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Does "turning into a real business" mean "making money"? If so, how do you expect to anonymously receive funds from the app store (or any other payment service

Does "turning into a real business" mean "making money"? If so, how do you expect to anonymously receive funds from the app store (or any other payment service provider). The only way you could remain (externally) anonymous and comply with all the AML/KYC and other legal, corporate and service requirements (including taxation, etc) would be to have a company with a nominee director.

yieldcrv 4y ago
You don't need a nominee director you just need the better jurisdiction. Several US states do not list directors or the names of anyone involved with the company, publicly. Some states don't have that information at all.
- Havoc 4y ago
  Not sure I’d consider anonymous corporate entities “better”…
  - eyko 4y ago
    Better for the intended purpose
  - yieldcrv 4y ago
    You're the only one that read that. The jurisdiction is better because it has more features, and those features are applicable to a broader audience. Additional features = better, less features = worse. You don't have to chose any specific feature of the jurisdiction yourself, like forming an anonymous corporate entity. You can [typically] form one that gives out all of your information in those places too.
- supermatt 4y ago
  How does that work for AML? Not having to disclose UBOs it seems like you wouldnt be able to even open a bank account. EDIT: seems you still have to disclose UBOs for IRS, banks, subpoenas, etc with these "anonymous LLCs" - unless you also use a nominee
  - yieldcrv 4y ago
    It depends on what level of anonymity you want. There are about 3 or 4 levels 1) anonymity to the public and search engines 2) anonymity to the app store platform and most of the private sector 3) anonymity to the state, banking and legal 4) anonymity to intelligence community the business entity as I described satisfies 1) and 2). its not really clear to me that a nominee director legally satisfies 3), AML has always required decision makers and ultimate beneficial owners (UBO) to be the ones that financial institutions have records of, and the IRS requires that the UBO report it on their tax. If your criteria for 3) does not require strict adherence to legal, then there are plenty of other things you can do as well. and if you aren't needing to list on "App stores" or use financial institutions, then 3) isn't necessary at all

yieldcrv 4y ago

You don't need a nominee director you just need the better jurisdiction. Several US states do not list directors or the names of anyone involved with the company, publicly. Some states don't have that information at all.

Havoc 4y ago
Not sure I’d consider anonymous corporate entities “better”…
- eyko 4y ago
  Better for the intended purpose
- yieldcrv 4y ago
  You're the only one that read that. The jurisdiction is better because it has more features, and those features are applicable to a broader audience. Additional features = better, less features = worse. You don't have to chose any specific feature of the jurisdiction yourself, like forming an anonymous corporate entity. You can [typically] form one that gives out all of your information in those places too.
supermatt 4y ago
How does that work for AML? Not having to disclose UBOs it seems like you wouldnt be able to even open a bank account. EDIT: seems you still have to disclose UBOs for IRS, banks, subpoenas, etc with these "anonymous LLCs" - unless you also use a nominee
- yieldcrv 4y ago
  It depends on what level of anonymity you want. There are about 3 or 4 levels 1) anonymity to the public and search engines 2) anonymity to the app store platform and most of the private sector 3) anonymity to the state, banking and legal 4) anonymity to intelligence community the business entity as I described satisfies 1) and 2). its not really clear to me that a nominee director legally satisfies 3), AML has always required decision makers and ultimate beneficial owners (UBO) to be the ones that financial institutions have records of, and the IRS requires that the UBO report it on their tax. If your criteria for 3) does not require strict adherence to legal, then there are plenty of other things you can do as well. and if you aren't needing to list on "App stores" or use financial institutions, then 3) isn't necessary at all