FATCA and CRS Clause Samples

FATCA and CRS. The Subscriber agrees to provide to the Company or its agents, upon request, any documentation or other information regarding the Subscriber and its beneficial owners that the Company or its agents may require from time to time in connection with the Company’s obligations under, and compliance with, applicable laws and regulations including, but not limited to, FATCA and the Common Reporting Standard (“CRS”) developed by the Organisation for Economic Co-operation and Development, both FATCA and CRS as implemented in the Cayman Islands. By executing this Subscription Agreement, the Subscriber waives, to the fullest extent permitted by law, any provision under the laws and regulations of any jurisdiction that would, in the absence of such waiver, prevent or inhibit the Company’s compliance with applicable law as described in this paragraph including, but not limited to preventing (a) the Subscriber from providing any requested information or documentation, or (b) the disclosure by the Company or its agents of the provided information or documentation to applicable governmental or regulatory authorities. The Subscriber further acknowledges that the Company and the Adviser may take such action as each of them considers necessary in relation to such Subscriber’s holding and/or withdrawal proceeds to ensure that any withholding tax payable by the Company, and any related costs, interest, penalties and other losses and liabilities suffered by the Company, or any other investor, or any agent, delegate, employee, director, officer or affiliate of any of the foregoing persons, arising from such Company’s failure to provide any requested documentation or other information to the Company, is economically borne by such Subscriber. Such actions may include, but are not limited to, the following (a) The disclosure by the Company or such other service provider or delegate of the Company, of certain information relating to the Subscriber to the Cayman Islands Tax Information Authority (“TIA”) or equivalent authority and any other foreign government body as required by FATCA or CRS. Such information may include, without limitation, confidential information such as financial information concerning the Subscriber’s investment in the Company, and any information relating to any shareholders, principals, partners, beneficial owners (direct or indirect) or controlling persons (direct or indirect) of the Subscriber. (b) The Company may compulsorily withdraw the Subscriber in acco...

FATCA and CRS. 33.1 In accordance with the FATCA/CRS Reporting Rules, we may be required to submit certain information relating to the Customer and the Account to the Cyprus tax authorities which may in turn provide this information to other foreign tax authorities. Such information may include (but shall not be limited to) the Customer’s name, address, tax residency, tax identification number, Account balance and payments made with respect to the Account (the “FATCA/CRS Reports”). 33.2 If we are required by the FATCA/CRS Reporting Rules to file the FATCA/CRS Reports, we may, and the Customer hereby authorises us to, do so without the Customer’s further confirmation or consent. 33.3 Where any information is required by the FATCA/CRS Reporting Rules or by any regulatory or governmental authority to be reported in relation to the Customer and/or the Account, the Customer undertakes to provide us with such information within fifteen (15) Business Days in order to allow us to comply with such a requirement. 33.4 The Customer shall advise us promptly of any material developments or changes in the Customer’s circumstances which may affect our reporting obligations under the FATCA/CRS Reporting Rules, in particular: (a) For all legal entities and individuals – if the Customer becomes a US Person or changes its tax residency status; and (b) For Passive NFEs – if any of its existing ultimate beneficial owners holding (directly or indirectly) 25% or more of the Customer’s share capital becomes a US Person or changes his/her tax residency status. 33.5 We will continue to treat the Customer as being reportable under the FATCA/CRS Reporting Rules unless and until we receive a confirmation from the Customer which in our reasonable opinion indicates a change of status of the Customer for FATCA and/or CRS reporting purposes. 33.6 The Customer hereby acknowledges and confirms its obligation to provide us with information pertaining to its identity and to whether it qualifies as a US Person and/or a foreign tax resident as well as of any other FATCA and CRS related information that may be reasonably requested by us for the purposes of the FATCA/CRS Reports. Furthermore, the Customer acknowledges and accepts that should its failure to provide us such information result in any fines or penalties, it will be liable for the full payment of these and it shall fully indemnify us for any such fines and penalties as well as any costs incurred in defending our position in any action taken by any t...

FATCA and CRS. Blacktower is obliged to obtain certain information from all clients as part of our procedures pursuant to various international tax commitments. These commitments include various tax arrangements that exist to enable automatic exchange of information and includes FATCA (the US Foreign Tax Compliance Act) and the Common Reporting Standards. Clients are obliged to complete a self-certification document providing their tax details and are to inform Blacktower promptly should these details change.

FATCA and CRS. The Bank's Foreign Account Tax Compliance Act (FATCA) Policy (the "FATCA Policy") and the Bank's Common Reporting Standard (CRS) Policy (the "CRS Policy") form part of the terms and conditions governing the Subscriber's relationship with the Bank established under these Terms. The FATCA Policy and the CRS Policy shall be binding on the Subscriber and the Subscriber agrees to comply with and adhere to the FATCA Policy and the CRS Policy, which are accessible at ▇▇▇.▇▇▇▇.▇▇▇/▇▇▇▇▇▇▇▇-▇▇▇▇▇▇▇▇ or available on request. These Terms are subject to the FATCA Policy and the CRS Policy.

FATCA and CRS a. The Foreign Account Tax Compliance Act (FATCA) was signed into law in the United States (U.S.) on 18 March 2010. It is aimed at preventing U.S. taxpayers from using accounts held outside of the U.S. to evade taxes. Any financial institution that fails to comply with FATCA will face a 30% withholding tax on a wide range of U.S. sourced payments to its clients. FATCA is implemented in South Africa via the Intergovernmental Agreement (IGA) signed between South Africa and the U.S; b. The Organisation for Economic Cooperation and Development (OECD) has created a global Standard for the Automatic Exchange of Financial Account Information in Tax Matters. This Standard includes a Common Reporting Standard (CRS) that sets out the due diligence rules to identify reportable accounts. These rules have been translated into South African Law via the CRS Regulations that were issued under the Tax Administration Act; c. In order to determine the impact of FATCA and CRS to the Company’s relationship with the Client, the Client is requested to complete the FATCA and CRS questionnaire set out in Annexure C. Information collected will be used solely to fulfil our obligations under the IGA and CRS Regulations, and will not be used for any otherpurpose.

FATCA and CRS. The Client must provide all information and documentation to the Custodian, at the request of the Custodian, which the Custodian reasonably requires in order to comply with any obligations under FATCA and CRS, including any relevant tax identification numbers (such as Australian tax file numbers and/or Global intermediary identification numbers), arising from or in connection with the provision of the Custodian Services.

FATCA and CRS. (a) In the event that by reason of the execution of this Trust Agreement the obligations related to FATCA and CRS are applicable, compliance with such obligations shall be the responsibility of the Trust, for which purpose the Trustee shall hire, upon written instruction from Vista, an external advisor to provide advisory services, at the expense of the Trust Estate, in connection with the compliance with such obligations. The Trustee, with the prior instruction of Vista, shall grant a special power of attorney to such Person as it may designate and with such powers as may be necessary to conduct any acts necessary for the performance of such obligations, provided that the Trustee shall not be liable for any acts performed by such attorney in fact. (b) The Trustee and the Beneficiaries of this Trust Agreement shall be obligated to provide Vista and its designee with all documentation and/or information reasonably requested by Vista with respect to the identity (including name, date and place of birth), nationality, citizenship, residence (including tax residence), percentage of participation, tax status, taxpayer registration number (or tax identification number), beneficial owners (or controlling persons), nature of income earned, or any other information related to the Beneficiaries of this Trust Agreement, taxpayer registration number (or tax identification number), beneficial owners (or controlling persons), so that Vista and its advisors may evaluate and comply with any present or future obligations related to FATCA and CRS arising from activities conducted through the Trust (including any information and/or documentation related to the laws for the prevention and identification of transactions with illicitly derived resources) or, as the case may be, to obtain or request the exemption or refund of any applicable Tax (the “Tax Information”). In addition, each Participant or its Legitimate Successors shall update or replace its Tax Information to the extent of any material change (including changes in circumstances) with respect to the Tax Information previously provided.