The ever-evolving regulatory landscape is forcing corporations and financial institutions to solve multiple regulations and compliance rules simultaneously. Each of these regulations dictates a different set of data, documentation and regulatory classification requirements, putting increased pressure on already stretched compliance, data management, and onboarding teams.

Over the last nine months, Ciltrust International Group has seen a steep increase in demand from corporations, individuals and institutions to assist them with the new regulatory reporting requirements related to BEPS, the Common Reporting Standard (CRS), Legal Entity Identifier (LEI) introduced by MIFIF II legislation and other transparency initiatives. With our global representation and our 20+ year track record in dealing with corporations and financial professionals, we can say that we understand the impact of global regulations and can, therefore, be of benefit to you and your business.

Ciltrust International Group has the expertise to deliver sophisticated and superior services that assist individuals and corporations, asset, and fund managers, family offices, private banks and wealth management firms in addressing these reporting challenges and in staying abreast with the changing regulatory requirements and expectations and industry practices.

We ensure global and future-proofed AEOI regulatory reporting

Our regulatory reporting service determines, classifies, reports and secures the regulatory journey of legal entities, ensuring compliance with all in-scope regulatory obligations such as CRS and BEPS services.

  • CRS entity classification

Ensuring your entity is classified as Financial Institution-Investment Entity (FI-Investment Entity) or Non-Financial Entity (NFE), either Passive NFE or Active NFE.  Classification reports are accessible through our online portal giving full insight into all classification and ongoing actions. And classifications will be aligned with the respective banks / FI’s where financial accounts are held.

  • CRS on-boarding and due diligence of new entity accounts and new individual accounts

We help on-boarding entities with their due diligence for CRS purposes. This includes collection and preparation of self-certification forms, review and validation of each account holder’s information on its CRS status and tax residence. We determine whether information inconsistencies with Financial Institutions exist and work on resolving them.

  • CRS pre-existing account due diligence and enhanced file review

We will review the information of account holders to identify any CRS indicia on tax residencies. We also review your existing structure or your entire client portfolio, to assess the local disclosure compliance and determine if restructuring measures are necessary and favorable to your needs.

  • CRS Reporting and other regulatory reporting

We can prepare and file the annual CRS reporting of reportable accounts to the AEOI portal of the local tax authorities. We can assist by providing compliance, regulatory and risk management services. We can also provide corporate governance services such as corporate secretarial, a statutory managing director or trustee service – keeping you compliant with regulatory and local filing requirements.

We achieve centralized and optimized client data management

Our reporting services identify all the data and documentation that is required for processing to evidence the regulatory reporting process.

Our system integrates seamlessly with data and KYC utilities

We collaborate and have affiliations with leading data providers and KYC utilities to consume process and route client data to the right internal systems, updating client data records accordingly. This helps to create a single client view of all relationships, associations, directorships and ultimate beneficial owners related to the HNW client, helping to accurately calculate the size of the risk of doing business with that individual.

We already have provided BEPS health checks, CRS and LEI registration services for numerous of legal entities and we make sure we keep informing our clients and contacts of the latest developments.

We are assist individuals and companies with Belize entities to make smooth legally compliant transitions across all the new requirements.

Ciltrust International being at the forefront of these developments already took coordinated action to contact, inform and register those customers’ entities that have move ahead to do become compliant.

For further information about our regulatory reporting services, please contact: 

Ciltrust International Incorporated. at 

services@ciltrust.com