OECD: Investment schemes that circumvent CRS regime | KPMG | GLOBAL

OECD: Investment schemes that circumvent common reporting standard (CRS) regime

OECD: Investment schemes that circumvent CRS regime

The Organisation for Economic Cooperation and Development (OECD) today announced the release of a consultation document to address how individuals may be using certain citizenship or residence rights in an attempt to circumvent the common reporting standard (CRS) regime.


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The OECD release explains that there are jurisdictions offering “residence by investment” or “citizenship by investment” schemes that allow foreign individuals to obtain citizenship or temporary or permanent residence rights in exchange for local investments or against a flat fee. As part of its CRS loophole strategy, the OECD is releasing a consultation document that:

  • Assesses how these schemes are being used in an attempt to circumvent the CRS
  • Identifies the types of schemes that present a high risk of abuse
  • Reminds stakeholders of the importance of correctly applying relevant CRS due diligence procedures in order to help prevent such abuse
  • Explains next steps the OECD will undertake to further address the issue, assisted by public input

Public comments are requested by 19 March 2018.

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