1. What is an entity?

The term 'entity'* for the purposes of the Foreign Account Tax Compliance Act  FATCA) and Common Reporting Standard (CRS) means any person other than a natural person.

Included in the definition of 'entity' in the FATCA intergovernmental agreement* and the CRS legislation, is any legal person or a legal arrangement such as a trust, partnership, or association.

For these purposes’ ‘entity' includes, but is not limited to, the following juristic persons:

• A private company, being a (Pty) Ltd company.
• A public company, being a Ltd company (this company type could be listed or unlisted).
• A state-owned company (SOC) Ltd.
• An external or foreign company.
• A personal-liability company (Inc).
• A non-profit company (NPC).
• A close corporation (CC).
• A partnership.
• A trust.
• An association. A stokvel.