UK residents buying UK properties with anonymity

[jayleong913]

Dear all, I hope the experienced people on this forum can help with my situation

I am a foreigner but have lived in the UK for a long time, I haven't got the British citizenship yet but I am a sole UK resident for tax purpose.
Now I would like to buy 1 or 2 UK residential properties but would like to remain hidden from its ownership, how do I structure the purchase?

My requirement is, if UK police wants to know who owns this house, they will only see a company's name and cannot find out my name at all.
The funds to buy the properties can come from 2 sources, either cash in the UK or transfer from overseas (I have relatives in Asia who can send money over)

The properties will probably be rented out, and I'm willing to pay taxes owed on the rental income, but ideally, I want to pay for the properties using the cash in the UK, and if police wants to find out who the owner of the house is, they can't find my name.

I really appreciate any tips and helps

Thanks all

Last edited: Dec 21, 2020

 

[tacokai]

You want to hide from MI-6 and the Police in the UK.⁠

I'm afraid you will have a hard time doing so, but maybe the hooker solution⁤ mentioned in the mentor group can help you. At least it won't be your name⁣ revealed as first, but only after they masturbated your hooker the wrong places.

Sorry for⁢ my ignorance, but sometimes I feel that people believe we can do the over natural︀ here, of course you can't hide from the Police unless you claim Diplomat status or︁ you are a Saudi from the UAE.

 

[CaptK]

You have to use someone you trust to be a nominee director on the company.‌
I'm guessing you don't want to show any wealth until you get your British passport.‍

 

[blizz]

Who do you want to trust your hard earned money,⁠ I wonder?

I'm curious to learn what should be the tax trick to hide it⁤ before you get your UK passport / citizen?

 

[Davis123]

I think there are structures in U.K.‍ that can be done this way. Unlike US, there are lot of options available to⁠ U.K. residents. I was surprised to see some that are available to U.K. residents as⁤ we had a lot of clientele from U.K. owning properties in Dubai and getting tax⁣ free income from rentals.

 

[jayleong913]

if i make an offshore company, I can add nominee⁠ director and shareholder, but the trouble is I will be listed as Ultimate Beneficial Owner,⁤ which I don't know how to get around

 

[jayleong913]

could you please share more detail?

thanks

 

[jayleong913]

i'm guessing that hooker solution involves⁢ using a hooker's name as director?

 

[Davis123]

I think best‌ to ask from CaptK here. He is more familiar with these type of structures. Good‍ luck. There are some dom and non dom ways to do these things. Since I⁠ am not from UK I am not familiar with such things.

 

[CaptK]

In the UK when you buy a‍ property you have to give your Tax Number.
They register that against your earnings and⁠ if they don't match up................!!!!!
If you are a foreign buyer and don't have a⁤ UK tax number your taxed more.

Do not buy the house for cash put down a sizable deposit and mortgage the rest.︀

This is really a MG thread

 

[Davis123]

How is that so many⁤ foreigners are found with UK properties these days ? They have those in some LLC⁣ and they avoid these taxes being non U.K. citizens. I don't know if dom or⁢ non dom applies to them too. I am curios as there are people I know︀ that have these properties there.

 

[CaptK]

They were there but the law is changed now. You now pay an envelope tax‌ as a foreigner owning a property you don't live in. If you are collecting rent‍ and don't pay your dues then they will get you.
They won't chase you for⁠ years then all of a sudden your hit with a tax bill and penalties. They⁤ have given you the rope that you will hang yourself with.

They will auction your⁣ house if you don't pay. There is a tax whether you rent it or you⁢ don't.

 

[jayleong913]

perhaps I should lower my expectation then.

How about this

I just want to own‌ properties, let say cheap residential properties worth £80,000 each, and maybe 3 4 of them.‍
I am willing to pay tax on rental income.
I just want the public to⁠ not know that I own those properties.

I assume in order to get bank account⁤ I need to disclose to the bank that I am the owner, but that is⁣ fine because the public won't have access to this information, only the bank.
I have⁢ a blurry idea regarding the structure to achieve this.

First I get a holding entity︀ in a jurisdiction without UBO register (maybe Seychelles or some other jurisdiction which I don't︁ know yet, please tell if you know which one has no UBO information publicly), let's︂ call that ABC Holding Entity, it will have nominee director and shareholder.

Then I will︃ make a UK LLP or LTD which will go buy the properties. This UK entity︄ will own these houses and have the ABC Holding Entity as director.

Is that setup︅ correct? Can somebody please share some thoughts?

Thanks

 

[CaptK]

You will︄ run into too many problems with KYC and AML.

You need to start this thread︅ in the Mentor Group.

 

[EliasIT]

If you have a solution for such things I'm all in.

@Admin will you move‌ this thread or am I allowed to open a new thread inside?