Hi guys, could anyone point me to more information or enlighten me, on what is the current situation on safety deposit boxes in Europe? I want to protect myself for a limited period (just one year) against a possible lawsuit. I was looking at a lot of options, and perhaps the safest is just to withdraw all the money and just deposit it in safety deposit boxes until it clears over. Apart from advice on that strategy, could someone tell me what would happen if I would open a safety deposit box in the UK for example? Seems the most interesting option right now, with the brexit looming, so perhaps there is not that much communication.. There are many companies offering safety deposit boxes all over europe and the uk, but the best ones (that are not banks) require also proof of id and utility bill, does this mean this information also gets reported somewhere?
I do not know what kind of power civil courts have, if somehow this person gets a judgment against me in a civil court, can he use the same information the tax authorities have? I just want it to be safe from this person. And just to clarify the situation. The money right now is 100% legal, all taxes paid, there is no court order or anything, but I feel it might be coming, and I want to be ahead of the storm. I have a clear strategy, but it can only work within a years time, so I need something that gets me trough this one year period.
This requires EU member states to set up a national register of beneficial ownership information on businesses, including trusts and holders of safe-deposit boxes, to share with other members.
With Brexit looming I am not sure what this means for a box in the UK conf/(%
It's to much money for that, and i'm leaving Europe in a few months.
But the article you refered to mentions the following regarding safety deposit boxes:
"This requires EU member states to set up a national register of beneficial ownership information on businesses, including trusts and holders of safe-deposit boxes, to share with other members. Records must include information on those with a 25 per cent stake or more in the company, in case an individual may be using a business they partly or wholly own for illegal activities. This information will also be available to the public."
This applies only towards the owners of companies? Or also to individuals that do not have any companies that are a holder of a safe deposit box?
Also how would this work in practice? As we know with CRS, most small CRS countries are barely sharing any information at the moment, of course this will change over time as systems become more streamlined etc. But if I would get a judgement against you for example, how would i go about it in finding out you have a safety deposit box in country X or Y? Is there really a european register one can employ to find out this information?
Maybe keeping it all under your pillow is a better option.
I agree, safety deosit boxes are not anonymous and haven't been for years. You need to do something different or find a location which no one knows about.
This applies only towards the owners of companies? Or also to individuals that do not have any companies that are a holder of a safe deposit box?
To individuals also I believe. The reason a lot of anonymous services like Das Safe in Austria stopped offering anonymous safety deposit boxes.
jamescook said:
Is there really a european register one can employ to find out this information?
This is what they are building in EU. The same way all EU countries have to have a public register of beneficial owners of companies.
jamescook said:
But if I would get a judgement against you for example, how would i go about it in finding out you have a safety deposit box in country X or Y?
The same way that if you get a parking ticket in one EU/EEA state they can chase you across to another EU state. I got a parking ticket once in London and quite easily they tracked my vehicle with Swiss plates to Switzerland and sent me fine to pay. Likewise once the registers are up and running it will make asset seizure a breeze.
EU Directive 1001/2024 controls the amount of methane a human can emit via flatulence in a public space. Fines of up to 300 euro per an offense can be handed down including a 3 month jail sentence for repeat offenders and a requirement to undergo 2 years of dietary supervision upon release.
