CRS (Common Reporting Standard) has spread to 100+ countries, but some jurisdictions still offer enhanced privacy for legitimate business banking. Here's what you need to know.

Understanding CRS

What It Is: Automatic exchange of financial information between 100+ countries. Increased transparency, information sharing, compliance required.

Legitimate Privacy Needs: Business confidentiality, competitive advantage, asset protection, operational security-all valid reasons.

Non-CRS & Enhanced Privacy Options

1. United States: Not CRS participant (uses FATCA), extensive banking, some privacy benefits. FATCA reporting applies.

2. Middle Eastern Jurisdictions: UAE has limited CRS, enhanced privacy, strong banking. Evolving regulations.

3. Asian Jurisdictions: Some with limited CRS, enhanced privacy, good banking. Regulatory changes possible.

4. Caribbean Jurisdictions: Some with limited CRS, privacy benefits, good banking infrastructure. Evolving regulations.

5. African Jurisdictions: Limited CRS participation, enhanced privacy, developing banking. Varying quality.

6. Pacific Jurisdictions: Limited CRS, privacy benefits, varying banking quality. Limited options.

7. Other Options: Various non-CRS jurisdictions. Research required, varying privacy/quality.

Important Considerations

Regulatory Changes: CRS keeps expanding. Regulations constantly changing. Future changes possible.

Legitimate Use: Must maintain legal compliance. Valid business reasons required. Not for tax evasion.

Banking Quality: Quality varies. Do thorough due diligence. Consider reputation and stability.

Best Practices

✅ Get Professional Help: Work with experienced advisors, get current info, ensure compliance

✅ Do Due Diligence: Research thoroughly, verify regulatory status, evaluate banking quality

✅ Stay Compliant: Maintain legal compliance, meet reporting requirements, proper documentation

Bottom Line: Some privacy options exist, but the landscape is evolving. Professional guidance is essential. Compliance is non-negotiable.

Need privacy-focused banking? Contact Foreign Boss to discuss banking privacy options and how to structure relationships for legitimate privacy needs while maintaining full compliance.