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Isle of Man Gambling License
Although, Isle of Man is under British dependency, it is self-governing and not bound 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 sig...
Path: LicensingHow to set up a business on Bahamas?
...y known as the Commonwealth of the Bahamas, and has all the advantages of an offshore jurisdiction.* For example, tax climate for IBCs is close to perfect. International business is exempt of local taxes, including sales, dividends, corporation and capital gains tax. Also, international currency exchange rate and rules are very favorable for business. Bahamian government supports international cu...
Path: BlogControversy on 30% Crypto Tax in India
... that this will legitimacy to cryptocurrencies, many are concerned with the nuances of the new taxation rules. First of all, the announced crypto tax rate is higher than any other asset class in the country – securities are taxed at a long-term capital gains tax rate of as little as 10% and short-term capital gains at a rate of 15%. In fact, the Indian government is looking at crypto gains s...
Path: BlogBritish Virgin Islands Forex License
British Virgin Islands (BVI) often referred to as “offshore tax heaven” is one of the most popular forex jurisdictions due to absence of profit, corporation and capital gains tax.Incorporation & obtaining license: depending on the Regulator. In general, can take from 4 weeks to 4 months Minimum paid up capital: is set on case-by-case basis. Once the application is submitted t...
Path: LicensingWhy do they always choose Cyprus?
... is a possibility to use advantages of special Cyprus investment firm license. It allows founders or CEOs of companies to use all taxation advantages for their business. For example, except for corporate income tax of 12,5% you will be able to avoid capital gains taxes on the disposal of securities, use double tax treaties for your company and also reduce to 0% (zero) tax on payments to internatio...
Path: BlogComprehensive Guide to Opening an Offshore Company in Seychelles
... One of the main reasons businesses choose Seychelles for offshore company formation is the significant tax benefits. Seychelles offers a tax-neutral environment, meaning that International Business Companies (IBCs) are not subject to income tax, capital gains tax, or stamp duty on business transactions. This provides substantial cost savings for companies looking to maximize their profits. ...
Path: BlogEstablishing an Offshore Business: An Overview
...equirements: Import and Export: Offshore businesses can generate invoices and manage payments for worldwide trade, lowering tax liabilities and streamlining operations. Investment: Investors can take advantage of free money transfers and capital gains tax breaks in some countries. Holding corporations: Offshore holding corporations assist in managing subsidiaries on a global scale...
Path: BlogEl Salvador: Bitcoin will become legal tender, alongside the US dollar
...s. It will sell some of the received Bitcoins to replenish the trust fund. The bill, which was proposed by Bukele himself, touches many areas related to the use of cryptocurrencies. It recognizes Bitcoin as a legal tender, scraping all associated capital gains tax. In addition, the country will accept taxes in Bitcoin, and the US dollar will be the ‘reference currency’ when denominating pri...
Path: BlogSouth Korea to tax capital gains on crypto
...st of the countries keep on discussing the opportunities of crypto taxation, South Korea takes the initiative into own hands. **The Ministry of Economy and Finance of South Korea has decided to tax earning from crypto-related profits by imposing capital gains tax on virtual currencies.** According to government sources, it is expected that a draft bill will be drawn up by the finance ministry ...
Path: BlogHow cryptocurrency will be taxed in the UK?
...atus – it is not considered as a currency in the UK. Moreover, the guidelines use the term “cryptoassets” instead of cryptocurrency. In relation to individuals, the policy paper reveals that crypto activity (personal investment) subject to capital gains tax. capital gains tax should be paid when cryptoassets are sold for fiat or are used for goods and services purchasing, exchanging cryp...
Path: BlogHow to store your crypto with the less tax consequences
...sing on closely. Most jurisdictions have different regulations in a view of a place where cryptocurrency taxes are liable to be paid. As a rule, **cryptocurrency is handled as an asset acquired for capital gains**, this means that you have to pay capital gains tax – and hence, as it stated above, any profit shell be taxed as income. The results of not reporting cryptocurrency tax gains an...
Path: BlogIsraeli court determined bitcoin as an asset
An Israeli court has recently ruled that bitcoin is an asset and not legal currency. This is crucial a decision since it means profits earned selling cryptocurrency will now be liable to capital gains tax. Lod’s Central District Court rejected an appeal from a founder of a crypto startup who argued that profits from the sale of cryptocurrency should be exempted from taxes. The claimant state...
Path: BlogAttention! New guidelines for crypto holders were announced by the UK Tax Agency
... may be cases where the individual is running a business which is carrying on a financial trade in crypto assets and will therefore have taxable trading profits. This is likely to be unusual, but in such cases Income Tax would take priority over the capital gains tax rules. HMRC will publish separate information for businesses in due course.”* The coin-holders may combine different assets tog...
Path: BlogGibraltar Crypto License
...Directors' details – part of public record Taxation Gibraltar offers a favorable tax regime for businesses. Companies are subject to a flat corporate tax rate of 10% on profits derived from activities within Gibraltar. There is no capital gains tax, VAT, or inheritance tax Accounting requirements Filing annual report is obligatory Secretary - Requ...
Path: LicensingNew Zealand Crypto License
...' details – part of public record Directors' details – part of public record Taxation New Zealand has a standard corporate tax rate of 28%. Cryptocurrency gains are treated as ordinary income and taxed accordingly. There is no capital gains tax, but income from crypto transactions is taxable. Accounting requirements Filing annual report is obligatory ...
Path: LicensingAustralia Crypto License
... – disclosed to the Authorities Shareholders' details – part of public record Directors' details – part of public record Taxation In Australia, cryptocurrency is treated as property for tax purposes. This means that: capital gains tax (CGT): Applies to the disposal of cryptocurrency. Individuals and businesses must report gains or losses on their tax returns. Goo...
Path: LicensingBermuda Digital Asset license
...representative approved by the BMA who will have reporting obligations to the BMA and who maintains an office in Bermuda Taxation No corporate income tax, personal income tax, VAT, withholding tax on dividends / interest / royalties; No capital gains tax (both corporate and individual); No net wealth/worth tax. Accounting & audit requirements Licensees must: ...
Path: LicensingGibraltar Gambling License
...of their gross profit and the amount of tax is capped at a minimum of £85,000 and a maximum of £ 425,000 Registration for taxation purposes is not necessary for non-resident organizations. This means that estate tax, VAT, wealth tax, gift tax or capital gains tax is not applicable to them Other benefits The country guarantees complete confidentiality of financial activities and pers...
Path: LicensingBahamas Payment Services Provider License
...ty or residency restrictions)* Minimum 1 shareholder (can be natural or legal persons, no nationality or residency restrictions) Taxation No corporate tax No withholding tax (Dividends, Interests, Royalties etc.) Other taxes – 0% (capital gains tax, stamp duty on offshore instruments) Local office - Required Physical presence - Required (at least 3 local employees: ...
Path: LicensingUK Crypto License
...cial owners' details – disclosed to the Authorities Shareholders' details – part of public record Directors' details – part of public record Taxation Crypto businesses in the UK are subject to standard corporate tax rates. capital gains tax applies to the disposal of cryptocurrencies, and income tax is applicable if cryptocurrency is received as payment for goods or serv...
Path: LicensingDeltec Bank Account Opening
...ted, Deltec Fund Services Limited and Deltec Investment Advisers Limited, Deltec Securities Ltd. and Long Cay Captive Management. Advantages of bank account opening: A tax neutral platform – with no income, estate, inheritance or capital gains tax, and no restrictions on the repatriation of funds No forced heirship laws for domiciled assets Highest ranking nation for civil ...
Path: BanksSingapore Crypto License
... Shareholders' details – part of public record Directors' details – part of public record Taxation Singapore has a favorable tax regime for crypto businesses: Corporate Tax: The corporate tax rate is 17% on profits. No capital gains tax: Profits from crypto trading are generally not subject to capital gains tax. GST Exemption: Cryptocurrencies are exempt from Goods...
Path: LicensingHong Kong Type 9 (Asset Management) License
... Taxation Hong Kong tax on a territorial basis. Profits tax is levied at the rate of 16.5% for income derived from Hong Kong Profits derived from outside Hong Kong is tax exempt. There is no withholding tax on interest or dividends and no capital gains tax. A company, which carries on a business in Hong Kong, but derives profits from another place, is not required to pay tax in Hong Kon...
Path: LicensingSouth Africa Forex License
...y 2) Key Individuals A Compliance officer (we have a person to appoint) External auditor(s) TIimeframe The process may be very lengthy – approximately 1 (one) year Taxation Corporate income tax – 28% No withholding taxes capital gains tax - 18,6% Capital The FSP shall maintain current assets which are at least sufficient to meet current liabilities Accountin...
Path: LicensingDeltec Bank Account Opening
...ted, Deltec Fund Services Limited and Deltec Investment Advisers Limited, Deltec Securities Ltd. and Long Cay Captive Management. Advantages of bank account opening: A tax neutral platform – with no income, estate, inheritance or capital gains tax, and no restrictions on the repatriation of funds No forced heirship laws for domiciled assets Highest ranking nation for civil ...
Path: BanksMacau Offshore Commercial Company (OCC) Formation
...ency, natural persons or corporate entities may be appointed as directors) Taxation OCC is completely tax exempt on all profits as long as they do not use MOP currency, do not do business with local residents or other local companies No capital gains tax, sales tax, stamp duty, inheritance tax, or gift tax Other benefits Stable financial system Satisfactory trading enviro...
Path: CompaniesIsle of Man Limited Liability Company Formation
...ctive. 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 Investors are attracted by the taxation structure; there are no capital gains taxes, turnover tax or capital transfer tax, no stamp duties and low rates of income tax. Non-Resident Company is most popular offsho...
Path: CompaniesSt.Lucia International Business Company Formation
...record Directors' details –Not part of public record Taxation Lucia IBCs may elect to be exempted from income tax or to be liable to income tax on profits and gains at 1%. Also IBCs are not subject to stamp duties, withholding tax and capital gains tax. Other benefits The directors and the shareholders meetings need not be held in St.Lucia; also there is no requirement fo...
Path: CompaniesVanuatu International Business Company Formation
...ongst the most sought out locations such as the BVI, Bermuda, Cayman Islands and Jersey. An Offshore or International Company, is commonly set up in an offshore financial centre like Vanuatu, where there are no corporate or personal income taxes, capital gains taxes, reporting requirements, or restrictions on company employment policies. As tax laws differ from country to country it is importan...
Path: CompaniesNorway Crypto License
...to the Authorities Shareholders' details – part of public record Directors' details – part of public record Taxation Cryptocurrencies are treated as assets in Norway. Profits from cryptocurrency transactions are subject to a capital gains tax of 22%. Income from mining and staking is taxed as ordinary income. Accounting requirements Filing annual report i...
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