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The list of non CRS countries 2019 - 2023

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.
 
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If US has a Tax Info Exchange Agreement with country X, would they automatically share FATCA info with tax authority of X if a resident of X has a USD account in a country that is non-CRS?
In theory, yes, FATCA agreements are supposed to be reciprocal.

In reality, the US has very strict to enforce countries report to the US but the US isn't putting nearly as much effort into reciprocating. It's been getting better lately but there is still a lot of accounts not being reported because US banks don't prioritize it and they aren't facing any consequences for it.
 
I think this is it:
https://www.oecd.org/tax/transparency/documents/AEOI-Commitments.pdf

I am definitely no expert on this subject, and when I briefly glance at it, it seems to me that CRS is a complicated set of arrangements, with countries signing up for various aspects of it as can be seen from the following links.... as the list of signatory countries in one document do not match the list in other documents.
 
I think this is it:
https://www.oecd.org/tax/transparency/documents/AEOI-Commitments.pdf

I am definitely no expert on this subject, and when I briefly glance at it, it seems to me that CRS is a complicated set of arrangements, with countries signing up for various aspects of it as can be seen from the following links.... as the list of signatory countries in one document do not match the list in other documents.
Do not confuse CRS with MCAA. Both are completely different and have not much in common.
 
CRS rules were implemented into Ukrainian legislation by adopting the Law of Ukraine "On Amendments to the Tax Code of Ukraine regarding the Implementation of the International Standard for the Automatic Exchange of Information on Financial Accounts" No. 2970-IX dated 20 March 2023 (entered into force on 28 April 2023) (Law No. 2970-IX).

For the purposes of the CRS MCAA and CRS, the first reporting period in Ukraine is the period beginning on 1 July 2023 and ending on 31 December 2023.

Ukrainian financial institutions are required to report information on their reporting accounts to the State Tax Service of Ukraine (STSU) by 1 July of each year.
 
Algeria has strict capital controls for banks, Algerians can't get their own money out. Why would you put money in that you cannot get out? Black hole indeed.
You could be a resident of Algeria, but have personal and business accounts in Europe/North America. Then you just move money into Algeria that you need for daily life, and keep the rest outside.
 
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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.
United Arab Emirates (Dubai) qualifies too. Even though they officially participate in the CRS, this doesnt apply for their residents. So if you get a Residence Visa in the UAE, you have automatically non-CRS status. This is fact - even though not published officially.


You can get UAE (Dubai) residency by:
1. emplyoment
2. Opening your own company and getting visa under this company
3. Investment inside the UAE
4. Buying real estate:
750000AED minimum - you will get 2 years residency
if over 2 million AED you will get 10 year golden visa
 
Doesnt creating company in other country than your residency end up in creating non-csr bank acc on a company as bank acc is in same country? Via company we get residence, maybe utility bill.
Or this nuance is just wishfull thinking :D
 
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Or this nuance is just wishfull thinking :D
You want to read about CRS in the many threads around. CRS kick in where you are resident and regardless if it is a corporate or private account as long as your name is on it you get reported.
 
Doesnt creating company in other country than your residency end up in creating non-csr bank acc on a company as bank acc is in same country? Via company we get residence, maybe utility bill.
Or this nuance is just wishfull thinking :D
Just move to a territorial tax based country.

Thailand for example, you can reside within and unless you remit funds (income) into Thailand it's tax free (regardless of the companies operating revenues/profits).

Savings can be remitted tax free if you can show they were earned before 2023.
 
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