I am a Banker, MBA (finance and accounting) and LLM (international business and tax law) with 30+ of working experience acquired within the in-house legal and compliance, operations and tax environment of leading Private Banking Institutes, Wealth Management Organisations, Central Securities Depository and Clearing houses and IT Solution provider located in Europe and the APAC Region.

Key areas of experience are

  • the assessment of financial market regulations and tax ordinances and the identification of potential tax and compliance impacts on financial institutions investment product management and product offerings, AML/KYC and client due diligence procedures, account holder’s documentation and disclosure requirements, general terms and conditions, operational procedures and custodian set-up;

  • the drafting of opinions on national and international tax topics related to account holders inbound and outbound investments and the application of existing unilateral or double taxation rules to grant eligible investors double tax treaty benefits in the context of international tax law;

  • the design of AML/KYC and client due diligence policies & procedures and the implementation of IT solutions to identify, validate, document and observe 

    • the tax residency status of individual and legal entity accountholder/beneficial owner including their controlling persons under the OECD Common Reporting Standard (CRS); 

    • the account holders U.S. Taxpayer Status under FATCA.

  • the implementation of policies and IT procedures

    • to identify, validate and observe the tax residency status of Non-US Investors; and

    • to apply the adequate withholding tax rates on U.S sourced income paid to Non-US Investors 

       under the US Qualified Intermediary Regime;

  • the implementation of compliance procedures and IT Solutions to meet the CRS, FATCA, US QI Reporting (1042/1042-S and 1099) reporting obligations; 

  • the draft, review and negotiation 

    • of FI’s contractual documents, terms and conditions client disclosure agreements and internal compliance policies to reflect regulatory and tax changes;

    • of non-disclosure and confidentiality agreements; and

    • of commercial contracts and maintenance agreements.

 

©2019 by Marco Zawar