Guernsey based fintech company The ID Register has tripled its workforce over the past year as it opens up new markets for its services.
The ID Register is predicting further growth as more investors take advantage of its platform.
Any financial institution, resident in a Common Reporting Standard (CRS) participating jurisdiction will be required to carry out the due diligence processes for identifying reportable accounts held by a reportable jurisdiction person* and to report certain financial information to its local tax authority.
Despite the fact that the Common Reporting Standard (CRS) draws extensively on the Model 1 Intergovernmental Agreement (Model 1 IGA) approach of The Foreign Account Tax Compliance Act (FATCA), there are key differences that require specific onboarding, remediation, and reporting enhancements and processes
The ID Register, has spun out of Apex Group Ltd. in a management buyout led by its Founder, Tim Andrews and funds consulted by Perscitus LLP. The transaction completed on September 24, 2020 and terms were not disclosed.
One year after launch, the revolutionary Guernsey-based private funds platform, The ID Register (www.theidregister.com), has grown substantially with help from Carey Olsen.
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