25/09/2024

CRS #16 New service: CRS sponsorship

Monaco’s CRS regulatory environment is currently evolving:

In this context, the Direction des Services Fiscaux has intensified its controls to ensure that professionally managed investment entities comply with their registration and annual declaration obligations.

Certain entities, such as Monegasque non-trading companies whose income is mainly derived from a portfolio of financial assets and which have entrusted the management of their assets to a bank or management company, could be concerned.

Unlike the FATCA regulations, which allow these entities to adopt ODFFI status and delegate their reporting obligations to the bank, the CRS regulations do not provide for such an option. Entities therefore remain responsible for their own CRS compliance.

Phoenix Consulting has designed a tailor-made offer to support these entities in complying with CRS requirements. You will find more details in the brochure below.

Our team of experts is ready to support you in this complex process.

*Common Reporting Standard | Norme Commune de Déclaration

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