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Maybank Account Opening

Maybank is Malaysia's largest bank by market capitalisation and total assets and one of the largest banks in Southeast Asia, with total assets exceeding US$165 billion and having a net profit of US$1.75 billion for 2015.Account opening: 7-14 working days Overview: Maybank has an international network of over 2,400 branches and offices in 20 countries, employing 45,000 empl...

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Credit Suisse bank Account Opening

bank’s strategy is to be a leading wealth manager, with strong investment banking capabilities. We seek to follow a balanced approach to wealth management, aiming to capitalize on both the large pool of wealth within mature markets as well as the significant growth in wealth in Asia Pacific and other emerging markets. Founded in 1856, Credit Suisse today has a global reach with operations in ab...

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Alpha bank Account Opening

Alpha bank Romania provides your company all types of financial operations and services through the entire branches network covering the most important localities in Romania - cash deposits directly at our counters or cash payments, cash pick-up, incomings with payment orders, checks and promissory notes collection etc.Account opening: 7-14 working days Overview: Earl...

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Fidelity Asia bank Account Opening

Fidelity Asia bank (FAB) is a wholly owned offshore banking subsidiary of the Fidelity bank Group and is licensed by the Labuan Offshore Financial Services Authority of Malaysia.Account opening: 7-14 working days Overview: Fab banking offers a lifelong partnership dedicated to giving banking solutions that will work in time to help your business succeed. FAB se...

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LPB bank Account Opening

LPB bank provides banking products and services for private and corporate customers in Latvia, EU member states, and internationally.Account opening: 7-14 working days Overview: One of LPB bank's priorities is the safekeeping and protection of its own and its Customers business reputation, by eliminating the involvement of the bank in money-laundering and terrorism financi...

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LPB bank Account Opening

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Account Opening in National bank of Vanuatu

National bank of Vanuatu is the only commercial bank in Vanuatu that also operates outside of Port Vila and Luganville. Through its network of 27 branches and agencies, NBV offers a comprehensive range of services in Business, Retail, Rural, International, Treasury and Investment banking.Account opening: 7-14 working days Overview: National bank of Vanuatu Limited provides...

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HSBC Hong Kong bank Account Opening

The Hong Kong and Shanghai banking Corporation Limited is the founding member of the HSBC Group. Established in 1865 to finance the growing trade between Asia and Europe, it has become the biggest bank incorporated in Hong Kong.Account opening: 7-14 working days Overview: From the late 1950s the bank began to grow and diversify by acquiring other banks, including Hong Kong...

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Public bank Berhad Account Opening

Public bank Berhad is a bank based in Kuala Lumpur, Malaysia offering financial services in Malaysia as well as the Asia-Pacific region.Account opening: 7-14 working days Overview: Public bank Berhad provides various commercial banking and related financial services to individual and business customers in Malaysia and internationally. It offers savings, current, fixed depo...

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Maybank Account Opening

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CIMB bank Account Opening

CIMB Group Holdings Berhad is a Malaysian universal bank, headquartered in Kuala Lumpur and operating in high growth economies in ASEAN. CIMB Group is an indigenous ASEAN investment bank, the largest Asia Pacific (ex-Japan) based investment bank and one of the world's largest Islamic banks. CIMB has a wide retail branch network with 1,080 branches across the region.Account opening: 7-14 working d...

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Account Opening in bank of Georgia

bank of Georgia is the leading bank in Georgia, with more than a third of the market share in Georgia based on total assets, total loans, total deposits and total shareholder's equity.Account opening: 7-14 working days Overview: JSC bank of Georgia provides a range of banking products and services to corporate and individual customers in Georgia. The company operates throu...

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Account Opening in bank Alpinum

bank Alpinum is one of Liechtenstein’s few independent private banks. Founded by a group of experienced bankers, legal experts and businesspeople, the bank is dedicated to helping private and corporate clients, entrepreneurs and their families attain their personal goals in terms of safeguarding and growing their wealth.Account opening: 7-14 working days Overview: bank A...

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Raiffeisenbank bank Account Opening

Raiffeisenbank is a member of Austrian Raiffeisen Group that also offers products and services in the Czech Republic in the area of building savings, insurance and leasing.Account opening: 7-14 working days Overview: According to total assets over CZK 300 billion, the bank is 5th largest in the market. Raiffeisenbank serves clients at more than 120 branches and business cl...

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bank Account Opening in ING bank

The ING Group is a Dutch multinational banking and financial services corporation headquartered in Amsterdam. Its primary businesses are retail banking, direct banking, commercial banking, investment banking, asset management, and insurance.Account opening: 7-14 working days Overview: ING is a global financial institution with a strong European base, offering banking servi...

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Comert bank Account Opening

At the moment Comertbank is a modern European bank, with management and high quality service that provides customers a secure financial support and complex. Comertbank offers a wide range of banking and financial services in Moldova, paying particular attention to advanced banking services.Account opening: 7-14 working days Overview: Special attention Comertbank dedicated ...

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Euro Pacific bank Account Opening

Euro Pacific bank is an international financial group in the banking, brokerage, mutual fund and financial services industries, headquartered in Puerto Rico.Account opening: 7-14 working days Overview: Euro Pacific bank differentiates itself through a unique banking model. Many of the traditional banking services (mortgages, car loans, credit cards, trade finance etc.) are...

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Barclays bank Account Opening

Barclays is a British multinational banking and financial services company headquartered in London. It is a universal bank with operations in retail, wholesale and investment banking, as well as wealth management, mortgage lending and credit cards. It has operations in over 50 countries and territories and has around 48 million customers.Account opening: 7-14 working days Overview: ...

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Account Opening in bank of Georgia

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Pacific Private bank Account Opening

Pacific Private bank is a full-service bank founded in 1997 and registered in Vanuatu, an international financial center in the Pacific. Its geographical, economic, tax and legal environment is favorable for foreign investor capital protection.Account opening: 7-14 working days Overview: Pacific Private bank is a full-service bank founded in 1997 and registered in Vanuatu,...

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Pacific Private bank Account Opening

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Account Opening in National bank of Vanuatu

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HSBC Hong Kong bank Account Opening

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Public bank Berhad Account Opening

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Comert bank Account Opening

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CIMB bank Account Opening

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Account Opening in bank Alpinum

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Account Opening in bank of Cyprus

bank of Cyprus is the leading banking and financial services group in Cyprus, with significant market shares across all businesses.Account opening: 7-14 working days Overview: The bank provides a wide range of financial products and services which include retail and commercial banking, finance, factoring, investment banking, brokerage, fund management, private banking, lif...

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Raiffeisenbank bank Account Opening

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Barclays bank Account Opening

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Fidelity Asia bank Account Opening

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Euro Pacific bank Account Opening

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Credit Suisse bank Account Opening

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bank RBK Account Opening

bank RBK JSC is a universal Kazakhstani banking institute with balanced development indicators. The bank makes serious investments in development of human capital, infrastructure, information technology and own brand.Account opening: 2 months Overview: JSC bank RBK has a history since the foundation in 1992 of Meken bank, one of the first private banks in independent Kazak...

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Labuan Investment banking License

Labuan, a special region of Malaysia which addresses mainly to offshore companies and which provides an attractive taxation system, offers several types of banking licenses available for both local and foreign investors who want to establish a bank in this location.Timeframe: around 6-12 months Minimum paid up capital: MYR 10 million or its equivalent in any other currency ...

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St. Vincent and Grenadines International banking License

Saint Vincent and the Grenadines grants fair opportunities for setting up an International bank as well as provides great business advantages – banks are exempt from any taxes. Registration of International banks is governed by the International banks Act of 2004 and Regulations. Supervision body for International banks is the Financial Services Authority.Timeframe: between 4 and 8 month...

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Vanuatu International bank License

Issue of the International bank license and regulation of the business activities undertaken by the licensees fall under the International banking Act of 2002 and are controlled by the Reserve bank of Vanuatu.Timeframe: from 4 months Net assets: must be positive of at least USD 500,000.00 Overview Vanuatu is an established offshore finance center in the Pacific region ...

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bank One bank Account Opening

Headquartered in Port Louis, Mauritius, bank One is a universal bank serving the four main segments namely consumer banking, corporate, private and international.Account opening: 7-14 working days Overview: bank One provides a wide range of banking products to its clients through a chain of 13 branches and a well-distributed ATM network across the island. The bank also off...

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bank One bank Account Opening

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Boslil bank Account Opening

BOSLIL bank Limited was formerly known as bank of Saint Lucia International Limited and changed its name to BOSLIL bank Limited in March 2017.Account opening: 7-14 working days Overview: Boslil bank Limited (Boslil) is an international bank dedicated to providing some of the world's best financial products and services. Among the products clients can access are multi...

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Tengri bank Account Opening

JSC “Tengri bank” is a commercial bank of the Republic of Kazakhstan providing a wide range of banking services to legal entities as well as individuals.Account opening: 2 months Overview: The bank’s strategic mission is to provide its customers with a wide range of innovative banking products and services through utilization of the professional staff knowledge, achi...

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Account Opening in bank of Cyprus

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Tengri bank Account Opening

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bank Account Opening in ING bank

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bank RBK Account Opening

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CIM bank Account Opening

CIM bank is a leading Swiss Private bank based in Geneva, Lugano and Wollerau.Account opening: 14-18 working days Overview: CIM bank works under the authorisation of FINMA, the Swiss Financial Market Supervisory Authority, and is a member of the Swiss Exchange and of the Swiss bankers Association (SBA). CIM bank is well known and has been proudly rewarded for t...

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CIM bank Account Opening

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AfrAsia bank Account Opening

AfrAsia bank is a Private and Corporate bank in Mauritius. It is one of the commercial banks licensed by the bank of Mauritius, the country's central bank and the nation's banking regulator.Account opening: 7-14 working days Overview: AfrAsia bank is a large financial services provider in Mauritius and in the adjacent continental sub-regions of Southern, Central and Easter...

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AfrAsia bank Account Opening

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Alfa bank Account Opening

Universal, high-tech bank, with a developed regional network, providing comprehensive services and individual solutions to its customers.Account opening: 14-18 working days Overview: Alfa bank is the largest privately owned bank with well-established diversified franchise, successful footprint of mass corporate segment and solid positions in retail banking. Alf...

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Alfa bank Account Opening

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Alpha bank Account Opening

Alpha bank Romania provides you all types of financial operations and services through the entire branches network covering the most important localities in Romania - cash deposits directly at our counters or cash payments, cash pick-up, incomings with payment orders, checks and promissory notes collection etc.Account opening: 7-14 working days Overview: Early in 2000...

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Boslil bank Account Opening

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Financial conduct authority of the UK has banned binary options for private investors

The FCA’s rules are permanent and are in force as of 2 April 2019. In July 2018, the **FCA enforced a temporary ban on trading binary options for the retail segment. As was expected, this restriction will now remain permanent in force.** This decision, adopted by the regulator, did not come as a big surprise to market participants. The FCA’s rules, in general, are the same as the Europe...

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Cambodia will launch a central bank digital currency

...n the coming months. Bakong central digital currency was designed by the Japanese blockchain company. The company Soramitsu has developed a system that supports any type and number of currencies, including crypto. As explained by the Central bank’s director-general Chea Serey, **the central bank digital currency (CBDC) will bring all participants in Cambodia’s payment space under the s...

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Government of India working on law to ban crypto trading

...er on the cryptocurrency industry’s global stage. While neighbor countries to the east and west have made themselves international hubs for the cryptocurrency industry, India has, arguably, been left behind. In the beginning of 2020 the Reserve bank of India (RBI), the country’s central banking institution, clarified to the country’s supreme court that although banks in India are forbidde...

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Pros and cons of Central bank Digital Currency in the view of the IMF

The interest towards Central bank Digital Currencies (CBDC) keeps growing since the early developments that started more than a decade ago. According to the International Monetary Fund (IMF), about 80% of central banks are exploring CBDC at some level. Last week the IMF’s Managing Director briefed the pros and cons of CBDC, below are outlined some of them. Among the advantages of ado...

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Crypto-Friendly bank ‘freeze’ bank account

For those companies or people dealing with crypto transactions on a daily basis, or those buying cryptocurrencies as an investment, finding a suitable bank and open an account that will hold their funds is essential. Cryptocurrencies banking is viewed as high risk by many banks. This however does not mean there are not options for you or your company, with a regulated banking provider who have t...

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German regulator is planning to implement ban on binary options

...retail customers will remain prohibited in the country.** BaFin, in response to the expiry of ESMA's (European Securities and Markets Authority) temporary measure, has announced its own prohibition measures. German regulator stated that permanent ban would be in force if the European-wide measures are not renewed. BaFin has outlined its objectives in a general administrative act. German regu...

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Lawyers’ Lobbying Efforts result in lifting Crypto-ban in Vanuatu

One of the most popular offshore licensing jurisdictions faces changes. Dealing with Cryptocurrencies was banned by Vanuatu authorities for a long time. If the VSFC license holder had a small reference to crypto on his website, regardless whether as a means for payment, a traded commodity or a CFD, VSFC license could have been revoked and the USD 50,000.00 bond forfeited – never-minding the ...

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The Central bank of the Bahamas expressed digital currency plans

It is very likely that soon Bahamians will have their own digital currency. **The Central bank of the Bahamas disclosed the plans to issue their own electronic money and establish digital currency as a legal tender.** According to the Central bank, introducing the cryptocurrency will be a valuable input for handling economic issues. It will be the blockchain-based digital fiat currency dubbed...

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Australian securities and investments commission proposes CFD restrictions and binary options ban

...ptions enable traders to bet on the price of an asset or a particular currency or commodity over a short time-frame. This option allows traders to actually buy or sell the underlying asset, currency or commodity, which will not be possible after the ban. **A CFD is a contract for difference between the opening and closing price of an asset, for example, the movement in a share price of a liste...

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The Hong Kong Monetary Authority Has Issued New Online banking Licenses

The Hong Kong Monetary Authority (HKMA) has recently stated that it is issuing four more virtual banking licenses, bringing the total number of virtual banking license owners to eight. This means that the overall number of banking licenses of various types operating in Hong Kong is equal to 160. **Norman Chan, the HKMA’s chief executive officer stated:** **“**We are pleased to grant f...

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Cyprus banks overdid it with risk prevention tactics

...us and their establishment in other jurisdictions will have a domino effect for the local economy, as anticipated by the president of CFA. The very foundation of International Business in Cyprus is now at risk. **Recent directives of the Central bank of Cyprus, in addition to worldwide new measures against money laundering and tax evasion, have put local banks under great pressure to close cli...

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First central bank issued digital coin in the euro zone

**The Central bank of Lithuania announced in April of 2018 that it was exploring the possibility of issuing its own digital currency.** Two years later, in July of 2020 Lithuania is about to issue the first central bank-produced digital coin in the euro zone. This week the Baltic country will issue the digital coin- LBCOIN, as part of a project to trial central bank digital currencies and blo...

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Cyprus has transferred to Moscow Russian bank account holders data for 2017

...t tax fraud has entered a new level. According to "The Bell", as of September 2018, 82 countries promised to transfer information to the Federal Tax Service of Russia (FTS). Full name of the client, account number, name and details of the foreign bank, account status, cash flow for the year, the client’s investment income from the sale of shares, and interest on deposits and bonds should be d...

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Albania is preparing a legal framework for virtual assets

In 2017, the Albanian Central bank issued a warning to citizens that digital currencies like Bitcoin were not under the direct supervision of the domestic banking sector regulations and that such assets carried high levels of risk. **Currently in Albania are no law providing for the regulation, prohibition or penalty in connection with virtual assets and related services.** But to change that...

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China's Central bank is planning to ban crypto airdrops

**The People's bank of China (PBoC), China's central bank, has its eyes on cryptocurrency companies that are conducting free airdrop campaigns in the country.** In its latest financial stability report for 2018, which was published on November 2, 2018 the **central bank stated that there has been a surge in the number of "disguised" Initial Coin Offerings (ICO)**, as well as free distribution ...

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Singapore authorities are planning to support crypto startups with receiving banking services

The Monetary Authority of Singapore (MAS), also known as the city-state's central bank, is currently working on the new approach to provide cryptocurrency startups with internal banking services. The above-mentioned development is part of the country's efforts to boost its fintech development sector. Based on the statement of Ravi Menon, MAS managing director, the **government of Singapore is...

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Leading Russian banks intend to work with crypto

During a meeting, held at the Moscow Exchange, **numerous Russian banking organizations expressed their readiness to collaborate with the industry of cryptocurrency and blockchain**, stated Russian news site RBC on September 19. According to an unnamed source, cryptocurrency has a huge potential in Russian region and the demand over the past year has grown significantly, but the banks are unab...

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World bank launches first global blockchain bond-i and raises AU$110 million

**The World bank created bond-i** (blockchain operated new debt instrument), the world’s first bond to be created, assigned, transferred and administered through its life cycle using distributed ledger technology (blockchain). The bond raised AU$110 million, marking the first time that investors have supported the World bank’s development activities in a transaction that is fully managed ...

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Is Accepting Bitcoin a Reasonable Choice for banks?

...l perspectives for sure and all we have is a forecast and assumptions. The rapid growth of the Bitcoin rate and dozens of successful ICOs made many entrepreneurs change their minds about this phenomenon . One of the latest news is the BNP Paribas bank expressing the official position of its governing board. They think that cryptocurrencies cannot be as reliable as the traditional currencies. Th...

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China bans Popular FX Broker Services

...hin mainland, only if they are licensed by the government. All website traffic is thoroughly monitored and the commercial activities are controlled by the governmental authorities. In November, the information was leaked regarding the new website bans. Popular FX brokerage websites were blocked whilst they were not Chinese. For example, such services as FXCM, FxPro, Aetos, XM and other. The mai...

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“To trade or not to trade?” or How Chinese Exchanges Overcome the Bitcoin ban?

*It is a wide-known fact that China had banned Bitcoin exchanges. The reason for this ban is the government’s statement that frauds and money laundering took place on the exchanges.* Before these bans, China had a trustworthy role as one of the biggest **cryptocurrency** trading markets. At the same time, this country is ahead with the mining business and became, actually, one of the cente...

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Deltec bank Account Opening

...hamas is an ideal location for investment and business. Headquartered in The Bahamas, Deltec is an independent financial services group that delivers bespoke solutions to meet clients’ unique needs. The Deltec group of companies includes Deltec bank & Trust Limited, Deltec Fund Services Limited and Deltec Investment Advisers Limited, Deltec Securities Ltd. and Long Cay Captive Management....

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Deltec bank Account Opening

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Czech Republic PSP License

PSP is a legal entity which can provide merchant accounts to merchants who want to accept payments and process them. To be able to work as a PSP, a legal entity must obtain a PSP (the License), supervised by Czech National bank (CNB).Timeframe: 6-9 months since the company’s establishment, depending on the documents provided Minimum paid capital: EUR 125 000 (it is advised to have 2-10%...

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Andorra Limited Liability Company (SL) Formation

Andorra has gone through numerous changes for the last few years in order to abandon the status of “tax heaven” and to become a transparent and modern economy and a well-reputed low tax jurisdiction.Timeframe: up to 3 months Minimum paid up capital: EUR 3,000 Accounting and audit: starting from 5,500 EUR + 4,5% VAT * *Depending on the number of transa...

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Georgia Crypto License

Georgia has become an attractive destination for cryptocurrency businesses due to its favorable regulatory environment and supportive government policies. The National bank of Georgia oversees the regulation of crypto activities, ensuring compliance with local laws and international standards. To operate legally, crypto exchanges and related businesses must obtain a license, which involves meetin...

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Canadian Limited Partnership Formation

Canada is an excellent jurisdiction for foreign investment and for doing business due to the strong and well regulated banking system, relatively low corporate tax rates.Incorporation: up to 3 working days + delivery time for the courier Minimum paid up capital: No minimum capital requirement Overview Limited Partnerships is a simple form of business registration ...

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Czech Republic small Electronic Money Institution License

...issue and distribute electronic money and provide payment services. To be able to issue electronic money and provide services associated with it, a legal entity must obtain a small Electronic Money License (the License), supervised by Czech National bank (CNB). An authorized EMI exchanges virtual electronic money (issued by EMI) for the funds of customers in form of cash.Timeframe: 6-9 months sinc...

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Georgia Payment Service Provider Authorization (PSP)

Payment Service Provider authorization issued by the National bank of Georgia allows a legal entity to manage payment systems within the territory of Georgia and to provide services stipulated in the Law of Georgia on payment systems and payment services.Timeframe: Within 3-5 months Minimum paid up capital: Case-by-case Overview In order for a company to apply for a Pa...

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Lithuania Payment Institutions License

In order to provide payment services a payment institution is to be licensed by the bank of Lithuania. A Lithuanian licensed payment institution may perform services such as money remittances, payment transactions, cash deposit and cash withdrawal services, and other closely related to those services. However, a payment institution may not accept deposits from unprofessional market participants a...

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Czech Republic small PSP License

PSP is a legal entity which can provide merchant accounts to merchants who want to accept payments and process them. To be able to work as a PSP, a legal entity must obtain a small PSP (the License), supervised by Czech National bank (CNB).Timeframe: 6-9 months since the company’s establishment, depending on the documents provided Minimum paid capital: EUR 50 000 (it is advised to have ...

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Isle of Man Gambling License

...d by the laws of the UK. The Island is famous as a low tax economy with zero capital gains tax, wealth tax, stamp duty, or inheritance tax. Also, the island is extremely favorable for business as it has 0% Corporate Income Tax. It is considered as a banking and financial services hub with tourism also making a significant contribution to the economy.Incorporation & obtaining license: 3 months ...

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Mauritius Global Business License (GBL), PIS

For the eighth consecutive year, the World bank's 2016 Ease of Doing Business report ranks Mauritius 1st among African economies and 32nd worldwide out of 189 economies in terms of ease of doing business, making Mauritius the leader in economic freedom for the region of Sub-Saharan Africa.Timeframe: 4-6 months from the date application is lodged with the Financial Service Commission of Mauri...

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Bitcoin fortifying its positions: El Salvador, Paraguay and Beyond

...mplementation: “We have witnessed the emergence of a new journey through the internet,” she declared. “I know that throughout the nation, including Tanzania, they have not accepted or started using these routes. However, my call to the Central bank is that you should start working on that development. The Central bank should be ready for the changes and not be caught unprepared.” The ef...

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Tanzania takes steps to cryptocurrency implementation

...legal tender status in El Salvador, Tanzania has also made steps towards wide-spreading Bitcoin usage. According to local media reports, this Sunday, 13.06.2021, Tanzanian president, Saami Suluhu Hassan, gave a speech, in which she urged the central bank to start preparations for cryptocurrency implementation. She stated, that it is impossible to ignore the fact, that cryptocurrency and blockch...

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El Salvador: Bitcoin will become legal tender, alongside the US dollar

...�s GDP. The use of bitcoin will be optional for individuals and will not bring risks to users, Bukele said, with the government guaranteeing convertibility to dollars at the time of transaction through a trust created at the country's development bank banDESAL. Under the law, bitcoin must be accepted by companies when offered as payment for goods and services. Tax contributions can also be p...

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Nigeria’s Crypto regulation as a solution for financial services

... specific clarification what legal framework will look like, but it is said that if the virtual digital assets can be classified as securities and they will be treated as securities and will fall under the jurisdiction of the SEC. In 2018 Central bank of Nigeria did declare that crypto-currencies such as Bitcoin, Ripple, Monero, Litecoin, Dogecoin and others, were not considered as the money or...

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ASIC’s strengthens consumer protections by reducing CFD leverage

...ations also stipulate negative account protection by ensuring that clients are not able to lose more than their trading stake, avoiding a repeat of debacle following the 2015 Swiss Franc collapse. Additionally, to these changes, new ruling imposes a ban for bonuses and other incentives, whether monetary or non-monetary, that may have encouraged overtrading in recent years. The main objective of...

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Can Bitcoin Replace Gold As the Safe-Haven Asset?

...t money is invested in decentralized finances, it is understandable to raise a question which of these values will be supreme against other. Taking into account that major economies are backing negative interest rates this leaves investors paying banks to keep their funds, and with central banks extending enormous easing programs, capital avoidance from bonds in search for the yield is likely t...

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New requirements for Lithuania and UK EMIs

...ered as a part of the European Securities and Market Authority (ESMA) post Brexit, there is not a mandatory obligation for the UK to introduce 6 AMLD principles. On the other side, Lithuania EMIs which are licensed and regulated under the Central bank of Lithuanian and is a part of the EESMA and is one of the leading jurisdictions in transposition and implementation is expected to fully transpo...

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EU and US propose legislative changes regarding digital asset industries

...ecoins) that is in line with Europe’s Markets in Financial Instruments Directive (MiFID), which is a legal framework for securities markets, trading venues, and investment intermediaries. Approximately the very same time, US Conference of State bank Supervisors (CSBS) announced the launch of MSB Networked Supervision, a set of compliance guidelines for large Money Service Businesses (MSBs) in...

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Germany Introduces Draft Bill on Blockchain-Based Digital Securities

...Germany is the major influential participant in the EU and naturally, it wants to take a significant role in the new paradigm of digital securities and the blooming decentralized finance sector. At the beginning of 2020, Germany had allowed local banks to sell cryptocurrencies to their customers. After approving the sale, 40 banks had reportedly applied for crypto custody licenses by February 2...

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Legalization of Cryptocurrencies in Russia

...se suggestions were not supported by already operating crypto businesses and proposed law faced backlash from the industry participants. Therefore, Russia’s ministry of economy criticized the bill being considered in the State Duma, which seeks to ban the use of bitcoin and other cryptocurrencies in Russia by including requirements that would punish crypto dealers with prison terms and hefty fin...

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FATF votes to greylist Malta. Global anti-financial crime watchdog advises enhanced monitoring for Malta

...sition leader Bernard Grech described the decision as a "punishment for the entire nation" and urged the government to set up a unity task force to limit the greylisting damage. The FATF “grey list” includes 19 other countries ranging from Albania to Zimbabwe. It includes strife-torn countries such as Syria, Yemen and Myanmar as well as tax havens such as Panama and the Cayman Islands. ...

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Mauritius is set to rise as one of the best jurisdictions for global financial services once again

...ist as well. This is clearly a great outcome for the small country, as they will be able to rise as a global financial services industry leading jurisdiction once over. Mauritius ranks 1st amongst the African countries, 13th globally in the World bank's Ease of Doing Business 2020 report and this removal/de-listing reinforces Mauritius’s position as a leading investment destination and domici...

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Japan and South Africa are to set new crypto regulations

...e for Japanese regulators. Though usage of stablecoins is now limited to trading cryptocurrencies, Facebook’s attempt to launch Diem (previously known as Libra) caught regulatory attention worldwide. Just like other top monetary regulators, the bank of Japan is currently working on a central bank digital currency (CBDC), and the proposed regulations on the crypto industry will only complement...

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Japan to Tighten Crypto Rules for Preventing Sanctions Evasion

...actions are taken in light of intentions to crack down on any loophole that allows sanctioned countries like Russia to evade sanctions through cryptos. The revision “presumably enables the government to apply the law to crypto-asset exchanges like banks and oblige them to scrutinize whether their clients are Russian sanction targets,” Saisuke Sakai, a Senior Economist at Mizuho Research and Te...

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Old ways won’t open the new doors

...The only and major difference is that there is a requirement to have a local office. However, this can be outsourced and used wisely. **Mauritius** enjoys proper due diligence and reputation of a compliant offshore, at the same time offers great banking facilities in the jurisdiction itself. The company apart from others, may enjoy local banking facilities with ABC banking Corporation, AfrAsia...

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Establishing an Offshore Business: An Overview

...ty: Protect your personal and commercial assets from unforeseen legal, political, or economic circumstances by implementing asset security. Global Expansion: Expand your business internationally by gaining access to foreign markets, banking, and expansion prospects. Offshorelicense ensures that your offshore company adheres to international rules, allowing yo...

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How to Start Your Own Forex Brokerage Business

...t in stable and secure solutions to provide clients with a seamless trading experience. 5. Configure Payment Systems Clients expect convenient and secure ways to deposit and withdraw funds. To meet these expectations, you’ll need: A corporate bank account for transaction processing Payment gateways to support various payment methods Partner with banks that have experience in the Forex i...

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How to Obtain a Crypto License in Saint Vincent and the Grenadines

... and the Grenadines does not have specific legislation exclusively governing cryptocurrency activities as of now. However, the country's involvement in the ECCU pilot program reflects its openness to digital currencies. The Eastern Caribbean Central bank (ECCB) initiated this pilot program to test a digital version of the Eastern Caribbean Dollar (DXCD), which could potentially serve as a model fo...

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Comprehensive Guide to Opening an Offshore Company in Seychelles

...zes the company's legal status and allows it to commence operations. ![seyshelles-company-formation-2.jpg](https://offshorelicense.com/storage/app/uploads/public/66a/3a6/802/66a3a68025496009417500.jpg) Opening a Seychelles Company with a bank Account 1. Importance of a bank Account Having a corporate bank account is crucial for managing financial transactions and ensuring smooth ...

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How to Get a Crypto License in 2024

... is similar to an exchange license but specifically targets entities engaged in trading cryptocurrencies on behalf of clients. This type of license ensures compliance with anti-money laundering (AML) and know-your-customer (KYC) regulations. Crypto banking License A crypto banking license enables a financial institution to offer banking services such as deposits, loans, and payment services in c...

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Controversy on 30% Crypto Tax in India

... they are being harsh, the industry is optimistic about the future of cryptocurrencies in India. No, the tax laws do not legally define cryptocurrencies, but they definitely legitimize the digital currencies, when the industry was expecting a crypto ban by the government. The ultimate fate of cryptocurrencies in India will be decided by the upcoming draft bill that is expected to be introduced ...

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Five Fundamental Changes in FinTech from FCA

...d can assess the possible negative impact. In general, any step away from the business plan can cost a license for the company. **Higher standards and more guidance** During recent years, the FCA has been continuously raising standards for non-bank payment services providers. The regulator focuses on making sure that FinTech companies do not harm consumers and that they are resilient. Regul...

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Indian Declaration on Cryptocurrencies Proposes Jail Term for Violation of Rules

...ng in the nearest time.** While Indian government is still working on development of cryptocurrency legislation, which is expected to be set on vote in the ongoing session of the Indian parliament, this legislation included a proposal of complete ban on cryptocurrency use as a payment method and violation of such law may lead to criminal charges. According to anonymous sources, the draft bil...

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India is up to Classifying Crypto-Exchanges as e-Commerce Platforms

...ng of several crypto exchanges, while regulatory scenario is still remaining dark. During the last few weeks, the Indian government has held a number of high-level meetings focused on cryptocurrency and its regulation. In spite of previous plans to ban cryptocurrency circulation in the country, the recent attitude of the government became indulgent. The widespread of crypto-services over the ...

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Head of the Estonian Financial Watchdog Endangers Crypto License Holders

... money laundering issues in Estonia. Since last year, Estonia has been tightening its checks on crypto companies by launching licenses cancelation campaigns. The country itself came under the spotlight of money laundering accusations after Danske bank, the Denmark’s biggest lender, was charged of watching $230 billion through a tiny Estonian branch. Furthermore, northern Baltic country was am...

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Cyprus Securities and Exchange Commission (CySEC) accepts new policy for Crypto-Asset providers

...e Registration and Operations of Crypto-Asset Service Providers. **According to CySEC regulations, the following is considered to be Crypto-Assets:** Digital representations of value which are: • Neither issued nor guaranteed by a central bank or a public authority; • Not necessarily attached to a legally established currency; • Does not possess a legal status of currency or ...

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South Korea is planning to establish Crypto-Focused Bureau

...in South Korea** Issues raised by the crypto-regulation became the most popular topic for South Korean government over last few months. According to the new directives, which are implied by the FSC and the Financial Intelligence Unit (FIU), those banks performing crypto-exchange must issue accounts using customers’ reals names in order of money laundering prevention. Exchanges failing to c...

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Cuba is up to define Crypto Regulation Guidelines

**Miguel Diaz-Canel, the President of Cuba, has left hints on the possibility of crypto-regulations in various speeches during last couple of months.** banco Central de Cuba (BCC – The Central bank of Cuba) – has left a message in its official gazette in regard of their plans to define a set of rules in order to recognize and regulate cryptocurrencies and the industry itself within the Is...

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The great step towards China

...mpany formation in major jurisdictions and legal assistance during all stages of your business. Our goal is to make any business as sustainable and manageable as possible, hence, our establishment services, followed by professional assistance with **bank account and Payment Service Provider (PSP) account opening**, are set-up upon your request. What is more, Offshorelicense Ltd supremacy is pos...

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REGISTERED ADDRESS AND VIRTUAL OFFICE

...ountries where the registered organization or legal entity is incorporated. A registered physical office address is required for incorporated organizations to receive official correspondence and formal notices from government departments, investors, banks, shareholders and the general public. At the same time Offshorelicense LLP offers you Communication Services and Space services in order to crea...

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Forex Markets Related Regulations After Pandemic

...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 large response. ASIC has not implemented any changes yet,...

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Black pearl of Caribbean. International business company at Saint Vincent and the Grenadines.

...n IBC are not recorded in any public registry. Saint Vincent and the Grenadines IBCs are not obligated to file annual returns nor financial statements. Furthermore, the jurisdiction has a pretty small but solid and appropriately regulated private banking sector. Saint Vincent and The Grenadines is an attractive jurisdiction that has consented to implement the OECD’s automatic exchange of i...

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Bitcoin and its possible impact on insurance

...forward and hassle-free. One of the significant technological strides in the financial sector is the invention of bitcoin. **Bitcoin is a new type of currency which can be used in financial transactions without the need for a middleman** (usually banks). Bitcoin was invented back in 2009 and has been gaining popularity since then, reaching an all-time high worth $ 17,900 on December 15, 2017. ...

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Polymath CEO Trevor Koverko on smart investing, secret societies, and security tokens

...just a little. “Everyone was younger, this was like a decade ago. We just grew up in the space together. Then it went mainstream and exploded. We didn’t expect that. I get nostalgic because back then it was very pure and authentic. No one was bandwagon jumping. People actually believed in what Bitcoin and crypto were about.” **But Security Tokens Will Leave a Lot of People Out** If ...

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The government of Zimbabwe is willing to treat bitcoin same way Switzerland does

Recently **Mthuli Ncube, the new minister of Finance in the Republic of Zimbabwe has stated that it is in the country’s interest to enforce Bitcoin at a national level**,similar to the way Switzerland does. Referring to the Swiss central bank’s “investment and understanding” in Bitcoin, the financial minister said he will communicate with the Reserve bank of Zimbabwe (RBZ) to follow t...

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Mauritius is willing to adapt distributed ledger technology and acknowledge the cryptocurrency as digital asset

...l FinTech activities applicants. The representatives of Mauritius also stated that National Regulatory Sandbox License Committee is due to be setup in the nearest future. The above-mentioned organization will be formed from representatives of the bank of Mauritius (BoM), MFSC, Mauritius’ Economic Development Board (EDB) and Financial Intelligence Unit. **The KYC policies also will be updat...

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Lolli: how legit is the customer loyalty program that rewards users in bitcoin

... need to build a business with the latest tech in mind. And that, as you may suspect, falls firmly in the lap of blockchain. **Where Did the Name Come From?** Alex explains that as a young boy his dad would often take him and his sister to the bank. He always hated banking but looked forward to that small reward at the end of each trip – a lollipop. Alex firmly believes that Bitcoin is the...

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Cryptocurrency: what are your options?

...ers, investors should research the concept of the blockchain, which serves as the facilitator for the financial transactions involving cryptocurrency. Transactions could revolve around financial contracts, real estate deeds, personal identification, bank transfers, and also insurance. After doing the necessary research on the blockchain, investors should also be mindful of ICOs. This type of netwo...

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Fresh breath of air for innovative financial services in Labuan

...tive measures. Among the other things, having adequate safeguards to handle risks related to money laundering and the countering of terrorism 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...

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The Cook Islands first licensed online foreign exchange money changer

...tside of the Cook Islands is not allowed unless an additional approval is grated by the FSC. Each shareholder, director and / or other competent employee of the applicant should be a fit and proper person to hold that position. **Click on the banner below** to find other useful information regarding the process of obtaining a Cook Islands Money-changing Business License. [![cook2.PNG](...

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Bitmain's IPO: looming threats and insights from a Bear market

...ing pools with an estimated 17.83% chunk of the total hash rate. However, as with any company absolutely crushing it in a relatively untapped new market, competitors start to rush in like sharks at the sniff of blood. Companies like Canaan, Inc, Ebang International Holdings, and even Samsung are likely going to encroach on Bitmain’s mining and mining equipment sale dominance. Prior inves...

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Launch of a new EU trade body - The European Digital Payments Industry Alliance

... market-based solutions that compete for trust of payment services users. New EU payment trade body is the only trade body that represents particular digital payment services providers that are based in Europe and do not get involved directly in banking services. Europe has a wealth of world-class payments institutions which have become strongholds of Europe’s fintech environment Based on me...

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What is coin selection and why does it matter?

...ransactions that happened before this update. This has created a digital equivalent of everyone having a wallet comprising 70% nickels and dimes, and perhaps 30% notes of value. The difference being that you can’t take your Bitcoin wallet into the bank and ask them to change all of those Satoshis back into Bitcoins for you. **How Does This Happen?** Bitcoin runs on a concept called UTXO, o...

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Malta as the new crypto bay

...de by the Maltese government on the legislative front. This is a great opportunity for stakeholders and all 5,000 delegates attending the event.”* The aforementioned summit has been in the planning since last December and there will be a lot of banks and big names in venture capital units attending. It is set to take place at the InterContinental Hotel at St Julian’s on the island. Stay ...

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Shenzhen International Finance Expo 2018

...heir business inquiries at **Shenzhen International Finance Expo 2018**. It was a great pleasure to meet you and introduce our products and services in person, as well as provide some of you with initial consultations on Licensing, Incorporation and banking services. For those of you who did not have the opportunity to meet us in person, do not hesitate to contact us with any questions or furth...

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Top 5 crypto-friendly jurisdictions

...ar readers, today we would like to draw your attention to the **most crypto-friendly zones around the world**. **SINGAPORE** Singapore, an island city-state that is opened to both cryptocurrencies and blockchain. The government and the central bank of the country are chasing a clear blockchain plan with the objective to connect central banks worldwide through DLT (distributed ledger technolo...

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How blockchain will combat bias in news reporting

...s in bias in news reporting which has had some startling effects over the years. **Examples of Media Bias in News Reporting** Tobacco advertising created a now-shocking bias in news reporting. Advertising of tobacco is now heavily regulated or banned in many countries because of the well-known risks that smoking causes to health. During the 20th century, many news outlets were reluctant t...

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Herding in the most volatile market in decades

...viour is a phenomenon that occurs when individuals try to mimic the trades of others and thus traders copy each other. Two of the most important aspects is price and volume, especially the direction of causality between them. Think of it like the bandwagon effect in economics. Which is a term that is used by economists to explain certain psychological actions that people take in their everyday ...

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New crypto regulation from Switzerland

...posits of up to 100 million Swiss francs (or just over $100 million), under the condition that these funds are not investments and the companies does not pay interest on them. This development is a consequence of a recent revision to the country’s banking Act by the Federal Council to support fintech innovation. As of the upcoming year, blockchain companies that wish to be licensed under the ...

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Five reasons why you should incorporate Delaware LLC

...ds. The unmatched working hours, for instance, makes it possible for any last-minute work to be finished up to midnight. For critical issues, it offers the fastest service possible with a 30-minute option (for an additional charge). Click on the banner below to find other useful information regarding the process of USA Delaware Limited Liability Company Formation. [![read more.png](http...

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Offshore jurisdictions introduce strict requirements for tax residents

...es pledged to carry out reforms til the end of 2018. It is worth to note that the above-mentioned requirements will not apply to all registered organizations. **The new requirements will apply mainly to the tax residents in the sphere of finance, banking, insurance, and leasing.** For newly created companies, the requirements will take effect as of January 1, 2019. Currently registered companie...

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The main benefits of Cyprus formation

...t of the actual shareholder - beneficial owner. **Advanced and effective system** Cyprus is also known for its high level of corporate services delivered by specialists, such as lawyers and auditors. What is more, Cyprus offers one of the best banking systems that might assist with operations of international firms. Regardless of the fact that Cyprus is one of the world´s smallest countr...

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Tax storm. British Virgin Islands ceased to be a "haven" for shall companies

... in the field of tax and corporate preferences. **What's changing?** The new law applies to all legal entities that are registered in the British Virgin Islands, claim to local residency, and belong to one of the following business activities: banking, insurance, fund management, finance and leasing, freight traffic activities, holding activities, intellectual property management, distributi...

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Japan's Financial Services Agency is ready to approve crypto exchange-traded funds (ETFs)

...regarding cryptocurrency**. The above-mentioned bill is created in order to increase the level of self-regulatory administration of crypto-industry and classify a lot of ICO tokens as securities, the bill may come into force by 2020. The FSA has abandoned its plans to include permission for trading crypto derivatives on financial exchanges due to its concerns that this only encourage speculatio...

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Mandate registration is coming! South Africa wants to regulate crypto

...regulatory group of experts in South Africa, comprised of South Africa’s Financial Intelligence Centre (FIC), Financial Sector Conduct Authority (FSCA), National Treasury (NT), the South African Revenue Service (SARS) and the South African Reserve bank (SARB), released a clarification paper on crypto assets this week.** The SARB is very careful when it comes to comprehensive regulations for t...

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Malaysia is planning to regulate initial coin offerings as securities offerings

...without SC’s approval may be punished, on conviction, with imprisonment not exceeding 10 years and fine not exceeding 10 million Malaysian ringgits [$2.44 million].”* It is also worth pointing out that the SC in collaboration with the Central bank (bank Negara Malaysia) together will prepare a complete legal framework on digital assets before the end of Q1 2019. The Commission replies o...

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The government of Delaware has recently adopted enhanced business screening procedure

Secretary of State has recently announced new rules that take effect on January 1 and will require that **new companies incorporated in Delaware should undergo a screening process and examined in relation to the list of persons that were banned from doing business in the USA**. The new KYC ("Know your customer") procedures were developed to ensure that a person applying registration with Delaw...

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Australia is planning to implement blockchain technology in order to automate transaction reporting

...h the Swinburne University of Technology in Melbourne for the purpose of building a model for testing. The aforementioned associates will particularly test how blockchain and related technologies, are able to help organizations and in particular banks to automate their functions with regards to financial reporting. Beta period has been started in December last year and will probably last for a...

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Russian Tax Authority has received data on foreign accounts and assets of its citizens in 58 countries

... received via automatic exchange will correspond with the information already in possession by the authority. It is presumed that only 10–15 percent of information may differ. It is also worth noting that the FTS also transmits data related to bank accounts of non-residents to relative foreign authorities. banks, insurance and management companies, depositories and brokers must inform the FT...

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EU Member States Granted Citizenship To Over 800 Thousand People In 2017

...nted the most number of citizenships by the EU Member States in 2017 were citizens of **Morocco** (67 900 people, 83% of them acquired citizenship of Italy, Spain or France), groups that had the most citizenships issued to were also citizens of: **Albania** (58 900, 97% acquired citizenship of Greece or Italy), **India** (31 600, over 53% acquired British citizenship), **Turkey** (29 900, over 50%...

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Canada is Planning to Restrict Cryptocurrency Short Selling

...f the document: ***"Although DLT may provide benefits, global incidents point to crypto assets having heightened risks related to loss and theft as compared to other assets."*** If the framework is approved, it will probably cause a huge disturbance amid cryptocurrency traders, mostly due to the proposition to strip them off the two widely used trading instruments, namely, short selling and ...

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Bahamas issued guidance related to financial crimes prevention

...s has announced two newly drafted guidance documents for financial services companies regarding prevention of financial crimes.** The first of them – **“Guidance Note on Financial Crime Risk Management”** – is proposed at licensees in the banking and non-banking financial sectors and is aimed to deliver instruction on financial crime-related risk management at the business and client le...

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Mauritius Global Business Category 1 (GBC1)

...his is that a GBC1 formation is developed, for tax purposes, to be resident in Mauritius. A business unit retaining a GBC1 license are able to participate any activity starting from simple investment holding, fund management, insurance to other non-banking financial services. Recently the legislation of Mauritius was amended. In accordance with the last changes in Mauritius, a GBC1 formation a...

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Blockchain technology to be used for cross-border forex transfer in China

...ult, fewer costs, as well as overall it will be possible to access more reliable data. After the completion of the pilot project, which is expected to continue for six months, the platform will be adopted nationwide. It is also informed that many banks are involved in the project as well. Read our blog to keep abreast of all interesting and actual forex news.

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6 things to consider when going offshore in 2017

... as the best location for IT-business, Eastern Europe - for agricultural and so on. Depending on business perspectives and goals, necessary payments can be reduced in chosen country and, as a result, business will bear only necessary expenses. 3. banking facilities and reliability. When the jurisdiction is picked and founder or CEO of business comes to opening a bank account, more questions ar...

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Business advantages of Belize offshore jurisdiction

... is regulated by 1990 and 2000 government acts that one by one have created a friendly environment for offshore companies. This act is not only useful for entrepreneurs who incorporate business in Belize but also for investors, domestic business and banks. Except for traditional IBCs, Belize is a jurisdiction where you can easily operate limited partnership, banking business, trust or mutual fu...

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Pros and cons of Labuan company formation

...ish company in Malaysia is that you need to obtain work and entry visas to perform business activities in this jurisdiction. It is not a complicated process and it is also common to obtain visas for the whole family. What can we say about opening bank account and operating it in Labuan? There is a wide choice of trustworthy banks and, if needed, trust agents who will operate your banking acc...

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Starting your own business in Saint Vincent and the Grenadines

...s 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 choosing a good bank to open an account for business it is important to analyze the whole sector of needed jurisdiction. In Saint Vincent and the Grenadines, a specia...

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How to set up a Limited Partnership in Scotland?

...ng to the UK laws. So, starting a small business in Scotland in form of Limited Partnership is a reasonable and allows you both optimize taxes and use all advantages of legal entity like owning property, signing agreements and even borrow money from banks. Let us move on to Scottish company formation procedures. Starting a limited partnership does not even require an address. If you have ope...

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Starting offshore business in Vanuatu

...sidered as one of the friendliest locations for starting up the company? We will answer most popular questions about Vanuatu offshore company formation and give you a professional advice.* **What are the benefits of doing business in Vanuatu?** banking system is one of the most important arguments in favor of doing business in Vanuatu There are two local owned and two foreign owned banks i...

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How to set up a business on Bahamas?

...re is a special list you should get acquainted with. Also, international companies cannot involve in providing agent services. For trading or conducting your services for the Bahamas citizens, you should receive a special permit from the government. banking, insurance and investing services will also require a special license. Another important fact is to start paying annual maintenance fee after ...

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Why should you invest in offshore business?

... are afraid of lawsuits or other financial troubles can easily invest in company offshore. This can keep your assets safe and also help increase your income. Confidentiality and secrecy laws are also crucial when investing offshore. Corporate and banking rules usually do not allow disclosing investor’s name or company which is he investing in. It means that high-level investors can be afraid ...

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Move business wisely. What to consider when choosing offshore jurisdiction?

...sdictions. For full understanding of this process in the EU, you should be acquainted with “Transfer Pricing Guidelines for Multinational Enterprises and Tax Administration”. Legal asset protection is important but it is not panacea. Reliable banking facility without hidden obligations or payments is a big part of successful business. There are internationally reputed banks, like bank of Cy...

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Secrets of starting a business in the UAE

...things which every entrepreneur should know while forming a business in the UAE.* First of all, this jurisdiction offers a really favorable climate for business. We are talking about political state of country, economic development, infrastructure, banking facilities and other advantages. For different types of businesses, these reasons might be crucial. Also, the UAE have a 79.6 percent of busin...

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What needs to be included in your offshore business plan

...which will help him grow the most effective company, gain maximum profit and reduce unnecessary expenses. Here are some benefits of smart offshore business planning: • local taxes are much lower than onshore; • money is stored in a reliable bank in a best possible way for your business; • bank account opening and all related banking expenses are reasonable; • It is cheaper and eas...

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6 ways to save your assets in case of business problems

... to improve the liquidity and in the same time remove unnecessary expenses, which usually appear in overdue payroll taxes. It may lead to business fines or even criminal proceedings. Paying taxes on time will save you from these consequences. 2. bank loans sounds like a good way to handle financial problems of your business. But you should consider it multiple times before making this decision...

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How to choose a suitable company structure for your business?

...t is a good choice to select a limited partnership structure if you are looking to establish a new partnership. For example, general partnership or sole proprietorship, does not include a liability protection for the owner of the company. In case of bankruptcy, partners or founders will be responsible for company’s obligations and his personal assets will be used to cover required debts. • ...

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Why do they always choose Cyprus?

...hen starting business offshore. Cyprus has an exceptional treaty network, which allows companies use it in its advantage. It also includes Permanent Establishment rules and provisions that are attractive and beneficial for business. Talking about banking system, Cyprus jurisdiction also is on a high level. Offshorelicense Ltd specialists are ready to help you analyze banking facilities in Cypru...

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Starting an international business. To offshore or not to offshore?

...lance between your own profit and the others’. Also, having a foreign legal company can help you create financial privacy and protect your company fr om aggressive competitors. Which actions can you perform operating a foreign business? Opening bank accounts, creating more businesses, manufacturing goods, receiving income and having legal contact with government: and this is not the full list...

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Swiss regulator launches proceedings against ICO issuer

.... FINMA stated that **envion AG may have violated financial market law in relation to Initial Coin Offering** (ICO). Therefore, FINMA launched enforcement proceedings against envion AG. The proceedings focus in particular on possible breaches of banking law, as a result of the potentially unauthorized acceptance of public deposits in connection with the ICO. Investigations executed by FINM...

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The Offshorelicense website launch. What it brings to us?

...ut Offshorelicense, here is a brief introduction.* We work as international company which deals with various business tasks. For example, we can assist with starting and setting up business in offshore zones, deal with licensing matters and opening bank accounts. Offshorelicense is a trustworthy turnkey company which has worked already with more than 350 clients. Of course, our services are not l...

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The New Labuan Tax Regime: Towards the Advancement

...ve Framework. Adapting tax legislation to the **new rules** is supposed to start at the earlier convenience since the regime is aligned with these standards and is recognized as a respected **international tax practice**. The Malaysian Central bank and its leaders are very concerned about the future of Labuan. The plan for the nearest future is to fight harmful tax competition, adjust taxati...

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Bitcoin Mining Faces Rumors in China

...at, Sichuan still remains the province where are the most reasonable electricity prices. The Chinese government in the last couple of years supports a very negative attitude towards Bitcoin and other cryptocurrencies. However, mining is still not banned and, any unofficial statements that might claim it is an outlaw, do not have any legal power. At the same time, we have to remind that the **cr...

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How Brokers in China Feel After the Website Blocks

We have already informed you regarding the latest **Chinese website restrictions** that occurred due to lack of information towards the financial regulator. Soon after the government **banned Bitcoin and other cryptocurrency exchanges**, followed by the bans of other trade platforms. It affected all FX and trading platforms without ICP certificates. Trading community stated that the access to...

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Novelties for the Blockchain Business and ICOs in Gibraltar

...2017 and different countries already understood the importance of this innovation. Open sources on the Internet claim that during the 2017 different ICOs raised about 6 billion USD. We have already informed our readers that Chinese government had banned ICOs. Jurisdictions are not yet sure about how to regulate distributed ledger technology because not everyone had understood it correctly. This...

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Virtual Currencies’ Control in Singapore

...so have requirements for the counter-financing of terrorism and anti-money laundering policies. This puts financial regulators in the position where they should decide whether **digital currencies** are according to the legislation or they should be banned. An important statement was issued by the Deputy Prime Minister of **Singapore**. He claimed that in the matters of money-laundering and ter...

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How RootAnt Makes Brokerage in China Easier

...gal requirements and at the same time earn traders’ trust. Trading platform **RootAnt** is now one of the best services that allows international financial institutions localize in China. It is a combination of services for brokers, investors, banks and even a CRM. At the same time, product uses open API which is an important part of integration with the legal requirements. Lincoln Yin, C...

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Bermuda warns: virtual currency shall not pass

...thority’s opinion, investing in new technologies, including cryptocurrencies, poses a serious risk. One of the scariest phenomen in crypto world is **Initial Coin Offering** (ICO). It differs from the traditional capital-raising process used by banks and venture capitalists. Mostly, ICOs are used by startup companies to raise money for making first steps in business. The Authority assumes tha...

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Why Moving Your Business Offshore Sounds Reasonable

...in offshore jurisdictions for $700 USD only! Low company formation costs in overseas territories help them to attract 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 offsho...

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How to Relocate Your Business Overseas: Expert Recommendations

...�� Online brand presence and place on the market is significant for a smooth transition; • Your market niche is developed or your product is in high demand; • You are ready to move and know all pitfalls on the new location. [![loyal_bank_account_opening.png](https://www.offshorelicense.com/storage/app/uploads/public/5a9/ff5/c37/5a9ff5c375355636973257.png)](http://offshorelicense.c...

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Chinese financial services opening up to foreigners

The President of the People’s Republic of China and the People's bank of China announced their intentions to open up China’s financial markets to promote foreign competition. For now, foreign ownership is limited for banks and asset management companies. Within a few months **the foreign ownership cap will be removed**. These changes will open the market to foreign investors and banks, givin...

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Too old for trading

...otection in Japan and Europe are absolutely different. European brokers pay a lot of attention to the professional skills of their clients, the other aspects like age, gender remains untouched. While European Securities and Markets Authority (ESMA) banned certain products and imposed restriction on leverage, the **Japanese government has focused on the needs and profiles of investors**. One o...

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Spanish internal collaboration on blockchain project

Recently it was announced that **Spanish National Security Market Commission (CNMV)** and several financial institutions, including BNP Paribas, Commerzbank, banco Santander, Caixa bank, during the entire previous year have been collaborating on a **blockchain project called Fast Track Listing (FLT)**, which is based on distributed ledger technology. The main purpose of the collaboration is to...

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Bitcoin and cryptocurrency litigation

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Pakistan is planning to regulate crypto business

...ettled on the new Electronic Money Institutions (EMIs) regulations to follow recommendations of the Financial Action Task Force, in an attempt to regulate previously uncontrolled sector and to combat illicit uses of modern technologies. The State bank of Pakistan in its statement pointed out that the regulations were developed with an intention to support innovation among payment service firms,...

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Chinese court: bitcoin is a property with "economic value" and must be protected by law

...and is able to provide economic values and benefits.”* As a confirmation of its position the court disregarded all points put forth by the defendant, stating the return of cryptocurrencies is a contractual obligation not governed by the central bank’s dictum. Notable, the court accented that no Chinese legislation restricts ownership of bitcoin or other cryptocurrency and linked transaction...

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Russia is considering to allow crypto trading

...cy, it would be possible to buy and sell cryptocurrencies, but impossible to use them for payments. After a political decision is made on this issue, we will have the responsibility."* Russian Ministry of Finance has recently met with the Central bank and the Federal Security Service in order to discuss the aforesaid bill. Amid the discussed possibilities, currently the priority is to allow the...

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Negative effects for Payment Service and E-money Institutions in case of no-deal Brexit

...diately lose direct access to EU central payments infrastructure, such as TARGET2 and the SEPA, including STEP2, meaning customers will face increased costs and slower processing for Euro transactions. This will have impact on all PSPs, which use UK banks for euro correspondent services, including non-bank PSPs, such as PIs and EMIs, which will have to open accounts with EU-based PSPs. Many Author...

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Outbreak of Crypto Frauds Amid Coronavirus Outbreak

...t claim to focus on coronavirus-related products and services, carefully research the investment and keep in mind that investment scam artists often exploit the latest crisis to line their own pockets,” the SEC wrote. Also, the European Central bank (ECB) sent a letter to significant institutions on the beginning of March to warn them to prepare contingency plans against these threats. Amo...

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Will 2020 bring the volatility back to the Forex market?

... that was declared a pandemic combined with the ongoing oil war between Russia and Saudi Arabia. **This Thursday US stocks saw their worst day since 1987 after falling almost 10 percent.** That was the market’s response to the US president’s ban on travelling from European countries and growing anxiety over the pandemic. **Black Monday and Thursday brought back volatility into the fore...

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Hong Kong introduced new rules for Virtual Asset Fund Managers

...er whether the institution is capable of dealing with crypto assets when choosing a custodian. Besides, fiat currency must also be kept separate. Where a virtual asset fund manager receives the fiat currency on behalf of the client, a segregated bank account must be established at one of the licensed Hong Kong’s financial institutions. The document also emphasizes the importance of suffi...

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Norwegian airline’s customers may be able to purchase flight tickets with bitcoin

...terly result with a pre-tax profit of about $215 million USD. The airline will collaborate with Norwegian Block Exchange (NBX) – a Norwegian crypto exchange and payment platform launched in 2019. The crypto exchange was supported by the oldest bank in Norway that has invested more than half a million US dollars in exchange for 16.3 percent of its ownership. The platform desires to bring ...

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Crypto aspirations: North Korea is holding cryptocurrency conferences

...f the Spanish Korean Friendship Association that organizes the event and one of the key figures of the conference stated that North Korea is seeking to develop a “token based on something with physical value” and which would be designed for DPRK banks, companies and organizations. One of April’s conference attendees revealed that the **Government is interested in using Bitcoin as a subst...

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SWIFT facilitates instant cross-border payments

...stings, the new service has shown the results that are more than satisfying. The best result was achieved by Singapore’s Fast And Secure Transfers (FAST) – the fastest payment was delivered in 13 seconds. Participants of this trial, including 17 banks located in seven different countries, were able to settle payments between all continents within 25 seconds. The New Payments Platform in Austra...

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Compliance deadline of January 2020: Crypto exchanges implement FATF anti-money laundering standards

...and record keeping of the crypto exchanges customer’s identities and passing the identity information together with funds transferred from one crypto exchange to another as well as on request to appropriate authorities This is very similar to what banks are required to do. The idea behind it is to prevent money laundering and financial crimes the number of which is rapidly growing in crypto doma...

Path: Blog

FINMA provides guidelines on "stablecoin"

...additional requirement rule is embedded in the FMIA. As there are recognized standards in every separate financial domain, additional requirements would be based on the relevant standards and cover those relevant risks. For instance, risks in the banking domain will be covered with the bank-like regulatory requirements. In Switzerland, high international standards are greatly appreciated. T...

Path: Blog

FCA is planning to restrict crypto derivatives

...t the FCA, mentioned: *"As with our work on the wider CFD and binary options markets, we will act when we see poor products being sold to retail consumers. These are complex contracts built on top of complex assets."* A decision to discuss the ban of crypto derivatives was previously announced by the FCA last November. It became even more relevant due to a recent variation in the price of bi...

Path: Blog

Marshall islands introduces its own cryptocurrency

... president of the Marshall Islands stated: "SOV will be issued to the public through an initial coin offering, then it will act like regular money. Every individual using SOV must be identified by an approved verifier of their choice, such as a bank or an exchange." The Marshall Islands expects that citizens will use the SOV for different purposes from tax payments to buying groceries. ...

Path: Blog

UK FCA issued clarifications of cryptocurrency regulations

... currencies do not fall under the regulatory scope of the FCA, however, anti-money-laundering rules shall apply. The FCA stated that they have received ninety-two (92) responses in regards to the consultation paper from different firms, including banks, trade associations, and crypto exchanges. Most of them supported the proposals, as noted by the FCA. What is important, the guidance now imp...

Path: Blog

New financial crime combating plan was released in UK

...en authorities, forces of law and order, and the private sector. In order to reform the current Suspicious Activity Reporting regime, the aforesaid authorities will also receive a financial support of £6.5 million from Barclays, HSBC UK, Lloyds banking Group, Nationwide, RBS and Santander UK. The action plan was agreed by Chancellor of the Exchequer Philip Hammond, Home Secretary Sajid Ja...

Path: Blog

What is the reason behind the suspension of ePayments operations?

...the FCA. The announcement gave rise to speculations about the actual reason behind the freeze. One assumption is that because the electronic money institution remains one of the largest processors for “high-risk” industries which traditional banks tend to avoid. Many industry participants view that ePayments’ connection to a crypto exchange called Digital Securities Exchange (DSX) co...

Path: Blog

OTC derivatives regime to be updated in Hong Kong

... type of OTC derivative transactions should be introduced to the Hong Kong Trade Repository. "OTC derivatives transactions" will be definite widely, therefore securities, futures, structured products authorized for public offering and certain retail banking products will be excluded. According to the latest guideline, every transaction should be assigned with a unique identifier that would enable ...

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Russia is planning to create asset-backed cryptocurrency

Russia is still actively considering the question of whether cryptocurrency should be regulated at the government level. The head of nation's central bank said that the country is planning to create a gold-backed cryptocurrency in order to arrange the possibility of international settlements. As reported by the head of the Central bank of the Russia, Elvira Nabiullina, the bank acknowledges ad...

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Marshall Islands Announces Fund Development For Its Local Cryptocurrency

...anization. The Fund’s task is to support the authorities in the establishment, maintenance and enforcement of the SOV, the Marshall Islands’ digital cryptocurrency. Dr. Peter Dittus, chief economist for SOV and former secretary general of the bank for International Settlements announced the following statement: *"The SOV Development Fund’s mandate is to maintain the SOV infrastructure...

Path: Blog

Attempts to Unify Cryptocurrency Regulation and Introduction of the Travel Rule

It has been almost a year since the Financial Action Task Force (FATF) released its controversial crypto directives, which merged the cryptocurrency industry into existing banking policy, requiring firms to comply with the same requirements as traditional financial institutions. FATF stated that it would give 12 months to adopt the guidelines. FATF’s guidelines will: - increase transpare...

Path: Blog

South Africa’s Introduction to Crypto Regulation

...e country’s residents owning crypto, which is one of the highest of any country at the moment. South Africa’s cryptocurrency market has reached a point where it can no longer be ignored. At the end of the last year the South African Reserve bank (SARB) reported that they are going to impose new regulations for the use of digital currencies in a bid to deter crypto users from evading curre...

Path: Blog

Impact of New Legal Framework on Estonian Crypto Market

Since the establishment of fintech as an independent banking field, crypto exchanges have tried to find the right license that will enable them to conduct business with a possibly lowest limit of regulation, at the same time still trying to comply with local framework. Estonia is one of the most advanced digital nations and also the first country, which has implemented e-residency for global ...

Path: Blog

Turbo Certificates vs. CFDs

...e position is closed or the transaction is completed. Although the Turbo Contracts are outside the scope of EU leverage restrictions yet, regulators have started to draw attention to them. It worth noting that certificates are a core offering of banks and this product was established long ago. However, there is a growing tendency among brokers that are starting to involve into the certificates...

Path: Blog

“Sand Dollar” pilot testing in the Bahamas

**The Central bank of the Bahamas launched a pilot testing of a Central bank Digital Currency (CBDC)** that was introduced on 27 December 2019. A so-called “Sand Dollar” is starting a pilot phase in Exuma, one of the districts of the Bahamas, and will extend to the Abaco Islands in the first half of 2020. The testing will allow collecting the data on the performance of the digital currency. ...

Path: Blog

The UN warns on North Korean Crypto Conference

...o Conference and openly stated that attending the conference will likely constitute a sanctions violation. The UN sanctions have been imposed on North Korea back in 2006 after its first nuclear test. Financial assets including cryptocurrency and banking transactions are also covered by sanctions. Moreover, last year the UN panel reported that North Korea is involved in sophisticated cyberattac...

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CySEC Enhancement of Procedures Regarding Safeguarding of Client Funds

...at will further enhance the procedures that CIFs are following for the safeguarding of their client funds. The regulator indicates when the CIFs receive funds from clients, they must quickly place these funds in one or more accounts either a central bank, credit institution or bank authorised in a third country or a qualifying money market fund. If CIFs excludes from complying with this requir...

Path: Blog

Russia adopting three-tier cryptocurrency regulation

...titutions really upset. Being a conservative country with solid roots in a traditional economy, Russia nevertheless has chosen the progressive path by adopting crypto legislation instead of prohibiting digital currency. Although even the Central bank of Russia perceives cryptocurrency as a threat to Russia’s monetary system, many financial institutions and politicians, including Vladimir Put...

Path: Blog

Saudi Arabia issued its first license for Forex trading

...lier this month, the company has managed to raise 10 times the bids it sought in a major bond sale. That fact can change the country’s plans for a public listing. Saudi Arabia had also headlined the cryptocurrency space. The country’s central bank has been working jointly with the UAE monetary authorities to develop a new token. Read our blog to keep abreast of all interesting and actual...

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The evolution of Forex in the 21st century

...apid development has been accounted for the 20th century, the figure of more than 5 trillion USD seemed inconceivable. Why such figure has been reached? The answer is – FinTech. Financial technology transformed the FX market by bringing online banking, the Single European Act, the UK’s Big bang Movement, and, person-to-person Forex trading. Owing to FinTech, Forex market became available n...

Path: Blog

The BRICS countries discuss the launch of the new cryptocurrency and unified payment system

... will not be used as a full-fledged settlement tool or digital form of money, but rather as a tool for fixation of obligations and trade facilitation. The reason for this is that transactions in cryptocurrencies are much slower than conventional banking transactions, so it makes sense to transfer payments between the BRICS countries in cryptocurrency only in order to protect transactions from ...

Path: Blog

China to become the first country to issue state-owned cryptocurrency

**China is about to become the first world’s country to issue domestic cryptocurrency.** The government plans to provide the digitized currency to commercial banks and other institutions, then those will transmit to the public. The President of China Xi Jinping has expressed his support for the blockchain technology and development of the first state-owned cryptocurrency. He revealed that th...

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Economic Substance Regulations in UAE

...to demonstrate that the company achieves economic substance interest. **Scope** The provisions of the regulations apply to entities carrying out any “relevant activity” in the United Arab Emirates. “Relevant activities” include: • banking Business • Insurance Business • Investment Fund Management Business • Lease-Finance Business • Headquarters Business �...

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New Zealand Asset Management License

...al Service Provider’s License, please provide the following documents: For each beneficial owner, shareholder, director, authorized signatory and secretary: Notarized passport copy Notarized proof of residential address (utility bill or bank statement) bank reference letter Lawyer/CA reference letter CV For directors and shareholders: Educational qualification certifi...

Path: Licensing

Czech Republic Electronic Money License

...entity must obtain an Electronic Money License. An authorized EMI exchanges virtual electronic money (issued by EMI) for the funds of customers in form of cash. For the purpose of obtaining Electronic Money license, a company is obliged to have a bank account for capital deposit and operational needs in Czech National bank. CNB acts as a supervisor of payment institutions and electronic mone...

Path: Licensing

El Salvador Online Gambling Company Formation

...aining the income tax contribution number (NIT) and the value added tax contribution number (IVA) Registration at the City Hall Registration at the General Office of Statistics and Census Registration at the Registry of Commerce Opening of a bank account In order to obtain El Salvador Online Gambling permit, please provide the following documents: Notarized copy of valid passpo...

Path: Licensing

Fiji Foreign Exchange Dealer License

....Timeframe: approximately 3 months Minimum paid up capital:: $50,000 USD Overview Legality and Licensing: Forex trading in Fiji is legal. However, individuals and companies must obtain a Foreign Exchange Dealer License from the Reserve bank of Fiji (RBF). This license ensures compliance with Fiji’s regulatory framework and helps maintain financial stability within the country. ...

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Cayman Islands Securities Investment Business License

...f the clients Underwrite financial instruments Securities management Among other benefits, the applicant will be able to enjoy the following advantages: Cayman Islands are one of the major financial hubs No local presence required bank account can be held in any bank (not necessarily in local bank) No local income, corporation, capital gains, profits or withholding taxes for C...

Path: Licensing

Labuan Crypto License

...y structure At least 1 shareholders (can also be a legal person, no nationality or residency restrictions*); At least two directors (can only be natural person, no nationality or residency restrictions*). *Restrictions may be imposed by bank instead. Taxation 3% of audited profits or fixed price per year MYR 20 000 (based on company’s preference can be chosen on or the othe...

Path: Licensing

Bulgaria Portfolio Management License

... necessary application forms and also acquire apostilled corporate documents. For that reason, please provide us with the following documents. Notarized passport Notarized 2nd ID Certified Utility Bill Notarized Criminal Record bank reference Letter 2 Character Reference Letters issued by professionals Certified Diplomas of Higher Education Detailed CV dated and signed ...

Path: Licensing

Hong Kong Type 9 (Asset Management) License

...ple's Government or the Government of the HKSAR or any department of either government such as Department, Government, Commission, Bureau, Federation, Council, Authority Names Requiring Consent or a Licence: Asset management, Assurance, Authority, bank, Building Society, Bureau Federation, Chamber of Commerce, Chartered, Commission, Co-operative, Council, Department, Fund Management, Government,...

Path: Licensing

Limited Liability Company in Latvia

...or similar that of an existing company. Incorporation Collection of necessary information for company registration Preparing foundation documents for company registration Signing of foundation documents, also at notary Opening temporary bank account, where to deposit share capital Payment of state fees for company formation and for publication official newspaper Foundation documen...

Path: Companies

Hong Kong Type 3 (Leveraged Foreign Exchange Trading) License

...r to obtain a license, the following steps will be carried out: Assistance with registration of Responsible Officers (obtaining personal licenses) Application for reservation of company name Incorporation of a Hong Kong company Opening a bank account Preparation/compiling of the application to Type 3 license Submission of the licensing application to the SFC (including the applicat...

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Bahamas Dealing in Securities License

... Local office - Required Physical presence Required (at least 4 employees*: CEO, Compliance officer, Money Laundering Reporting Officer* and Trading Representative) Company name Language: English Names having Assurance, bank, Building Society, Chamber of Commerce, Chartered, Cooperative, Imperial, Insurance, Municipal, Royal, Trust or a word conveying a similar meanin...

Path: Licensing

St.Lucia Company Formation

...ss. Comprehensive Support for Seamless Integration Offshorelicense goes beyond mere company formation. We offer a suite of essential services tailored to ensure your business's smooth integration into the global market: Global banking and Financial Opportunities: Unlock access to prestigious global banking networks, enhancing your company's financial mobility and investment ...

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Worldwide Patent registration

...plicant is not the inventor), POA; Certified priority document. Please note that if you require a company formation, the following documents must be provided: Notarized copy of valid passport; Notarized proof of address (utility bill, bank statement, etc.); Recommendation letters; Curriculum Vitae; bank Reference. The list of documents for company may vary according to ju...

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Local Design registration

...In certain regions it may be possible to register an industrial design in the region concerned by filing a single application to the respective regional IP Offices. If you are a national or resident of a country, which is a member of: bangui Agreement, host institution: African Intellectual Property Organization (OAPI), Lusaka Agreement, host institution: African Regional I...

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Local Patent registration

...For a list of potential options, please contact our team members. If you are a national or resident of a country, which is a member of: ARIPO HARARE Protocol, host institution: African Regional Industrial Property Organization (ARIPO), OAPI bangui Agreement, host institution: African Intellectual Property Organization (OAPI), Eurasian Patent Convention, host institution: Eurasian Paten...

Path: Licensing

Worldwide Design registration

... of the proprietor (if the applicant is not the proprietor), POA. Please note that if you require a company formation, the following documents must be provided: Notarized copy of valid passport; Notarized proof of address (utility bill, bank statement, etc.); Recommendation letters; Curriculum Vitae; bank Reference. The list of documents for company may vary according to ju...

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Local Trademark registration

... A list of goods/services for which the mark is to be protected. Please note that if you require a company formation, the following documents must be provided: Notarized copy of valid passport; Notarized proof of address (utility bill, bank statement, etc.); Recommendation letters; Curriculum Vitae; bank Reference. The list of documents for company may vary according to ju...

Path: Licensing

Labuan Money Broking License

.... There are three options for launching money brokerage business in Labuan: have an established Labuan company in Labuan (with knowledge and experience in money brokering business) obtain domestic money broker license by confirmation of bank Negera Malaysia (The Central bank of Malaysia) operate as licensed institution in accordance with banking Financial Institutions Act ...

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Kazakhstan Crypto License

...ies, actively accepting applications for crypto licenses. As of April 1, 2023, the Law on Digital Assets in Kazakhstan regulates the issuance and circulation of digital assets, providing a legal framework for these activities. Despite the general ban on unsecured digital assets, the Astana International Financial Center (AIFC) allows their issuance and circulation under the “Operating a Digit...

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Cyprus Crypto License

... be challenging, it offers significant benefits. CySEC provides a clear regulatory framework and has extensive experience overseeing crypto companies. Cyprus features a robust ecosystem with crypto communities, traders, financiers, and accessible banking for licensed companies, complemented by favorable taxation. General information Company structure A minimum...

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Slovakia Crypto License

...frame: 1 - 2 months Minimum paid up capital: No specific minimum share capital is mandated for obtaining a crypto license in Slovakia. Overview In Slovakia, crypto-asset services are not directly regulated by the National bank of Slovakia (NBS). Therefore, no NBS approval is required for crypto activities. However, strict rules apply under Act No. 279/2020 Coll., amendi...

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Bulgaria Crypto License

...Register. Compliance with AML/CTF Regulations: Ensure compliance with anti-money laundering (AML) and counter-terrorist financing (CTF) requirements. Tax Registration: Register for tax purposes and obtain a VAT number, if applicable. Opening a bank Account: Open a corporate bank account in Bulgaria. Business Operations Setup: Set up necessary business operations, including hiring staff and...

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Cryptocurrency Exchange License in El Salvador

...ador Cryptocurrency Exchange License is authorized to: trade or exchange digital assets for clients hold or manage digital assets on behalf of others Main benefits 0% tax regime Wide range of crypto-friendly local banks Low Amount of Share Capital No Requirement for Local Employees or Management

Path: Licensing

Labuan Fund Management License

...or S.A. If the Malaysian word “Berhad” is used, then “L” to denote that the company is incorporated in Labuan must precede it. Corporate names cannot include the following words without additional government permits or licenses: bank, Building Society, Insurance, Assurance, Reinsurance, Chamber of Commerce, University, Municipal or their foreign language equivalents. In order...

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Comoros International Brokerage and Clearing House License

... carried out: • Collection and review of documents in accordance with the legislation requirements • Incorporation of the company • License application with the Regulator • Copy and ID • Proof of address • bank or Lawyer Reference Letter • Updated CV • Proof of Funds (To be signed in the application form) If Holding Company (i.e. wh...

Path: Licensing

Seychelles Securities Dealer License

...e of clients or value of client’s investment). Main benefits Exemption from stamp duties, registration duties or other such fees Royalties paid to non-residents are exempted from taxes High confidentiality, no public records bank account in Seychelles Not blacklisted Low capital requirement. Only 50 000 USD Company structure Minimum 2 shareholders (no nationalit...

Path: Licensing

Bermuda Digital Asset license

...uding: Most recent audited financial statements; Copies of any regulatory filings; and Background information. - Individual shareholders/owners, including: Personal declaration forms; bank references of ultimate beneficial owners; and Net worth statements (for individual owners). A copy of the applicant's propo...

Path: Licensing

Switzerland Crypto License

...almost all activities in the field of cryptobusiness fall under one of the following licenses (depending on the business model, one activity may fall under several licenses at the same time): Financial intermediary license (the most common); banking license; Investment fund license; Dealer in securities license. As for the ICO itself, FINMA regulates this activity, dividing produc...

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Gibraltar Gambling License

...ation on the brand’s founders (full name, place of residence, e-mail address) Scans of all pages of passports of directors, employees and shareholders Documents that confirm the existence of the company's settlement account Certificates from banks, certified by a notary, on the account activity and availability Characteristics of the gambling software and all related programs, as well as...

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Cyprus Investment Fund License

...ed Accounting and Audit requirements Preparation of annual Financial Statements, and preparation of annual tax return Un-audited report every six months and audited annual report Monthly or Quarterly Statistical reporting to the Central bank of Cyprus Annual Information Reporting to CySec Annual report submitted to CySec regarding prevention of money laundering and terrorist finan...

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Luxembourg Investment Fund License

... are misleading or deceptive are prohibited Offensive names are prohibited In order to obtain a license, the following steps will be carried out: Gathering necessary documents in agreed form Preparing Application for Regulatory Approval bank account opening Following up and monitoring your submission until Regulator approval and publication on the Commission de Surveillance du Secte...

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Cayman Islands Securities Investment Fund License

...zes that most service providers engaged in the industry are already regulated or controlled in their home jurisdiction. Benefits Cayman Islands are one of the major financial hubs No local presence required bank account can be held in any bank (not necessarily in local bank) No local income, corporation, capital gains, profits or withholding ta...

Path: Licensing

Japan Virtual Currency Exchange Provider’s License

...a license, the following steps will be carried out: Application for reservation of company name Preparation and submission of the application and incorporation documents to the Registry Incorporation of the company Filing the report with bank of Japan under the Foreign Exchange Act of Japan Filing the notifications with tax authorities Opening of a bank Account Registration with ...

Path: Licensing

Bahamas Payment Services Provider License

...um paid up capital: $100 000 USD Overview Bahamas PSPs may engage in various activities including: the execution of payment transactions, issuing and/or acquiring of payment instruments as well as money remittance. The Central bank of The Bahamas (“the Central bank”) is responsible for the licensing of entities providing payment services under the Payment Systems Act, 20...

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Switzerland Portfolio Management (ARIF Registration)

...ivities subject to the Swiss Anti-Money Laundering Act must supply a personal file. Benefits Respectful jurisdiction Financial stability Low tax rates which is based on a clear-cantonal tax system Friendly business environment banking advantage Limited liability of a company Possibility to give shares No additional exams or test must be passed for appointed persons Ge...

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Bulgaria Forex License

...require an English translation if a foreign language is used to ensure that the proposed name is not a restricted name. A name cannot be identical or similar to that of an existing company. The following words or their derivatives may not be used: bank, chartered, establishment, foundation, insurance, partnership or trust. N.B. Restricted connections for company name: name of state, n...

Path: Licensing

South Africa Forex License

...license with FSB. The application for Category II license includes excessive amount of paperwork, continuous liaising with FSB and local presence of an applicant in South Africa in order to pass regulatory exams and attend verification at a local bank. The proposed activity of a company-applicant, identity and background of all appointed individuals/entities will be closely investigated by the ...

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Estonia Private Limited Liability Company (Osaühing or OÜ) Formation

...y Not Required Company name Language: Any Letters: Roman alphabet Must be distinguishable from other already registered business names and trademarks Cannot contain such words as Assurance, Insurance, bank, University, etc. without obtaining a respective license Name denoting any connection to local, state or national government are ge...

Path: Companies

Scotland Limited Partnership Formation

.... Secretary Not Required Registered Agent Not Required Registered office Required Company name Language: Any Letters: From Roman alphabet Company name must end with: Limited Partnership or L.P. Restricted Words: bank, Trustee Company, Assurance, Building Society, Trust Company, Royal etc. Names Requiring Consent or a Licence: Fund management, insurance,...

Path: Companies

Gibraltar Limited Liability Company Formation

...ial Owner, Authorized Signatory) A copy of proof of residential address (ex. utility bill of each Shareholder, Director, Beneficial Owner, Authorized Signatory that is not older than 3 months) in English Optional: A notarized copy of bank reference (of each Shareholder, Director, Beneficial Owner, Authorized Signatory) Optional: CV (of each Director and Shareholder) N.B. ...

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United Kingdom Limited Company Formation

...t Not Required Registered office Required Company name Language: Any Letters: From Roman alphabet Company name must end with: Limited or Ltd Restricted Names: Empire, Crown, Imperial, Windsor, Royal, Assurance, bank, Building Society British, National, Great Britain, United Kingdom, England, English, Scotland, Scottish, Wales, Welsh, Ireland or Irish – (if ...

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United Kingdom Limited Liability Partnership Formation

...equired Registered office Required Company name Language: Any Letters: From Roman alphabet Company name must end with: Limited Liability or LLP Restricted Names: Empire, Crown, Imperial, Windsor, Royal, Assurance, bank, Building Society British, National, Great Britain, United Kingdom, England, English, Scotland, Scottish, Wales, Welsh, Ireland or Irish – (if ...

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Netherlands Limited Liability Company (LLC) Formation

... Registered Agent Not Required Registered office Required Company name Language: Any Letters: From Roman alphabet Company name must end with: Besloten Venootschaap or BV Names Requiring Consent or a Licence: bank, building society, savings, loans, insurance, assurance, reinsurance, fund management, investment fund, trust, trustees, Chamber of Commerce, co-...

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Switzerland Limited Liability Company Formation

...nstein. Switzerland is highly competitive and owes its prosperity to the industrial sector with its top-level technology, the chemical-pharmaceutical industry as well as to the service sector, which is characterised by a highly developed banking and insurance sector. Switzerland is often regarded as an offshore company location along with many other offshore jurisdictions. However, unl...

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Isle of Man Limited Liability Company Formation

...t the geographical center of the British Isles. The Isle of Man legal system is based on the English common-law model. It is a full member of the European Union but it does have associate status which is very attractive. The Isle of Man has strong banking, investment fund and captive insurance sectors, with a well-developed advisory and financial infrastructure and good transport links. Foreign ...

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Cyprus Limited Liability Company Formation

...d by the Companies registry. Double taxation agreements concluded with: Austria, Armenia, Bulgaria, Belarus, Belgium, Canada, China, the Czech Republic, Denmark, Egypt, France, Germany, Greece, Hungary, India, Ireland, Italy, Kuwait, Kyrgyzstan, Lebanon, Malta, Mauritius, Moldova, Montenegro, Norway, Qatar, Poland, Romania, Russia, Singapore, Slovenia, South Africa, Sweden, Syria, San Marino, Se...

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RAK ICC or Ajman Offshore Company Incorporation

...nationality restrictions) Minimum 1 shareholder (no nationality restrictions) Capital No minimum capital is required Taxation 0 corporate income tax Other benefits 100% ownership Can be formed by one individual bank account in Dubai No public records Easy to liquidated anytime Can do multiple activities bank account opening: Clients are requi...

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Ireland Private Limited Company Formation

... image; EU and Eurozone member; Low corporate taxes with a universal rate of 12.5%; Extensive network of double taxation treaties; Ideal for international Joint Ventures where participants are willing to incorporate in a neutral state; Low banking fees and wide range of services including merchant accounts available. Reporting Filing Accounts and Annual Return is obligatory; ...

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USA Delaware Limited Liability Company Formation

...e's fastest growth sector in recent years has been in the financial sector and in particular incorporation and formation of international companies as a Delaware LLC or Delaware Corporation. Many American & International Companies as wells as banks, financial institutions and world-wide corporation have made Delaware their registered jurisdiction. The enactment of the law to establish a Lim...

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Saint Kitts and Nevis Limited Liability Company (LLC) Formation

...ired Company name Language: May be in any language that uses the Latin alphabet* Company name must end with such sufixes or their abbreviations: Limited Liability Company, LLC, L.L.C., LC, L.C. Names Requiring Consent or a Licence: bank, Insurance, Assurance, Re-Insurance, Savings, Fund Management, Investment Fund, Building Society, Municipal, Loans, Chamber of Commerce, Universi...

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Malta Private Limited Company Formation

...m tax return) Secretary Required Registered office Required Accounting Required Audit Required Annual return Required Tax return Optional Company name Cannot contain such words as bank, University, Society, co-op, etc. without being approved by relevant bodies Name has to b...

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Cayman Islands Company Formation

...equirement for corporations to submit financial records when filing annual returns. Secretary Required Registered Agent Required Registered office Required Company name Language: English Words such as “Assurance”, “bank”, “Building Society”, “Royal”, “Trust Company”, “Trustee Company” etc. will require justification The words “Limited�...

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Limited Liability GmbH in Germany

...Any name that is identical to or similar to an existing company is restricted. Incorporation Check with the Chamber of Industry and Commerce that the company is unique Draft the company agreement Notarization of all founding documents for banks, the internal revenue office, etc. Open a bank account for the business, remit the stock capital Register the GmbH with the municipal trade ...

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Poland Limited Liability Company Formation

... Taxation Corporate tax rate - 19% Dividends tax - 19% Other benefits 100% foreign ownership: foreigners can own 100% of the shares in a Polish LLC Low minimum share capital Stable EU country with low unemployment Superb banking services and reliable bank sector in SEPA zone Accounting requirements All accounting records must be written in Polish and use the Po...

Path: Companies

USA Nevada Limited Liability Company Formation

...tor, Beneficial Owner, Authorized Signatory) A copy of proof of residential address (ex. utility bill of each Shareholder, Director, Beneficial Owner, Authorized Signatory that is not older than 3 months) in English Optional: A notarized copy of bank reference (of each Shareholder, Director, Beneficial Owner, Authorized Signatory) Optional: CV (of each Director and Shareholder) N.B. ...

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Panama Offshore IBC Formation

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Authorised Company in Mauritius

... eligible for Tax Residence Certificate. Secretary Required Registered Agent Required Registered office Required Company name Language: Any Letters: from Latin alphabet Names Requiring Consent or a Licence: bank, buildings society, insurance, assurance, reinsurance, funds, trust, trustees, finance, savings, royal, asset management, foundation, municipal, ...

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Uruguay Limited Liability Company Formation

...ay legal entity name. Names can be reserved before registration. Incorporation Collection of necessary information for company registration Preparing foundation documents for company registration Notarization of all founding documents for banks, the internal revenue office, etc. Payment of state fees for company formation Request a tax identification number from the tax office/autho...

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Quebec Company Formation

...and provides access to the North American market. Incorporation limits the liability of a corporation's shareholders. This means that, as a general rule, the shareholders of a corporation are not responsible for its debts. If the corporation goes bankrupt, a shareholder will not lose more than his or her investment (unless the shareholder has provided personal guarantees for the corporation's d...

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Labuan International Business Company Formation

...g planned in 2006. An Offshore Company (or an Offshore Foreign Company) is only permitted to carry on business in, from or through Labuan. An Offshore Company may not: carry on business with a resident of Malaysia except as permitted by the Offshore banking Act 1990; carry on the business of banking or Insurance or such similar business unless it is licensed so to do under the Offshore banking Act...

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British Virgin Islands Forex License

...al services are regulated by British Virgin Islands Financial Service Commission (BVI FSC). The key responsibilities of BVI FSC is to regulate, supervise and inspect all financial services in and from within the BVI. Such services include insurance, banking, trustee business, company management, mutual funds business as well as the registration of companies, limited partnerships, intellectual prop...

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Cyprus Forex License

...he remaining government fees.In order to obtain license, Offshorelicense will fill all necessary application forms and also acquire apostilled corporate documents. For that reason, please provide us with the following documents. For bank: (Each beneficial owner, shareholder, director, authorised signatory and secretary must provide) A notarized copy of valid passport A ...

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Belize Money Transmission License

..., PayPal, Barclays and MoneyCorp. In order to gain such license IBC has to be formed properly and to carry out any money transmission activities. Usually, in order to operate properly it is necessary to have: Company and registered office bank account Website Registered appropriate share capital License Sufficient knowledge, qualifications and experience One director in the st...

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Alderney Gambling License

...ity Beneficial owners' details – Not part of public record Shareholders' details – Not part of public record Directors' details –Not part of public record Taxation 0% - corporation tax with a few exceptions: - specified banking activities - 10% - profits derived from activities that are regulated by the Office of Utility Regulation - 20% - income derived from Gu...

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Costa Rica Gambling License

...esloten Vennootschap, Gesellschaft mit beschrankter Haftung. An International Company may utilise a broad range of internationally accepted abbreviated words as suffixes to denote their limited liability. Names Requiring Consent or a Licence: bank, buildings society, insurance, assurance, reinsurance, fund management, investment fund, trust, trustees, finance N.B. Restricted conn...

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Belize Forex License

...entral America and it borders with Mexico, and Guatemala. In terms of time, Belize Forex License can be obtained comparatively quick. Moreover, Belize enjoys good reputation in the sphere of financial services and is widely known to international banks and payment providers. Belize has even implemented licensing legislation that is particularly focused on forex trading companies. Provision o...

Path: Licensing

New Zealand Forex License

...lease provide us with the following documents. For each beneficial owner, shareholder, director, authorized signatory and secretary: A notarized copy of valid passport Notarized proof of residential address (utility bill or bank statement) bank reference letter CV Lawyer/CA reference letter For directors and shareholders: Edu...

Path: Licensing

Vanuatu Dealer's in Securities License

...Besloten Vennootschap, Gesellschaft mit beschrankter Haftung. An International Company may utilise a broad range of internationally accepted abbreviated words as suffixes to denote their limited liability Names Requiring Consent or a Licence: bank, buildings society, insurance, assurance, reinsurance, fund management, investment fund, trust, trustees, finance N.B. Restricted conn...

Path: Licensing

Cook Islands Money Changing-Remittance License

... the license application. Company Name Language: Any Letters: From Roman alphabet Company name must end with such suffix or it’s abbreviation: Limited Names Requiring Consent or a Licence: Asset Management, Asset Manager, Assurance, bank, banking, Broker (s) / Brokerage, Capital, Credit, Currency (ies), Custodian(s), Custody, Dealer(s), Dealing, Deposit(s), Derivative (s), Exchang...

Path: Licensing

Curacao Gambling License

... staff to process the license Registering a company Preparation of all necessary documents for Sending all documents for signature of the client and for them to be notarized and legalized in country wh ere client is residing Opening offshore bank account Drafting of Business Plan for the Company Account opening in a European bank for operational purposes In order to obtain license, Of...

Path: Licensing

Limited Liability Company in Lithuania

...me of the private limited liability company must include the words “uždaroji akcinė bendrovė” (private limited liability company) defining its legal form or the acronym “UAB" Incorporation Preparation of the incorporation documents bank account opening Filing the documents with the Trade Register Tax and VAT registration Employment and social security registration Please p...

Path: Companies

Hong Kong Limited Company Formation

... for transacting business in Asia is world-renowned. Hong Kong is the leading Asian centre for both finance and commerce and ranks as the world's third largest financial centre after New York and London. There are over 135 licensed banks with over 120 foreign banks having representative offices in Hong Kong and a further 39 licensed deposit taking Finance Companies, all of which ...

Path: Companies

Singapore Private Company Formation

...gistered office Required Company name Language: Any Letters: From Roman alphabet Company name must end with such words: Private Limited, Limited or such suffixes Pte. Ltd or Ltd. Names Requiring Consent or a Licence: bank, Financial institution, insurance, fund management, university, Chamber of Commerce and other similar names N.B. Restricted connection...

Path: Companies

Czech Republic Limited Liability Company Formation (s.r.o)

...red Registered Agent Not Required Registered office Required Company name Language: Any Letters: From Roman alphabet Company name will end with suffixes or their abbreviations:r.o Names Requiring Consent or a Licence: bank, building society, savings, loans, insurance, assurance, reinsurance, fund management, investment fund, trust, trustees, Chamber of Commerce, uni...

Path: Companies

Vanuatu International Business Company Formation

Path: Companies

Marshall Islands International Business Company Formation

...pany, Corporation, Incorporated, Proprietary, Sociedad Anónima, Société Anonyme, Aktiengesellschaft, Aktiengesellschaft, Berhad, Besloten Vennootshcap, Naamloze Vennootschap , Société Anonyme à Responsabilité Limitée Restricted words: bank, trust, insurance, chartered, foundation, partnership, establishment N.B. Restricted connections for company name: name of state, nati...

Path: Companies

St. Vincent and the Grenadines LLC Company Formation

...red office Required Company name Language: Any Letters: From Roman alphabet Company name contain the words “Limited Liability Company” or the abbreviation “LLC” Names Requiring Consent or a Licence: bank, building society, savings, loans, insurance, assurance, reinsurance, fund management, investment fund, trust, trustees, royal, asset management,...

Path: Companies

Antigua and Barbuda International Business Company Formation

...ord Taxation There is a fifty year tax exemption for Antigua IBCs. This exemption applies to most forms of income, dividends, interest and royalties paid by and to foreigners. There is no exchange control and the unrestricted operation of bank accounts is permitted. An IBC benefits from the absence of capital gains and estate duties in Antigua. Other benefits The directors an...

Path: Companies

Belize International Business Company Formation

...bean coast of Central America. An International Business Company (IBC) is arguably one of the most effective corporations it is a tax-exempt vehicle, very popular among advanced entrepreneurs around the world. It can be used for offshore banking, investment activities, asset protection and the operation of many types of business. The IBC has full tax exemption in Belize and...

Path: Companies

British Virgin Islands International Business Company Formation

...tive ease, flexibility, taxation exempt status and the fact that they are widely accepted and understood by the international financial community. BVI BC's may not own real property in the BVI, other than the lease of an office, and may not carry on banking or trust business (unless licensed under the banks and Trust Companies Act, 1990) or insurance or re-insurance business (unless licensed in th...

Path: Companies

St.Lucia International Business Company Formation

... Overview Saint Lucia is an island jurisdiction in the Caribbean region off the South American shores and is one has one of the most prominent financial services centres in the world. It offers companies a host of offshore financial and banking services in a variety of sectors, the most popular of which is their International Business Company (IBC). A St. Lucian IBC is one of the worl...

Path: Companies

Seychelles International Business Company (IBC) Formation

...phabet Company name must end with such sufixes or their abbreviations: Limited, Corporation, Incorporated, Société Anonyme. A wide variety of other suffixes such as BV, GmbH, and SARL may also be used Names Requiring Consent or a Licence: bank, Insurance, Assurance, Re-Insurance, Trusts, Trustee, Savings, Royal, Asset Management, Funds, Foundation, Building Society, Municipal, Chartered...

Path: Companies

Hungary is on its way to become an offshore heaven

When discussion on centers of an offshore speculation countries arises, the Balkan country, definitely, is not the first one to come up. However, the relevant tax modifications implied by the Orbán-administration may change the situation dramatically, turning Hungary into the beneficial financial and economic environment for such schemes. That resulted in Hungary receiving criticism for helping ...

Path: Blog

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