How to Avoid CRS - 3 Options as of 2019 - 2025

[JustAnotherNomad]

To avoid CRS you need to be a digital nomad

You can’t avoid CRS by being a digital nomad.

 

[Walter Rowe]

i use north cyprus last 3 years no problem at all, any not so many other options on the table
if any i would like to ear about that

Which bank ?

 

[rey skywalker]

i use north cyprus last 3 years no problem at all, any not so many other options on the table
if any i would like to ear about that

 

[rey skywalker]

sorry for wrong post, i use ZIRAAT BANK , and eurodeniz

 

[rey skywalker]

not use fotress bank and mondial they are scammers this is true

 

[Piano]

sorry for wrong post, i use ZIRAAT BANK , and eurodeniz

do you have personal or business account ?
are you European citizen ?

 

[ImKing]

You can’t avoid CRS by being a digital nomad.

why not, if I'm not tax residence or I'm tax residence in Somalia they won't hurt me at all?

 

[JustAnotherNomad]

why not, if I'm not tax residence or I'm tax residence in Somalia they won't hurt me at all?

CRS is about the address you give. You can’t tell a bank “I live in a tent somewhere, I have no fixed address.”
You need to give them an address, and that’s where the data will be reported, if that country has implemented CRS.
Sure, you can give them an address in Somalia, but that has nothing to do with being a nomad. So you can’t avoid CRS simply by being a nomad. Probably CRS won’t have negative consequences for you, correct, but then you’re still not avoiding CRS, just avoiding the consequences of CRS.

 

[Educate]

Does anyone know if CRS applies to crypto exchanges and stock brokers as well?

 

[Clip]

Does anyone know if CRS applies to crypto exchanges and stock brokers as well?

At least in HK the ones under the MSO license doesn't report to CRS

 

[daxbr]

What about interactivebrokers.com? Anyone knows if they report to CRS? US banks don't in general right?

https://ibkr.info/article/2784

 

[Educate]

https://ibkr.info/article/2784

This is really bad. Any way to avoid this? Or just best idea to use US based broker?

 

[Asiatrade]

Maybe brokers in cambodia ? No crs country. Who's now? local broker maybe

 

[Sulphur1976]

I wonder what will happen in Georgia when they join CRS in 2021.

 

[Konstanz]

I wonder what will happen in Georgia when they join CRS in 2021.

All those who had accounts and thought they are safe "avoiding crs" will be reported and end up in trouble

 

[JackAlabama]

All those who had accounts and thought they are safe "avoiding crs" will be reported and end up in trouble

isnt that eu loving shithole starting to report in 2023 and which covers data from 2022?.
Not that it would affect me, but just stating what I have read.

 

[JackAlabama]

does crypto.com report to CRS?
- - - - -

Better assume they do if they have your passport and residence data.

 

[Sulphur1976]

isnt that eu loving shithole starting to report in 2023 and which covers data from 2022?.
Not that it would affect me, but just stating what I have read.

I tried to find any information about this in the web but failed. Where did you read it?

 

[JackAlabama]

I tried to find any information about this in the web but failed. Where did you read it?

Global Forum on Transparency and Exchange of Information for Tax Purposes

An interesting take.
Georgia is part of the 43 nations which have not been blackmailed by the borg to do this but they have chosen to do it voluntarily. That tells me all I have to know about them.
Thanks to covid I could not invest there which I otherwise would have done.

 

[burden]

better a Nigerian prince

LoL

Maybe brokers in cambodia ? No crs country. Who's now? local broker maybe

It's an interesting theory, but would you trust your money to them.