International banking is often under attack from various governments, looking for transparency.
Over recent years, it has become the normality for banks around the world to report American account owners to the American government under the Foreign Account Tax Compliance Act, or more commonly known, FATCA.
More recently, Non-Americans have had to contend with a new Common Reporting Standard (or CRS), known as the Automatic Exchange of Information (AEOI). This was introduced by the OECD (Operation for co-operation & development) and forces banks in many jurisdictions to work closely with tax authorities, in order to exchange information on the ownership of offshore accounts.
This has concerned many people worldwide for a variety of different reasons, and has made banks outside of the CRS much more popular and in much higher demand.
If the implications of the Automatic Exchange of Information gives you cause for concern, you will be pleased to know that we work with banking facilities around the world which are currently NON-REPORTING.
Please call us to discuss your concerns and the solutions we have, one of our team will be happy to help.