What's considered the best way to keep private the UBO in 2020?

[whereami]

And as others have mentioned here, can’t the country you’re resident in simply throw you into jail and demand you have your foundation hand over the money or they’ll keep you there forever?

If you're breaking the law and they can find you, yes.

But there are other reasons for anonymity other than breaking local laws.

If you are in the business of international commerce it can be nearly impossible to satisfy every government and every lawyer in the world.

Anonymity gives you the leverage to operate. It doesn't allow you to be a criminal but it can make international operation feasible.

 

[JohnLocke]

Anonymity gives you the leverage to operate. It doesn't allow you to be a criminal but it can make international operation feasible.

I could not agree more. Don't use such tools to break the law but use them to make business easier.

 

[djaheim]

Are you sure this still works after Panama Papers and Swiss leaks?

Swiss Banking Privacy as we know it , it's long gone.

 

[clemens]

Swiss Banking Privacy as we know it , it's long gone.

LoL I think it is obvious for @Admin but it was a leading question

You want to go the DARK's way if you can, this is the only way today to stay under the radar with the risk involved of course.

 

[Crosby3]

I am wondering how long a darks route can be kept alive.
Probably if you have company+EMI set up with credit card you can spend it on dinners/rolexes etcetera. But you would not be able to buy a house.

So I am more interested in the end game: How to transfer the money in the dark setup to a new onshore EU business without paying a load of taxes.

 

[Crosby3]

Yes, but that’s a bridge too far for me.

I would like to live a comfortable life in Western Europe and provide for my family.
When children are involved it is not so easy to pack up and leave.

 

[djaheim]

There is a

What about geting a second passport of a country like don't recognise double citizenship and change legally your name?
For example, legally applying for a residence in Panama,waiting some years(3 years for some nations) getting the citizenship and changing your name there.... That could work

There is a guy on youtube he calls himself nomad capitalist who claims he has legal ways of reducing taxes and gettting second passports etc. look him up he however does everything by the book.

 

[Crosby3]

Mmm.. looking at the female team members and the way they pose on the site it looks more like a honey trap to me :0) Off course never judge a book by the cover but statistically he has a bit too many attractive ladies working there than average.

 

[JustAnotherNomad]

Nomad capitalist is a f*****g idiot. The articles are not well researched. Lots of negative reviews about that guy.

 

[djaheim]

Mmm.. looking at the female team members and the way they pose on the site it looks more like a honey trap to me :0) Off course never judge a book by the cover but statistically he has a bit too many attractive ladies working there than average.

You cant trust a vegeterian.

 

[djaheim]

Nomad capitalist is a f*****g idiot. The articles are not well researched. Lots of negative reviews about that guy.

Wouldn't give him a dime, but he makes too much noise , so if anyone gets anyting credible from this dude maybe they can share.

 

[JustAnotherNomad]

As far as I know, NC is a marketer/introducer. He takes your money, then he gives you the contact details of his partner lawyer (who pays him a commission). He doesn’t actually offer advice - so if this stuff doesn’t work out, you can sue him.
Disclaimer: I haven’t worked with him, but if you have just some knowledge, you will see that the articles are really poorly researched. The only purpose is to make you give him your money. I bet the average person on this forum knows more about international taxes than him.
Also just go to:
Nomad capitalist scam dot Com

 

[Crosby3]

I am probably thinking too simple here but what about:

Setting up 4 US LLC companies, each in different state? (NM, NV, DE, WY)? These would in theory be anonymous, I haven't look into the details yet.
Set up a UK Ltd. with these 4 LLC's as shareholders. This would be below UBO registration treshhold.
Option 1: (Set up a friend as director and have him open a TW / EMI account for the Ltd.)
Set up a further company structure in EU with friend as director.
Option 2: (Set up a friend as director and have him open a TW / EMI account for the other EU company)

Seems to easy so that's why I check what I have missed.

 

[JustAnotherNomad]

Don’t you have to disclose the UBO for the LLC’s? If it’s the same person, then you’re above the threshold again?

 

[Crosby3]

Don’t you have to disclose the UBO for the LLC’s? If it’s the same person, then you’re above the threshold again?

Yes, that is the let's say dark grey area of the structure.
I assume if you can not trace the UBO, the person highest rank in company becomes pseudo-UBO. That means the director would be UBO on paper.

"New Mexico Anonymous LLCs have the strongest privacy. New Mexico is the only state that does not require disclosure of the owners of an Anonymous LLC to the state"

 

[djaheim]

I did a quick search, and I couldn't find any jurisdiction with real bearer shares:
- Cayman Islands, abolished
- Belize, abolished
- Nevis, abolished
- Panama, abolished
- Antigua, resident agent keeps registry or pays $50.000 in fine
- Seychelles, abolished

Bearer shares as we know them are dead. even jurisdiction that have them are compiling a register for owners. Las time i checked, only Vanuatu had them. So look there if you interested

 

[AndersonDrew]

Bearer shares as we know them are dead. even jurisdiction that have them are compiling a register for owners. Las time i checked, only Vanuatu had them. So look there if you interested

Marshall Islands was the last one of these. I think in 2018 they abolished it after giving in to high tax countries. It was difficult to open up an account with them.

 

[blockchain4ever]

"New Mexico Anonymous LLCs have the strongest privacy. New Mexico is the only state that does not require disclosure of the owners of an Anonymous LLC to the state"

So their idea is to make the keeper of the registry a law firm and use attorney-client privilege to keep it confidential? I have my doubts, but if it works in the US, it could work in other offshore jurisdictions. It would probably not be confidential to the IRS, and the IRS would share with other jurisdictions in case of a non-US owner. It would be interesting to know what case law exists for this in the US.

 

[justnew]

So their idea is to make the keeper of the registry a law firm and use attorney-client privilege to keep it confidential? I have my doubts,

can't trust anyone when it comes to tax evasion don't even the most icy gangster support lawyer

 

[AndersonDrew]

So their idea is to make the keeper of the registry a law firm and use attorney-client privilege to keep it confidential? I have my doubts, but if it works in the US, it could work in other offshore jurisdictions. It would probably not be confidential to the IRS, and the IRS would share with other jurisdictions in case of a non-US owner. It would be interesting to know what case law exists for this in the US.

Basically no law exists as US lobby is controlled by Big powerful banks are not going to let this sweet honey for foreign owned accounts go away simple as that. I doubt you have any worries until the US gets someone like Bernie Sanders and I doubt he would be President of USA.