Registration of Reporting Financial Institutions under the Automatic Exchange of Financial Account Information Act, 2016

Pursuant to Section 4(2)(a) and (b) of the Automatic Exchange of Financial Account Information Act, 2016, Reporting Financial Institutions are required to register with the Competent Authority within 90 days of the commencement of the Act, i.e. by April 1st, 2017. Please be advised that the Common Reporting Standard/Automatic Exchange of Information portal will be available for registration at a date to be announced by the Competent Authority and until such time, there will be no penalty for failure to register.”