Such Non-Reporting UK financial institutions are treated as a deemed-compliant FFI or as an exempt beneficial owner (as appropriate) for the purposes of FATCA.A UK financial institution comprises one of four categories of entities (equating broadly to the definition of FFIs in the ...
“FATCA”), which introduce a reporting regime for financial institutions with respect to certain accounts; Whereas, FATCA has raised a number of issues, including that HKSAR financial institutions may not be able to comply with certain aspects of FATCA due to or in relation to any possible or...