Our bespoke CRS & FATCA classification solution was created to assist British Virgin Islands and Cayman Islands registered entities to effortlessly determine their classification status under the CRS and FATCA regimes (the Regimes), and seamlessly connect with our regulatory and compliance experts, who are eager to support.
The solution enables the user to:
- Determine the entity's classification status under the Regimes
- Identify the entity's regulatory obligations under the Regimes
- Connect with our regulatory and compliance experts for assistance with:
- Completion of the Self-Certification form
- Completion of the W-8 and W-9 forms (for FATCA only)
- Registration with the IRS
- Obtaining a Global Intermediary Identification Number (GIIN)
- Due diligence procedures for reportable accounts
- Reporting to the local tax authorities
Who needs to classify?
All BVI and Cayman entities should identify their classification under the Regimes. The solution will also be of interest to banks, custodians, asset managers, certain funds, financial institutions, and insurance companies, as they are obligated to collect, review, and report information about their account holders and investors.
How much does an online classification session cost per entity?
An individual session costs US$175. Discounts are available for users requiring multiple sessions for multiple assessments and reports.
Our CRS & FATCA Entity Classification Solution can be accessed here.