Registration of Account and FATCA Certification ?
The Foreign Account Tax Compliance Act (FATCA) is a United States (US) tax law aimed at financial institutions and other financial intermediaries to prevent tax evasion by US citizens and US tax residents through use of non-US investments or accounts. Cyprus has entered into an intergovernmental agreement (IGA) with the US to implement FATCA in Cyprus. Under the IGA, the Company acts as the reporting financial institution that will have identification and reporting obligations with regard to FATCA. The Company intends to fully comply with FATCA obligations as determined by the FATCA regulation, the IGA and any associated guidance from the Cyprus Inland Revenue Department (IRD). These obligations include, but are not limited to, the identification and documentation of the FATCA status of our clients. The Company shall also report to the IRD certain information on applicable clients. The IRD shall in turn report this information to the US Internal Revenue Service (US IRS).
Please consult your tax or professional adviser should you wish to understand the implications of FATCA on your particular circumstances. The Company is not liable for any loss you may suffer as a result of the company’s compliance with FATCA.