All 98 Non-CRS Countries in 2024 (Common Reporting Standard)

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Why Does This Non-CRS List Have 98 Countries While Other Websites Show Only 53 or Less?

Because the datasets are incomplete.

All other websites copied their data from Wikipedia and from this list. But if you look at them, you realize that they’re missing countries.

So I went through the list of all countries in the world and looked at which ones were missing from both CRS and non-CRS lists, and added them.

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What Is the CRS?

The Common Reporting Standard is a voluntary and automatic exchange of information between tax authorities of countries participating in the program.

The CRS was established by the OECD in 2014. Countries began to report information in 2017.

More and more countries have joined the CRS since its establishment.

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How Does the CRS System Work?

Financial institutions must report to tax authorities financial information once a year.

Those tax authorities automatically exchange this information with other countries where individuals are either citizens or financial residents.

This information is:

1. Name, address, social security number, place, and date of birth.
2. Account number
3. Account balance at the end of the annual reporting period (or when the account closed, if it closed).

Note that CRS only concerns the bank accounts of individuals. It does not concern bank accounts of companies or trusts.

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Which Countries Are a Part of the CRS?

Here are the 126 countries/territories part of the CRS.

1. Albania
2. Andorra
3. Anguilla
4. Antigua and Barbuda
5. Argentina
6. Armenia
7. Aruba
8. Australia
9. Austria
10. Azerbaijan
11. Bahamas
12. Bahrain
13. Barbados
14. Belgium
15. Belize
16. Bermuda
17. Brazil
18. British Virgin Islands
19. Brunei Darussalam
20. Bulgaria
21. Cameroon
22. Canada
23. Cayman Islands
24. Chile
25. China (People’s Republic of)
26. Colombia
27. Cook Islands
28. Costa Rica
29. Croatia
30. Curaçao
31. Cyprus
32. Czechia
33. Denmark
34. Dominica
35. Ecuador
36. Estonia
37. Faroe Islands
38. Finland
39. France
40. Georgia
41. Germany
42. Ghana
43. Gibraltar
44. Greece
45. Greenland
46. Grenada
47. Guernsey
48. Hong Kong (China)
49. Hungary
50. Iceland
51. India
52. Indonesia
53. Ireland
54. Isle of Man
55. Israel
56. Italy
57. Jamaica
58. Japan
59. Jersey
60. Jordan
61. Kazakhstan
62. Kenya
63. Korea
64. Kuwait
65. Latvia
66. Lebanon
67. Liechtenstein
68. Lithuania
69. Luxembourg
70. Macau (China)
71. Malaysia
72. Maldives
73. Malta
74. Marshall Islands
75. Mauritius
76. Mexico
77. Moldova
78. Monaco
79. Mongolia
80. Montenegro
81. Montserrat
82. Morocco
83. Nauru
84. Netherlands
85. New Zealand
86. Nigeria
87. Niue
88. Norway
89. Oman
90. Pakistan
91. Panama
92. Peru
93. Poland
94. Portugal
95. Qatar
96. Romania
97. Russian Federation
98. Rwanda
99. Saint Kitts and Nevis
100. Saint Lucia
101. Saint Vincent and the Grenadines
102. Samoa
103. San Marino
104. Saudi Arabia
105. Senegal
106. Seychelles
107. Singapore
108. Sint Maarten
109. Slovak Republic
110. Slovenia
111. South Africa
112. Spain
113. Sweden
114. Switzerland
115. Taiwan
116. Thailand
117. Trinidad and Tobago
118. Tunisia
119. Türkiye
120. Turks and Caicos Islands
121. Uganda
122. Ukraine
123. United Arab Emirates
124. United Kingdom
125. Uruguay
126. Vanuatu

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Why Is the USA Not a Part of the CRS?

First, because a lot of foreigners are depositing money in US accounts that wouldn’t be there if the CRS was implemented.

Second, because the US has its own framework named FACTA.

Third, because the US is a federal country. Banking laws are different in states like Delaware, Nevada, Florida, or Wyoming, known for their confidentiality. They would likely oppose the US joining the CRS.

This makes the USA one of the biggest tax havens in the world.

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What Is FACTA?

FACTA stands for Foreign Account Tax Compliance Act. It’s a convention signed between other countries and the US where other countries commit to reporting financial information of Americans abroad.

But the US does not necessarily report financial information of foreigners in the US.

To quote the OECD:

The Model 1A IGAs entered into by the United States acknowledge the need for the United States to achieve equivalent levels of reciprocal automatic information exchange with partner jurisdictions. They also include a political commitment to pursue the adoption of regulations and to advocate and support relevant legislation to achieve such equivalent levels of reciprocal automatic exchange.

OECD, Source.

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How to Minimize Your Taxes?

The best way to minimize your taxes is to live in a country where the personal income tax is 0%.

Source: Wikipedia, OECD, OECD