Following publication of the Ministerial decrees in December, 2019 one country has been added to the list of reporting countries, being the countries with which Monaco Financial Institutions will start to exchange information concerning financial accounts:
- Israel
The first information exchange for this country will take place in 2020, with respect to the 2019 year.
In addition, 6 jurisdictions have been removed from the list of reporting countries and have been reclassified as non-reciprocal jurisdictions in Monaco and therefore are in fact partner jurisdictions :
- Aruba
- Curaçao
- Iles Turques-et-Caïques
- Liban
- Montserrat
- Nauru
The addition to this list will allow Monaco Reporting Financial Institutions ("RFIs") to rely on reporting to be undertaken by RFIs based in these partner jurisdictions.
For more information or queries on this subject please contact Peter Brigham in Monaco - p.brigham@rosemont-mc.com
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