WY LLC - whats the point with anonymity?

[jahoda]

Hey guys.
Trying to figure out whats the point of hiding the name etc. for company which you own.
Yes, I understand the public registry issues but that is a thing in EU for ages (names and addresses publicly available).
So my question is - when forming WY LLC, would it be beneficial to use own name somewhere? Certainly, the address should be WY agent address but...
Would it have any pros when opening bank account or so?
Yes, there is another discussion on this topic but full of crap (with all respect though).

 

[daniels27]

Yes, your name will be in the operating agreement. And you also have then EIN letter to prove ownership/directorship.

 

[jahoda]

but operating agreement is not publicly accessible in any case, correct?

 

[koohl]

Hey guys.
Trying to figure out whats the point of hiding the name etc. for company which you own.
Yes, I understand the public registry issues but that is a thing in EU for ages (names and addresses publicly available).
So my question is - when forming WY LLC, would it be beneficial to use own name somewhere? Certainly, the address should be WY agent address but...
Would it have any pros when opening bank account or so?
Yes, there is another discussion on this topic but full of crap (with all respect though).

What thread are you referring to ?

No, the operating agreement for a Wyoming LLC is not public.

The fact that it has been possible in the EU to look up all data on company owners and the like for many years, if not always, doesn’t exactly make it better. It was one of the reasons why I personally sought other ways to avoid it.

 

[ilke]

but operating agreement is not publicly accessible in any case, correct?

Correct. If you're asking whether having your name published (by doing filings yourself) helps with bank accounts, not really. I don't think your registered agent is a priority of banks. You will prove that you own the LLC with the operating agreement and potentially some other internal documents.

 

[fighthorse]

Hey guys.
Trying to figure out whats the point of hiding the name etc. for company which you own.
Yes, I understand the public registry issues but that is a thing in EU for ages (names and addresses publicly available).
So my question is - when forming WY LLC, would it be beneficial to use own name somewhere? Certainly, the address should be WY agent address but...
Would it have any pros when opening bank account or so?
Yes, there is another discussion on this topic but full of crap (with all respect though).

Any bank account or EMI you try to open there will be your name anyway, unless you use a full fletched nominee solution which I wouldn't recommend.

 

[jahoda]

Any bank account or EMI you try to open there will be your name anyway, unless you use a full fletched nominee solution which I wouldn't recommend.

yep, thats exactly it… I am asking because there are plenty of threads here saying they dont want to be on public registers (which is pretty common in EU as I wrote)… so I was just curious what is the reason. And I see that there is almost none

 

[EliasIT]

Any bank account or EMI you try to open there will be your name anyway, unless you use a full fletched nominee solution which I wouldn't recommend.

yep, thats exactly it… I am asking because there are plenty of threads here saying they dont want to be on public registers (which is pretty common in EU as I wrote)… so I was just curious what is the reason. And I see that there is almost none

There can be many advantages to not having your name in any public register. For example, if you go bankrupt, anyone can look you up on Google and other registries to see that you've gone bankrupt a certain number of times or that your company has been forcibly dissolved, etc. This could make people reluctant to do business with you in the future.

There may also be cases where you're involved in business dealings where you prefer to keep your name private for various reasons. So, when people look up the company, your name doesn’t come up.

In these cases, it doesn’t matter if the bank knows you; the public simply cannot search for your name or your company and link them together.

 

[jahoda]

hm, this makes sense, thanks.