Search
asic implements new rules for issuers of CFDs
...FD could be achieved with a modest initial margin. Wholesale clients in Australia may have access to a broader set of instruments, however, less protection measures which apply to retail clients. As a result, **all issuers of CFDs holding an asic license have to review the customer onboarding process and cease the use of the ‘price and value test’**. Moreover, CFDs issuers have to revi...
Path: Blogasic’s strengthens consumer protections by reducing CFD leverage
Recently the Australian Securities and Investments Commission (asic) announced a product intervention order which included restrictions on selling contracts for difference (CFDs) to retail clients, saying it was still concerned about investor protection. This came after the Australian parliament granted asic product intervention powers, similar to those exercised by the European Securities and Ma...
Path: BlogAustralia Crypto License
...FS) licence allows holders to: Offer financial product advice Deal in financial products Operate financial markets and schemes Provide custodial, depository, trustee, crowd-funding, claims handling, and superannuation trustee services asic evaluates AFS licence applications by assessing the applicant's competence, financial resources, and ability to meet regulatory obligations. Note...
Path: LicensingBitmain's IPO: looming threats and insights from a Bear market
When Bitcoin mining and asic miner-producing juggernaut **Bitmain** released its IPO prospectus to the Stock Exchange of Hong Kong in September 2018, the world got to take a peek at some wild growth rates in the cryptocurrency industry not purely linked to astronomical gains from market speculation. The most impressive component is the leap from Bitmain’s 2016 revenue ($278M) and profit ($11...
Path: BlogHow to Obtain a Crypto License in Saint Vincent and the Grenadines
...bal standards for preventing money laundering and terrorist financing. Virtual Cryptocurrency Registry While SVG maintains a registry of companies, it does not specifically list cryptocurrency businesses by their activity. The registry provides basic information such as the company name, registration number, and type of legal entity (LLC or IBC). The virtual cryptocurrency registry does not de...
Path: BlogForex Markets Related Regulations After Pandemic
...t any additional regulation in the medium term but rather enhanced supervision and guidance in the form of Guidelines, Circulars within the existing regulatory framework. In August last year, the Australian Securities and Investment s Commission (asic) revealed its consultation paper which introduced to ban binary options and place leverage restrictions on CFDs and regarding this paper asic has...
Path: BlogPros and cons of Central Bank Digital Currency in the view of the IMF
...exchange ranges due to the risk of dollarization. A number of countries are seriously considering the adoption of CBDC. This week China is one step closer to issuing its official digital currency. The country has finalized the development of the basic functions of its CBDC and is currently drafting the laws governing the circulation of the digital currency. Read our blog to keep abreast of ...
Path: BlogCompliance deadline of January 2020: Crypto exchanges implement FATF anti-money laundering standards
...do not have legally binding force, these regulations still possess power in relation to the financial systems. The FATF includes 36 economies – among them are the largest ones which have a significant impact on the global finance operations. This basically means that implementation of the FATF’s norms can change the game. Moreover, non-compliance can put disobedient jurisdictions to the FATF...
Path: BlogInnovate! Crypto exchange OKEx has recently released data analysis platform for derivatives trading
... on holder activity, typical hold time and popularity, and price correlation as trading signals. Introduction of these analytics allows users to create customized and informed trading strategies, which rely on information beyond raw price and other basic market data. Read our blog to keep abreast of all actual and interesting technology news.
Path: BlogAustralian securities and investments commission proposes CFD restrictions and binary options ban
...oses that Australian retail investors have received and will continue to receive from binary options and CFDs. In the sense of CFDs, much like the European Securities and Markets Authority (ESMA), Australian Securities and Investments Commission (asic) has suggested several restrictions, in particular enforcing leverage limits, improving transparency of CFD pricing, execution, costs and risks, ...
Path: BlogHow to store your crypto with the less tax consequences
...are subject to the seven percent Goods and Services Tax. At the same time, in Hong Kong, cryptocurrencies are defined as virtual commodities that are not taxed as goods, but any profit made in trading shall be treated as income. According to the basic principle of decentralization, cryptocurrencies stand out for national legal frameworks. You can buy it whenever you want, they are listed on int...
Path: BlogA new license assessment procedure will be adopted for certain AFS applicants
The Australian Securities & Investments Commission (asic) has recently adopted a new approach to its financial services licensing procedures (AFS) for certain applicants. asic has also released an actual guideline in this regard. Warren Day, asic Executive Director said the following: *"asic has reviewed the AFS license assessment processes and has streamlined its assessment processes in so...
Path: BlogCyprus banks overdid it with risk prevention tactics
...ed by Michael Christos, it is an absolute must to terminate shell companies. But Cyprus has now gone to the extreme of being far too devoted to the implementation of anti-money laundering regulations. The risk prevention strategy of Cyprus banks basically is also influencing companies which are operating a legal business. As a result of these actions, they either close their accounts and leave ...
Path: BlogAustralian commision requires each and every piece of information about its brokers
**One week ago, Australian Securities and Investments Commission (asic), in accordance with the new Product Intervention Law, was granted with a set of ‘tools’ that can be applied if brokers offer their products to wrong customers.** asic has already started to actively use its new powers. The regulator has issued a data collection notice to brokers, requiring a great deal of information...
Path: BlogAustralia adopted a new product intervention law
Under the new law, the Australian Securities and Investments Commission (asic) is gaining the same powers ESMA has in Europe, but it might be limited in using those for the next two years. The Design and Distribution Obligations and Product Intervention Powers Bill or simply Treasury Laws Amendment has recently passed both houses of Australian Parliament. **A new bill is going to essential...
Path: BlogStarting your own business in Saint Vincent and the Grenadines
...any in St. Vincent and the Grenadines? In addition to a simple international business company, you can easily form a LLC, insurance company of trust fund. This is one more difference of SVG from other offshore jurisdictions. Insurance company is basically not the best idea when starting a small business in Saint Vincent but it is an excellent idea for experienced entrepreneurs. When you are ch...
Path: BlogBusiness advantages of Belize offshore jurisdiction
... limited partnership, banking business, trust or mutual fund, international insurance company, online gaming, Belize shipping company and others. Everything is under the law and most types of offshore entrepreneurships are tax exempt. **What are basic advantages of starting a business in Belize?** Like another popular offshore jurisdiction, formation process is fairly simple. Number of direc...
Path: BlogFresh breath of air for innovative financial services in Labuan
...financing. By doing this, Labuan entities committing IFS shall adhere to AML and CFT Requirements issued by Bank Negara Malaysia and LFSA. Labuan entities implementing IFS have to assure that their trade operations can serve for such activities. Basically, they would need to prove sufficient level of capital; sufficient framework of internal policies and controls; computerized risk management a...
Path: BlogWhy do they always choose Cyprus?
...e it too. There is a thought that business in Cyprus is popular because of their taxation. We are not going to bust this myth but it still needs to be analyzed deeper. Let us look at the different reasons to choose Cyprus as an offshore country. Basically, the biggest advantage of Cyprus is exactly its tax policy. It has become most popular after 2004th, when it joined the EU. After changing ta...
Path: BlogWhy is Limited Liability Partnership a popular business structure?
...ted before registering LLP is the Limited Liability Partnership Agreement. It defines roles and responsibilities of both partners are defined in this agreement. Also, you can outline personal capital investments, distribution of profits and losses, basic liability and any restrictions. This document will prevent any misunderstandings or conflicts between partners and will let them function effecti...
Path: BlogHow to set up a business on Bahamas?
...tration and legalization process takes up to 10 days. You should collect all required information and documents and file an association memorandum with the Registrar General – governmental authority responsible for incorporation of the companies. Basically, you can complete registration process within a week if you have a proper consultant assistance and all necessary documents collected. Wha...
Path: BlogSecrets of starting a business in the UAE
...andled to the employees. However, if you want to obtain a residence permit, you can apply to the immigration service. Keep in mind that every zone has their own policy statement and visa issues so it is better to learn more about the details first. Basically, residency visas will be valid for three years and need to be extended afterwards. There is a long list of requirements and restrictions t...
Path: BlogHow to report foreign income on US tax return?
...lf-employment tax would not be applied. Also, forming an offshore company will let you defer your earnings and reduce income tax as well. Your earnings can be reported in amount of $100,000 and there will be no need to pay income tax in the US. Basically, any job abroad can be organized to avoid unnecessary payments. OffshoreLicense Ltd will be glad to assist you with any taxation advice or he...
Path: BlogNew hype or a real irreplaceable instrument. Contracts of digital age.
...at people mean under the term **smart contracts**. According to technical definition, they’re a specific type of contract created and stored on a blockchain, designed to facilitate legally binding, self-executing transactions between parties. The basic idea, Nick Szabo wrote, is that “many kinds of contractual clauses (such as collateral, bonding, delineation of property rights, etc.) can be e...
Path: BlogHow to choose a suitable company structure for your business?
... least two partners to start a business. In most cases, both of the partners are equally reliable for financial obligations of the company. However, some of partnership`s liability can be limited due to capital investments they made in the company. Basically, partnership requires governmental registration and obtaining necessary licenses for functioning. 3. Corporation is a type of company stru...
Path: Blog6 things to consider when going offshore in 2017
...y time and to avoid any urgent problems you cannot solve. 6. Avoiding double taxation for your company. Contract work is a significant part of any company’s work. Analyzing your requirements, you can choose treaty or non-treaty jurisdictions. Basically, if OffhoreLicense Ltd customers mostly work with contractors fr om different countries – best choice for taxation will be treaty jurisdict...
Path: BlogGo Tech! 15% Corporate Tax in China for Tech Companies
...onnel to use this tax benefit. It encourages young people to get the best education and employers to choose the most qualified staff. At the same time, the tax benefit does not apply to companies that use more than 35% of the outsourced activity. Basically, lowering corporate tax to 15% for such companies gives many benefits to the country itself. Before 2008, corporate tax used to be 33%, then ...
Path: BlogWhy Moving Your Business Offshore Sounds Reasonable
...tract more businesses. Also, there are many countries where you do not have to have a physical office or localof employees. **Offshore Banking Facilities for Your Business.** Benefits offshore bank account offers for your business differ from basic services a lot. Opening an offshore bank account will offer your company various benefits. There are different currency options, risk protection ...
Path: BlogPost-Brexit UK markets access for Gibraltar
...s not stop as well. For now, there are relevant matters to fix or develop in Gibraltar ecological state. Cooperation will consist of informational policy, creating promotions for Gibraltar’s interest, working with scientists and other experts. Basically, at the moment most important cooperation points between Gibraltar and the UK are now set out. Until 2020 cooperation will be going this way ...
Path: BlogUsage of artificial intelligence for financial institutions in Singapore
...y and ethical use of technology itself. Right now, big corporations are not limited by legal requirements, but by the end of this year The Monetary Authority of Singapore promises to release the abovementioned guidelines. Guidelines will contain basic principles and practical recommendations for financial institutions that use AI solutions. Data collection, analytics and use guidance will be av...
Path: BlogChinese financial services opening up to foreigners
...ers, futures companies, and life insurers. These businesses will have the foreign ownership cap set at 51% and after 3 years this limitation will be removed. Foreign agents will also be allowed to provide insurance agent and loss adjuster services. Basically, **companies with foreign ownership will be treated the same way as those with domestic capital**. Moving forward to stock markets - chang...
Path: BlogNew securities policies from Bahamas Regulator
...etrocessions and commissions when calculating net regulatory capital. These changes were made due to the fact that receivables are often important for the operations of such firms and do not necessarily increase the firm's risk profile. This is basic information regarding the policies. With **Offshorelicense Ltd** you always be aware of actual legislative changes!
Path: BlogAttention! New guidelines for crypto holders were announced by the UK Tax Agency
...s use case, than its definition. HMRC stated that the guideline takes into account the taxation of exchange tokens (like Ethereum or Bitcoin) and does not particularly treat utility or security tokens. For utility and security tokens it provides basic principles. The report goes into details, explaining to UK residents how and when their possessions or related transactions might be classifie...
Path: BlogSwitzerland Limited Liability Company Formation
... 26 cantons, and each canton has its’ own tax system. In general, in Switzerland there is a three-level tax system: At a federal level - the federal profit tax (3.63% - 9.8%) and taxes to export of the capital (35%); On canton level - the basic profit tax (20% - 35%); Communes assess incomes, basically in percentage terms fr om canton taxes. Depending on a kind of carried out activity,...
Path: CompaniesCyprus Limited Liability Company Formation
...Africa. Cyprus is an important European business hub providing major advantages to foreign investors such as a low tax haven, a stable economy and a welcoming territory for any type of investments. The company registration procedure in Cyprus is basically the same for all business entities, having a simple and straightforward structure. Cyprus is a leader amongst international tax planning j...
Path: CompaniesCuracao Gambling License
...Are of public record Taxation 0% tax on gross bets 2% corporation tax for e-Zone companies that retain annual compliance No VAT, Sales Tax or import duties No restriction on dividend withdrawals. Accounting requirements - Basic reports should be submitted. Secretary - Required Registered Agent - Required Registered office - Servers should be locat...
Path: LicensingVanuatu Dealer's in Securities License
...on (VFSC). Vanuatu is a great location for forex brokers with limited amount of resources because capital (or bond) requirements are relatively small. Application for a Principal’s license or a Representative’s license is not expensive and basically requires to provide a set of basic information for the applicant. Also, it requires to confirm and to provide information of previous or exis...
Path: Licensing