An offshore bank asks me for Tax ID of my home country. Normal?

[Waldo Roni]

When trying to open a bank in Turkey, I was asked not only about Turkish Tax ID (which I'd obtained already), but also about my home/passport country Tax ID, which is the first time an offshore bank has asked me that. I didn't open an account that time. And I wonder: will my home country Tax ID be too much information for them? Should I try other banks? Or should I try to give them one with a typo in it?

I'm not from Europe, UK, US.
And I'm not a tax resident in my home/passport country because I left many years ago. Maybe one day I'll come to visit for a week or two, if it matters.

 

[Sols]

Yes, this is quite normal. Even if you don't currently live there, they want to have it on file so that they can use it to report your bank account under CRS/AEOI in the future if necessary.

 

[Waldo Roni]

How can it be "if necessary" and do they care whether or not I currently live there? They'll report it in any case, from the get-go. No?

 

[Waldo Roni]

And why other banks, in other countries, so far have never asked me about my home country Tax Id?

 

[Sols]

How can it be "if necessary" and do they care whether or not I currently live there? They'll report it in any case, from the get-go. No?

They're probably just being cautious, but they might be reporting to your country of citizenship anyway. There's really no way of knowing for sure, without insider information at the bank.

And why other banks, in other countries, so far have never asked me about my home country Tax Id?

Every bank makes its own policies and procedures based on local laws. Some are stricter than others.

 

[KJK]

This is normal, welcome to big brother CRS world. If banks haven't asked this before, probably that was some time ago or you had none of what they call "Indicia".

Funnily enough I received an auto-generated message from a bank that for the last year they will be reporting me to four countries - two countries because I used a phone number from those two countries, one country because I used an address in that country, plus as a bonus to the USA (even though I'm not a citizen, resident or anything else there). They will not be reporting me to my country of citizenship for some reason...

 

[Waldo Roni]

two countries because I used a phone number from those two countries,

A bank always asks for a single phone number, no? How could've you used 2 ones, and from different countries?

In general, is it better, when opening an account, buy and use a local sim-card? Because the less pointers of various countries there are, the better.

 

[khinkali]

I hope I don't get asked this. I have a passport from a country where I have never had a tax id. I guess "just use the other passport", but banks tend to ask if you have multiple citizenships.

 

[JackAlabama]

This is normal, welcome to big brother CRS world. If banks haven't asked this before, probably that was some time ago or you had none of what they call "Indicia".

Funnily enough I received an auto-generated message from a bank that for the last year they will be reporting me to four countries - two countries because I used a phone number from those two countries, one country because I used an address in that country, plus as a bonus to the USA (even though I'm not a citizen, resident or anything else there). They will not be reporting me to my country of citizenship for some reason...

thats ridiculous.
But at least they are so upfront and tell you that.
And they do as much as it should be.
indicia are your address on file and the phone numbers. citizenship ONLY should NOT incur reporting UNLESS you give them indicia for being additionally a resident there.

 

[JohnLocke]

How can it be "if necessary" and do they care whether or not I currently live there? They'll report it in any case, from the get-go. No?

It does not always make sense what the banks and payment processors ask for. Sometimes they make it unnecessary complicated. I assume it is a lack of understand of the international rules.