The list of non CRS countries 2019 - 2023

I have compiled the below small list for all of you to get a quick overview of what countries don't participate in the CRS (The Common Reporting Standard) which is an information standard for the Automatic Exchange of Information (AEOI) regarding bank accounts on global level, between the tax authorities, which the Organisation of Economic Co-operation and Development (OECD) has developed. It's purpose is to combat tax evasion.

Lots of information I know, but hope it helps people to understand what the list is about and how important it can be for one looking for total privacy.

here is the list in alphabetical order:

• Armenia
• Cambodia
• Dominican Republic
• Republic of Georgia
• Guatemala
• Kazakhstan
• Macedonia
• Montenegro
• Paraguay
• Philippines
• Puerto Rico
• Serbia
• Ukraine
• United States (Consider FATCA RULES) !!

You need to check each country as time goes since this is a ever changing world and the fact that some countries actually will be part of the CRS is a ever lasting threat.

 

[JimBeam]

Montenegro also needs to be removed from the list (Signed 3/10/2019)
http://www.oecd.org/tax/exchange-of-tax-information/Status_of_convention.pdf

 

[bigladsmith]

Not sure that this is the same as CRS?
I if it is then it’s a bad day

 

[JimBeam]

https://www.oecd.org/tax/exchange-o...efforts-against-tax-evasion-and-avoidance.htm

 

[happyjohn]

Can someone say if Georgia on this list is still the best for now in regards to no CRS but possible to get banking and payment processing?

 

[bigladsmith]

So as expected the list of non-CRS jurisdictions gets ever smaller.

Thinking about Puerto Rico, are there more banks than just the two that have been mentioned on this forum (Euro Pacific and Stern)

 

[John M]

Serbia need to be blacklisted

http://www.oecd.org/ctp/exchange-of...efforts-against-tax-evasion-and-avoidance.htm

The problem I am currently facing is that UK banks are considering payments to Serbia as “high risk”. Barclays closed the accounts of my UK company for payments towards Serbian Banks and there are banks that simply “do not support” payments to Serbian accounts.

 

[John Spectre]

Joining to oecd is not same to CRS.
In best case, Serbia and ME could join to CRS in a couple of years. Or even could not join there.
There are few counties in OECD list that a present here, but not follow CRS for a years.

 

[John Spectre]

The problem I am currently facing is that UK banks are considering payments to Serbia as “high risk”. Barclays closed the accounts of my UK company for payments towards Serbian Banks and there are banks that simply “do not support” payments to Serbian accounts.

Its a because of sanctions, not because CRS or OECD.
But yes, a lot of banks warn about Serbia banks.

 

[Spinat]

Joining to oecd is not same to CRS.
In best case, Serbia and ME could join to CRS in a couple of years. Or even could not join there.
There are few counties in OECD list that a present here, but not follow CRS for a years.

I totally agree with that. We need to differ between OECD and CRS !

 

[ontherun]

I think you guys also need to understand how a bank's internal software handles CRS--if it even can--because it is widely known that a lot of banks just don't even have the infrastructure in place even if their country has joined CRS. I've had a look at my internal records once or twice with Asian banks and my TIN field was either empty or the number 0... c'mon

 

[JimBeam]

Its a because of sanctions, not because CRS or OECD.
But yes, a lot of banks warn about Serbia banks.

It was months ago because Serbia was on FATF (Countries - Financial Action Task Force (FATF) ) blacklist...
but since that was cleared early this year there should be no problems...

 

[John Spectre]

It was months ago because Serbia was on FATF (Countries - Financial Action Task Force (FATF) ) blacklist...
but since that was cleared early this year there should be no problems...

Correct, but in same time banks could continue to black list Serbia for a years, because their compliance usually slow as a turtle

 

[Osleak]

Ameria bank refused my application, i think they need more link with the country to open personal bank account, if you need bank there for saving and some investment abroad they will decline your application....

 

[romashkavarashka]

I think you guys also need to understand how a bank's internal software handles CRS--if it even can--because it is widely known that a lot of banks just don't even have the infrastructure in place even if their country has joined CRS. I've had a look at my internal records once or twice with Asian banks and my TIN field was either empty or the number 0... c'mon

If your TIN number was 0, this only implies one thing: it was 0. What does that have to do a) all the banks b) their capacity to do CRS?

 

[PlayItWise]

Ameria bank refused my application, i think they need more link with the country to open personal bank account, if you need bank there for saving and some investment abroad they will decline your application....

I also got rejected at Ameria Bank by opening a personal account remotely. I also wanted to use the account for saving up money, but after two days I got emailed due to provisions of internal KYC processes they cannot open one for me.

What about hiring an Armenian lawyer and letting him do the job by giving him power of attorney. Is this a safe option to take?

 

[JohnLocke]

And we are going off topic now! Please stick to the topic or I will have to delete/move threads and give warning points, I don't like that.

 

[PlayItWise]

Sorry, you can delete my post if you want. I will post in an adequate thread.

 

[Osleak]

And we are going off topic now! Please stick to the topic or I will have to delete/move threads and give warning points, I don't like that.

Sorry

 

[ontherun]

Tell us more about

Try it first-hand. At a couple of banks where you are able to, begin to slowly, and over time, request to see copies of your data. Or just walk over to the counters while renewing a card and say you want to have a look directly on their screen because you've been away for a while and you want to double-check if everything is still valid. The TIN field will have different names in different countries but from the # of times I've done this I would say seven out of ten banks would not even know where to begin to report my taxes to based on the current state of my account with them... unless I myself went out of my way to provide one.

Notable exceptions being Isle of Man Bank Ltd. and China Construction Bank Ltd. whom both started pestering me for a TIN in recent years. I have still not provided IoMBank with one. CCB at some point threatened to close the account and I provided them with nine numbers picked from the sky. Not a word since.

I have a feeling people overestimate banks' own CRS capabilities, the vast majority of which do not translate one-to-one with what is published and expected of them in documents being crafted on desks in Paris or Strasbourg.

The average Asian bank clerk has no idea what her own TIN is. Let alone trying to report a foreigner's TIN to a country he/she only discovered on the map when they looked up that foreigner's passport?? come on

 

[Mickey2266]

Hello
If my country has Joined the Oecd (not applied CSR yet think in 1 year) if I 0pened a broker account in the United States does the USA automatically report details to my country under FACTA?
Thanks