The list of non CRS countries 2019 - 2023

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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.
 
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Bugs Bunny

New member
The bank won't report anything under CRS, but they may respond to requests for information if there is such an agreement between North Macedonia and the requesting country. I don't think North Macedonia has signed a lot of agreements that include exchange of information clauses, though, but it's something to look into. Such requests usually have to be very precise (person X with bank Y, not just a blanket request for all of person X).
Thank you for the quick answer. I doubt there is an agreement between Macedonia and the country in question. What is required to open a bank account in a country such as this one? Usually it's proof of residence, passport, etc.
Quite frankly, I just want to fly over there right now and open an account!
 

Sols

Staff member
Mentor Group Gold
When you travel somewhere to open a personal bank account, you usually want to bring passport, proof of address, bank statements, and one or two written bank/professional references. The last two documents aren't always necessary but it's good to have.

But it's probably good if you contact banks first and ask them.
 

Candoit

New member
Why the hell would anyone think CRS will not be forcefully implemented in all jurisdictions in the next 5yrs?? Banana republics and developing countries will obviously get bullied and put on grey/black risks. Not worth the hassle.

Your local tax authority in 2027 will then ask you to show the last 5 years of bank statements.
 

Conduit

New member
Why the hell would anyone think CRS will not be forcefully implemented in all jurisdictions in the next 5yrs?? Banana republics and developing countries will obviously get bullied and put on grey/black risks. Not worth the hassle.

Your local tax authority in 2027 will then ask you to show the last 5 years of bank statements.
My accountant in the Bahamas told me 7 years ago that it was all coming to an end. That was about a year into me offshoring my activities.

Unfortunately everything comes to an end. I truly believe we will start seeing countries competing for activity-specific tax exemptions, such as Dubai’s free-zone, some countries offering special exemptions for crypto-currency HODLers and the likes, the basis of the tax-free exemption will be on specific activities which make entrepreneurial activities burdensome without a tax free basis.

In my country, we do not have TINs for either individual or business, but that will change as they impose minimum tax brackets on this formally tax-haven island.

What countries offer 0% Corporate Income Tax as of current and 2023?
 

Fred

Dubai Expat
Mentor Group Gold
Elite Member
Commercial Service
Entrepreneur
My accountant in the Bahamas told me 7 years ago that it was all coming to an end. That was about a year into me offshoring my activities.

Unfortunately everything comes to an end. I truly believe we will start seeing countries competing for activity-specific tax exemptions, such as Dubai’s free-zone, some countries offering special exemptions for crypto-currency HODLers and the likes, the basis of the tax-free exemption will be on specific activities which make entrepreneurial activities burdensome without a tax free basis.

In my country, we do not have TINs for either individual or business, but that will change as they impose minimum tax brackets on this formally tax-haven island.

What countries offer 0% Corporate Income Tax as of current and 2023?
The flagship is the Dubai FZCO when we talk about 0% Corporate Tax - currently and even in 2023.

Starting 2023 - UAE is no longer by default 0% Corporate Tax to hold against the international pressure the UAE Banks get with FATF Gray Listing.

As you ask which "Countries" offer 0% Corporate Income Tax - non basically - as the only left are some small islands like Samoa, Marshall Islands and Nevis - where you technically don't get any serious Bank Account done and even the unserious Bank Options for such Companies are passing away - see Euro Pacific Bank.

What's much more important is the personal income tax rate to be 0% which you have anyway only UAE and Monaco left - everything else is again territorial tax or specific tax exemptions for only certain activities or special agreements.

UAE is the only country holding the line for 0% CT, 0% Income Tax, 0% capital gain tax - basically 0% on all levels. Strating 2023 they introduce 9% CT on local Business within the UAE which is a necessary step to keep the decent reliable retail banking in the UAE which is now already difficult of you don't know how to handle things - if they wouldn't do that move they would be just another Seychelles.

And even when you have the funds to get a Credit Suisse Bank Account for a Marshall Island Company done - where is your personal Tax Residency with 0% tax?
 

fortunespeculator

BANNED MEMBER
What's actually reported under CRS these days?
Anything above 10000$ in the account i think.Please correct me if i am wrong.

I think BDO Philippines is a nice bank

though wouldn’t want to hold lots of money there
Phillipines is still non crs right just confirming for 2022 and can anyone tell me about Indonesia are they non crs too?I read somewhere that you could open a bank account as a foreigner there without the hassles of having an id but the amount should be 10000$ or above as deposit - something on these lines.
 
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wellington

Entrepreneur
Anything above 10000$ in the account i think.Please correct me if i am wrong.


Phillipines is still non crs right just confirming for 2022 and can anyone tell me about Indonesia are they non crs too?I read somewhere that you could open a bank account as a foreigner there without the hassles of having an id but the amount should be 10000$ or above as deposit - something on these lines.
As long as that's 'sitting' not passing through - im good with that.

If its passing through, i'm gonna keep circulating funds till i raise a credit line to drain, may as well get the benefit of CRS
 

NwWork

New member
The flagship is the Dubai FZCO when we talk about 0% Corporate Tax - currently and even in 2023.

Starting 2023 - UAE is no longer by default 0% Corporate Tax to hold against the international pressure the UAE Banks get with FATF Gray Listing.

As you ask which "Countries" offer 0% Corporate Income Tax - non basically - as the only left are some small islands like Samoa, Marshall Islands and Nevis - where you technically don't get any serious Bank Account done and even the unserious Bank Options for such Companies are passing away - see Euro Pacific Bank.

What's much more important is the personal income tax rate to be 0% which you have anyway only UAE and Monaco left - everything else is again territorial tax or specific tax exemptions for only certain activities or special agreements.

UAE is the only country holding the line for 0% CT, 0% Income Tax, 0% capital gain tax - basically 0% on all levels. Strating 2023 they introduce 9% CT on local Business within the UAE which is a necessary step to keep the decent reliable retail banking in the UAE which is now already difficult of you don't know how to handle things - if they wouldn't do that move they would be just another Seychelles.

And even when you have the funds to get a Credit Suisse Bank Account for a Marshall Island Company done - where is your personal Tax Residency with 0% tax?
@Fred Is there any way to do Dubai formations cheap? Also without need to totally cut ties from your country and move to Dubai as a resident? And doesn't Dubai have fully online based company formation with bank account etc necessary to get a business running without need to visit country for anything similiar to US or UK LLC/LTDs?
 

Fred

Dubai Expat
Mentor Group Gold
Elite Member
Commercial Service
Entrepreneur
@Fred Is there any way to do Dubai formations cheap? Also without need to totally cut ties from your country and move to Dubai as a resident? And doesn't Dubai have fully online based company formation with bank account etc necessary to get a business running without need to visit country for anything similiar to US or UK LLC/LTDs?
If your definition of cheap is 500$-1500$ like for a Seychelles/BVI Company then NO.

Which only make sense as you get along with the Dubai Company a Permanent Tax Free Residence in the UAE which again grants you the access to the banking.
 

NwWork

New member
If your definition of cheap is 500$-1500$ like for a Seychelles/BVI Company then NO.

Which only make sense as you get along with the Dubai Company a Permanent Tax Free Residence in the UAE which again grants you the access to the banking.
When you mention
a Permanent Tax Free Residence in the UAE
This only a 5 year visa which u need to keep renewing right? Also it is income tax free and as per new law around 9 percent CIT with loopholes which you have to jump through to get the earlier 0 percent right?
 

Fred

Dubai Expat
Mentor Group Gold
Elite Member
Commercial Service
Entrepreneur
When you mention

This only a 5 year visa which u need to keep renewing right? Also it is income tax free and as per new law around 9 percent CIT with loopholes which you have to jump through to get the earlier 0 percent right?
Residence Visa you get through Company Formation is valid 2 years.

The Visa get's renewed every 2 years FREE OF CHARGE - we call this our DLS Dubai VISA Free For Lifetime.

You don't need to jump loopholes to have a FZCO at 0% Tax Rate - just no local UAE Mainland Businessi ncome.
 

jafo

New member
Whats interesting is that there is only 3-4 countries on that list that I would consider banking in :oops:. This means the OECD's AEOI CRS has largely achieved its goal at this stage.
The irony here is that the OECD and its employees are tax-exempt! Imagine a guy with 1000 wives coming up to me to tell me I'm NOT even allowed to have one wife. He better know how to throw hands :)
 

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