Common Reporting Standard

The Common Reporting Standard was introduced in 2017 across the whole European Union and brings about new legislation for international businesses and foreign investment markets from 2018, affecting more than 100 jurisdictions will be affected across the world.

Common Reporting Standards will block attempts to hide taxes in participating countries, topping-up the budgets of these countries by billions of US dollars.

Local governments will get information which will allow them to control legislation over currency regulation and foreign registered companies. Thus, international entrepreneurs using foreign entities and businesspersons having foreign bank accounts should re-think how to survive with the new requirements.

Currently, Common Reporting Standards (CRS) provide only general information on how governments will implement new regulations, new currency legislation and control foreign entities.

In the outbreak of CRS implementation many entrepreneurs fall into two extremes: they are trying to ignore the new reality or close their businesses down. Both extremes are disastrous for the business as well as businessmen themselves.

The only way will be to attract professional consultants to find the right solution.

Our specialists are happy to analyse your situation and provide you specific solutions.

Schedule a consultation with our specialist