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AEOI - Check all the bilateral agreements here for your country

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How does it work, do you mind t elaborate?

As I understand, all you get is‌ a real second passport and a citizenship of Panama. But if you live in Germany‍ you will still be liable for taxes in Germany unless you leave the country for⁠ every 183 days?
 
Sure, but how do you avoid personal tax in Germany? Germany is just an example‌ here.
 
No personal tax in Germany, because AEOI is between‍ the bank (for example SVG) and the Tax Authority (Panama).
 
AEOI will also apply for service providers of offshore companies. I don't speak about all‌ the middle mans but the large incorporation services registered directly with the governments / authorities‍ in the respective offshore jurisdictions. So f**k AEOI and forget about not to be reported,⁠ you will get badly reported today!

There will be some exceptions still, but I believe⁤ all the jurisdictions and service providers that require you to provide more than a passport⁣ and utility bill use this information to comply to International laws and pressure to forward⁢ that information!
 
@Internationaloff What is the purpose of⁠ a second citizenship in this case? I understand the residency as this is where banks⁤ will report to. But I don;t see how citizenship matters?
 
You supply your panamanian TIN when registering for bankaccount.

So the bank will report CSR/AEoI‌ to Panama (where your income is not taxed as outside Panama) instead of your home‍ country (ie Germany).

Result will be you live in fi Germany and your offshore accounts⁠ report to Panama. So no German taxman knows, and the Panamanian Taxman doesn't care.
 
It seems like there is no report for Corporate Account less than 250000$?

some informations‌ about that?
 
i would like to see some good information‍ on that to if that is true or not and what countrys it is concerns⁠
 
same here!‍ If somoene can find something from any officials it would be great!
 
This is not true banks are ignoring the‍ threshold and reporting all accounts as its far technically easier and ethical to do.
 
Will EMIs like Revolut and N26 report according︀ to AEOI as well?

If yes, does it make sense to use them for a︁ few months to do large transfer, then leave account with 0$ balance or delete it,︂ so at worst case it reports outstanding balance of 0$ at end of year?
 
But what will they report? Will they report outstanding balance at end of year? Which‌ means if you close account before end of year you are fine? Or if you‍ empty account at end of year they report 0$? When will Revolut acquire banking license?⁠ What license are they operating under now? And which EMIs do not report in that⁤ case?
 
In the case of an account closure, the Reporting⁣ Financial Institution
has no obligation to report the account balance or value before or at⁢ closure, but must report that the account was closed. In determining when an account is︀ “closed”, reference must be made to the applicable law in a particular jurisdiction. If the︁ applicable law does not address closure of accounts, an account will be considered to be︂ closed according to the normal operating procedures of the Reporting Financial Institution that are consistently︃ applied for all accounts maintained by such institution. For example, an equity or debt interest︄ in a Financial Institution would generally be considered to be closed upon termination, transfer, surrender,︅ redemption, cancellation, or liquidation. An account with a balance or value equal to zero or︆ that is negative will not be a closed account solely by reason of such balance︇ or value.
 
Right, so my plan is good then? Use an EMI like Revolut to transfer︄ a large amount of sum from exchange -> Revolut -> stock broker (interactive brokers for︅ example). Then close the Revolut account.

As a result you no longer have an UK︆ bank account (in Revolut) or if you still do it shows 0$ and 0$ balance︇ gets reported according to CRS at end of year.

From what I understand CRS reports︈ THE BALANCE at date of 31.12 and not the turnover, right?

So as long at︉ end of year you maintain balance of 0$ you are fine? Pretty much get reported,︊ but with 0$ in your account.

You might say - yeah but the account you︋ transferred to will get reported, right?

NOPE!

If you transfer to US broker and buy︌ stocks they won't report you at end of year, because US is not member of︍ FACTA, correct?
 
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