EMI no CRS

[Btraveler]

adv cash is belize i think they will report i am not so sure

As far as I know, Advcash, Payeer, Binance and Perfect Money are not reporting

 

[lory]

As far as I know, Advcash, Payeer, Binance and Perfect Money are not reporting

second that- AdvCash is not Belize but Russia, they hide behind a Belize IBC that may be licensed.

 

[Btraveler]

Exac

second that- AdvCash is not Belize but Russia, they hide behind a Belize IBC that may be licensed.

Exactly. A rubish mix of jurisdictions, but, in fact, they are shady russian people behind

 

[samjohnson100]

does anyone know of a good agent to register a gibraltar company? thank you

 

[karishi]

Exac

Exactly. A rubish mix of jurisdictions, but, in fact, they are shady russian people behind

Which means that I wouldn't put too much money with them. If you have a legit business and need to have real money on the account, I think Transferwise is the best bet. You can't be sure that it will work in the long run, things change fast and you will have to adapt.

 

[Igemon]

What if an EMI (say, BitSafe) is registered in one country (Netherlands), and cards they issue are provided by bank from another country (UK).
Which one of them will make a CRS reporting, if any? Netherlands or UK or both?

 

[Igemon]

Already got an answer from EMI representative. He said that their partner bank doesn't have information on retail customers, thus it can't report it.
Only EMI itself can do CRS reporting, if it does it at all, that is.

 

[kkein]

Bankera and revolut are a part of CRS tho... At least from what I red on the forums...

Bankera is, but as for Revolut, what folks are sayin in here is that they aren't reporting as of now, and there's no starting date either.

 

[dirtyharry]

Paysera, AdvCash and some of the more shady EMI's around will not report as it is right now.

I researched a little in the resource section

Unlock the Gates of Success: Mentor Group Gold!

If you see this message it means you need to upgrade your account to Mentor Group Gold to read the content.

www.offshorecorptalk.com

From there I see at least that converta, Boon and Bilderlings does not report.
Wonder if bankera and perversk are reporting @Gediminas

 

[Gediminas]

Paysera, AdvCash and some of the more shady EMI's around will not report as it is right now.

I researched a little in the resource section

Unlock the Gates of Success: Mentor Group Gold!

If you see this message it means you need to upgrade your account to Mentor Group Gold to read the content.

www.offshorecorptalk.com

From there I see at least that converta, Boon and Bilderlings does not report.
Wonder if bankera and perversk are reporting @Gediminas

Paysera is licensed in the EU so this means they are obliged to report. Even if their customer support tells you different, don't be misled (sometimes they don't know what they are talking about).

Bankera and Pervesk are reporting too. And all of the other EMI's with European licenses.

 

[Igemon]

I have recently asked the same question to BitSafe support. They have Dutch license, so that's EU.
And they have answered me this:

"Although the Netherlands is part of the CRS agreement, Bitsafe is not a bank
and not required to do so. However, we are legally required to provide any
information that is requested by official, governmental agencies. It will always
go through the Dutch authorities and never be reported directly to any other
governmental organization.
"

 

[Igemon]

My concern here were Russian authorities of course, not Dutch

 

[Jbb1]

I have recently asked the same question to BitSafe support. They have Dutch license, so that's EU.
And they have answered me this:

"Although the Netherlands is part of the CRS agreement, Bitsafe is not a bank
and not required to do so. However, we are legally required to provide any
information that is requested by official, governmental agencies. It will always
go through the Dutch authorities and never be reported directly to any other
governmental organization.
"

The actual bank that holds the IBAN will report you

 

[kkein]

The actual bank that holds the IBAN will report you

Sources pls?

 

[Jbb1]

Sources pls?

Reporting is a must in every financial institution that resides in a CRS country

 

[Igemon]

Yes, but in theory bank's client can be an EMI as a whole, not EMI's retail clients

 

[Igemon]

So I asked BitSafe again, and they said that they issue their own cards, and use external bank only for international wire transfers, as the Bitsafe IBAN is not connected to the SWIFT network yet.
That's why nobody will report me if not specifically asked to do it, or if a regulation changes somehow.
I'm not an expert in banking services but that sounded solid enough.

 

[Jbb1]

So I asked BitSafe again, and they said that they issue their own cards, and use external bank only for international wire transfers, as the Bitsafe IBAN is not connected to the SWIFT network yet.
That's why nobody will report me if not specifically asked to do it, or if a regulation changes somehow.
I'm not an expert in banking services but that sounded solid enough.

They will report you, they are an EMI controlled by the Dutch Central Bank. They are obliged to do it. The only way of avoiding CRS is opening a bank account in a non CRS country

 

[Igemon]

They will report you, they are an EMI controlled by the Dutch Central Bank. They are obliged to do it. The only way of avoiding CRS is opening a bank account in a non CRS country

This thread tells otherwise

EMI & CRS/AEOI locations

Basic question that I can’t find answer to.... Which EMI’s are located in non- CRS countries? Any?

www.offshorecorptalk.com

I guess there are but two ways of knowing for sure: ask a professional lawyer/accountant or try and see if you were actually reported

 

[Igemon]

Also, I have an account with Black Cat Card, that's a Maltesian EMI which DO report it's clients over CRS protocol and officially confirm that.
And they asked me for a TIN to make a report. No other EMI ever asked for a TIN. Maybe it's a sign they actually don't report as they claim.