Non public UBO within EU for privacy

[Boman]

Hi!
I want to start a company with hidden UBO inside the EU.
There is no problem giving out the UBO to tax authorities and banks etc. I just don't want my name to show up in the public register for my competitors to see.

My lawyer presented me the solution to create a Malta trust but said it would cost around 15.000 euro for the setup, is there any other (cheaper) way?
I have plowed through the forum and can't really find any other solutions.

Do you have any ideas? I am an EU citizen, living inside the EU and the business will be done inside EU.

 

[Gediminas]

Hi,

Just use a nominee service for your new entity (Cyprus, Malta, etc), and your problems will be solved. No need to get a trust just for hiding your name from the public.

 

[cis]

Hi,

Just use a nominee service for your new entity (Cyprus, Malta, etc), and your problems will be solved. No need to get a trust just for hiding your name from the public.

I thought Cyprus and Malta had a public UBO registry like other EU countries?

 

[NicolasMaduro]

Latvia works just fine for this. Unless your competitors don´t mind paying a fee to find out who is behind a company,
and unless your competitors know your date of birth, then they can get it free of charge.

 

[Boman]

Latvia works just fine for this. Unless your competitors don´t mind paying a fee to find out who is behind a company,
and unless your competitors know your date of birth, then they can get it free of charge.

Thanks for the tips, but I don't think a fee will scare them away from finding out I'm afraid.

 

[CaptK]

Have a read of the thread from a couple of days ago UK LLP for total anonymity, true?,

You will find some opinions there.

 

[Gediminas]

I thought Cyprus and Malta had a public UBO registry like other EU countries?

There is no public registry of the UBO in Cyprus at this time.

 

[Boman]

Have a read of the thread from a couple of days ago UK LLP for total anonymity, true?,

You will find some opinions there.

Thanks for the tips, though with Brexit and insecurity of using a firm such as rentacompany I think my only real solution is a trust.

Does anyone know any EU contries where trust formation is comparably easy?

There is no public registry of the UBO in Cyprus at this time.

Sure this may be true but they have still passed 5AMLD so it doesn't look too bright, but really thanks for the tips! Have you heard anything about how soon they will go public?

 

[CaptK]

Thanks for the tips, though with Brexit and insecurity of using a firm such as rentacompany I think my only real solution is a trust.

Does anyone know any EU contries where trust formation is comparably easy?

Gurnsey, Jersey, IOM, Seychelles and Mauritius

 

[Gediminas]

Sure this may be true but they have still passed 5AMLD so it doesn't look too bright, but really thanks for the tips! Have you heard anything about how soon they will go public?

I don't believe it will be live soon, but this is only my prediction. Bureaucracy is taking ages.

 

[Boman]

Gurnsey, Jersey, IOM, Seychelles and Mauritius

Thanks, but none are EU countries which is what I'm in need of.

I don't believe it will be live soon, but this is only my prediction. Bureaucracy is taking ages.

Alright, thanks really for the idea!


Someone who possibly have any good input on which EU country to choose for creating a trust?

 

[JustAnotherNomad]

Try Malta maybe. I don’t have any experience with that though.