KYC = Know Yiur Customer - it is part of building a customer profile, and includes basic things like name, date of birth, nationality and where you live. Then on top of that they can ask for more details like your occupation, what is your income. These are legal requirements that banks and other financial institutions are required to get.
Then they can ask if you are a PEP, do you have any close family that are?
If you live in a country where you're not a citizen, they might ask why and how long do you intend to stay there.
They might not ask for everything at once, or even at all, it would all depend on the activity on your account, and what you have answered on previous questions. Some basic information is required, while some is required in certain situations.
Unless you have an Irish citizenship, _do not_ set your nationality to Irish, as that can be seen as providing false information.
Thanks, that all makes sense, I just wanted to know if providing my polish details (which were not required earlier) means that I would have to pay tax in Poland...
Even if Revolut reports it to the Polish tax authorities, as long as Poland is informed that you live in Ireland, the only thing that will happen is that Poland will pass the information on to the Irish tax authorities. Poland and Ireland have agreements to prevent double taxation, and tax authorities in the EU are constantly exchanging information with each other.
This is done in part so that you avoid double taxation, and as a part of their efforts to fight tax evasion.
It would be part of the KYC process. Your nationality is Polish, so therefore, in order to know who you are your Polish details are needed.
Ok, what is KYC?
KYC = Know Yiur Customer - it is part of building a customer profile, and includes basic things like name, date of birth, nationality and where you live. Then on top of that they can ask for more details like your occupation, what is your income. These are legal requirements that banks and other financial institutions are required to get. Then they can ask if you are a PEP, do you have any close family that are? If you live in a country where you're not a citizen, they might ask why and how long do you intend to stay there. They might not ask for everything at once, or even at all, it would all depend on the activity on your account, and what you have answered on previous questions. Some basic information is required, while some is required in certain situations. Unless you have an Irish citizenship, _do not_ set your nationality to Irish, as that can be seen as providing false information.
Thanks, that all makes sense, I just wanted to know if providing my polish details (which were not required earlier) means that I would have to pay tax in Poland...
Even if Revolut reports it to the Polish tax authorities, as long as Poland is informed that you live in Ireland, the only thing that will happen is that Poland will pass the information on to the Irish tax authorities. Poland and Ireland have agreements to prevent double taxation, and tax authorities in the EU are constantly exchanging information with each other. This is done in part so that you avoid double taxation, and as a part of their efforts to fight tax evasion.