OECD Clamps Down on CRS Avoidance through Residence and Citizenship by Investment Schemes

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Saturday, October 27, 2018
Author: 
Bruce Zagaris
Volume: 
34
Issue: 
11
Abstract: 

On October 16, 2018, the OECD announced the issue of guidance on residence and citizenship by investment (CBI/RBI) schemes, often referred to as golden passports or visas, as potential mechanisms for misuse in order to hide assets held abroad and circumvent reporting under the OECD/G20 Common Reporting Standard (CRS).