OECD set rules for Citizenship and residency by investment

The OECD has released guidelines in regards to the KYC and risk related required to be applied by financial institutions to their clients based on the rules of Residence and/or citizenship delivered by investment.

The guidelines impose new risk assessment and KYC requirements to be implemented as part of the OECD rules on Automatic Exchange of Information.

Institutions located in OECD member states shall take into account the list of jurisdictions presenting a risk of misuse of their residency/citizenship by investment regime.

Financial institutions are expected to perform respective adjustments to their risk assessment and to include relevant KYC requirement to identify the cases of abuse of such legitimate provision of residency and/or citizenship.



Jaime Prieto

Mr. Jaime Prieto is a lawyer experienced in Financial Crime, Anti-Money Laundering and Counter Terrorism Financing having extensive professional experience in both public and private sectors. Mr. Prieto has been a Head of Compliance in the European Union, the Americas and the Caribbean for banks, trust companies, asset managers, Big Four audit and advisory firms, RegTechs, government agencies and other types of financial professionals. In addition to his experience, he has been legal and educational chair in several compliance and sectorial organisations and performed as a teacher and speaker for a number of organisations and in several local and international forums. Furthermore, Mr. Prieto is an experienced Money Laundering Reporting Officer anda Data Protection officer with additional experience in risk management.
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