Yes. Keeping a structure out of public view and reporting it to tax authorities are different things, and today's rules expect both. A company, trust or foundation can be private and still be fully reported for tax.
Privacy is not secrecy
Privacy means your details are not on public display. Secrecy means hiding them from the authorities. The rules now allow the first and remove the second. A structure's details can stay off public lists, while banks still report the people behind it to the tax authorities under CRS.
What gets reported
- Banks report accounts under the Common Reporting Standard.
- For trusts, the settlor, trustees, any protector and beneficiaries are all reportable.
- For many companies, the people who own or control them are reported.
- Each person's details go to their own country of residence.
What this means for tax planning
A structure has to work when the tax authorities in every country involved know about it. Planning that depends on information not reaching a tax authority is not legitimate planning, and no longer works. See Who is reported as the owner of my company or structure?
An example
Chiara, an Italian founder living in Dubai, holds her shares in the family business through a holding company. The company only holds investments, so her bank reports the company and Chiara as its controlling person under CRS, to the UAE where she is resident. Her name does not appear on any public list, and the tax authority has the information it needs.
Quick questions
Will my home country know about the structure?
If you are resident there, yes. Banks report controlling persons to their country of residence under CRS.
Does reporting mean more tax?
Not by itself. Reporting shows the facts. The tax depends on each country's rules.
Sources: UAE Ministry of Finance: Guidance Notes for the Common Reporting Standard.
General information as at October 2026, not advice. The examples are fictional and simplified, and the rules have conditions and exceptions not covered here. Take advice on your own circumstances, in each country involved, before acting.