Paysera and CRS
- Thread starter randomguy
- Start date
- Status
They want to fool new customers into their business. Perhaps they are under intense pressure from competitors and losing market share.
Its not true, I asked them the same question and they answered me that the info is provided about all clients according to the CRS requirements to the LT authorities. Maybe they have meant that if you are, for example, citizen of Cyprus, then they do not provide information directly to the local Cyprus government institution.
Guys, you should not try to overcome CRS in such way. Government can get your account details through other sources if they know that you have one. You when will be in big trouble.
Be smart, structure your wealth the right and legal way or get tax free residency in other country.
About Paysera I am 100% sure they are part of CRS and share all details.
Be smart, structure your wealth the right and legal way or get tax free residency in other country.
About Paysera I am 100% sure they are part of CRS and share all details.
100% agree
Everybody paranoid and looking illegal ways. They always get caught soon or later
We are in 2020, it is not about paying ZERO taxes, but about setting up best structure and minimize them.
As I read somewhere else in this forum, pay your taxes and sleep well at night.
Everybody paranoid and looking illegal ways. They always get caught soon or later
We are in 2020, it is not about paying ZERO taxes, but about setting up best structure and minimize them.
As I read somewhere else in this forum, pay your taxes and sleep well at night.
As far as I'm aware, they provide their local STI only with the basic info - that client X opened an account, and then STIs can share that info between themselves.. But other details are normally given to the authorities only if some active investigation about that specific client starts.
is it possible that, in 2020, it's still unclear how CRS works?
Shouldn't this be explained clearly not only for the authorities but also for common citizens?
Until now, i knew (thought) that CRS info would be exchanged directly with the tax authority where the customer is tax resident and noone else.
Then i speak with $providers, and they claim banks share customer details only if one is under investigation
Finally, i read here that banks (well, in this case, an EMI) shares details with the authority where the EMI is located, and this authority will then forward the info to <???>.
Where can an︀ ultimate answer be found?
Shouldn't this be explained clearly not only for the authorities but also for common citizens?
Until now, i knew (thought) that CRS info would be exchanged directly with the tax authority where the customer is tax resident and noone else.
Then i speak with $providers, and they claim banks share customer details only if one is under investigation
Finally, i read here that banks (well, in this case, an EMI) shares details with the authority where the EMI is located, and this authority will then forward the info to <???>.
Where can an︀ ultimate answer be found?
Providers are not banks no confirm that
The Financial Institution (call it bank, emi, pp, investment traders, fund management companies,etc) have the right to share information with tax authorities, it does not mean that they always︀ do it, specially when it comes to HNWI, they always find the way to protect︁ as much as they can this clients
Also, even if there is no ''investigation'', they︂ can still share information
The Financial Institution (call it bank, emi, pp, investment traders, fund management companies,etc) have the right to share information with tax authorities, it does not mean that they always︀ do it, specially when it comes to HNWI, they always find the way to protect︁ as much as they can this clients
Also, even if there is no ''investigation'', they︂ can still share information
If you look around and read some of the many threads about EMI's and sharing Information you find the same answer over and over again. Most don't share yet but soon they will.
Some say they don't share and will not share to fool "new customers into the shop" and don't really care about the future.
Some say they don't share and will not share to fool "new customers into the shop" and don't really care about the future.
I agree too. Our Paysera experience: We had a business account at Paysera. Although we filled out the KYC form during the first registration, the money on the account was restricted after 1000︀ USD. Account remained closed for 30 days. we have become unable to do our job.︁ Our customers sent money to our paysera account. But we couldn't take the money. I︂ sent the same KYC form we gave a year ago many times. They did not︃ unblock our account again. After a lot of emails, our account opened 1 month later.︄ We became victims. We have tax numbers in 3 EU countries. Paysera excuses KYC and︅ runs the money for a long time. When they said we would complain to the︆ EU consumer rights agency, they opened our account. All emails are available as evidence. I︇ recommend you stay away.
- Status