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.

 

[Risehigh]

I believe it will not be something they can manage at all. To much pressure from the underworld.

So Georgia is active reporting under CRS ?

Yeah my words... ukraine has other problems (again 100.000k soldiers in front of the border) but this fact could push stronger that they join nato, and eu. Georgia is planned for 09/23 or it might get pushed to 24 (saw a newer table). Interesting to see though if they will, but georgia has a huge intend to join eu, and eu will like georgia (since its also a refugee stopping country/border country)

 

[Hamilton]

Hello everybody! Could you please update me with the full list of not CRS countries?

 

[backpacker]

So Georgia is active reporting under CRS ?

Not yet. They are preparing ...

 

[sabawolo]

Try opening a private bank account in Serbia. One big downside is SWIFT transactions outside of Serbia...

 

[hatsuri]

So does it mean if I buy Real Estate in Ukraine or Georgia, nobody will know that I own assets there apart from those governments?

 

[backpacker]

Yep same here. It seems weird. But the flag the eu flag everywhere and seem to bend over to please them but also the ppl seem to generally like the eu as well.

However, I just noticed Georgia is now in this category by 2024
URISDICTIONS UNDERTAKING FIRST EXCHANGES BY 2024 (1) whereas I was pretty certain the last time I looked at it it was under the category by 2023, meaning reporting starts from January 2022.

Seems they pushed it back one year? And then by next year, push back again one year ideally way into the future while commiting to every bs the eu demands while pocketing some sweet cash for development.

A follow-up on this one.
It seems these 1-year-"delays" are not uncommon. Just noticed that the Maldives were originally due to exchange in 2021 -> Monitoring the implementation of the AEOI Standard | READ online (see table 1.5). However, according to the newest available information -> https://www.oecd.org/tax/automatic-exchange/commitment-and-monitoring-process/AEOI-commitments.pdf they have been pushed back to 2022.

 

[JackAlabama]

So does it mean if I buy Real Estate in Ukraine or Georgia, nobody will know that I own assets there apart from those governments?

Would not bank on these govs keeping (and be able to keep) things secret.
You need to structure your life in a way this does not matter.

 

[Risehigh]

Would not bank on these govs keeping (and be able to keep) things secret.
You need to structure your life in a way this does not matter.

True, especially if you are from eu ukraine & georgia are a time game. Look forward to 2023/24/25 when eu is trying to implement them they will share /are forcex to implement registries of companies also (not even talking about the incoming eu asset registry which is planned, which will completly prevent such)

 

[hatsuri]

I do understand that they might join the EU sooner or later, but for now if I buy some assets there, EU will not know that, am I correct?

 

[openlaw]

I think useful to quote this section in commitments list as of 5th January 2022 :

DEVELOPING COUNTRIES NOT ASKED TO COMMIT AND THAT HAVE NOT YET SET A DATE FOR THE FIRST YEAR OF
EXCHANGES (41)
Algeria, Armenia, Belarus, Benin, Bosnia and Herzegovina, Botswana, Burkina Faso, Cabo Verde, Cambodia, Cameroon, Chad,
Côte d’Ivoire, Djibouti, Dominican Republic, Egypt, El Salvador, Eswatini, Gabon, Guatemala, Guinea, Guyana, Haiti, Honduras,
Lesotho, Liberia, Madagascar, Mali, Mauritania, Mongolia, Namibia, Niger, North Macedonia, Palau, Papua New Guinea, Paraguay,
Philippines, Senegal, Serbia, Tanzania, Togo, Viet Nam

 

[backpacker]

I think useful to quote this section in commitments list as of 5th January 2022 :

DEVELOPING COUNTRIES NOT ASKED TO COMMIT AND THAT HAVE NOT YET SET A DATE FOR THE FIRST YEAR OF
EXCHANGES (41)
Algeria, Armenia, Belarus, Benin, Bosnia and Herzegovina, Botswana, Burkina Faso, Cabo Verde, Cambodia, Cameroon, Chad,
Côte d’Ivoire, Djibouti, Dominican Republic, Egypt, El Salvador, Eswatini, Gabon, Guatemala, Guinea, Guyana, Haiti, Honduras,
Lesotho, Liberia, Madagascar, Mali, Mauritania, Mongolia, Namibia, Niger, North Macedonia, Palau, Papua New Guinea, Paraguay,
Philippines, Senegal, Serbia, Tanzania, Togo, Viet Nam

The list of committed jurisdictions is growing fast. Tunisia seems to be the newest candidate. On 16-November-2021 (the former list) it was still listed under "not yet set a date for the first year of exchanges".

 

[JohnLocke]

The list of committed jurisdictions is growing fast. Tunisia seems to be the newest candidate. On 16-November-2021 (the former list) it was still listed under "not yet set a date for the first year of exchanges".

it is growing fast and it won't last long before every country on earth has committed to data exchange.

 

[uplana]

we need an update to the list... new thread for 2022 / 2023 ?

 

[thirtyniner]

we need an update to the list... new thread for 2022 / 2023 ?

Totally on that! If for one side I hope Ukraine joins EU, from my personal side I hope not. This is the best jurisdisction we will find in the next few years (my hint).

 

[backpacker]

If for one side I hope Ukraine joins EU, from my personal side I hope not. This is the best jurisdisction we will find in the next few years (my hint).

Why is Ukraine "the best jurisdiction"?
This thread is about Non-CRS countries. With regards to that, Ukraine will start participating in 2023 with collection ongoing since the start of 2022.

 

[RexS9999]

I only opened a fixed deposit account a while back till it expired with ababank. I am no more banking with them. Had no problems with the bank in my time with them.

I also had an account in Cambodia. It seems it took about three weeks to open. This was years ago. Very easy.

 

[galadrel]

Been wondering, if a person is from a non-CRS country does that mean that the person can open a bank account in a CRS country and that bank would not report?

 

[bizniz]

Been wondering, if a person is from a non-CRS country does that mean that the person can open a bank account in a CRS country and that bank would not report?

Yes it does... works both ways (or neither way in fact)

 

[Bugs Bunny]

But if one was to, theoretically, open a bank account in North Macedonia (which is a non-CRS country), could one then receive paychecks/payments into that bank account continuously without having to worry about the bank reporting to one's home country?

 

[Sols]

But if one was to, theoretically, open a bank account in North Macedonia (which is a non-CRS country), could one then receive paychecks/payments into that bank account continuously without having to worry about the bank reporting to one's home country?

The bank won't report anything under CRS, but they may respond to requests for information if there is such an agreement between North Macedonia and the requesting country. I don't think North Macedonia has signed a lot of agreements that include exchange of information clauses, though, but it's something to look into. Such requests usually have to be very precise (person X with bank Y, not just a blanket request for all of person X).