Company limited by guarantee is treated like a partnership

Use of Company limited by guarantee is reportable
1. Exchange of Information with Respect to Company Limited by Guarantee (CLG) A company limited by guarantee does not usually have a share capital or shareholders, but instead has members who act as guarantors. The guarantors give an undertaking to contribute a nominal amount (typically very small) in the event of the winding up of the company. It is wrong to assume there is no beneficial owner of a CLG. The members are the beneficial owner(s) as are partners of a partnership.
2. CLG as Investment Entity A CLG will be categorised as an investment entity if :
  1. It is adminsitered by a FI or its assets are managed by an FI, and
  2. It predomintly earns income from financial assets, such as portfolio, insurance policy proceeds, dividends, interest, capital growth, etc.
A CLG as an Investment Entity would be treated like a partnership and report must review its its Financial Accounts and report on reportable Account Holders. The Account Holders are those that have equity and debt interest like a partnership. The CRS page 51 states case of a partnership that is a Financial Institution, the equity interest is either a capital or profits interest in the partnership.
3. CLG as a NFE A CLG as a NFE would be treated like a partnership and the FI maintaining its assets would report on all the CLG Account Holders that have Controlling Interest, i.e. entitled to more than 25% of profits.
4. Investment entity: Where a CLG is a policyholder. If the CLG is an Investment Entity, it must report on its participants. The insurance policy is a Financial Asset, and so the surrender value must be reported. NFE: Where the CLG is a NFE, the insurance company is obliged to follow the CRS exactly. Page 60 of attached CRS The term “Account Holder” means the person listed or identified as the holder of a Financial Account by the Financial Institution that maintains the account. A person, other than a Financial Institution, holding a Financial Account for the benefit or account of another person as agent, custodian, nominee, signatory, investment advisor, or intermediary, is not treated as holding the account for purposes of the Common Reporting Standard, and such other person is treated as holding the account. In the case of a Cash Value Insurance Contract or an Annuity Contract, the Account Holder is any person entitled to access the Cash Value or change the beneficiary of the contract. If no person can access the Cash Value or change the beneficiary, the Account Holder is any person named as the owner in the contract and any person with a vested entitlement to payment under the terms of the contract. Upon the maturity of a Cash Value Insurance Contract or an Annuity Contract, each person entitled to receive a payment under the contract is treated as an Account Holder.
5. Turks and Caicos Company A TCI company is a hybrid of a company limmited by guarantee, except it has a shareholder as well. My opinion brief on why this structure is treated as a partnership is PDF document here.