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The list of non CRS countries 2019 - 2020

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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.
 
Last edited by a moderator:

Piano

Entrepreneur
If you bank with its local branch and want to use its foreign branch in an non- CRS country to avoid CRS its not a good idea from sleep well at night situation even if facts say otherwise. In general I avoiding CRS by using a non-CRS bank is not a good idea. Just relocate.
Hello Martin,

which banks/jurisdictions would you consider now to open an account ?
what about cape verde ?
 

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
which banks/jurisdictions would you consider now to open an account ?
what about cape verde ?

Any good international bank if your willing to relocate. I wouldn't bother with Cape Verde for banking.

@Martin Everson , thats for this post. I am a little late but which four countries and why ? Please elaborate a little more.

Since 2019 when post was made I would say none any longer. Covid has killed some of those countries economies and some have joined CRS since like Georgia. 2 years is a long time in offshore worlds sadly :confused:.

@Martin Everson , your banking preference, would this mean that the company exists in a different jurisdiction and the bank exists in another jurisdiction?

No not necessarily.
 

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member

Sols

Staff member
Mentor Group Gold
But there is a Double Tax Treaty between India and Nepal. Sometimes those contain clauses for exchange of information. Might not be automatic (like CRS) but upon request (like a TIEA).
 

deepsudeep

New member
Checking the OECD website and seems UAE is CRS complaint under Automatic exchange of information (AEOI) since 2018. So does offshore make sense there

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fortunespeculator

Active Member
Nepal, I just question what are you setting up in Nepal that could work international?
If Nepal is non crs then opening bank account should be fine which will not be reported to India. Because for Indians it is possible to stay 150 days continuously in Nepal without any visa. :p. A cheap offshore destination to bank maybe.

If Nepal is non crs then opening bank account should be fine which will not be reported to India. Because for Indians it is possible to stay 150 days continuously in Nepal without any visa. :p. A cheap offshore destination to bank maybe.
A person having seychelles ibc - wont it be a perfect place to stash some cash in Nepal ?
 

Admin

Forum Moderator
Staff member
If Nepal is non crs then opening bank account should be fine which will not be reported to India. Because for Indians it is possible to stay 150 days continuously in Nepal without any visa. :p. A cheap offshore destination to bank maybe.
Not bad finally there is a loophole spotted here for our fellows in India. Not bad, I always was in the believing India had a tight chain around the balls of their citizens.
 

fortunespeculator

Active Member
Not bad finally there is a loophole spotted here for our fellows in India. Not bad, I always was in the believing India had a tight chain around the balls of their citizens.
Yes they do and thats why i am trying to find something of value.I think this could be a good start.I Invite others to share their comments and thoughts.
 

Piano

Entrepreneur
for the first question, yes! I know some reputable people who work at companies that work with international clients and have a vast networking and local knowledge within Egypt. for a start you can take a look at (Andersen Egypt - Maher Milad Iskander & Co.) or (Levari Law Firm | Cairo, Dubai, London).

Personal accounts are guaranteed. for corporate accounts, Yes, they will accept you. But you may have to have a local nominee director (but that's not always the case). So, it depends on what kind of business you're into!. but don't worry 99% you'll have both corporate and personal bank account!. your nationality won't matter, but I can say that you have an advantage not a disadvantage being European when dealing with Egyptian banks.

Please come here and update as if you go through with this setup!

cheers
Any idea about prices for opening personal and corporate accounts ?
You have accounts yourself ?
 
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