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I have asked paypal: Business account reported to where business resides. Personal account reported to where the individual resides.

I have asked Paypal. They told me the CRS reporting procedure was different for People and Companies. Business account: Reported to where the company resides Personal account: Reported where the paypal account owner resides.

It looks like the Automatic exchange reporting is similar for banks and Paypal. It means that in order to be safe, people should open a business Paypal account rather than a personal or premier (boosted personal) account.

I have found a page from Paypal describing exchange of information from Paypal with governments. Be free to tell me what you think about it... PayPal

Hi, I have a company in Ireland and i have discovered my secretarial company that is responsible for my registered office address isn't opened every weekdays (perhaps only opened 3 days per week). Also, they didn't forward very important mails without me contacting them. So, i am concerned...

1. I am surprised that i was not clear in my past message. In order to reinsure you, i would like to rephrase. According to the Common Reporting System guidelines, there is no automated reporting. The financial entity has to send an email or a mail to the customer first to confirm his tax...

Chakka at the bottom of their homepage you can read: "The Payoneer Prepaid MasterCard card is issued by Choice Bank Limited, Wirecard Card Solutions Ltd ("WDCS") WDCS is authorised by the Financial Conduct Authority to conduct electronic money service activities under the Electronic Money...

I have found online the reporting guidelines sent to the banks. They state that every year, a message should be sent to bank customers to confirm their tax residency address. Consequently, i am sure that if Choice bank reports firstchoicepay customers, they will have to send you a message...

I don't refer to company country, i know it is possible to open a Payoneer account for a belize company but then, it is not possible to link the payoneer account to a bank account in Seychelles, BVI, Belize, St Vincent (like europacific).

@ponyphony you are totally right it is not easy because payoneer does not accept bank accounts from BVI, Cayman, Belize. They only accept Bank account from Panama, Gibraltar, Hong Kong. Furthermore if someone sends you money to payoneer by credit card (payment request service), this person has...

Someone sent me $25 to my payoneer account using credit card (payment request service from payoneer). Guess what? This person received an email from payoneer asking for ID and other papers for $25. Consequently, it is not possible to use it to get paid by customers through payoneer. Dear...

Auric, about adult business, not anymore. Payoneer has created firstchoicepay dot com for adult business. It is like payoneer but you can't get paid from Iban, ach you must choose to get paid either by topping a firstchoicepay mastercard or by transfer to bank account.

I have discovered that Payoneer does not accept bank transfer from bank account owned by individuals and payment from credit cards owned by individuals if it is for a Payoneer company account. Let's say you have a business payoneer account from your Cyprus company. You send a payment request...

@auric it is a requirement from the common Reporting standard. I know it because i have two banks in two different countries and both of them explained to me that according to the Common reporting standard (CRS), they have to contact their customers and ask them to confirm their residency. Here...

If an email is sent from payoneer to check your tax residency, then you can decide to close the account or to organize yourself for the next tax reporting.

for your information i have posted the question on the payoneer community forum but no one answered me yet. I also sent the question to their support team. If they have to report the accounts they will have to contact every user every year and ask them to confirm their TIN and their residency...

@Talyn I would like to tell that Tax lawyer are useless. They give a fake impression of safety. I have been to several tax lawyers already and i had 3 versions of the same story with cross border transfers. So, then , i decided to read the law myself and i had a 4th version ! I understood that...

In the context of Belizean company, there is no corporate tax. Consequently, spending money from a credit card owned by a Belizean company does not have any risks as the Belizean government does not recover money for this Belizean company. In high tax countries, tax authorities are not...

i just wanted to mention that if you have a company account at payoneer or firstchoicepay, even if it is reported to your local tax authorities, the local tax authorities can't prove anything because there is no bank transfer to your country of residence. Also, you can use the payoneer credit...

There are two kind of accounts that are tremendously different from each other individual and company. If you open a company account (which requires a bank transfer), your local tax authorities will have difficulties asking you for money. For instance, if the company is from Belize or BVI, and...