3 ms·

Wasn’t there an article recently describing how you can register a company in UK through a web portal and put absolute rubbish in a UBO field without having to

Wasn’t there an article recently describing how you can register a company in UK through a web portal and put absolute rubbish in a UBO field without having to submit any single piece of documentary evidence?

skunkpocalypse 7y ago
Irrelevant -- the banks don't use that field; they are required to do their own independent UBO investigation. People don't seem to get this that "shell corporations" are only "shells" until they try to open a bank account or do anything involving money.
Havoc 7y ago
No idea what UK company registration processes look like. Possibly. You're not gonna get far moving your mountain of coin without the help of lawyers, accountants, investment bankers, banks, prime brokers etc. ...none of whom will touch you if you can't prove this stuff reasonably well. As for people submitting straight up fraudulent info - rules don't stop people like that in the same way sternly telling a mugger that it's illegal won't stop them from taking your wallet. Checks & balances sure but beyond a certain level of illegality more rules achieve nothing.
- _trampeltier 7y ago
  Analysis by Global Witness shows 87,000 properties – 40% of them in London – are anonymously owned by firms registered in tax havens https://www.google.com/amp/s/amp.theguardian.com/uk-news/2019/mar/17/100-billion-of-uk-propert-secretly-owned-anonymous-firms-tax-havens https://www.google.com/amp/s/amp.theguardian.com/uk-news/201...
  - Havoc 7y ago
    Would be curious what you (and the guardian) reckon "anonymous" means in this context? Shareholder data for private companies aren't generally publicly searchable regardless of country...(hence the "private" part)
CaptainZapp 7y ago
I think you're looking for this one[1] The UK, with their channel islands (and the BVI) are one of the biggest hypcrits when it comes to finger pointing regarding support of tax dodgers and plutocrats hiding their ill gotten gains. Another convenient vehicle to hyde (pun intended) your dirty money is real estate via a shell company in the UK, mostly in London[2] [1] https://www.theguardian.com/world/2019/jul/05/how-britain-can-help-you-get-away-with-stealing-millions-a-five-step-guide https://www.theguardian.com/world/2019/jul/05/how-britain-ca... [2] https://www.vanityfair.com/style/society/2013/04/mysterious-residents-one-hyde-park-london https://www.vanityfair.com/style/society/2013/04/mysterious-...

skunkpocalypse 7y ago

Irrelevant -- the banks don't use that field; they are required to do their own independent UBO investigation. People don't seem to get this that "shell corporations" are only "shells" until they try to open a bank account or do anything involving money.

Havoc 7y ago

No idea what UK company registration processes look like. Possibly. You're not gonna get far moving your mountain of coin without the help of lawyers, accountants, investment bankers, banks, prime brokers etc. ...none of whom will touch you if you can't prove this stuff reasonably well. As for people submitting straight up fraudulent info - rules don't stop people like that in the same way sternly telling a mugger that it's illegal won't stop them from taking your wallet. Checks & balances sure but beyond a certain level of illegality more rules achieve nothing.

_trampeltier 7y ago
Analysis by Global Witness shows 87,000 properties – 40% of them in London – are anonymously owned by firms registered in tax havens https://www.google.com/amp/s/amp.theguardian.com/uk-news/2019/mar/17/100-billion-of-uk-propert-secretly-owned-anonymous-firms-tax-havens https://www.google.com/amp/s/amp.theguardian.com/uk-news/201...
- Havoc 7y ago
  Would be curious what you (and the guardian) reckon "anonymous" means in this context? Shareholder data for private companies aren't generally publicly searchable regardless of country...(hence the "private" part)

CaptainZapp 7y ago

I think you're looking for this one[1] The UK, with their channel islands (and the BVI) are one of the biggest hypcrits when it comes to finger pointing regarding support of tax dodgers and plutocrats hiding their ill gotten gains. Another convenient vehicle to hyde (pun intended) your dirty money is real estate via a shell company in the UK, mostly in London[2] [1] https://www.theguardian.com/world/2019/jul/05/how-britain-can-help-you-get-away-with-stealing-millions-a-five-step-guide https://www.theguardian.com/world/2019/jul/05/how-britain-ca... [2] https://www.vanityfair.com/style/society/2013/04/mysterious-residents-one-hyde-park-london https://www.vanityfair.com/style/society/2013/04/mysterious-...