Public comments received on misuse of residence by investment schemes to circumvent the Common Reporting Standard
On 19 February 2018, interested parties were invited to provide comments on a consultation document on misuse of residence by investment schemes to circumvent the Common Reporting Standard. The consultation document assessed how these schemes are used in an attempt to circumvent the CRS; identified the types of schemes that present a high risk of abuse; reminded stakeholders of the importance of correctly applying relevant CRS due diligence procedures in ...
OECD releases consultation document on misuse of residence by investment schemes to circumvent the Common Reporting Standard
The OECD is releasing a consultation document on misuse of residence by investment schemes, to circumvent the Common Reporting Standard, according to an announcement dated 19 February 2018 on the website of the OECD. In said announcement, the OECD informs as follows. More and more jurisdictions are offering "residence by investment" (RBI) or "citizenship by investment" (CBI) schemes, which allow foreign individuals to obtain citizenship or temporary or permanent residence ...