Common Reporting Standards
Investec Bank (Channel Islands) Limited OECD Common Reporting Standard (CRS)
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.
Under CRS, Channel Island financial institutions including Investec Bank (Channel Islands) Limited will be required to identify and report on certain accounts held directly or indirectly by tax residents in any of the overseas participating CRS countries. The reportable information is required to be sent to the Guernsey tax authorities in the case of a Guernsey account and the Jersey tax authorities in the case of a Jersey account, who will then share it with the relevant overseas tax authorities where the account holders are identified as being tax resident.
Investec Bank (Channel Islands) Limited is committed to being fully compliant with CRS regulations. To comply with CRS regulations, Investec Bank (Channel Islands) Limited must establish the tax status of account holders and may from time to time request further information and/or documentation from you to confirm your tax status.
If you have relationships with other members of the Investec Group, you may receive more than one request for confirmation of your tax status. It is important that you respond to all such requests.
Investec Bank (Channel Islands) Limited does not offer tax advice. If you require any further information or have any questions concerning the CRS regulations, please speak to a tax adviser.