Common Reporting Standard overview
To help fight against tax evasion and protect the integrity of tax systems, governments around the world are introducing a new information-gathering and reporting requirement for financial institutions, known as the Common Reporting Standard (CRS).
Why is HSBC asking for this information?
Under the CRS, tax authorities require financial institutions like HSBC to collect and report information about where their customers are tax resident.
If you open a new bank account, invest in new financial products or your circumstances change, we'll ask you to verify some details about yourself. This process is called 'self-certification', and we're required to collect this information under the CRS.
What do I need to do?
Under the CRS, we are required to determine where you're a 'tax resident' (this will usually be where you're liable to pay income or corporate taxes). If you're tax resident outside Oman, then we may be required to provide the details, including information relating to your accounts, to the Oman tax authority. The Oman tax authority may then share that information with the tax authority where you are tax resident.
In order to do this, you'll need to complete a self-certification form. If you are unable to download the form
using this link, you can also download it from www.crs.hsbc.com/en/rbwm/oman, or get a copy from your
nearest HSBC branch.
The complete self-certification form should be submitted at your HSBC branch. Alternatively, you may submit a scanned image of the completed CRS form (PDF or photo) along with a copy of your ID or Resident card by emailing them to us at email@example.com. Please quote “NEW REQUEST WT_ADDL4” in the email subject.
If you have multiple accounts with the HSBC Group, you may receive more than one request for information, so please respond to all requests.
In some cases, we may need to request additional supporting documents from you to enable us to confirm the information on your Self-Certification form. We'll contact you if that's the case.
For more information about CRS and how it affects you, as well as our frequently asked questions, please visit www.crs.hsbc.com/en/rbwm/oman.
If we don't receive a response, we will use the information we already hold in our records to determine whether you may be tax resident outside Oman. In order to ensure that reporting is based on accurate information we encourage you to complete and return the form.