Can Russian nationals access LCORE's Abu Dhabi vault despite Western sanctions? A1: LCORE cannot onboard OFAC/EU/UK-designated persons. Non-sanctioned Russian nationals and Russian entities not on restricted lists may be eligible, subject to enhanced ADGM KYC review. Each application is individually assessed. Q2: Is allocated physical gold at LCORE safer than a Russian gold ETF? A2: Yes, in terms of custody risk. LCORE holds specific, serial-numbered bars in your name — not a fund unit or bank liability. Even if LCORE were dissolved, the allocated bars would revert directly to clients under ADGM law. Q3: Does LCORE report Russian client accounts under CRS? A3: The UAE participates in the OECD Common Reporting Standard. Russian clients' accounts are reportable to Russian tax authorities under the CRS bilateral exchange framework — clients should comply with Russian CFC and asset reporting rules.

Question

Accepted Answer

LCORE cannot onboard OFAC/EU/UK-designated persons. Non-sanctioned Russian nationals and Russian entities not on restricted lists may be eligible, subject to enhanced ADGM KYC review. Each application is individually assessed. Q2: Is allocated physical gold at LCORE safer than a Russian gold ETF? A2: Yes, in terms of custody risk. LCORE holds specific, serial-numbered bars in your name — not a fund unit or bank liability. Even if LCORE were dissolved, the allocated bars would revert directly to clients under ADGM law. Q3: Does LCORE report Russian client accounts under CRS? A3: The UAE participates in the OECD Common Reporting Standard. Russian clients' accounts are reportable to Russian tax authorities under the CRS bilateral exchange framework — clients should comply with Russian CFC and asset reporting rules.

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