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A CRS Compliance Program for Fiduciaries (St. Kitts & Nevis Edition)
USD 2,950.00
This document sets out a CRS Compliance Program for fiduciaries and advisors connected to St. Kitts & Nevis private wealth management structures and is designed to satisfy the requirement in the St. Kitts & Nevis CRS legislation for Financial Institutions “to establish, maintain and document the procedures” sufficient to identify CRS reportable accounts. Non-compliance with this requirement is punishable by a fine of up to EC$ 100,000. While this document is specific to St. Kitts & Nevis, it can also be adapted to meet the requirements for CRS Compliance Manuals for other jurisdictions.
Description
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This resource covers:
- Determination of the applicable jurisdiction and the rules governing the entity’s CRS status;
- Entity classification, registration and delegation;
- Identification, due diligence and monitoring of CRS Account Holders and Controlling Persons; and
- Preparation, registration and submission of CRS account reporting.
Caution
Failure of any BVI FIs to comply with this obligation is a criminal offence and is punishable by a fine of up to USD 100,000.
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