As a financial services company regulated in Guernsey by the Guernsey Financial Services Commission (GFSC), we are required to comply with international tax reporting standards, including the Common Reporting Standard (CRS).
What is CRS?
The Common Reporting Standard (CRS) is a global standard developed by the Organisation for Economic Co-operation and Development (OECD) for the automatic exchange of financial account information between tax authorities worldwide. Its goal is to increase tax transparency and prevent tax evasion.
Who Do We Report To?
We report to the Guernsey Revenue Service, which in turn exchanges information with tax authorities in countries that have signed up to the CRS framework.
What Information Is Reported?
For clients who are tax residents in other CRS-participating jurisdictions, we are required to report:
Account holder’s name
Address
Country of tax residence
Tax Identification Number (TIN)
Account balance or value
Gross amounts of income such as interest, dividends, or redemptions
How Is This Information Collected?
We collect this information as part of our Customer Due Diligence (CDD) and account opening process, including the self-certification of tax residency.
What Does This Mean for You?
If you're a tax resident in a CRS-participating jurisdiction outside Guernsey, the information related to your account may be shared with your local tax authority.
This process is required by law and does not require any action from you, unless we request updated information for verification purposes.
For more information, you may visit the OECD CRS Portal or contact our Compliance Team through this Help Center.