The OECD, working in collaboration with G20 and in close co-operation with the EU, has developed a global standard for automatic exchange of financial account information, also known as the Standard for Automatic Exchange of Financial Account Information (“Standard”) or the Common Reporting Standard (“CRS”)
The aim of CRS is not only to improve international tax compliance but also to avoid a proliferation of different
standards which would increase costs for both governments and financial institutions.
Our CRS team (the “Team”) has requisite experience and know-how to provide advice and administrative solutions to clients on all aspects of the Automatic Exchange of Financial Account Information ("AEOI") due diligence and reporting regimes under the OECD Standard for Automatic Exchange of Financial Account Information – Common Reporting Standard ("CRS") with respect to Mauritian and Seychelles financial institutions.
Our understanding of the application and evolution of CRS is unparalleled, as the Team has worked closely with Mauritian and Seychelles authorities in relation to the development of the regimes within these jurisdictions.
We provide constructive and insightful advice to a range of clients, including investment managers, investment advisors, brokers, funds and trusts, offering flexible and cost effective solutions that can be tailored to ensure clients meet the necessary requirements.
Our services include:
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Providing entities, incorporated in Mauritius and Seychelles, advice and assistance in relation to the potential application of CRS
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Entity classification for CRS purposes
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Due diligence pertaining to CRS
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Classification, validation and remediation of pre-existing accounts, where applicable
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Onboarding new accounts to ensure that the required data is captured, obtaining forms and due diligence documentation for validation up front to facilitate compliance
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Reporting to Competent Authority for CRS purposes
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Preparation and filing of reports that are compliant with applicable legal requirements
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Registration with Competent Authority for reporting purposes, including application for TAN for CRS purposes or Dummy TAN where applicable
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CRS periodic reviews
