As per the UAE Central Bank directive, the country is an adopter of the Common Reporting Standard (CRS), initiated by the Organization of Economic Cooperation and Development. In order to protect the integrity of tax systems and their fight against tax evasion, governments around the globe intend to implement an Automatic Exchange of Information system.
 

Under Common Reporting Standard (CRS), RAKBANK customers will be required to fill in a CRS Self-Certification form, as part of the ‘Tax Residency’ update. It is imperative to note that this information may be shared with the UAE regulatory authorities, who may further share the information with international tax authorities where customers are confirmed to be ‘Tax Residents’.
 

RAKBANK or its staff cannot provide any advice on ‘Tax Residency’ or related laws.
 

You can contact your tax advisor or visit the OECD Portal for further information on ‘Tax Residency’ laws.

CRS related forms:
 

Entity:
 

Corporate Self-Certification Form (FATCA & CRS)
 

Individual:
 

Individual Self Certification Form - FATCA and CRS