OECD Preventing Abuse of Residence & Citizenship-by-Investment Programmes to Circumvent CRS
18 May 2018 & 23 May 2018

Switzerland

18 May 2018 – Sheraton Zurich &
23 May 2018 – Hotel Mandarin Oriental

 

The OECD is focusing on CRS loopholes. The «Mandatory Disclosure Rules addressing CRS Avoidance Arrangements» includes residence by investment (RbI) and citizenship by investment (CbI) schemes. The OECD regards the abuse of these programmes to circumvent the CRS, as warrants a separate initiative. High-risk RbI /CBI schemes do not have a minimum stay or accept «not being elsewhere for 183 days» combined with no tax on unremitted income. A flaw in CRS considering tax residence  is the physical residence. Anecdotal evidence indicates that these schemes are often used as the residence for CRS self-certification, whilst the account holder remains tax-resident elsewhere. The OECD is:

(i) assessing how these schemes can be exploited to circumvent the CRS;

(ii) identifying high-risk of abuse schemes;

(iii) reminding stakeholders of the importance of correctly applying relevant CRS due diligence procedures to prevent abuse.

 

Attend a workshop to learn more about:

> The OECD Initiative in Context
> How OECD Addresses CbI / RbI Schemes
> How Stakeholders Other Than FIs and Intermediaries will Address the Risks
> How Must FIs Enhance Due Diligence
> Hurdles to Implementing
> Which Avoidance is Strongly or Weakly Covered?
> Practical Application
> Which Jurisdictions are Impacted?
> Impact of Initiative on Jurisdictions
> Impact of Initiative on Promoters / Service Providers
> Impact of Initiative on Clients
> RbI/CbI vs. BEPS MDR v.s EU MDR vs UK POTAS
To view programme  click here

 

To register for the 18 May Zurich event, click here
To register for the 23 May Geneva event, click here