Crucial changes for beneficiary owners of UK companies: government changes in legislation relating to company beneficial ownership will affect investors' privacy. Proposals for a public register of companies registered in the United Kingdom will mean providing corporate contact details may not be enough in future. In some cases, the government will require the names of individuals who benefit from the limited company. This is worrying news for investors who value their privacy.
Here at Coddan Formations Agency, we can offer advice on how the changes may affect you and ways of maintaining your privacy.
How about a trust? We can help if you are considering making a trust your company's beneficiary owner, as the rules governing privacy are different and will give you more control over how much information must be made public.
Under the new proposals relating to anti-money laundering legislation, information on individuals who own or control more than 25% of a private company's shares or voting rights must be provided to Companies House. When a beneficial interest is held by a trust, in many cases, only the trustees must be registered.
Coddan can complete the necessary incorporation and registration work on your behalf and can advise on the best trust format for your particular needs.
What about offshore incorporation? Have you considered an offshore incorporation solution for your asset protection? Coddan Formations Agency can advise on a range of offshore company formation options, the benefits being low taxation, anonymity and asset protection. In most offshore jurisdictions, registrars do not disclose details about directors, shareholders and beneficiaries.
Any company registered and incorporated offshore can trade freely within the EU, but often isn't subject to the same rules which apply to companies incorporated in the United Kingdom. What about the USA?