Open a bank account for someone else to use it, but it is in your name and the local tax office?


(Blonde) #1

hiya

one of my best friends lives in turkey with a low valuable passport form another country, I want to open a bank account and a online business IN MY NAME but give the bank card and online banking login and … to her to buy/sell online and I actually don’t involve in this business. I’m holding EEA passport of country A, I open a business with a company in country B(in EEA), and bank account one is in the country B and one in country C(C is in EEA). While she is using these bank accounts and business that is registered in my name but to her flat address in Turkey( as she get a proof of address in my name for her flat address in Turkey to help me proof my address to bank that she will using it from Turkey).

Now if the banks or company that I started business for my best friend, call me anytime, I can confirm that I’m doing business,… but what if my local tax office discover this bank account as my offshore bank and want to punish me for not filing it for tax return, how can I explain for them this matter that my friend is doing the business as her passport was not valuable, I opened business/bank-account in my name for her? I believe my tax office can’t do anything for shutting this business down as I’m the only one that authorize this for my friend. But what if they take me to court for having saving/current account offshore and don’t declare it? Does any law can support me from prosecution? What I’m doing is fair, reasonable and based on human-rights for supporting my friend. But how to explain this for local tax office and court(if I have taken)?

thnx


(Thomas K. Running) #2

Even though it’s a nice thing to do, you’re technically deceiving the banks by opening accounts for someone else under your name.

And yes, any accounts opened in your name will most likely be treated as yours by your local tax office. I have no idea if you would be able to convince them that the accounts are not yours. If you are the legal 100% owner of the business, I suppose you’ll have issues. If she’s the owner of the business you might have a better shot.

Anyway, it’s not a gamble I would recommend.


(Blonde) #3

Hiya,

Thnx, if she if my friend is make it different that if she may be my family member, like my mom?


(Dia Joy) #4

Brave of you to do this, but although she’s your friend, I wouldn’t mess with the banks for anyone. Anything wrong will come back to you, so just be careful.


(Blonde) #5

:slight_smile: At the end, they can ask for her tax from me, what else can they do?