SINGAPORE, 4 APRIL 2017, FIVE STAR HOTEL IN CBD AREA
Singapore bankers: how to classify and
control wealth holding structures under
the Common Reporting Standard?
Detailed analysis of the Active NFEs
• First case of active NFE: the 50% rule: interpretation and case studies
• Second case of active NFE: Holding companies: interpretation and case studies
Detailed analysis of controlling persons
• The identification of the controlling persons of the Passive NFEs
Private wealth structures which can be classified as Reporting Financial Institution
• In which cases can the wealth holding structure be qualified as a reporting
Detailed analysis of trusts and PTCs: active NFE, passive NFE, FI
• How does CRS apply to trusts and Private Trust Companies in Singapore?
Self certification by the representatives of the NFE and control by the reporting FI/
the bank: how should it go?
• The Self Declaration of the active or passive nature of the NFE by its directors
• How will a disagreement between the NFE and the bank on the qualification (active
or passive) of the NFE be managed?
• Limits and scope of the reasonableness test done by the Reporting FI/ the bank