Common Reporting Standard Law DIFC Law No. 2 of 2018

List of amending documents:

Amendment Law DIFC Law No. 6 of 2020

Amendment Law DIFC Law No. 2 of 2022

PART 1 — GENERAL 

1. Title 

This Law may be cited as the Common Reporting Standard Law 2018. 

2. Legislative Authority 

The Law is made by the Ruler. 

3. Purpose of the Law 

The purpose of this Law is to: 

a. implement the Common Reporting Standard in the DIFC; 

b. impose obligations on Reporting Financial Institutions to collect and report the information required under the Common Reporting Standard; and 

c. authorise the Relevant Authority to administer and enforce the Common Reporting Standard in the DIFC. 

4. Application of the Law 

This Law applies to: 

a. any Reporting Financial Institution subject to the supervision of the Relevant Authority under this Law; 

b. any Account Holder and Controlling Person of a Reportable Account held with a Reporting Financial Institution subject to the supervision of the Relevant Authority under this Law; and 

c. any other person to whom a provision is specified to apply. 

(as amended by Amendment Law DIFC Law No. 6 of 2020)

(refer to the text in the previous edit...