CRS Automatic Exchange Relationships Listing - Bilateral Agreements, Etc.

[thegazelle]

Hi all, thought you may find this resource helpful. It is right from OECD.

Exchange relationships - Organisation for Economic Co-operation and Development

You can select your country and find out with what other countries they have bilateral exchange agreements. Or you can select your country and then pick another country to see if there is a bilateral agreement in place.

 

[negon]

Great share, thank you 🙂 It is getting important to know for all of us.

 

[thegazelle]

If you have looked through the list, you may have noticed that the USA is not part of CRS. It is ironic that FATCA has caused such global indigestion, and the USA are practising bullying tactics with the 30% withholding for any countries not signed on with FATCA, but when the rest of the world decided "we can play this game too" and set up GATCA/CRS, the USA has not signed on. As such, and you may have heard this elsewhere, but the USA is at the moment one of the best choices for a foreign account as long as it is not an personal interest bearing account, or if it is an interest bearing account - that it be opened up as an entity. The only caveat is that the vast majority, if not all, USA accounts require personal visit, but they don't ask a billion questions. Almost all of them have very decent website and mobile interfaces.

Now that Trump is President, it is virtually guaranteed that the USA will not join GATCA/CRS. It has been argued that even if Trump did not become President, US laws would have made it very difficult for the US to join CRS. But as it stands right now, this is good news for most folks who are considering opening an account in the US.

 

[hiju]

So what you mean is that the US started all this but now they backing out and we will have to deal with all of it 🙁 stupi#21😱

 

[thegazelle]

No, what I am saying is that the US are hypocrites...they expect everyone else to report to their citizens, but they have no desire to report on other countries' citizens that have money in the USA.

 

[hiju]

ahh that's why they made Rhino to a tax haven! very smart guys!

 

[bountymounty]

Do you know if this apply for PayPal and all other digital e-wallets?

 

[DeMajor]

thegazelle said:
No, what I am saying is that the US are hypocrites...they expect everyone else to report to their citizens, but they have no desire to report on other countries' citizens that have money in the USA.
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Excatly as they always do, they own the world. When Donald say jump everyone jumps!

 

[uplana]

nice share OP! Thanks alot 😉

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[hiju]

bountymounty said:
Do you know if this apply for PayPal and all other digital e-wallets?
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Yes it does, don't think PayPal is not going to report you.

I'm such a happy guy with my Belize company now 😀 f**k PayPal and information exchange agreements!

 

[Jay Jay]

My country isn't even on the list.

What does this means for me, then? If I open a Swiss account? I selected Switzerland as the jurisdiction and my country isn't on the list. What this means for me?

 

[negon]

Jay Jay said:
I selected Switzerland as the jurisdiction and my country isn't on the list. What this means for me?
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Switzerland is reporting as well as most other banks do. So even that your country isn't on the list then as soon as you open an account in any bank you get reported!

 

[JohnLocke]

Yeah people need to look more into the EMI accounts if they want to avoid reporting and complicated application processes.

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[Jay Jay]

auric said:
Switzerland is reporting as well as most other banks do. So even that your country isn't on the list then as soon as you open an account in any bank you get reported!
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If my country isn't on the list, then who do I get reported to?

 

[Jay Jay]

Admin said:
Yeah people need to look more into the EMI accounts if they want to avoid reporting and complicated application processes.
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Is an EMI safe to be keeping your life savings?

 

[blizz]

You find another thread here where the same was asked. You want to split your savings into 3 or more EMI accounts!

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[DirtyDexter]

are you shure that emi will not report you? advcash for example??

paypal reporting: PayPal

so if i have offshore in belize and emi account without nominee i'm safe?

 

[DirtyDexter]

and what about WaveCrest | Transforming Payment Solutions which is card issuer for advcash
they get all your verification docs (i readed this @ advcash website)

are you sure they will not report you?

 

[negon]

No one can be sure that they not get reported when using such services. As most financial services are obligated to report accounts but how they do is not clear as it seems they have not the exact strict obligations as banks have.

 

[lavel]

DirtyDexter said:
and what about WaveCrest | Transforming Payment Solutions which is card issuer for advcash
they get all your verification docs (i readed this @ advcash website)

are you sure they will not report you?
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Check this thread List of EMI and Digital Banks