Foreign Account Tax Compliance Act ( FATCA Reference ) adopted in the US. It generally requires non-US financial institutions and certain other entities to report foreign assets held by US account holders.
Common Reporting Standard ( CRS Reference ) adopted in the EU requires financial institutions to identify and report accounts held by individuals and entities that are tax residents outside the country where the account is held.
Required information
During onboarding, merchants need to select the type of entity their business qualifies as for FATCA and CRS classification. This helps determine whether reporting obligations apply and whether any controlling persons must be identified and reported.
| Entity type | Definition | Criteria for selection |
|---|---|---|
| Active NFE Other |
Businesses with active income from trading, services, or manufacturing. To qualify, less than 50% of your income and assets should be passive, for example, interest, dividends, or rent. |
If your company operates in retail, e-commerce, tech, services, or other sectors. |
| Active NFE Government Entity Central Bank International Organisation |
Government bodies or entities fully owned by governments or global institutions. | If your company is a government entity, central bank, or UN-type organization. |
| Active NFE Publicly Traded Related Entity |
Companies listed on a stock exchange or related to a listed company. | If your company or a related one is listed on a stock market. |
| Passive NFE | Businesses that are not actively trading and mainly earn passive income, for example, interest, dividends. | If your company is a holding company, a trust, a Special-purpose investment vehicle, or others. |
| Direct / Sponsored Direct Reporting NFFE FATCA only |
Entity that has U.S. owners and chooses to handle FATCA reporting directly with the U.S. tax authority, either:
|
Used mainly by large international groups or investment structures. |
Based on the selected option, further details may be required.
The classification and information provided are based on self-certification according to international regulatory standards. Ensure the information is accurate and complete. As a regulated entity, cannot provide tax advice and rely on the information you provide to meet FATCA and CRS compliance obligations.
If uncertain about your classification or tax residency status, it is recommended to consult a qualified tax advisor to ensure accurate completion of the form.
Reason for requesting information
As a regulated entity, it is necessary to determine each merchant’s FATCA and CRS classification by law. This helps identify whether the business is subject to reporting obligations.
Reporting obligations arise only if the merchant’s classification and structure require it under FATCA or CRS frameworks. Automatic reporting is not applied to every merchant.
Self-certification validity
Self-certification remains valid indefinitely unless there is a change in your circumstances. If any changes occur, merchants must notify us within 30 days and submit an updated self-certification.