Using "dirty" offshores as founders of more "legit" offshores? And using many beneficial owners.

[DavidS]

So after Panama Papers the offshores like Seychelles, BVI, Panama, Belize were rendered "dirty" and "shady" and basically no bank will open account for them.

BUT... what if you use them only at the ROOT?

So let's say one registers 2 Belize/Seychelles offshores.

Then uses those 2 offshores to register a third UK LLP company (50% shareholder each).

Then that UK LLP incorporates a German company for example.

Wouldn't that be a good solution to obfuscate beneficiary and make the german and UK companies appear more legitimate so they can get bank accounts and stuff?

Or will this all thing fall apart the moment the financial institution (bank) asks for beneficiary owner of the Belize offshores.

What if it is 3 offshores with different beneficiary owners? At which moment are they not required to inquire and report? If there are many beneficiary owners wouldn't that make reporting problematic?

 

[Marzio]

Or will this all thing fall apart the moment the financial institution (bank) asks for beneficiary owner of the Belize offshores.

Yes

 

[Silvio]

Banks will ask to know the UBO = ultimate beneficiary owner

 

[DavidS]

Banks will ask to know the UBO = ultimate beneficiary owner

Ok, what if we have 3 ultimate beneficiary owners for each company?

Weren't there some methods where if there are 4 holders they are not reported (each holds under 25% shares)?

 

[Tamarind]

You can't hide, forget it, unless you go the Trusts way.

 

[DavidS]

You can't hide, forget it, unless you go the Trusts way.

So how would trusts structure work then?