negonHigh-Ranking Operative
- Joined
- Jun 2011
- Messages
- 3,970
Thank you very much for the share. It's a solution if this really is like you wrote. I will have to try it.
Alex FrNew MemberAuthor
- Joined
- Jan 2018
- Messages
- 49
Hello,
Friend of mine owns Dominica (Commonwealth) IBC with bank account in Liechtenstein. Some time ago bank sent "AEOI-Classification of Legal Entities-Self-certification for entities" form to complete.
Dominica company is considered to be active NFE by this attribute:
Less than 50% of the NFEТs gross income for the preceding calendar year or other appropriate reporting period is passive income and less than 50% of the assets held by the NFE during the preceding calendar year or other appropriate reporting period are assets that produce or are held for the production of passive income.
Dominica IBC doesn't have TIN and doesn't pay taxes for the first 20 years or so, but I haven't found this is mandatory for active NFE.
So bank is not demanding to complete
"Form for the identification of the ultimate beneficial owner of legal entities as referred to in Article 3(1)(a) DDO (Form C)" for active NFE beneficiary.
So far this looks like some temporary solution for AOI reporting, isn't it? They say they are going to to toughen these regulation. But at least for now...
