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Bulgaria Accounting Services

Bulgaria is considered to have a favourable tax regime as it has one of the lowest Corporate Income Tax rates in the european union.Description Bulgaria is favorable to companies not only of the favorable tax regime, but also of low costs of doing business and great access to different markets. Due to its locations Bulgaria provides a direct access to european union, Turkey, CIS, Midd...

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

...ular: Cyprus, Switzerland, the UAE and other. Considering this point, it is useful to consult with international lawyer to choose the right jurisdiction for your business. Taxation is one of the main reasons why business moves offshore. Nowadays, european union is on the way to remove obstacles for small and mid-sized business, especially in taxation sphere. Local jurisdictions all over the Eur...

Path: Blog
EU and US propose legislative changes regarding digital asset industries

Recently european union (EU) and United States (US) brought legislative changes regarding cryptocurrency industry. New set of rules for crypto industry in EU known as the Markets in Crypto-Assets (MiCA) was introduced online. The draft was introduced by European Commission and the draft legislation purpose is to provide legal clarity around cryptocurrencies (including security tokens and stabl...

Path: Blog
Malta Gambling License

Malta is part of the european union which makes it a very attractive jurisdiction to obtain a gambling license in. It comes with tax incentives and an expert work force.Incorporation & obtaining license: 4-6 months Minimum paid up capital:  Type 1 – Minimum €100,000 Type 2 – Minimum €100,000 Type 3 – Minimum €40,000 Type 4 – Minimum €40,000 Over...

Path: Licensing
Bulgaria Portfolio Management License

Bulgaria is the best solution for applicant who prefer to direct their business to the european union market, as well as the markets of central and Eastern Europe. The activities of Bulgarian licensed entities are supervised by Financial Supervision Commission of Bulgaria (FSC) and governed by Financial Supervision Commission Act and the MiFID Directive.Overview The Financial Supervision Commi...

Path: Licensing
German Political Parties raise discussion on implementing Regulation for Crypto Blockchain Industry

...arties in Germany made a proposal of issuing a regulatory framework for cryptocurrencies and the blockchain industry. The Social Democratic Party (SPD) published a statement on their website, which suggests strict overseeing of crypto assets by the european union institutions. SDP’s position of Germany’s need of ‘comprehensive digital awakening’ is shared by such political parties as t...

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

...list of jurisdictions with strategic deficiencies in their approach to Anti-Money Laundering/Counter-terrorism financing policies and which are closely monitored by the international financial watchdog. This resulted in inclusion of Mauritius on the european union Anti-Money Laundering list of high-risk third countries, the so-called “Black List”, performed by European Commission. In order ...

Path: Blog
How to Offshore: Useful Tips and Tricks from Leaked Apple Inc. Papers

...e Apple experience here? Corporations whose incomes are measured in billions dollars are obliged to keep their fingers on the pulse in the offshore field. Before the law amendments, Apple used Ireland as a tax shelter. The changes were due to the european union’s requirements to Ireland to update tax legislation. The EU considered that drawing corporations to your country is an improper actio...

Path: Blog
Bitcoin fortifying its positions: El Salvador, Paraguay and Beyond

...affect the future of Bitcoin usage is idea of nationally-issued cryptocurrencies, as China has been working on issuing a nationally-issued digital currency for several years; the United States is considering launching a ‘digital dollar’, and the european union has been exploring a ‘digital euro’. Therefore, one could imagine the formation of an international digital currency exchange sy...

Path: Blog
ASIC’s strengthens consumer protections by reducing CFD leverage

...atio limits in the order aim to reduce the size and speed of retail clients’ losses by reducing CFD exposure and sensitivity to market volatility. This follows similar measures introduced in major overseas markets, including the United Kingdom and european union. Product intervention order will remain in force for 18 months, after which it may be extended or made permanent. Civil and criminal...

Path: Blog
Diversified reporting in no-deal Brexit scenario

The United Kingdom (UK) left the european union (EU) on 31 January 2020. A transition period is now in place until 31 December 2020. If UK leaves the EU without an agreement (no-deal Brexit), it is important to ensure transaction reports are submitted to the correct Trade Repository (TR) and/or Approved Reporting Mechanism (ARM). At the moment there are no indications that Brexit deal will be...

Path: Blog
New requirements for Lithuania and UK EMIs

Electronic Money Institutions (EMIs) will be facing uncertainty over regulations due to post-Brexit and Sixth Anti Money Laundering Directive (6 AMLD) which provides obligations that need to be transposed by european union Member States by the December 20th, 2020. Due to the worldwide covid-19 pandemic Brexit was postponed for few months, however currently Brexit has been brought back and is ...

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

...ally, that confirmation is considered to be a rubber-stamping process. It is pretty clear, that the United States did not pick Malta’s side during session on 23rd of June. After approval of the vote results, Malta will be the first member of european union to be “greylisted”. Malta’s opposition leader Bernard Grech described the decision as a "punishment for the entire nation" and...

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

After more than three years since the vote took place in 2016, on January 31, 2020, **United Kingdom officially has left the european union**. Since the official withdrawal from the bloc, the region is now in a 11 – month transition period (beginning on February 1st and ending at the end of this year on December 31st) during which the european union and the United Kingdom will negotiate an...

Path: Blog
Offshore jurisdictions introduce strict requirements for tax residents

...urrently considering the respective bill in its second reading on December 17. Before the end of December, the same acts should be adopted by governmental authorities of BVI and other Overseas territories. In December of last year, the Council of european union published a “gray” list of more than 40 tax regimes that do not fully comply with the principles of fair and transparent taxation. ...

Path: Blog
Gibraltar criticizes Brexit Agreement Draft

...it agreement draft** and Gibraltar’s government had great expectations of this withdrawal agreement due to its position towards the Brexit. We have already informed you on this territory’s position, where 96 percent voted against leaving the european union. At the same time, the United Kingdom promised its overseas territory any possible support during the transition period and after leavi...

Path: Blog
Will Bahamas be removed from the EU tax blacklist?

...but, at the same time, an important guide which makes a huge impact for choosing contractors while doing business. This year, the US Virgin Islands, **Saint Kitts and Nevis were also listed as territories with non-cooperative tax jurisdictions**. european union is concerned about tax policies of offshore territories and welcomes only the ones who support their political position. At the same...

Path: Blog
Gibraltar protects its sovereignty during the Brexit negotiations

**The UK transitional draft agreement with the EU** was published on March 19th. We have analyzed the current state of Gibraltar and prepared a short digest on the latest news. The UK Secretary of State for Exiting the european union, David Davis, officially announced that **Gibraltar** is included in the transitional agreement. At the same time, up till 2020 EU, UK and Gibraltar claim to supp...

Path: Blog
Economic Substance Regulations in UAE

... the states where ultimate beneficial owners or parent companies reside. Ultimately, it is up to the Regulatory Authority to decide on penalties imposed on a company. **Why regulations?** In 2019, the United Arab Emirates were removed from the european union blacklist of non-cooperative jurisdictions. The Economic Substance Regulations have been passed to implement the commitments to improve...

Path: Blog
Bulgaria Audit Services

Bulgaria is considered to have a favourable tax regime as it has one of the lowest Corporate Income Tax rates in the european union.Description Bulgaria is favorable to companies not only because of the convenient tax regime, but also of low costs of doing business and great access to different markets. The Bulgarian Accountancy Act requires that financial statements of th...

Path: Accounting
The main benefits of Cyprus formation

...gal regulatory system and, as a former British colony, it is a common law country with business legislation comparable to those in the UK. Every Cyprus company enjoys all the benefits of functioning in an EU country, since Cyprus is a member of the european union. Additionally, the island has well-versed, professional staff who speak fluent English, as well as know Russian since it is, also, a po...

Path: Blog
CySEC introduces restrictions for CFD offering to retail investors

...the retail client, the legal challenge might arise. The CySEC’s solution to this legal challenge would be a territorial approach to residents of other EU Member States taking into account that generally, measures adopted by the NCAs across the european union do not differ substantially. New measures are tailored in a way that allows to replicate and incorporate measures adopted by other NCAs...

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

...ce for foreign companies has entered into force in BVI, which will become a powerful barrier for the registration of shell business. **British Virgin Islands, beloved all over the world for zero taxation of legal entities, in agreement with the european union, enacted the Law on Economic Presence, which entered into force on January 1, 2019.** In 2017, the Code of conduct group on the obse...

Path: Blog
Businesses will be required to meet criteria of physical presence in Belize

... Amendment Act, and the Stamp Duties Amendment Act. During the last few years Belize had tense relations dealing with European institutions and other offshore counterparts. These issues resulted in a risk for the country to get blacklisted by the european union (EU) and the Organization of Economic Co-operation and Development (OECD) with regards to transparent and accountable tax standards. A ...

Path: Blog
Cyprus intends to tighten the rules for issue of "Golden passports"

... despite that, the authorities are mostly fixated on the construction of luxury housing in the country, such as towers in the city of Limassol. Supporters of the bill stated that its purpose is “to protect the integrity of Cyprus”. Within the european union three countries – Bulgaria, Cyprus and Malta – issue “Golden passport” to foreigners. In order to obtain such a document in Mal...

Path: Blog
Worldwide Design registration

... have a real and effective industrial or commercial establishment in, or be domiciled in, or be a national of a treaty which is a party to the WIPO Convention. Applicants who have such an establishment or are domiciled in the territory of the european union, or are nationals of a member State of the european union, are also entitled to file an international application. Renewa...

Path: Licensing
Worldwide Patent registration

...a real and effective industrial or commercial establishment in, or be domiciled in, or be a national of a country which is a party to the Paris Convention or PCT. Applicants who have such an establishment or are domiciled in the territory of the european union, or are nationals of a member State of the european union, are also entitled to file an international application. Renewa...

Path: Licensing
Local Design registration

...llectual Property Organization (OAPI), Lusaka Agreement, host institution: African Regional Intellectual Property Organization (ARIPO), The three “Benelux” countries, host institution: Benelux Office for Intellectual Property (BOP), The european union, host institution: european union Intellectual Property Office (EUIPO), There is an option to file an industrial design application ...

Path: Licensing
Local Patent registration

...al or commercial establishment in, or be domiciled in, or be a national of a country which is a party to the Agreement and/or the Convention, and/or the Protocol. Applicants who have such an establishment or are domiciled in the territory of the european union, or are nationals of a member State of the european union, are also entitled to file an international application. Renewa...

Path: Licensing
Switzerland Crypto License

...he holding company owns 20% of the share capital of another legal entity, it can also benefit from the reduction of the corporate tax rate at the federal level; Exemptions from the dividends - The double tax treaties signed by Switzerland with the european union and several other jurisdictions, can provide tax exemptions for the dividends received by subsidiaries of the Swiss holding companies. ...

Path: Licensing
Worldwide Trademark registration

... and effective industrial or commercial establishment in, or be domiciled in, or be a national of a country which is a party to the Agreement and/or the Protocol. Applicants who have such an establishment or are domiciled in the territory of the european union, or are nationals of a member State of the european union, are also entitled to file an international application. Renewa...

Path: Licensing
Local Trademark registration

...the registration of the mark is to own the rights to the intellectual property, we usually suggest to incorporate in low maintenance fee jurisdictions. For a list of potential options, please contact our team members.There is an option to register a european union trademark (EUTM) separately, or complementary to national trademark in a member state. EUTM secures exclusive right for a trademark in ...

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

... Minimum paid up capital: The minimum contribution of each shareholder to the registered capital is CZK 1, however it is recommended to set-up an s.r.o with a minimum of CZK 1,000   Overview Czech Republic is a member country of european union located in its center with developed infrastructure and services. Czech Republic has stable political system supporting business activi...

Path: Companies
Andorra Limited Liability Company (SL) Formation

...ny executes each month/year.   Overview Andorra is a microstate located in Europe and bordered by Spain and France, which jointly protect the state, allowing it to enjoy many privileges available exclusively to the member states of the european union without actually being a part of it. Such benefits include being treated as an EU member state for trade in manufactured goods and havi...

Path: Companies
Estonia Private Limited Liability Company (Osaühing or OÜ) Formation

... Estonia is is a small Eastern European country located in the Baltic Sea Region, having a well-developed connection links with Russia, Nordic markets such as Finland and Sweden as well as with its Baltic neighbours Latvia and Lithuania. Being the european union member state, Estonia enjoys high levels of investment, financial freedom, and property rights while corporate tax rates remain relativ...

Path: Companies
Isle of Man Limited Liability Company Formation

... Overview The Isle of Man is a self-governing British crown dependency, located in the Irish Sea at 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...

Path: Companies
Limited Liability Company in Lithuania

...erview  Modern financial infrastructure and favorable legislation makes Lithuania one of the most attractive places to 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 m...

Path: Companies