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Podcast: Offshore Tax with HTJ.tax
Episode: What Is a Financial Institution (FI) in CRS?
Description: The term “Financial Institution” under the Common Reporting Standard (CRS) is often misunderstood—but it’s central to how global tax transparency works. In this episode, we break down what qualifies as an FI, the different categories, and why classification matters.🏛️ 1️⃣ FI Must Be an Entity (Not an Individual)Under CRS, a Financial Institution must be a legal entity, such as:• A company • A partnership • A trust or foundation • Other fiduciary structuresAn individual (a “natural person”) cannot be a Financial Institution.An entity may also fall into mor...