Buy Real Estate Without Revealing UBO?

maxmmm

Building Trust
Entrepreneur
I've heard that in the UK until few years ago you could buy real estate using just a PoA of a company, without revealing UBO. Is that true?

Any other countries where you can buy using offshore\foreign company without revealing UBO?
 

maxmmm

Building Trust
Entrepreneur
Unfortunately no link, heard about it years ago but not sure if 100% true.
 

xzars

Trusted Member
Business Angel
More difficult than before. Still possible.

1. Always put the UK property in a UK limited company, and make the offshore company owner of that UK limited company. Use low profile nominee directors and shareholders (individuals, not yet another corps). Nominees who spread legs for less than 1K per year are unfit hookers with a lot of mileage.

2. Have your nominees contract with local lawyers to complete the property purchase. They point a finger to that offshore company when asked about ultimate beneficiaries they represent. PS! Make sure the UK limited company itself is bought by nominees of the offshore corp, and not by you.

3. It's at this point the risk is highest - the offshore corporate record will be checked before a title transfer is approved. If it features an address of an incorporation windmill, and popular sluts as controlling persons and beneficiaries, they will ask the same question again "who are the ultimate beneficiaries you represent?"

After the purchase, the risks are much lower. As long as the title is held by a UK company, it fits in nicely with domestic landlords. Title searches won't raise any red flags; nobody really cares to dig deeper from this point until the property is sold or pledged against a loan.
 
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