All those online banks, do they share info with tax institutions the same way as traditional banks?

Discussion in 'Offshore Bank Accounts & EMI Accounts' started by Jessie, Nov 7, 2018.

  1. Jessie

    Jessie Active Member

    There are plenty of "online banks" lately (i'm talking revolut, mister tango and the like) most of them operate under emoney transmitting licenses and still give you personal IBAN and in fact for everyday use are no different than actual online banking.
    That is great and all but I was wondering do they share info with tax institutions the same way as banks with banking license?

    Most of them are EU based and work usually with EU citizens. However would they report your account amounts to your local tax institution as most banks within EU would?
     
  2. negon

    negon hannibal the cannibal Mentor Group Business Angel

    You may want to search the forum a little, there are plenty of threads and post about the same already explaining that most, if not all, have to report the same way as a bank has. This means ALL financial services regardless if it is a bank or a EMI has to report.

    There was an interesting post the last day by user @anticfc here Sub-year offshore company you can see there may be a loophole.
     
  3. Jessie

    Jessie Active Member

    As much as I want and like this place I still don't have the time to read extensively.
    Actually I would be glad to hire someone to do that for me :)

    Thanks for the thread, really interesting indeed!
     
  4. negon

    negon hannibal the cannibal Mentor Group Business Angel

    LOL LOL troll¤## You seem to have plenty of time! You have posted 38 posts within 1 week, large posts.. I'm just waiting to see what happens next with the new 4 profiles here :D
     
  5. Jessie

    Jessie Active Member

    Exactly because of time restrictions I do more posting than reading. Thus crowdsourcing the knowledge :)

    Since this is not my field, i would prefer to just get answers from people that have already spend the time and are willing to share. Or be hired.