Understanding expat tax regulation

Whether you're embarking on your first journey as an expat, or have been living as one for years, it can mean navigating through new and unfamiliar tax systems.

As an expat you're responsible for reporting your own income in any location where you've tax obligations.

It's vital, therefore, that if you've financial interests spread across a number of countries and are unsure about your commitments that you seek independent tax advice.

You can ensure we hold your correct tax reporting details by completing and sending us a Self Certification form (PDF, 77KB).

For more information please read our Frequently Asked Questions (PDF, 90KB).

Certain types of information may suggest a US status for an individual or business. These are:

• US citizenship or US residence
• US place of birth
• US tax residency
• US residence address or US mailing address including US PO boxes
• Current US telephone number
• Standing order instructions to an address or an account maintained in the US
• Current Power of Attorney or signatory authority granted to a person with a US address
• A 'Care of' or 'Hold mail' address which is the sole address for the account holder

HSBC Expat accepts the following documents to establish whether we are required to share information about any accounts and/or investments you hold with us to the Jersey Tax Authority.

We require original copies of the forms and certified copies of supporting materials. You can take original and copy documents to any of our offices to be certified. Alternatively, you can take them to a lawyer, solicitor, advocate, accountant, actuary or Embassy/Consular official.

The W-9 form is a request for Tax Payer Identification Number and Certification for US persons. It is available on the IRS website or use the following link.

The W-8BEN is a request for Tax Payer Identification Number and Certification for non-US persons. It is available on the IRS website or download from below.

We need a current passport or national identity card or other certified copy of government-issued identification, which explicitly states your citizenship/nationality in a country other than the US.

We need a certified Certificate of Loss of Nationality form.

We need one item of documentary evidence that states your permanent residence address or indicates your country of residency or citizenship/nationality.

If you don't have a Certificate of Loss of Nationality of the United States, then you'll need to provide us with a reasonable written explanation of why you don't this or why US citizenship/nationality was not obtained at birth.

To help fight against tax evasion and protect the integrity of tax systems, governments around the world have introduced a reporting and information-gathering requirement known as the Common Reporting Standard (CRS).

HSBC Expat, along with other financial institutions in Jersey (Channel Islands), are required annually to identify and report all affected customers to the Jersey tax authority.

This information will then be shared with authorities in each relevant tax jurisdiction, so it's important that we hold the correct details about you to ensure accurate reporting. 

If our records show that you're impacted by this legislation, we'll contact you in order to verify your tax residency status. 

If you haven't received a letter, it's likely your information indicates that you're not yet due to be reported. However we do need to review all customers, so we'll be in contact in the future.

If you have any further queries regarding the CRS and your tax position, please contact a tax advisor, as HSBC is unable to provide tax advice. You may also find useful guidance on the Organisation for Economic Co-operation and Development CRS portal.

Tax rules vary in each country. Expat banking offers tax-related benefits so it's important to seek professional advice. It's your responsibility to disclose your income to the authorities in countries where you have tax obligations.