CRS and Offshore Comapnies

[Hassan]

Dears,

We all know about CRS law and how things will be reported.
I have an important question, Suppose that i have an Offshore company with Nominee Director and Nominee Shareholder, For me , I will be the Ultimate Beneficiary Owner of company.

Does CRS will affect me as UBO ?

Please help to explain things.

BTW:: Sorry for my English language is not that good.

Thanks for everyone.

 

[Samuel Newman]

Hi Hassan,
for sure, it will affect you
CRS directed on UBOs, nobody really cares about nominees

It can be avoided if nobody knows that you are UBO (in that way you will need nominee director to negotiate with the bank for account openning)

Also, you may find bank out of CRS zone, for example, in US, Puerto Ricco, American Virgin Islands etc.

 

[Hassan]

Hi Hassan,
for sure, it will affect you
CRS directed on UBOs, nobody really cares about nominees

It can be avoided if nobody knows that you are UBO (in that way you will need nominee director to negotiate with the bank for account openning)

Also, you may find bank out of CRS zone, for example, in US, Puerto Ricco, American Virgin Islands etc.

Hello Sameul,
Thank you very much for such clarifications.
What about processors like LeuPay and others, Do they deal with UBO like banks or should nominee director register and do everything ?
Thanks a lot

 

[Samuel Newman]

Hello Sameul,
Thank you very much for such clarifications.
What about processors like LeuPay and others, Do they deal with UBO like banks or should nominee director register and do everything ?
Thanks a lot

for now, I am not sure that EMIs like Leupay make reports by CRS
somebody from the forum has contacted Revolut about this issue, and they told that they do not report at that time

anyway, you will need your nominee to pass verification procces on Leupay (if you need to find such nominee service you may use my signature or PM me)

 

[W4rhol]

I just ask to my EMI (Money Polo and Ecopayz) and at that time, they do not report at that time too, but the things can change quickly they said.

@Samuel Newman Could you PM please ? I have some question to ask you. Thanks

 

[Verified Anony]

@Samuel Newman
PM me please!