@Spinat i guess montenegro may be excluded from the list as per https://www.oecd.org/tax/exchange-of-tax-information/crs-mcaa-signatories.pdf
The list of non CRS countries 2019 - 2025
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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.
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This is the probably the answer to your question.
I think Armenia is out : https://www.oecd.org/tax/automatic-...-of-financial-account-information-by-2025.htm
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.
https://www.oecd.org/tax/exchange-of-tax-information/Status_of_convention.pdfhttps://www.oecd.org/tax/automatic-exchange/about-automatic-exchange/crs-mcaa-signatories.pdf
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.
https://www.oecd.org/tax/exchange-of-tax-information/Status_of_convention.pdfhttps://www.oecd.org/tax/automatic-exchange/about-automatic-exchange/crs-mcaa-signatories.pdf
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.
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.
You can check here, at least it is official : https://www.oecd.org/tax/transparency/AEOI-commitments.pdf
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.
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
You don't need to worry about CRS reporting until you become a tax resident in Monaco. due to the fact that Monaco has no taxes
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.
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If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability!
My personal favorite thread posted in the Mentor Group. Group of investment companies to avoid licensing.
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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