瑞士百達集團
Bahamas Booking Centre
Financial Institutions (FI), Active or Passive Non-Financial Entities (NFE)
CRS - Useful information
1. If your Entity qualifies as a Financial Institution (FI)1
Please download the below self-certification form where sections A, B and C have to be duly completed.
2. If the Entity qualifies as an Active Non-Financial Entity (ANFE)2
Please download the below self-certification form where sections A, B and D have to be duly completed.
3. If the Entity qualifies as a Passive NFE (PNFE)3
Please download the below self-certification form for entities where sections A, B, D and E have to be duly completed.
Additionally, please complete for each person listed as a controlling person (listed under section E of the “OECD Form for Entities”) the form “Tax status for Individuals”.
Notes and references
- An entity will qualify as a Financial Institution if it fulfils all of the three following conditions:
(i) It holds, administers, invests in or manages financial assets; and
(ii) Its gross income is primarily attributable to investing, reinvesting or trading in financial assets; and
(iii) It is managed by another Financial Institution.The term Active NFE is an entity where:
- a) operating entity: less than 50% of the NFE’s gross income for the preceding calendar year or other appropriate reporting period is passive income (e.g. certain dividends, interest, rents and royalties not derived in the active conduct of a trade or business) and less than 50% of the assets held by the NFE during the preceding calendar year or other appropriate reporting period are assets that produce or are held for the production of passive income (calculated as a weighted average of the percentage of passive assets measured quarterly);
b) listed company: the stock of the NFE is regularly traded on an established securities market or the NFE is an affiliated company of such listed entity;
c) the NFE is a governmental entity, an international organisation, a Central Bank, or an Entity wholly owned by one or more of the foregoing;
d) the NFE is a holding company owning (in whole or in part) the outstanding stock of, or providing financing and services to, one or more subsidiaries that engage in trades or businesses other than the business of a Financial Institution;
e) start-up company: the NFE has been organised less than 24 months ago, is not yet operating a business and has no prior operating history, but is investing capital into assets with the intent to operate a business other than that of a Financial Institution;
f) entity in liquidation: the NFE was not a Financial Institution in the past five years, and is in the process of liquidating its assets or is reorganising with the intent to continue or recommence operations in a business other than that of a Financial Institution;
g) group treasury center: the NFE primarily engages in financing and hedging transactions exclusively with, or for, related group entities that are not Financial Institutions, provided that the group is primarily engaged in a business other than that of a Financial Institution; or
h) non-for-profit organisation: the NFE meets all of the following requirements:
i) it is established and operated in its jurisdiction of residence exclusively for religious, charitable, scientific, artistic, cultural, athletic, or educational purposes; or it is established and operated in its jurisdiction of residence and it is a professional organisation, business league, chamber of commerce, labour organisation, agricultural or horticultural organisation, civic league or an organisation operated exclusively for the promotion of social welfare;
ii) it is exempt from income tax in its jurisdiction of residence;
iii) it has no shareholders or members who have a proprietary or beneficial interest in its income or assets;
iv) the applicable laws of the NFE’s jurisdiction of residence or the NFE’s formation documents do not permit any income or assets of the NFE to be distributed to, or applied for the benefit of, a private person or non-charitable entity other than pursuant to the conduct of the NFE’s charitable activities, or as payment of reasonable compensation for services rendered, or as payment representing the fair market value of property which the NFE has purchased;
v) the applicable laws of the NFE’s jurisdiction of residence or the NFE’s formation documents require that, upon the NFE’s liquidation or dissolution, all of its assets be distributed to a governmental entity or other non-profit organisation, or escheat to the government of the NFE’s jurisdiction of residence or any political subdivision. - An NFE (i) that is not an Active NFE; or (ii) an Investment Entity incorporated or established in a country which is not a Participating Jurisdiction and which are therefore deemed to be Passive NFEs.