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Anonymously buying a business

  • 14-04-2019 11:02am
    #1
    Ken.
    Closed Accounts Posts: 12,898 ✭✭✭✭


    Totally hypothetical.

    I win the lotto. €10m. I want to buy the local pub cause I think I can do a better job of it.

    I don't get on with the current owner.

    Could I buy this business without anyone ever knowing I brought it(at least till after the sale went through).?


Comments

  • #2
    Rows Grower
    Registered Users, Registered Users 2 Posts: 8,576 ✭✭✭Rows Grower


    Nosnon wrote: »
    Totally hypothetical.

    I win the lotto. €10m. I want to buy the local pub cause I think I can do a better job of it.

    I don't get on with the current owner.

    Could I buy this business without anyone ever knowing I brought it(at least till after the sale went through).?

    Of course you could.

    "Very soon we are going to Mars. You wouldn't have been going to Mars if my opponent won, that I can tell you. You wouldn't even be thinking about it."

    Donald Trump, March 13th 2018.



  • #3
    Charles Ingles
    Banned (with Prison Access) Posts: 1,180 ✭✭✭Charles Ingles


    Nosnon wrote: »
    Totally hypothetical.

    I win the lotto. €10m. I want to buy the local pub cause I think I can do a better job of it.

    I don't get on with the current owner.

    Could I buy this business without anyone ever knowing I brought it(at least till after the sale went through).?

    No. Word always gets out, why don't you give me the cash I'll buy it for you


  • #4
    punisher5112
    Registered Users, Registered Users 2 Posts: 24,644 ✭✭✭✭punisher5112


    Set up a company under this company then buy....


  • #5
    Ken.
    Closed Accounts Posts: 12,898 ✭✭✭✭Ken.


    Charles Ingles wrote: »
    No. Word always gets out, why don't you give me the cash I'll buy it for you

    For a nominal fee of course. To cover expenses. Fact finding missions to Bermuda all round.:D


  • #6
    Atlantic Dawn
    Registered Users, Registered Users 2 Posts: 85,047 ✭✭✭✭Atlantic Dawn
    GDY151


    Can easily be done, plenty of property companies registered in Isle Of Man, Bermuda etc through a long string of shell companies that make establishing actual ownership difficult. Current owner likely to not care especially if he is selling the pub now for X million and some mysterious buyer offers him X millon + 10%.


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  • #7
    Charles Ingles
    Banned (with Prison Access) Posts: 1,180 ✭✭✭Charles Ingles


    Nosnon wrote: »
    For a nominal fee of course. To cover expenses. Fact finding missions to Bermuda all round.:D

    Did you really win 10 million?


  • #8
    Avatar MIA
    Closed Accounts Posts: 6,750 ✭✭✭Avatar MIA


    Or purchase through an agent.

    But what you'd be doing buying a pub if you'd €10m is anybody's guess.

    And anyone, unless they have relevant experience themselves, thinking they'd make a better businessman than an existing one is likely not to have much of their lotto win 10 years hence.


  • #9
    Ken.
    Closed Accounts Posts: 12,898 ✭✭✭✭Ken.


    Charles Ingles wrote: »
    Did you really win 10 million?

    Not likely. I don't do the lotto. I was just wondering was it possible to buy a business without the current owner knowing its you.


  • #10
    gozunda
    Registered Users, Registered Users 2 Posts: 18,996 ✭✭✭✭gozunda


    Engage a solicitor - let them deal with the sale. You don't have to get involved directly.


  • #11
    Ken.
    Closed Accounts Posts: 12,898 ✭✭✭✭Ken.


    Cool. cheers for the info. Been bugging me for ages to know if it was possible.


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  • #12
    nuac
    Registered Users, Registered Users 2 Posts: 6,769 ✭✭✭nuac


    Regarding a pub, Gárdaí will want to know the identity of the purchaser,
    The transfer of the licence will not be confirmed in the local district court unless AGS know who is the actual purchaser and who will control it


  • #13
    Rows Grower
    Registered Users, Registered Users 2 Posts: 8,576 ✭✭✭Rows Grower


    nuac wrote: »
    Regarding a pub, Gárdaí will want to know the identity of the purchaser,
    The transfer of the licence will not be confirmed in the local district court unless AGS know who is the actual purchaser and who will control it

    But surely the AGS would not insist on the seller knowing who was the new owner?

    "Very soon we are going to Mars. You wouldn't have been going to Mars if my opponent won, that I can tell you. You wouldn't even be thinking about it."

    Donald Trump, March 13th 2018.



  • #14
    Ken.
    Closed Accounts Posts: 12,898 ✭✭✭✭Ken.


    nuac wrote: »
    Regarding a pub, Gárdaí will want to know the identity of the purchaser,
    The transfer of the licence will not be confirmed in the local district court unless AGS know who is the actual purchaser and who will control it

    Ok, I just picked pub cause everyone knows a pub. So as long as its a business that doesn't need a licence like a pub or off licence it could be done anonymously?


  • #15
    BrokenArrows
    Registered Users, Registered Users 2 Posts: 7,515 ✭✭✭BrokenArrows


    Nosnon wrote: »
    Ok, I just picked pub cause everyone knows a pub. So as long as its a business that doesn't need a licence like a pub or off licence it could be done anonymously?

    It could be done but as with any sale there will be paperwork and if the old owner really wants to find out who is behind the purchase they could find out.

    Some basic hiding would be to purchase the property via a business that you create. However the owner would then just need to lookup who started that business.

    You could make this more difficult by a business creating a business and creating a business etc. So you are only the owner in a long chain of businesses.

    Probably easier just to legally change your name until the sale goes through and then change it back. haha.


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