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Do Financial Institutions such as Custodial Institutions, Need to Be Supervised by a Country’s Domestic Financial Regulations to Qualify as a FI for the Common Reporting Standard (CRS)?

OECD Commentary page 159 – 160 on CRS section VIII Financial Institutions

The term “Financial Institution” means a Custodial Institution, a Depository Institution, an Investment Entity, or a Specified Insurance Company, as defined in subparagraph A(3) – (8).

Whether an Entity is subject to financial laws and regulations of a Participating Jurisdiction or is subject to supervision and examination by agencies having regulatory oversight of Financial Institutions, is relevant to, but not necessarily determinative of, whether that Entity qualifies as a Financial Institution under subparagraph A(3) – (8).

Table of Contents: Do Financial Institutions such as Custodial Institutions, Need to Be Supervised by a Country’s Domestic Financial Regulations to Qualify as a FI for the Common Reporting Standard (CRS)?

Derren works with International Entrepreneurs, Expats and Investors who are exposed to multiple jurisdictions. Tax optimization. Asset Protection. Compliance Obligations. Strategies include second citizenships, second residencies, trusts, foundations, insurance wrappers and other offshore structures.

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