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...
Path: CompaniesMacau, also Macao is a commercial city with a very open economy, advantageous geographic location and complete infrastructure.Incorporation: up to 1 month Minimum authorized capital: MOP25,000 (around $2,500 USD) Overview There is no special restriction on Macau company incorporation, and Macau practices a low taxation rate system, with limited items of taxation. ...
Path: Companies...mportant player on the international stage. The challenge of China market entry has become an increasingly important one for Western companies of all shapes and sizes. Despite a complicated economic climate in Europe and the United States, China’s economy has continued to grow by double-digit rates over the last couple of years deepening curiosity towards offshore company incorporation, forex li...
Path: Blog...s global user count.” If Paraguay will stick to this idea, there are another 7 million potential users of Bitcoin. Whilst El Salvador, Paraguay, Tanzania and other developing countries fairly see Bitcoin as an opportunity to improve their economy, on the other side of the globe picture looks different – the government of China took steps to crack down on Bitcoin usage. In May, the...
Path: Blog...ultations on the matter. Such a move indicated the first step towards policing the South African virtual currency scene which has so far seen little in the way of crypto regulation. South Africa’s regulators argue that the growth of the digital economy depends on the establishment of a clear-cut crypto regulatory infrastructure that promotes innovation. Regulators fear that major blockchain f...
Path: BlogMarch, April, and May were major months for Bitcoin (BTC). After a big price dive on March 12th, Bitcoin slowly recovered to almost $10,000, where it was before the coronavirus world-wide pandemic crushed into the economy. A large portion of the increase came in the days preceding and following the Bitcoin halving last week. In the middle of the May the rewards that Bitcoin miners receive in ...
Path: Blog...banian parliament signed a new bill into law to implement a legal framework for cryptocurrencies, which is already described as “Europe’s most comprehensive crypto law yet.” New legal framework was first introduced to Albania's Committee of economy back in 2019 in an attempt to establish a legislation in crypto industry. Crypto regulation was approved last week with a majority of 88 votes...
Path: Blog... calling a progressive stance of the country’s leaders towards crypto. These 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 includin...
Path: Blog...isky for the stable system of **Chinese financial services**. What does this **ban** bring to the professional **brokerage services**? In China, there is a special profession as introducing brokers. They are a formal bridge between Chinese closed economy and international investors and entrepreneurs. This might become an only way to work with the Chinese financial market if the service bans wil...
Path: Blog...ndustry as a crucial part of its economic future, unlike language that has been largely absent from any of the US statements or guidelines on digital assets. MiCA puts emphasis on digital assets development in order to build sustainable future-ready economy for people. One of the main purposes for MiCA is to set EU as a global leader in the digital assets industry. EU financial sector aims to ensu...
Path: Blog... which prompted Bitcoin to a status of a legal tender. Currently Africa remains a prospect zone for cryptocurrency development – for example, countries like Nigeria, are undergoing mass cryptocurrency adoption process due to country’s failing economy. Recently, Nigerian central bank barred lenders fromworking with crypto-exchanges, which forced crypto users to conduct their business on peer...
Path: Blog...blockchain data platform Chainalysis. “We are of the view that cryptocurrencies are risky and we want to ensure that the financial sector is aware of those risks and pricing for those risks properly,” Naidoo said. Africa’s most developed economy is tightening the screws on the industry as digital currencies move from the periphery of the finance world to the mainstream and face deeper ...
Path: BlogMembers of FATF, main global anti-money laundering watchdog in a modern world, have voted to add Republic of Malta to its “grey list”, which could cause devastating effect to country’s economy. The Financial Action Task Force (FATF) plenary on Wednesday, June 23rd, afternoon came up with a decision and although no official announcement about their decision has been done yet, information ...
Path: Blog...y, Korea, and Iran appear to be spreading rapidly, with more than 60 countries having been directly affected and cases being reported in New York City and many other key cities around the world. The disease has also been seen affecting the world economy along with global health. **The traders are facing Coronavirus induced volatility in the market.** Many are stunned by the fear of the world e...
Path: Blog... secure for transactions. Shlomit Wegman, the Director of Israeli Regulator, trusts that the new rules will massively improve security of legal cryptocurrency users. “The application of the regulations constitutes real progress for the Israeli economy, the Fintech industry, and for improving financial competition to provide the public better services. The new regulations are designed to step...
Path: BlogPanama as second largest economy in Central America and is also the fastest growing economy in the region.Incorporation: within 3 weeks + delivery time for the courier Minimum capital requirement: A minimum of one share of US$100.00 must be issued to the shareholder Overview The Republic of Panama is a Central American country – one of the most popular Offshore ...
Path: CompaniesBulgaria has a strategic location, allowing investors to access the entire EU and the markets of central and Eastern Europe. Bulgaria has a predictable and stable economy and government, and boasts the lowest corporation tax in the EU at only 10%. In order to provide brokerage services it is required to become an Investment Intermediary regulated by the Financial Supervision Commission of Bulgari...
Path: LicensingAlthough, 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: LicensingThe location of Gibraltar and the important role of Tourism in its economy prompted the Government to look into gambling as a new source of revenue. Gibraltar has been one of the pioneers in relation to the licensing and regulation of online gambling services.Incorporation & obtaining license: within 6 months Minimum paid up capital: is set on case-by-case basis ...
Path: LicensingHong Kong is a free economy that is situated in the fastest growing nation in the world, People’s Republic of China. As an international commercial logistics and financial centre, Hong Kong also has one of the most favourable tax regimes in the world.Description All companies incorporated in Hong Kong are required to appoint qualified and independent auditors to perform annual statu...
Path: AccountingSo far economy in the world is totally unprepared for this Coronavirus crisis. The crisis brought on by the coronavirus has been a shock to the entirety of the global economy. Every industry in the world is fighting to find ways to adapt to the new way that was thrust into reality few weeks ago. One of the most affected sectors has been global financial markets. This has also been true in the...
Path: Blog...ously did not have or had a limited access to them. In addition to these gaps in Africa, the fact that the continent’s population is bend toward younger generations means that Africa is likely to play an increasingly powerful role in the global economy. Therefore, the introduction of regulation for the cryptocurrency industry in Nigeria could bolster a space that is already poised to boom. ...
Path: Blog...l be available in the nearest future, the panic will still be there. However, it does not necessarily mean that the volatility will be as high as not but certainly higher than in past years. No doubt that the impact of the pandemic on the global economy will be considerable. Some experts assume that the effects will not be pleasing and the market might slump into a long downtrend. Therefore, t...
Path: Blog... poverty is a major reason why a lot of people have limited to no access to medical care and education. The approach to solving this issue should be extremely flexible. **Removing financial secrecy through public registers can heavily affect the economy of the Overseas Territories** and generally affect the standard of living of their residents. Having analyzed the situation, the public co...
Path: Blog...cryptocurrencies are decentralized and sometimes it is anadvantage. Bitcoin now is a great value that proves **digital currencies’ viability**. It is an economic phenomenon, which can be the biggest miracle and a challenge for all the traditional economy at the same time. Even though many **banking facilities** are suspicious about Bitcoin, the others have a proactive position on adding cry...
Path: Blog...at doing business in Gibraltar remains safe and sound. Until the end of 2020, this territory will preserve all relations with the EU along by taking part in the negotiations. All future business agreements of the UK will make sure that Gibraltar’s economy, business sector and also society will not suffer from the inadequate conditions. **Offshorelicense Ltd** is certain that your Gibraltar bu...
Path: Blog...irst of all, cryptocurrencies are used for obtaining tokens. Investors purchase tokens on the Internet and initial coin offering tend to be global and anonymous. As a result, governmental authorities think of ICO as of a threat for a stable, classic economy. Nevertheless, The Bermuda Monetary Authority, does not plan to ban cryptocurrencies in the nearest future. They suppose that bringing virt...
Path: Blog... money laundering and tax evasion, is a paramount for the governments. During the seminar that was dedicated to the anniversary, ECLAC representative stated that the **new transparency policy** is a way to develop and strengthen democracy and public economy. What are the **main functions of ECLAC**? First of all, this UN commission is created specifically for the Latin America and the Caribbea...
Path: Blog...ction. This means that **2018\19 plans are very challenging for the Bermuda government**. They will have to deal with potential economical threats, like the US lowering corporate taxes, as well as implementing new rules and bringing jurisdiction’s economy to a higher grade. Wondering where to relocate your business or how to start a new one? **Offsorelicense Ltd** consultants are ready to hel...
Path: Blog**Hong Kong economy is one of the most attractive among the international entrepreneurs**. This is why the International Monetary Fund issued tax reform recommendations for this jurisdiction lately. For Hong Kong economy to stay competitive and flexible at the same time, it is vital to **rework tax structure** and change the approach. Nowadays, Hong Kong government receives the most revenue ...
Path: Blog...oming partners. The current plans include working in financial sector to develop international business potential of both countries. Presently, **Mauritius is a popular African territory for starting international business**. It is a competitive economy according to different factors. One of them is Mauritius double tax treaties with developed countries like Germany, United Arab Emirates, the ...
Path: Blog...fer funds using their smartphones. It will be possible to pay in retail outlets using QR code tied to the virtual wallet. It is expected that the newly introduced digital currency will optimize the local financial inclusion and boost the tourism economy. No doubts that the possibility to execute the alternative payments attracts the tourists. In current testing, the digital currency will b...
Path: BlogMaltese Parliamentary Secretary for Financial Services, Digital economy, and Innovation, Silvio Schembri made an announcement that was of utmost importance for companies and individuals who participate in the **gaming industry of Malta**. Nowadays the regulatory situation of this industry is as follows: different laws, contradictory documents, guidelines and directives. What will change? The Par...
Path: BlogHong Kong is a free economy that is situated in the fastest growing nation in the world, People’s Republic of China. As an international commercial logistics and financial centre, Hong Kong also has one of the most favourable tax regimes in the world.Description The law requires Hong Kong-incorporated companies to prepare audited financial statements. Although there is no requiremen...
Path: AccountingIn this article, we’ll look at why cryptocurrency is the future of electronic cash systems. Why it should become the most widely-used type of payment–and how this could impact the future of the global economy. We’ll also discuss why the Bitcoin dip and other market factors present both challenges and opportunities. **Consumer Benefits of Cryptocurrency** Since the beginning of the 21...
Path: Blog...us voted in favor of a bill tightening the issue of so-called “Golden passports” to investors, as reported by the Cyprus Times newspaper. “Golden passports” refer to passports and residence permits, granted in exchange for investments in the economy of the country. 29 deputies voted for the bill and 17 – against it. The above-mentioned law will come into force on 31 January 2020, up t...
Path: Blog...ans aimed at diversification of the region. Macao is a semi-autonomous region best known for its gaming sector. However, a number of new financial incentives give rise to rumors that China has plans for transforming Macao from a casino-dependent economy into a financial sector and technology incubator. New policies are designed for diversification of the economy and include the establishme...
Path: BlogCrypto taxation is one of the hottest topics of debate globally. And while most 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 sourc...
Path: Blog...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 “Sand Dollar” developed to boost the stability and resilience of the country’s economy. “Sand Dollar” will be made available in the form of a digital wallet which will be easily accessed by a smartphone. The biggest probl...
Path: Blog... institutions and authorities have developed a negative attitude towards cryptocurrency. The inability to govern and control crypto assets was making those institutions 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...
Path: Blog...rus Fiduciary Association (CFA), Michael Christos, this presents a great concern for local business sectors. The mass outflow of companies operating in Cyprus 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 th...
Path: Blog...to becoming a world leader in the blockchain space. Here are at least five signs of blockchain innovation in Australia right now. ***1. Australia Is a World Innovation Center*** You might not know it, but Australia is actually the 11th largest economy in the world. And it’s one that’s in a state of transition–fast. With an economy traditionally based on manufacturing, the government’...
Path: Blog...uary 2019, Parliament of Cyprus voted for a bill that would introduce more strict requirements for the issue of so-called ‘gold passports’ to investors. Similar to a residence permit these passports are granted in exchange for investments in the economy of the republic. This bill will take effect as of January 31, 2020. Read our blog to keep abreast of all interesting and actual news.
Path: Blog...d or your computer. Digital wallets serve as your bank account which allows you to send or receive bitcoins, pay for bitcoin transactions, and save or store your bitcoins for future use. No one can predict how bitcoin can affect world finance and economy in the long run, but judging by its practicality and its current popularity, it may be here to stay for a while. Bitcoin may even revolutioniz...
Path: Blog...ration: 2-4 weeks + delivery time for the courier Minimum paid up capital: No requirements, usually EUR 100 Overview Ireland is a well-reputed jurisdiction, attracting foreign investors with its stable and modern economy, good investment climate, and the access to both EU and global markets. The local business and legal environment provides the ease of doing bu...
Path: Companies...n Mediterranean, the island of Cyprus is conveniently situated at the hub of three continents; Europe, Asia and Africa. Cyprus is an important European business hub providing major advantages to foreign investors such as a low tax haven, a stable economy and a welcoming territory for any type of investments. The company registration procedure in Cyprus is basically the same for all business ent...
Path: Companies...schränkter Haftung' is a limited liability company in Germany.Incorporation: 5 weeks + delivery time for the courier Minimum capital requirement: €25,000 (50% minimum to be paid up) Overview Germany is the biggest economy in the EU and one of the biggest economy in the world, it has excellent business advantages including its economic performance, government eff...
Path: Companies...known as Holland is located in the western part of Europe. It is bordered by the North Sea in the north and west and its land boundary is shared with Belgium and Germany in the south and to the east respectively. The Netherlands has a free-market economy and is one of the richest nations in the world. Dutch prosperity has always been based on international trade and industry. The country also b...
Path: Companies...o investment managers targeting single European financial market. Lithuania has benefited from EUR180 million per year of European Union (EU) assistance and development funds since joining the EU in 2004. This has helped modernize the country’s economy. Lithuania is a member of the EU’s Schengen Area. Advantages of Limited Liability Company in Lithuania: - European Un...
Path: Companies...ank has 129 branches, of which 123 are in Cyprus, 1 in Romania, 4 in the United Kingdom and 1 in the Channel Islands. Bank of Cyprus also has representative offices in Russia, Ukraine and China. The central role of the Bank in the Cyprus economy was also recognized by the Award Best Bank in Cyprus 2015, by the global prestigious magazine Euromoney which named the Bank of Cyprus as the ...
Path: Banks...s 129 branches, of which 123 are in Cyprus, 1 in Romania, 4 in the United Kingdom and 1 in the Channel Islands. Bank of Cyprus also has representative offices in Russia, Ukraine and China. The central role of the Bank in the Cyprus economy was also recognized by the Award Best Bank in Cyprus 2015, by the global prestigious magazine Euromoney which named the Bank of Cyprus as the ...
Path: Banks...safeguarding and growing their wealth.Account opening: 7-14 working days Overview: Bank Alpinum (BA) is independent private bank with AAA- rating from Standard&Poors for its debt-free national budget. The country’s economy is well diversified and Liechtenstein has been one of the best and most secure marketplaces of the world for many decades. Its stability and u...
Path: Banks...s of safeguarding and growing their wealth.Account opening: 7-14 working days Overview: Bank Alpinum (BA) is independent private bank with AAA- rating from Standard&Poors for its debt-free national budget. The country’s economy is well diversified and Liechtenstein has been one of the best and most secure marketplaces of the world for many decades. Its stability and u...
Path: Banks...includes England, Scotland, Wales, and Northern Ireland. The United Kingdom is an industrially developed country with a high rating and a standard level of taxation. It is a member of the EU, UN, NATO and other international organisations. The economy of the UK is amongst the five largest in Europe. The capital is London which is one of the leading financial and business centres of the world...
Path: Companies...risdiction. The enactment of the law to establish a Limited Liability Company (LLC) in October of 1992, which combines the best aspects of the Corporation and the Limited Partnership, has made Delaware even more attractive in its quest to expand its economy. The companies incorporated in Delaware are known as LLCs, which offer the advantages of a combination between a corporation limited by sha...
Path: Companies...ays + delivery time for the courier Minimum paid up capital: No minimum capital requirement Overview The Republic of Singapore (SG) is an island nation situated in Southeast Asia between Thailand and Malaysia. The SG economy is one of the most intensively growing financial systems in the world. SG is known for its business-friendly regulatory environment, ease o...
Path: Companies...SIDS) in the Eastern Caribbean. The country’s primary resources include a very agreeable climate, extensive areas of high ecological value, democratic governance, a well-educated and healthy population. The most significant economic driver for the economy and the main direct and indirect contributor to Antigua & Barbuda GDP is tourism. The country enjoys a high standard of living, well-ed...
Path: Companies...includes England, Scotland, Wales, and Northern Ireland. The United Kingdom is an industrially developed country with a high rating and a standard level of taxation. It is a member of the EU, UN, NATO and other international organisations. The economy of the UK is amongst the five largest in Europe. The capital is London which is one of the leading financial and business centres of the world...
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