Thursday, March 16, 2006

Automatic exchange of information option

Type of information the British Virgin Islands banks or other paying agents will exchange under this option:

  1. The identity and residence of the beneficial owner.
  2. The name and address of the BVI paying agent.
  3. The account number of the beneficial owner.
  4. Information concerning the savings income.

The BVI paying agent is to report the above-mentioned information to the competent authority in the country where the account is held. Then, the information will be forwarded to the competent authority of the country where the EU resident individual actually resides.

No comments: