UK LTD with real nominee owner, director and shareholder, how?

[kilor]

I have just seen a broadcast about a giant large scam network in the Netherlands and which extends beyond virtually the entire world. In the program there is an English company, corporate service provider that offers to insert himself as the owner of the company, he suggests that the customer himself creates an account at Paysera, Wise or SachelPay in his own name. Immediately I can not make the ends stick together:

• the neobank must see a connection between the owner of UK LTD and the person who creates the account, here there will be a mismatch ?
• the "nominee owner", not sure if it is called this or it is intermediary will be held responsible for all activity in the company or not?
• UK is not part of the EU any longer, he claim, it is the perfect place for none residence with debt to the tax auth. in any EU country to hide??

I would really like to figure out how he is going about this setup.

Would the same setup be possible in other countries i.e. UAE, Romania etc ?

Any input would be nice.

@Martin Everson , @Sols , @Fred @ @Gediminas @neweraoffshore

 

[Sols]

kilor said:
the neobank must see a connection between the owner of UK LTD and the person who creates the account, here there will be a mismatch ?
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Hard to say without the full details and order of operations.

In general, money laundering today is nearly impossible for a person to get away with nowadays. But an organized group of people with a large supply of identities can probably set up a network of companies which, on their own, are small enough to draw attention. The key would be keeping those companies clean and separated.

This might be something that works for small businesses/clients but would fall apart once the amounts are high enough that in-depth SOF/SOW checks are performed.

kilor said:
the "nominee owner", not sure if it is called this or it is intermediary will be held responsible for all activity in the company or not?
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It depends on whether it's a regulated nominee or a criminal nominee setup. Regulated nominees are likely not legally liable as long as they can prove they have taken all reasonable steps to vet the UBO and any agreements signed.

Criminal nominees would be liable, since there would be no legal arrangements in place to the contrary.

kilor said:
UK is not part of the EU any longer, he claim, it is the perfect place for none residence with debt to the tax auth. in any EU country to hide??
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HMRC prosecutes anyone with a tax debt and wins by default in UK courts, but if we're talking about small debts it's unlikely they will have much success collecting from someone outside UK. But I wouldn't want to live in EU with a large tax debt in the UK and rely on lack of successful collection of debt.

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This is the probably the answer to your question.

 

[kilor]

Sols said:
Regulated nominees are likely not legally liable as long as they can prove they have taken all reasonable steps to vet the UBO and any agreements signed.
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is there any LEGAL nominee service out there that would do that, some you may know about?

thank you for taking the time to answer thu&¤#

Sols said:
HMRC prosecutes anyone with a tax debt and wins by default in UK courts
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the debts were not in the UK but in the countries where these people lived ie Denmark, Netherlands and Turkey

 

[Sols]

kilor said:
is there any LEGAL nominee service out there that would do that, some you may know about?
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There are a lot of nominee service providers in the UK. Some of the most well known would be TMF, Vistra, Zedra, Trident Trust, and Intertrust.

But even if you appoint both nominee directors and shareholders for a UK company, you will still appear in the PSC (Person with Significant Control) register. To not appear there legally, you need a much more complicated setup than just nominees.

kilor said:
the debts were not in the UK but in the countries where these people lived ie Denmark, Netherlands and Turkey
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OK, so it's the other way around. People in UK have tax debts in EU and Turkey? Well, it's the same story in either case. Small tax debts might not be collectible (for now) but it's not exactly future proof.

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This is the probably the answer to your question.

 

[kilor]

No, no,..... a person in Turkey owes money to tax auth. in Turkey, for these guys the CSP opens a UK LTD where he act as UBO for the company.

same story for the guys in Netherlands, Denmark and where else they operate.

So actually the guy in Turkey, Netherland or Denmark does not owe the UK LTD at all (officially) his name is nowhere, but still the CSP say the account is opened in the companies name but they can't do it.

I consider to contact this particular provider to see if I can get such a setup just to lure how they are doing 🙂

Sols said:
you need a much more complicated setup than just nominees.
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what setup would that be?

BTW: this is the CSP I discuss here
https://cpieservices.com/

 

[Martin Everson]

Hope you trust that CSP as you got no comeback if they run off with your money. You can't exactly go to police if that happens. Plus no agreement you sign with them will be enforceable without admitting to authorities what you were up to and implicating yourself. It's a complete non-starter and scam.

I know of someone who used such a person and that person stole millions from his company before running of to Singapore.

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

 

[JohnLocke]

I believe if you are in the situation where you need to use such a service you are pretty much at the end of all possibilities and hopefully it is the last resource on earth that you can make use of because you have tried everything else.

As already outlined above, I would refrain from using such a service, however, I noticed that they are asking you to open the account in your own name, so just think out of the box, they may not have access to your money.

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[KDX]

If anyone decides to use this service or a similar arrangement, please let us know how it goes, I'm very interested!

 

[EliasIT]

I'm not sure if you guys are aware of it, but there is running a AD here on the forum with a service provider in the UK who actually offer exact that. UK LTD and some sort of banking, no KYC required!

https://www.iqomp.com/

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[burden]

EliasIT said:
I'm not sure if you guys are aware of it, but there is running a AD here on the forum with a service provider in the UK who actually offer exact that. UK LTD and some sort of banking, no KYC required!

https://www.iqomp.com/
Click to expand...

I didn't see that AD yet. I will try to contact them to figure out how this work. They may, as @Martin Everson said, be able to run with my money so that would not be a lucky situation for me.

 

[fanban]

Sols said:
There are a lot of nominee service providers in the UK. Some of the most well known would be TMF, Vistra, Zedra, Trident Trust, and Intertrust.
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all of them are well reputable.

 

[lostguy]

EliasIT said:
iQompany ”“ Buy UK Ltd with full nominee service
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perfect service if you want to quickly get a company you don't have to think about what to do with later.

 

[clemens]

lostguy said:
perfect service if you want to quickly get a company you don't have to think about what to do with later.
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only problem is that most of all the information they are using is fake. You can't change anything on the setup they sell you, means, you need to do your homework before you buy the solution.

It works well for me, but not all can handle it.

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