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The list of non CRS countries 2019 - 2020

Mickey2266

New member
Hello
If my country has Joined the Oecd (not applied CSR yet think in 1 year) if I 0pened a broker account in the United States does the USA automatically report details to my country under FACTA?
Thanks
 

SayMyName

New member
Just FYI regarding Ukraine's participation in CRS.
Despite the fact that Ukraine is not part of CRS yet, it has signed number of treaties and agreements related to this matter, however some more has to be signed. Moreover, former Minister of Finance of Ukraine said that Ukraine is planing to automatically exchange the information starting from January 2020. Will it be like that - we can`t predict, since the government is enacting and signing number of laws in turbo regime. And i am pretty sure that there will be requirement from IMF to become a full and complete member of CRS/AEOI to receive another credit.
 

GiGoGo

I make things happen
Silver Member
From the list I would consider banking in Georgia, Kazakhstan, Cambodia.

P.S I only banked from the list so far in Cambodia and Georgia.
I heard that Cambodia is ultra corrupt country, but they use USD as unofficial second currency
 

KJK

Entrepreneur
why the "but"? Does using USD as a 2nd currency imply that a country can't be ultra corrupt?
He didn't mean it as an implication... It is just an information that the country is not completely useless because of its local (possibly depreciating) currency.

There are many similar countries that work this way, e.g. Kazakhstan - has its official currency but it is normal for larger transactions to take place in USD, rentals, real estate sales can be in USD, exchanges with good rates at every corner etc.
 

joseph15

Active Member
I have compiled the below small list for all of you to get a quick overview of what countries don't participate in the CRS (The Common Reporting Standard) which is an information standard for the Automatic Exchange of Information (AEOI) regarding bank accounts on global level, between the tax authorities, which the Organisation of Economic Co-operation and Development (OECD) has developed. It's purpose is to combat tax evasion.

Lots of information I know, but hope it helps people to understand what the list is about and how important it can be for one looking for total privacy.

here is the list in alphabetical order:
Armenia
Cambodia
Dominican Republic
Republic of Georgia
Guatemala
Kazakhstan
Macedonia
Montenegro
Paraguay
Philippines
Puerto Rico
Serbia
Ukraine
United States (Consider FATCA RULES) !!

You need to check each country as time goes since this is a ever changing world and the fact that some countries actually will be part of the CRS is a ever lasting threat.
When you say United states - consider FATCA rules, isn't this only a concern for US citizens? I thought FATCA was only about receiving information from foreign authorities, not sharing it with them.
 

kyzeur

New member
Hi all Regarding Fatca :

Since the Us are not that good for participating to international exchange information treaties to others countries they are not part of CRS AEOI etc...
However Since they are still the country with 1th Influence power and the power of the distribution and utilization of $ currency they can dict theirs rules to let say 90% of FFI ( Foreign Financial Institutions)

Why ? Because imagine a FFI that can not use $ under theirs day-to-day activities. Or the other consequence will be the retention of 30% of Turnover regarding us Activities or implication


NFFEs (Non Financial Foreign Entities), for their part, must, in the general case, certify that they do not keep accounts of American taxpayers holding at least 10% of the entity

So the rule of Fatca is simple : It concern Banks, AM, Funds etc..... even if under a 3B AUM funds there is just 10K of American stock , FATCA can take part to the game.

FFI have to report Us persons to IRS thank to KYC.

You must have to know that if you are not Russia , china or something you must need $ to do business. they have much and much and much more to loose by being not compliant to the FATCA than giving account to Us persons with privacy Foreign Account Tax Compliance Act (FATCA) 113 Jurisdictions participate under the FATCA. if not the jurisdiction may have a bilateral agreement with the us
 

unicorn

Active Member
I think FATCA means spying on US citizens money and allowing to take 30 % of bank deposits if the US should consider (or claim) that the money qualifies as "personal income". This is why banks ask : where does the money come from ? If it is from personal income but not in a tax return, FATCA allows to ceaze directly from any bank account. The banks act then on behalf of the US taxman. This is how I understood it. For non-US citizens, it is a formality with no direct consequences (unless you would eg sell US based real estate) EXCEPT that the US, through FATCA, gains access to the financial situation of ALL citizens around the world.
 

imom

New member
Can someone clarify if US banks will disclose to CRS participating countries even though they use FATCA and not CRS? I believe they will "on request" since any countries which provide data about USA citizens through FATCA the US will in exchange provide any data on citizens of those countries. So US should be removed from that list then.
 

challenge

Trusted
Fatca is already reciprocal and AUTOMATIC for non-resident aliens holding individual accounts in the USA earning more than 10$/year of interests, this is valid for countries that signed IGAs model 1A treaties.
 

goldman2020

New member
I have compiled the below small list for all of you to get a quick overview of what countries don't participate in the CRS (The Common Reporting Standard) which is an information standard for the Automatic Exchange of Information (AEOI) regarding bank accounts on global level, between the tax authorities, which the Organisation of Economic Co-operation and Development (OECD) has developed. It's purpose is to combat tax evasion.

Lots of information I know, but hope it helps people to understand what the list is about and how important it can be for one looking for total privacy.

here is the list in alphabetical order:
Armenia
Cambodia
Dominican Republic
Republic of Georgia
Guatemala
Kazakhstan
Macedonia
Montenegro
Paraguay
Philippines
Puerto Rico
Serbia
Ukraine
United States (Consider FATCA RULES) !!

You need to check each country as time goes since this is a ever changing world and the fact that some countries actually will be part of the CRS is a ever lasting threat.
I need to register UK company but need to have a panel surly for renew the company number and pay 25Pound yearly before expired can you assist?
 

bru1234

New member
Fatca is already reciprocal and AUTOMATIC for non-resident aliens holding individual accounts in the USA earning more than 10$/year of interests, this is valid for countries that signed IGAs model 1A treaties.
i heard that because you are the beneficial owner of the company, the company account is also sent to the owner country.You think that's not true?
 

ikan

New member
Back to very first page and Blueweb's original list / post.
Does exist one reverse list : which countries NOT commited AEOI & CRS ?


Today, if we extract commited countries from original list : is this up to date list ?

Puerto Rico
Ukraine
United States (Consider FATCA RULES) !!
 

Sh0w3n

Lawyer
Back to very first page and Blueweb's original list / post.
Does exist one reverse list : which countries NOT commited AEOI & CRS ?


Today, if we extract commited countries from original list : is this up to date list ?

Puerto Rico
Ukraine
United States (Consider FATCA RULES) !!
What about Georgia? Haven’t found any news that they committed to AEOI / CRS.
 

xzars

Entrepreneur

Even after a country commits to CRS, there's the second step to undertake: entering the bilateral or multilateral exchange of information agreements. It's a misconception that CRS member states will receive information from all other member states automatically. Use the link above to see if your country of residence will receive information from the country where you bank.

For example, Turkish non-resident bank accounts are invisible ghosts to 99% of countries altough they already participate in CRS AEOI.
 
Last edited:

off42

Mentor Group Gold
Back to very first page and Blueweb's original list / post.
Does exist one reverse list : which countries NOT commited AEOI & CRS ?


Today, if we extract commited countries from original list : is this up to date list ?

Puerto Rico
Ukraine
United States (Consider FATCA RULES) !!
I'm looking for it too. Who can help with the list please?
 

xzars

Entrepreneur
Roughly 50 countries have not shown a sign of interest to join CRS AEOI as of 2020. Around 140 are in, or pretty surely exchanging within a year or two. And with a dozen countries, the status is rather unclear.

I'm not sure such a list would add value to the official documents OECD publishes.
 
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