You’ve probably heard of CRS – the Common Reporting Standard that’s being rolled out around the world and goes into full gear later this year.
If you haven’t, CRS is a new global financial regulation that we’re dubbing “FATCA on Steroids,” as it’s a worldwide version of FATCA. Meaning: it’s a new mandate requiring governments and financial institutions to share more financial information about you than ever before.
The main difference between CRS and FATCA is that FACTA is a one-way street: global financial institutions must report to Uncle Sam about what kinds of accounts and companies US citizens are trying to open or already hold abroad.
CRS is more like a 2-way, 10-way, or 50-way street.
That’s because more than 100 countries have joined CRS. Half of them are going to start exchanging information about taxpayer activities starting this September. In fact, more than 1800 crisscrossing relationships already have been established under CRS’s rubric to automatically exchange financial information.
But will this really affect your financial life, your diversification desires, and – most of all – your Plan B and its validity and urgency?
The answer is inside this alert.
In it, I walk you through exactly what this new, worldwide regulation is, and how and/or if it might affect you and your Plan B. Plus, we’ll go over what solutions still work in this regulatory climate. (I’ve been working on one in Asia for you.)
Read on for more.
If you haven’t, CRS is a new global financial regulation that we’re dubbing “FATCA on Steroids,” as it’s a worldwide version of FATCA. Meaning: it’s a new mandate requiring governments and financial institutions to share more financial information about you than ever before.
The main difference between CRS and FATCA is that FACTA is a one-way street: global financial institutions must report to Uncle Sam about what kinds of accounts and companies US citizens are trying to open or already hold abroad.
CRS is more like a 2-way, 10-way, or 50-way street.
That’s because more than 100 countries have joined CRS. Half of them are going to start exchanging information about taxpayer activities starting this September. In fact, more than 1800 crisscrossing relationships already have been established under CRS’s rubric to automatically exchange financial information.
But will this really affect your financial life, your diversification desires, and – most of all – your Plan B and its validity and urgency?
The answer is inside this alert.
In it, I walk you through exactly what this new, worldwide regulation is, and how and/or if it might affect you and your Plan B. Plus, we’ll go over what solutions still work in this regulatory climate. (I’ve been working on one in Asia for you.)
Read on for more.
You’ve probably heard of CRS – the Common Reporting Standard that’s being rolled out around the world and goes into full gear later this year. If you haven’t, CRS is a new global financial regulation that we’re dubbing “FATCA on Steroids,” as it’s a worldwide version of FATCA. Meaning: it’s a new mandate requiring governments…
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