The Foreign Account Tax Compliance Act (FATCA) and the Common Reporting Standard (CRS) represent the two main types of Automatic Exchange of Information (AEOI) that regulated financial services institutions need to be concerned with. Becoming part of these reporting frameworks is key to any jurisdiction remaining a viable financial services centre.
Whilst many businesses have already performed both FATCA and CRS reporting, these remain key areas that businesses have to contend with and in many cases have yet to be fully integrated into business practices. Often the knowledge to deal with both FATCA and CRS sits within a small number of specialists who have dealt with the projects to implement them. Also, remaining abreast of the latest developments is important, whether it be the latest reporting file format or the updated list of reportable & participating jurisdictions for CRS.
Midshore are your FATCA & CRS specialists and are pleased to offer training, consultancy and project management services at all levels to suit your needs. Our training goes beyond the regulations to focus on practical application of AEOI to help your team ensure that your business remains compliant. Consultancy and project management can be tailored to the requirements of your business ranging from being on the other end of a phone or email for guidance (“Assure by Midshore”) to full project management, remediation and reporting assistance. For the 2016 reporting period we assisted a number of clients with a variety of needs.
The team at Midshore bring together a range of skills including regulatory implementation, project management and IT to ensure that all aspects of our FATCA and CRS service meet the needs of our clients.
