Evading CRS Through Singapore Employment Passes and Apartment Leases

This article references the work of CRS and CARF expert Mark Morris, published on May 28, 2024, titled "The gig is up. Singapore's scam helping Chinese residents evade CRS with work permits and apartment leases is over. China to kick ass and take names." This piece has been authorized by him.

Certain intermediaries in Singapore have been assisting Chinese residents in using the Personalized Employment Pass (PEP) and apartment leases to bypass the Common Reporting Standards (CRS), thereby avoiding the exchange of financial assets held by Chinese residents in Singapore with the Chinese tax authorities. This unbelievable scam has been thoroughly exposed, and rumors suggest that the Chinese government has taken action.

These intermediaries assist clients in evading CRS as follows: