There are some countries, which use IBAN system for bank accounts numbering and are not members of CRS. But better than using their services is to move yout residency to the country, which is not a CRS country, or move your residency to the country which is CRS country, but has a territorial personal income tax regime.
In our experience that's not correct. All the Lithuanian EMI we already worked with told us after request that they collect the clients data for purpose of tax information exchange. Only few collect really the TIN but all mentioned us they participate in exchange of informations.Lithuania doesn't participate in CRS ?
Is there source for that information ?
Lithuania doesn't participate in CRS ?
Is there source for that information ?
for now it seems safe. to e-mails with direct requests they say they do not exchange information. let's hope it's true!Is safe to use EUR (Belgium) IBAN with Transferwise? Can I get reported?
Is a TransferWise business account attached to a UK LTD
They have a web page about this https://wise.com/help/articles/2932394/how-does-tax-work-with-my-wise-account and since they are not a bank ( and making lots of money not being a bank ) it's possible that they will continue not to report.for now it seems safe. to e-mails with direct requests they say they do not exchange information. let's hope it's true!
conclusion may be like this, if they are not licensed and operate as bank, they have no obligations to report.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.
"
that's an important part of information.90% won't report you because there's no bank account opened in your name. The funds you deposit/receive are held and kept in the EMI bank account on your behalf. It is like a power of attorney that allows you to have control of your funds.
open a new thread, you are getting off topic!
So we hope you never pick the 10% that are going to report you. But you are right, many are not reporting as it is right now.90% won't report you because there's no bank account opened in your name. The funds you deposit/receive are held and kept in the EMI bank account on your behalf. It is like a power of attorney that allows you to have control of your funds.
best advise also for 2022!There are some countries, which use IBAN system for bank accounts numbering and are not members of CRS. But better than using their services is to move yout residency to the country, which is not a CRS country, or move your residency to the country which is CRS country, but has a territorial personal income tax regime.
Hi,I believe that is the truth. From all the EMI's around I trust AdvCash the most.
they don't and my believing is they won't do for the next 5 - 10 years!Do you stell feel Advcash are not reporting under CRS/AEOI?
I just asked Hong Kong based EMIs currenxie , neat, statrys. All replied that since they are technically considered neither banks nor financial institutions requiring reporting they do not report under CRS .They don't disclose UBO of any business account with them to any govt.Dear friends, I ask you two questions:
can you please tell me some EMIs that do not perform automatic exchange of information (CRS)? I am not interested in EMI with IBAN from Eastern Europe.
I know and use TransferWise, on their website they claim that they do not exchange information, but will it be true? I can trust?
Hello to all!!!
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