EMI no CRS
- Thread starter numibo
- Start date
- Status
Which means that I wouldn't put too much money with them. If you have a legit business and need to have real money on the account, I think Transferwise is the best bet. You can't be sure that it will work in the long run, things change fast and you will have to adapt.
What if an EMI (say, BitSafe) is registered in one country (Netherlands), and cards they issue are provided by bank from another country (UK).
Which one of them will make a CRS reporting, if any? Netherlands or UK or both?
Which one of them will make a CRS reporting, if any? Netherlands or UK or both?
Paysera, AdvCash and some of the more shady EMI's around will not report as it is right now.
I researched a little in the resource section
https://www.offshorecorptalk.com/resources/categories/emi-electronic-money-institution.5/
From there I see at least that converta, Boon and Bilderlings does not report.
Wonder if bankera and perversk are reporting @Gediminas
I researched a little in the resource section
https://www.offshorecorptalk.com/resources/categories/emi-electronic-money-institution.5/
From there I see at least that converta, Boon and Bilderlings does not report.
Wonder if bankera and perversk are reporting @Gediminas
Paysera is licensed in the EU so this means they are obliged to report. Even if their customer support tells you different, don't be misled (sometimes they don't know what they are talking about).
Bankera and Pervesk are reporting too. And all of the other EMI's with European licenses.
Bankera and Pervesk are reporting too. And all of the other EMI's with European licenses.
I have recently asked the same question to BitSafe support. They have Dutch license, so that's EU.
And they have answered me this:
"Although the Netherlands is part of the CRS agreement, Bitsafe is not a bank
and not required to do so. However, we are legally required to provide any
information that is requested by official, governmental agencies. It will always
go through the Dutch authorities and never be reported directly to any other
governmental organization.
"
And they have answered me this:
"Although the Netherlands is part of the CRS agreement, Bitsafe is not a bank
and not required to do so. However, we are legally required to provide any
information that is requested by official, governmental agencies. It will always
go through the Dutch authorities and never be reported directly to any other
governmental organization.
"
So I asked BitSafe again, and they said that they issue their own cards, and use external bank only for international wire transfers, as the Bitsafe IBAN is not connected to the SWIFT network yet.
That's why nobody will report me if not specifically asked to do it, or if a regulation changes somehow.
I'm not an expert in banking services but that sounded solid enough.
That's why nobody will report me if not specifically asked to do it, or if a regulation changes somehow.
I'm not an expert in banking services but that sounded solid enough.
This thread tells otherwise
https://www.offshorecorptalk.com/threads/emi-crs-aeoi-locations.26547/I guess there are but two ways of knowing for sure: ask a professional lawyer/accountant or try and see if you were actually reported 🙂
https://www.offshorecorptalk.com/threads/emi-crs-aeoi-locations.26547/I guess there are but two ways of knowing for sure: ask a professional lawyer/accountant or try and see if you were actually reported 🙂
Also, I have an account with Black Cat Card, that's a Maltesian EMI which DO report it's clients over CRS protocol and officially confirm that.
And they asked me for a TIN to make a report. No other EMI ever asked for a TIN. Maybe it's a sign they actually don't report as they claim.
And they asked me for a TIN to make a report. No other EMI ever asked for a TIN. Maybe it's a sign they actually don't report as they claim.
- Status