The battle against tax fraud and evasion has become an international priority over the past ten years. It concerns both the tax optimisation of multinational companies and the dissimulation by individuals of their assets in foreign countries particularly in tax paradises.

The cloudiness that prevented administrations from identifying the assets of taxpayers seems to be over and is giving way to a context of transparency and automated exchange of financial data. On the other hand, the growth of the cryptocurrency market is yet another challenge for the financial world of tomorrow.

National supervisory authorities not only impose multiple internal audits to financial institutions with regards to repatriation operations but also, to evaluate whether the tax as well as the exchange of information regulations’ (i.e. CRS | FATCA | QI | DAC6) are correctly applied. As a result of these increased obligations, new risks of compliance are emerging.

It is therefore essential to understand the applicable rules, prudential constraints, and opportunities related to repatriation and tax issues.

Compliance4Business has developed an in-depth expertise on the matter. Our team acts as a Compliance Officer for regulated companies as well as for private clients. This combination of experience allows us to target market’s trends. Our assistance is tailored from the anti-money laundering standards, the terrorist financing requirements and the regulatory expectations. We help national and international clients by providing insight on some of the difficulties they may meet through repatriation operations and upon application of the tax regulation.

Moreover, we also give advice on specific legal issues, such as on regulatory and criminal liability risks. A very specific part of our expertise is related to the key issues linked to complex bank openings. That includes the drafting of compliance memorandums detailing the specific risks and establishing an in depth Customer Due Diligence and transaction analysis. Such memorandum will help both parties (institution and client) understand the inherent risks linked to commercial relationships, bank openings and financial activity in its whole. This can also concern new financial services (e.g. the acceptability of crypto-assets, cross-border repatriations or complex international transactions).

Our experts are used to coordinating projects (Project Management), setting up related departments and/or endorse internal key functions as AMLCO, Fraud Officer, KYC/CDD Analyst or Compliance Officer (outsourcing principles).