At the moment, only the account holder can access a Tide account, but we’re close to launching a product that will let you grant access to team members, directors, and more.
You’ll also be able to choose different levels of access depending on your business’ needs.Foreign Account Tax Compliance Act (FATCA), and the Common Reporting Standard (CRS).
Important: To use the Tide app devices must run on either iOS 15 or above, or Android 10 or above.
An Active NFE earns a significant portion of its income from manufacturing, sales, providing services, or anything else that can be considered ‘active business operations’.
Active NFEs get more than 50% of their gross income from active trade or business, or have more than 50% of their assets in operational business activities that generate income.
What is a Passive NFE?
A Passive NFE gets more than 50% of its earnings as passive income – from interest, rents, dividends, and royalties.
There are different reporting requirements under FATCA and CRS, depending on whether a company is an Active or a Passive NFE. Understanding the difference between the two company types is crucial for international tax compliance.
