Georgian banks dont really request for the tax ID, so basically they wont have anybody specific to report about.
They might ask for the ID later down the road (if CRS starts taking force in there) but I guess at this stage people can breathe safely.
Georgian banks dont really request for the tax ID, so basically they wont have anybody specific to report about.I heard about Germans (I don't know such fools personally) who only open a bank account in Georgia to hide their money there because they think: No CRS and reporting, my money is invisible.
I bet my a*s they will get in trouble in some years. Such fools are also hurting in long term the reputation of Georgia and their banking sector... so I would rather say it is in long-term interest for Georgia to be a little bit more transparent.
Somewhere else I've read that Georgia already signed CRS but it is only not applied nowadays.
Also don't forget about cooperation on manual look up and information exchange which is also often written in double tax treaties. It's no automatic exchange but some people also forget about that.
Georgian banks dont really request for the tax ID, so basically they wont have anybody specific to report about.
They might ask for the ID later down the road (if CRS starts taking force in there) but I guess at this stage people can breathe safely.
Yeah rightI’ve been always wondering if asking the tax ID explicitly is really necessary to track someone down. Technically, your passport number should be sufficient for the government of your country to get all information about you, including the tax ID.
I’ve been always wondering if asking the tax ID explicitly is really necessary to track someone down.
Is it possible to open an account for a Georgian company in CIM remotely?I'm postive. I've opend myself for 3 companies in last 3 months.
Trading
Ship management
Logistic
Yes. But from November CIM will demand all clients to have/create economic substance in the country of registrationIs it possible to open an account for a Georgian company in CIM remotely?
Yes. But from November CIM will demand all clients to have/create economic substance in the country of registration
can we open an account for a BVI company with CIM Bank if we setup something with conomic substance, what does this term covers?Yes. But from November CIM will demand all clients to have/create economic substance in the country of registration
Yes that’s what we knew from CIM Bank manager for already a month . Plus they already requested to present substance to one client of ours.Is this what CIM had said to you? Thats an interesting development I guess.
can we open an account for a BVI company with CIM Bank if we setup something with conomic substance, what does this term covers?
Even as far back as 2016 CIM did not take any offshore companies. The list of countries they gave me only had RAK listed and rest where typical onshore stuff. My banker there also warned me they typically dont have any clients greater than 600,000 chf in size. Maybe things have changed now.can we open an account for a BVI company with CIM Bank if we setup something with conomic substance, what does this term covers?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?