Question Offshore company pre-move, tax-resident in Italy. CRS issues?

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Hello everyone, a few days ago I posted here to ask if it was safe to open an offshore company in Estonia or Cyprus, while temporary remaining tax resident in Italy, then after the business will start to generate money (the plan is less than one year) I would move to the chosen country to get the tax residency there.

There is only one big problem CRS!

I am pretty sure that it will be really difficult for Italian tax authorities to find out about my company in a few months, especially if I will not generate a lot of money, and if I will not withdraw any amount from my corporate bank account.

The problem is the bank account itself, after reading a lot of posts here I started to understand that all EMIs are basically in the CRS net, they will ask my personal tax residency and they will automatically report me to Italy if this is true my idea has no chance to work, has it?

Do you know if there is a workaround for this situation?

Do EMIs automatically report also business accounts?

Thanks, guys!

 

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Actually most EMIs do not report automatically under CRS, just the ones with a banking license do such as Revolut. I think you should be fine for now with a Wise account for instance, they don't report... yet.

 

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Actually most EMIs do not report automatically under CRS, just the ones with a banking license do such as Revolut. I think you should be fine for now with a Wise account for instance, they don't report... yet.

Revolut started to automatically report, Transferwise ask for your residency, plus these companies will start to close your account or ask for more info when you start to move more money.

I think I will turn my Individual company (freelance) in Italy into a company that allows me to trade physical items, and then I will close it.

I don't trust these EMIs SCAMMERS