International Proximity signs alliance with The ID Register
Wednesday, February 24, 2021 | The ID Register
International Proximity (https://www.internationalproximity.com), one of the longest standing licensed management companies in Mauritius, has become an alliance partner of The ID Register. The ID Register has established in Mauritius, as the investment hub for Africa and Asia, in order to offer one-and-done due diligence delivered with intelligence and sensitivity. Together with International Proximity, The ID Register offers international investors a smooth and trusted onboarding and supports the KYC and Tax Compliance needs of Mauritian and international clients. Demonstrations can be booked here.
As an independent…
Sionic Partners with The ID Register
Thursday, February 18, 2021 | The ID Register
Global consulting firm Sionic and centralised investor onboarding utility The ID Register have today announced their formal Alliance Partnership. The partnership offers a trusted one-and-done KYC approval through The ID Register’s global hub, backed by Sionic’s expertise and client focus. Demonstrations can be booked here.
Sionic has over 25 years’ experience in providing advisory and consulting services to corporate, investment and private banks, clearing houses and exchanges, asset and wealth managers. Its specialist teams focus on banking and market operations; data and technology; financial crime and fraud preven…
StepStone Signs Alliance with The ID Register
Thursday, February 11, 2021 | The ID Register
The ID Register announces that StepStone Group (https://www.stepstonegroup.com), the trusted partner of choice for private markets solutions globally, has become an Alliance Partner of The ID Register. As a trusted hub of the global investment community, The ID Register offers investors streamlined subscription, KYC and FATCA-CRS services that meet high global standards. Approved investors can subscribe into new private markets funds without having to repeatedly provide their subscription materials and KYC information.
As an independent hub, The ID Register is trusted by over 25,000 investors and 270 clients as the o…
The ID Register becomes regulated
Tuesday, February 2, 2021 | The ID Register
The ID Register (www.theidregister.com) has been licenced by the Guernsey Financial Services Commission to carry on Controlled Investment Business. As the trusted global hub for investor onboarding and registration, regulation supports our single-sign-off service for investors, funds and service providers alike.
Achieving regulated status in a mature and sophisticated jurisdiction such as Guernsey allows:
- INVESTORS to be approved once in a private profile, leaving further KYC requests to us;
- FUND MANAGERS to rely on our approval so giving investors a better experience at lower cost; and
- SERVICE PROVIDERS to…
Who needs CRS reporting?
Friday, January 22, 2021 | The ID Register
Any financial institution, resident in a Common Reporting Standard (CRS) participating jurisdiction will be required to carry out the due diligence processes for identifying reportable accounts held by a reportable jurisdiction person* and to report certain financial information to its local tax authority.
Financial institutions will generally be required to ask the person opening the account to certify their residence using a CRS Self Certification form in addition to their standard due diligence procedure.
*please check your entity’s jurisdictional specific list of reportable jurisdictions as published by your tax au…
What is the difference between CRS and FATCA?
Friday, January 22, 2021 | The ID Register
Despite the fact that the Common Reporting Standard (CRS) draws extensively on the Model 1 Intergovernmental Agreement (Model 1 IGA) approach of The Foreign Account Tax Compliance Act (FATCA), there are key differences that require specific onboarding, remediation, and reporting enhancements and processes. For example, the scope of CRS is broader than FATCA as it aims to identify financial institutions tax resident in any of the jurisdictions participating in CRS.
Furthermore, the account scope may be significantly greater than FATCA's because most thresholds applicable under FATCA are not applicable within CRS, and the c…