our advertising disclaimer | Disclaimer - Must be read before using forum or clicking any links
Your Ad here!
Simplefx.com
HYIP Secrets Revealed! - Top-Secret HYIP Dirty Secrets
Put Down The Coffee, Throw Out Your Moral Compass And Learn How To Make THOUSANDS Of Dollars Every Month!
YOUR AD HERE!
For only $17/day, $99/week or $379/month
Put your banner or text in the rotation above!ONLY $17/day, $99/week, or $379/month!

All banners and links On Talkgold are advertisements only. We do not endorse or vouch for any advertiser's claims. Use Extreme Caution & perform your own due diligence before sending money to anyone!
Put Your 728X90 Banner Here NOW!
Results 1 to 6 of 6
  1. #1
    Join Date : May 2016
    Location : München
    Posts : 350

    Default Indian Banks To Soon Freeze Accounts For FATCA Non-Compliance

    The Indian Ministry of Finance on April 11 warned that where Foreign Account Tax Compliance Act-related self-certification and due diligence in relation to financial accounts have not taken place by April 30, 2017, affected accounts may be frozen until such time as these checks have taken place.
    Under the Inter-Governmental Agreement with the United States on the implementation of FATCA, financial institutions were directed to obtain self-certification concerning ownership from account holders and relevant documentation (relating to all accounts opened between July 1, 2014 and August 31, 2015), and to close accounts for which the required information was not forthcoming.
    However, the Ministry explained that: "In view of the difficulties highlighted by stakeholders in following the provision for 'closure' of financial accounts, [an August 31, 2016, press release said] that the financial institutions may not close the accounts by August 31, 2016, in respect of which self-certifications have not been obtained under the alternative procedure, and a revised timeline shall be notified in due course. The financial institutions were also advised to continue to work on completing the required due diligence, including obtaining self-certifications."
    It went on to add that, in response to queries from accountholders, "the account holders may be informed that, in case self-certifications are not provided till April 30, 2017, the accounts would be blocked, which would mean that the financial institution would prohibit the account holder from effecting any transaction with respect to such accounts. The transactions by the account holder in such blocked accounts may, thereafter, be permitted once the self-certification is obtained and due diligence completed."
    Company Formation - Bank Account - Asset Protection - Second Citizenship - Residency in Panama and UAE - ForEx - ADULT - Fiduciary Service - Bitcoin accepted here
    http://www.articbusinessconsulting.com/


  2. #2
    Join Date : Mar 2017
    Posts : 25

    Default Re: Indian Banks To Soon Freeze Accounts For FATCA Non-Compliance

    The things that happens in India are really crazy, after they have banned big bank-notes now they are pushing for a cashless society. They are doing it very aggressively.

  3. #3
    Join Date : Oct 2014
    Posts : 1,166

    Default Re: Indian Banks To Soon Freeze Accounts For FATCA Non-Compliance

    India is worst place to bank , I suggest all Indian citizen to bank in Dubai , Singapore , or hk, just leave that idiot government alone

  4. #4
    Join Date : Oct 2013
    Posts : 153

    Default Re: Indian Banks To Soon Freeze Accounts For FATCA Non-Compliance

    Quote Originally Posted by Pt2014 View Post
    India is worst place to bank , I suggest all Indian citizen to bank in Dubai , Singapore , or hk, just leave that idiot government alone
    Pt2014, for Indians as well as everyone you will need to move to UAE, Singapore or HK first to open up an account there. There are no shortcuts anymore. Every govt almost all around the world wants its citizens to open up their accounts there not offshore so they can grab it at their will. US was the first one to show the world it can do whatever even overseas by closing down banks. FBME, Bank Andorra, etc etc. CRS is a result of FATCA.

  5. #5
    Join Date : Oct 2013
    Posts : 153

    Default Re: Indian Banks To Soon Freeze Accounts For FATCA Non-Compliance

    By the way, this self certification is as part of US govt IGA signed. US itself won't tell India if any of its citizens have accounts in USA.

  6. #6
    Join Date : Oct 2014
    Posts : 1,166

    Default Re: Indian Banks To Soon Freeze Accounts For FATCA Non-Compliance

    I definitely think using moonbank bank soon, I hope aliens �� do not have crs

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
TALKGOLD
SIDEBAR ADS

ADVERTISE HERE. Must read: Advertising Terms & Website Disclaimer
PUT YOUR 120X120 AD HERE FOR ONLY $170/WEEK!
Click Here for details.
Your Ad Here Cost of Ad - $160
Your Ad Here Cost of Ad - $140
YOUR AD HERE

PUT YOUR NON-ROTATING AD HERE NOW!
ONLY $45/Week
Your Ad Here Cost of Ad - $45