What to do to start a business where I can not be traced as the owner?
I have two businesses that are working well.
I would like to start a third business that is in competition with some clients from both of those businesses. I would like to be able to create this corporation with very arm’s length links (I don’t want anyone to be able to “lookup” the owners). I need to be able to open a bank account, receive cheques, etc…
I want it to be completly legal, my worry is that if a client finds out, both businesses are shot. So lots riding on it. Any suggestions?
July 3rd, 2010 at 11:33 pm
It’s simple….I know someone that is doing the same thing. All you do is have a family member or someone you REALLY trust sign all the permits and paperwork and have the business in their name. It is going to be an agreement between you guys and no one will know you are not on the paperwork even though it is really yours. If you are there and someone starts trouble or demands to speak to the owner just say they don’t come in often and you are a manager and would be happy to take care of the situation.
July 4th, 2010 at 12:24 am
ya–don’t do it. You try to pull the car salesman scheme on people, they will get wise eventually, and you’ll lose everything. Just don’t do it.
July 4th, 2010 at 1:05 am
The LLC form can hide ownership. However, unless you are willing to let someone else be the signer on the bank accounts, you will have a problem. Also, credit decisions will be based on your credit with your personal guarantee. Bank employees talk so don’t count on confidentiality.