The OECD is consulting until 19 March 2018 on the use of ‘residence by investment’ or ‘citizenship by investment’ schemes in a growing number of jurisdictions, which it believes are being used to circumvent the common reporting standard (CRS).
In particular, the consultation:
assesses how these schemes are used in an attempt to circumvent the CRS;
identifies the types of schemes that present a high risk of abuse;
reminds stakeholders of the importance of correctly applying relevant CRS due diligence procedures in order to help prevent such abuse; and
explains next steps the OECD will undertake to further address the issue, assisted by public input.
The OECD is consulting until 19 March 2018 on the use of ‘residence by investment’ or ‘citizenship by investment’ schemes in a growing number of jurisdictions, which it believes are being used to circumvent the common reporting standard (CRS).
In particular, the consultation:
assesses how these schemes are used in an attempt to circumvent the CRS;
identifies the types of schemes that present a high risk of abuse;
reminds stakeholders of the importance of correctly applying relevant CRS due diligence procedures in order to help prevent such abuse; and
explains next steps the OECD will undertake to further address the issue, assisted by public input.
90a1d87b-c1b5-43c3-a720-cd324830adee.tmb-editorspic.jpg?sfvrsn=1b2d0a7e_1)
