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See above excellent answer by https://news.ycombinator.com/item?id=25612615 https://news.ycombinator.com/item?id=25612615: > Tracing the beneficial owners of e
by FabHK 6y ago
See above excellent answer by https://news.ycombinator.com/item?id=25612615 https://news.ycombinator.com/item?id=25612615:
> Tracing the beneficial owners of economically-active entities (i.e. not shell companies [2]) is expensive. Imagine doing this for Apple. You would need to look through every ETF that holds it to its mutual fund owners to their pension fund owners to their holding companies to their pensioners.
- twic 6y agoThe UK version of this rule doesn't exempt large companies, it exempts small shareholders. You don't have to declare anyone who owns less than 25% of the company.
- hedora 6y agoThat makes a lot more sense. That way, to have a shell company, you need 5 owners, which is a bigger nightmare than hiring 20 employees.