BVI company setup as holding!

[alpakiwi]

The US banks can report you under CRS as well, those that are pert of the CRS. That is why I would recommend to double check that.
I am not saying that you own LLC, I am saying that the Nevis asset protection laws would not apply to the US LLC. And if you are indicated yourself as the owner if the LLC in the bank, you are completely exposed to any attacks and do not benefit from any asset protection.

What you're saying doesn't make sense. Nevis asset protection laws here are only relevant to the extent the trust gets sued. The LLC can get sued, of course, but it's not yours. If the trust gets sued and has been set up correctly, you won't be considered to be the UBO and Nevis laws will protect you.

With regards to US banks reporting US LLCs UBOs for CRS, I have never seen that because US banks do not report CRS. If you use US banks in other jurisdictions, they might, but that's not what we're talking about here.

 

[alpakiwi]

But as far as I know, and from what I experienced myself a few years ago in Cyprus, it's not exactly easy to open a bank account for a trust. In fact, navigating the structure of a trust was nearly impossible.

Depends on how much money you have, but yes, its complicated.

 

[Offshr]

What you're saying doesn't make sense. Nevis asset protection laws here are only relevant to the extent the trust gets sued. The LLC can get sued, of course, but it's not yours. If the trust gets sued and has been set up correctly, you won't be considered to be the UBO and Nevis laws will protect you.

With regards to US banks reporting US LLCs UBOs for CRS, I have never seen that because US banks do not report CRS. If you use US banks in other jurisdictions, they might, but that's not what we're talking about here.

Well, previously you mentioned that to the bank you submit your information as the UBO of LLC. What I am trying to say is that in case of a proceeding against US LLC your funds in the bank would be either:

1. Blocked by the bank for submission of misleading information regarding UBO
2. Freezed by the court order and will be subject to the creditor' s lawsuit just like your own money.

What is the point of establishing such a structure?

 

[alley]

you made a very good point there @Offshr - I can't see that a Trust can protect you from that unless you move the funds regularly to the Trust.