As of January 1, 2026, new European Economic Area (EEA) regulations (DAC8 and CRS 2.0) have changed how financial institutions and crypto-asset service providers collect tax information. These rules are designed to increase transparency and ensure consistent reporting across all EU member states.
To comply with these laws and keep your Swapin business account active, we are now required to collect and verify Tax Identification Numbers (TINs) for all account holders, including those with multiple tax residencies.
What is Required for Business Accounts?
Under the "Look-Through" principle, Swapin must identify not only the business entity but also the individuals who own or manage it. To activate or maintain your account, you must provide:
Business TIN: The official tax number of the entity (e.g., VAT number or Registration number).
Ultimate Beneficial Owner (UBO) Details: The full name and personal TIN for every individual who owns or controls more than 25% of the company.
Authorised Representative Details: The personal TIN for any person authorised to manage the Swapin account.
Multi-Residency Information: If the business or any associated individual is a tax resident in more than one country, a TIN must be provided for each jurisdiction.
Understanding Multi-Residency
The "best efforts" approach of previous years has been replaced by mandatory reporting. If you or your business are tax residents in two or more countries (e.g., you live in one country but are a tax resident in another), you must provide the TIN for both. Swapin is legally obligated to report account information to the tax authorities in all relevant jurisdictions.
How to Find Your TIN
In most EEA countries, your TIN is now a unified identification number found on your primary identity documents.
Entity/Person Type | Where to Find Your TIN |
Businesses | On your Certificate of Incorporation (often the VAT or Reg number). |
Employees | Listed on your monthly payslip or annual salary statement. |
Students / Others | On your official residence registration or tax assessment letters. |
General (Natural Persons) | Your National ID card, Passport, or Tax ID card. |
How to Update Your Information
You can provide your tax information directly through the Swapin platform:
During Registration: You will be prompted to enter your TIN and issuing country.
Existing Accounts: When updating your profile, you will see fields to add your TIN under the "Personal information" section.
Adding Multiple Countries: Use the "additional tax residency" option if you are a tax resident in more than one country.
Privacy and Security
Your data security is our priority. Swapin.com handles all personal and tax-related information in strict accordance with the GDPR and applicable data protection regulations. This information is used exclusively to fulfil our legal obligations under EU tax law.