Passive NFE. Under the CRS a “Passive NFE” means any NFE that is not an Active NFE. An Investment Entity located in a Non-Participating Jurisdiction and managed by another Financial Institution is also treated as a Passive NFE for purposes of the CRS.
Passive NFE means any: (i) NFE that is not an Active NFE; and (ii) Investment Entity located in a Non-Participating Jurisdiction and managed by another Financial Institution.
Passive NFE. Under the CRS a “Passive NFE” means any:
More Definitions of Passive NFE
Passive NFE means any NFE that is not (i) an Active NFE, or (ii) an Investment Entity that is not a Participating Jurisdiction Financial Institution
Passive NFE means any:
Passive NFE means: (i) an NFE that is not an Active NFE; or (ii) an Investment Entity located in a CRS Non-Participating Jurisdiction and managed by another Financial Institution.
Passive NFE means any NFE that is not an Active NFE. Moreover, an Account Holder that is a Professionally Managed Investment Entity in a Non-Participating Jurisdiction as far the Relevant Jurisdiction is concerned, will be deemed a Passive NFE Account Holder under the CRS.
Passive NFE means any: (i) NFE that is not an Active NFE; and (ii) Investment Entity described in subparagraph b) of the “Investment Entity” definition that is not a Participating Jurisdiction Financial Institution. An Entity is a “Related Entity” of another Entity if (i) either Entity controls the other Entity; (ii) the two Entities are under common control; or (iii) the two Entities are Investment Entities described in subparagraph b) of the “Investment Entity” definition, are under common management, and such management fulfils the due diligence obligations of such Investment Entities. For this purpose control includes direct or indirect ownership of more than 50 % of the vote and value in an Entity.
Passive NFE. Under the CRS a “Passive NFE” means any: (i) NFE that is not an Active NFE; and (ii) Investment Entity
Passive NFE means any NFE that is not (i) an Active NFFE or listed / publicly traded entity or entity related to the listed / publicly traded entity, or (ii) a withholding foreign partnership or withholding foreign trust pursuant to relevant U.S. Treasury Regulations or (iii) the gross income of which is primarily attributable to investing, reinvesting, or trading in financial assets, if the entity is managed by another entity that is a depository institution, a custodial institution, a specified insurance company, or an investment entity - (Note: Foreign persons having controlling interest in a passive NFE are liable to be reported for tax information compliance purposes)