EU: Any way to have no UBO or avoid its publication?

[Macy]

Hi forum members. Here's my situation:
- I am a citizen of the EU; I do not reside in the EU.
- I need to create a company in the EU. It does not need to be a subsidiary of my foreign company, but it can be. It should not be a branch.
- I do not particularly care what EU country it will be in, its taxation, etc.

I will hire a real director based in the country who will be conducting the management and will be listed there. Now, the main problem - what/who will be the shareholder?

If I just use my generic foreign company, I will have to disclose myself as the UBO publicly because I own 100% of it. I want to avoid this. I know that, for now, Cyprus doesn't yet publish the UBO but the public register is meant to be live by the end of the year so this solution would be way too temporary. I also completely exclude the use of darks or misdisclosure.

I want to see if there is any structure I can use where either the UBO is not published, or where the company effectively has no UBO. What I mean with the latter is if there is any option like a trust or foundation as the owner. I don't need to withdraw any money from the company and despite its turnover the company will be spending most of its funds and does not plan to have much profits or dividend distribution. So I was thinking if there can be some kind of association which really has no owner and that will own the company.

Does anybody have an idea or suggestion? I guess that some of the options might make banking a mess too.

Thanks

 

[12345]

EU company is owned by USA LLC registered in Delaware or Wyoming (no public register of shareholders) - maybe that would work for you?

 

[Macy]

EU company is owned by USA LLC registered in Delaware or Wyoming (no public register of shareholders) - maybe that would work for you?

I already have US LLCs for other purposes - for example BOI is completely fine for me. I don't have a problem with the gov getting this info but I don't want them to publish it.

E.g. if I put the US LLC as the shareholder in a Sp. z o.o. - I will have to report myself to the Centralny Rejestr Beneficjentów Rzeczywistych anyway, and then I will be listed anywhere publicly as the UBO. The US LLC doesn't provide anonimity in the case because the Polish government will require my info anyway and it will publish it for everyone - also on sites like Aleo, Rejestrio, etc.

 

[12345]

I already have US LLCs for other purposes - for example BOI is completely fine for me. I don't have a problem with the gov getting this info but I don't want them to publish it.

E.g. if I put the US LLC as the shareholder in a Sp. z o.o. - I will have to report myself to the Centralny Rejestr Beneficjentów Rzeczywistych anyway, and then I will be listed anywhere publicly as the UBO. The US LLC doesn't provide anonimity in the case because the Polish government will require my info anyway and it will publish it for everyone - also on sites like Aleo, Rejestrio, etc.

Yes in that case the government of Poland will know the UBO but it will be not publicly listed I am 100% certein. You can can check some random companies and its just the LLC name listed publicly

 

[ilke]

Yes in that case the government of Poland will know the UBO but it will be not publicly listed I am 100% certein. You can can check some random companies and its just the LLC name listed publicly

This isn't correct.

You can easily see the UBO on the Polish government site on the Wyszukiwarka CRBR. The register sites like Rejestr.io will also import this data through the API and publish the address, directors, shareholders, and CRBR information.

 

[12345]

ah ok I were not aware of Wyszukiwarka CRBR. sites like rejestr.io don't publish UBO. Just shareholders. So they would publish LLC name

so I think no country in EU is possible without sharing UBO.

 

[AlexPCS]

Hi forum members. Here's my situation:
- I am a citizen of the EU; I do not reside in the EU.
- I need to create a company in the EU. It does not need to be a subsidiary of my foreign company, but it can be. It should not be a branch.
- I do not particularly care what EU country it will be in, its taxation, etc.

I will hire a real director based in the country who will be conducting the management and will be listed there. Now, the main problem - what/who will be the shareholder?

If I just use my generic foreign company, I will have to disclose myself as the UBO publicly because I own 100% of it. I want to avoid this. I know that, for now, Cyprus doesn't yet publish the UBO but the public register is meant to be live by the end of the year so this solution would be way too temporary. I also completely exclude the use of darks or misdisclosure.

I want to see if there is any structure I can use where either the UBO is not published, or where the company effectively has no UBO. What I mean with the latter is if there is any option like a trust or foundation as the owner. I don't need to withdraw any money from the company and despite its turnover the company will be spending most of its funds and does not plan to have much profits or dividend distribution. So I was thinking if there can be some kind of association which really has no owner and that will own the company.

Does anybody have an idea or suggestion? I guess that some of the options might make banking a mess too.

Thanks

Hello. Have you ever considered using a nominee service for this purpose?

 

[PhantomOf ThePits]

ah ok I were not aware of Wyszukiwarka CRBR. sites like rejestr.io don't publish UBO. Just shareholders. So they would publish LLC name

so I think no country in EU is possible without sharing UBO.

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