ARTICLES
FINANCIAL ASSETS OF RUSSIAN RESIDENTS IN MONACO ARE NO LONGER CONFIDENTIAL
29 June, 2019
From 2019 Monaco and Russia will start to exchange bank account information according to the CRS, therefore, in order to preserve anonymity, it is necessary to transfer your assets to other jurisdictions as soon as possible.
For citizens of Russia, Ukraine and other countries of the former Soviet Union, taking into account the published list of countries for the automatic exchange of information, it would be beneficial to register a company in the Autonomous Island of Moheli, within the Union of Comoros, with an account in CG Bank. In this case, you will be provided with reliable corporate anonymity.
In 2019, the following jurisdictions join to the automatic exchange of financial information with the Russian Federation - Austria, Switzerland, Bahamas, Hong Kong, Grenada, Monaco, Macau.
At the same time, the opening of a bank account in Monaco, despite some tax preferences, cannot be called an attractive jurisdiction. Here a limited choice of legal structures is offered, despite the fact that the owner must be necessarily registered in the open State register. At the same time, the formation and registration of a company in a state is fraught with large costs and fairly long terms of registration.
For 2017, the Federal Tax Service of Russia automatically received and processed information on foreign financial accounts of Russian tax residents, their beneficiaries and controlling persons from the competent authorities of 58 states (territories). The information was received by the Federal Tax Service of Russia, including from such previously considered “non-transparent” jurisdictions as the Cayman Islands, the British Virgin Islands, Belize, etc. For its part, the Federal Tax Service of Russia sent information on the financial accounts of foreign clients to the competent authorities of 42 states (territories).
Our bank, CG Bank, can help you with this. We do not have CRS, because CG bank is registered on Comoros. Union of the Comoros didn’t sign that document and your private information will be in safety. Our services are accessible through our state-of-the-art international network system which is a fully secured network for transmitting private and corporate information while ensuring that business transactions are performed without delay.
Note that the registration of an offshore company and opening an account can be carried out remotely, without leaving the country, and without leaving your office or home. An important point also is the ability to receive banking services in Russian. Not every European bank can provide this service.
Open your multi-currency bank account remotely within 72 hours with a basic package of documents and be sure of your confidentiality and non-disclosure of personal data.
More information about the services of our bank you can find on our website https://cgbanque.io