Do the "main-sub" banks in different countries share information?

[karim8899]

Let's take VTB bank as an example. It's a Russian bank. It also exists in Armenia. Russia is a CRS country, Armenia isn't.

Will a VTB bank in Armenia share info with VTB in Russia if a russian citizen opens an account in VTB Armenia? I mean, any russian citizen who opens such an account. Not necessarily the russians who live in Russia permanently ”“ tax residents. But any russians.

 

[Martin Everson]

karim8899 said:
Will a VTB bank in Armenia share info with VTB in Russia if a russian citizen opens an account in VTB Armenia?
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No.

However they do have a double tax agreement (DTA) with each other. I would pick a non-Russian banking group if you have this concern. Who knows what VTB has agreed internally with its many entities around the world.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.