On 2 November 2018, the Government Princier of Monaco published “Ministerial Order 2018-1007” (Link-French), which includes the latest update of the reportable jurisdictions list under the Common Reporting Standard (“CRS”).
The complete list of reportable jurisdictions in the year 2018 encompasses the following countries: Andorra, Austria, Belgium, Bulgaria, Cyprus, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Germany, Gibraltar, Greece, Hungary, Ireland, Italy, Japan, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Mauritius, Mexico, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and United Kingdom.
In addition, the list of reportable jurisdictions in the year 2019 contains additional 26 countries: Argentina, Australia, Azerbaijan, Brazil, Canada, Chile, China, Faroe Islands, Greenland, Guernsey, India, Indonesia, Iceland, Jersey, Malaysia, Isle of Man, New Zealand, Norway, Panama, Russia, San Marino, Saudi Arabia, Seychelles, Singapore, Switzerland and Uruguay.
Moreover, the Monaco partner jurisdictions list has also been updated and the complete list includes:Anguilla, Argentina, Australia, Barbados, British Virgin Islands, Canada, Cayman Islands, Chile, China, Faroe Islands, Guernsey, Hong Kong, India, Iceland, Jersey, New-Zealand, Norway, Panama, San Marino, Saint Kitts and Nevis, Samoa, Seychelles, Singapore, South Africa and Switzerland.
The partner jurisdictions are those with which Monaco has begun negotiations on moving to automatic exchange. A partner jurisdiction is not yet a jurisdiction with which Monaco has undertaken to exchange information. The purpose of the list of partner jurisdictions is to enable Monegasque financial institutions to apply simplified due diligence procedures when their clients are residents in these jurisdictions.
More information on the automatic exchange of information (“AEOI”) in Monaco can be found in the Frequently Asked Questions on the government’s website (Link).