Privacy Without Nominees
Tempted to Use a Nominee? Caution!!!
There are many totally legitimate reasons why you don’t want your personal information available in the public record.
For this reason, many entrepreneurs and businesses have used nominee shareholders and directors in the past.
Yet, with elevated levels of global regulation, compliance and disclosure, using a nominee for your business is generally too risky and simply not worth the effort and expense for a number or reasons:
1) Do you really trust or want some random person (typically from an identified high risk country like Panama or Belize) to be the name behind your business?
2) Do you think any global bank will take the risk of opening a bank account for a nominee from a high risk country?
3) Do you think nominee service providers will tell you getting a bank account with a nominee is almost impossible (except for shady high risk banks) before you pay them?
4) Nominees professionally have their names on hundreds if not thousands of companies. What will your use of such a high risk person tell your local tax authorities?
5) What happens if the nominee disappears?
6) Do you know how much more expensive and cumbersome it can be if you decide to switch company service provider if you are using a nominee?
7) Did you know most western jurisdictions require you to disclose beneficial ownership regardless of your nominee arrangement and that includes Deeds of Trust that are typically used for nominee engagements?
Yet given the perfectly understandable desire for many to maintain a level of privacy in their business affairs, Startitup offers a far safer more practical solution. We offer our "Privacy Package" which is a hybrid dual company service that allows you to realize all the benefits of doing business with the world from Hong Kong while still keeping your personal information out of the public domain.
Our approach is 100% legal, proven and much less risky than a traditional nominee service for similar costs. In addition, we can also arrange Hong Kong business bank accounts for both companies with just one bank appointment!
If you are interested in our Privacy Package, please fill the form below for setting up a personal consultation