avoid reporting to the US bank account will be a major pain due to FATCA. If you don't mind then you might as well open a US account.

If you require maximum confidentiality go for a lawyer ... if not roll your own. (DIY). It is no more difficult than setting up a delaware company.
 
user9823671 said:
user9823671 said:
So you are a US citizen, but with residency in a non-CFC country.
You want to use your residency identity to open a company+bank account and avoid the US knowing about it?

I think you will need a passport for opening any bank account rather than non-cfc ID card.
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This worked for me in Estonia. I only provided residence card and never mentioned my US citizenship.
 
I'm not trying to hide my info from the gov't at all, only public registry. If the bank and the gov't know it's no big deal.

So open a Canadian LP then the LP is a pass-through. Who is best for pass-through? IBCs and keep it 0% tax and will a Canadian bank be ok with those jurisdictions and can you open a bank for a Canadian LP if you aren't a resident and which banks will do so?
 
Alex Durham said:
Alex Durham said:
This worked for me in Estonia. I only provided residence card and never mentioned my US citizenship.
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You opened a bank account in estonina with just an ID card?


somuchfun said:
somuchfun said:
I'm not trying to hide my info from the gov't at all, only public registry. If the bank and the gov't know it's no big deal.

So open a Canadian LP then the LP is a pass-through. Who is best for pass-through? IBCs and keep it 0% tax and will a Canadian bank be ok with those jurisdictions and can you open a bank for a Canadian LP if you aren't a resident and which banks will do so?
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What non-CFC country are you in? Some may not tax foreign controlled companies AS LONG AS they pay "some" tax. If it is 0% jurisdictions, then some countries will claim the company as a local tax resident company
 
I had no idea Ireland, as part of the EU was nonCFC compliant, I had just assumed all of the EU was
 
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