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Seychelles fsa Introduces Updated Beneficial Ownership Guidelines
The Seychelles Financial Services Authority (fsa) has issued new guidelines on beneficial ownership to enhance transparency and compliance in its financial sector. These guidelines are designed to help financial institutions and other entities identify and report the individuals who ultimately own or control a business. This move is part of Seychelles' ongoing efforts to combat money laundering a...
Path: BlogLabuan fsa Tightens Money Broking Rules Amid Growing Industry
As the money broking business continues to grow in Labuan IBFC, the Labuan Financial Services Authority (Labuan fsa) has stepped up with a revised set of guidelines to ensure the industry keeps pace with modern financial challenges. The new guidelines are designed to tighten regulations, promote better governance, and protect investors, especially with the increasing digitalisation of financial s...
Path: BlogDubai is set to regulate investment tokens
‘Good news for industry’ as stated by the Binance Middle East and North Africa chief. The Dfsa has introduced new regulatory framework for investment tokens which regulate security and derivative tokens. According to the interview of Omar Rahim, Binance’s Middle East and North America director, held by the ‘Arabian Business’ media outlet, “There have been a number of ‘false star...
Path: BlogHow to Obtain a Crypto License in Saint Vincent and the Grenadines
...Months) Application Fee: Pay an application fee of 4,000 East Caribbean Dollars (approximately USD 1,500). Security Deposit: Place a security deposit of 100,000 East Caribbean Dollars (about USD 37,000) with the SVG Financial Services Authority (fsa). Detailed Application: Submit a detailed application including the business description, AML/KYC systems, and IT infrastructure. Interviews: Pa...
Path: BlogComprehensive Guide to Opening an Offshore Company in Seychelles
...s. This confidentiality is a crucial advantage for businesses looking to operate discreetly. 3. Ease of Incorporation The process of Seychelles company registration is straightforward and efficient. The Seychelles Financial Services Authority (fsa) facilitates quick incorporation, often within 24 hours. This efficiency allows businesses to start operations promptly. 4. Flexibility in Busi...
Path: BlogFresh breath of air for innovative financial services in Labuan
**Labuan Financial Services Authority (Lfsa) supports innovative financial services (IFS)** such as fintech and assists Labuan entities in case of providing related to fintech activities. Lfsa expressed its interest in attracting “Innovative Financial Services” to the region including businesses involved in distributed ledger technology and cryptocurrencies as it stated in “Circular on ...
Path: BlogJapan to Tighten Crypto Rules for Preventing Sanctions Evasion
Japan Implement Stricter Crypto Rules in Order of Sanctions Evasion Prevention. - Legislation updates are initiated by the Russia-Ukraine war conflict. - In case crypto exchanges suspect unauthorized transactions, they are obliged to notify the fsa. The government of Japan is to tighten rules on cryptocurrency exchanges, as the country announced intentions to update its Foreign Exchange an...
Path: BlogToo old for trading
... of older people. There can be a lot of different reasons for imposing such age restrictions. One of the most possible is that older people are more likely to become victims of scams and other online frauds. **Japanese Financial Services Agency (fsa) received 197 reports of investment frauds during the first quarter of 2017**, at the same time most of the complaints come from elderly people. A...
Path: BlogJapanese Financial Services Agency is discussing to impose stricter Crypto Laws
**The aim is to begin the use of new rules by mid-2022.** Financial Services Agency (fsa) of Japan has begun taking steps towards strengthening cryptocurrency regulation, aiming to provide better protection to the local investors. Due to local media outlet ‘Jiji Press’ report, debates on the new crypto laws are already initiated by Japanese authorities. It is planned to develop risky digi...
Path: BlogJapan and South Africa are to set new crypto regulations
...n the scope of recent activities and scandals within the cryptocurrency market.** **Japan works on both regulatory and diplomatic levels to introduce Crypto Regulations.** In terms of introducing crypto regulations, Financial Services Agency (fsa), Japan’s financial watchdog, has recently established a new overseeing unit for digital currency regulatory frameworks, while the Ministry of F...
Path: BlogNew Legal Framework for Forex Brokers in Saint Vincent and the Grenadines
...ished for the purpose of carrying out the business of forex Trading and Brokerage and other related activities in SVG, therefore, in SVG might be some big changes coming in terms of regulation. In recent months, rumors have been growing that the fsa will be implementing new set of regulations. At this point SVG jurisdiction is similar to the situation in the Marshall Islands, and brokers are n...
Path: BlogJapanese Officials Introduce New Amendments in Japan’s Crypto Laws
...to keep users’ funds and their funds together. Importantly, this regulation extends across both crypto and fiat reserves. As part of the of the enforced policies, the new regulations place cryptocurrency asset derivatives transactions under the fsa’s jurisdiction. Additionally, the updated regulations have refined terminologies, calling them “crypto assets” instead of “virtual currenc...
Path: BlogJapan's Financial Services Agency is ready to approve crypto exchange-traded funds (ETFs)
At the moment the Financial Services Agency (fsa) of Japan is estimating the industry’s interest in ETFs (exchange-traded funds) tracking cryptocurrencies. Liberal Democratic Party, **Japan’s main ruling party, is planning to submit a draft law by March 2019, that, among other things, can potentially include changes to existing financial rules regarding cryptocurrency**. The above-mention...
Path: BlogTwo of Malta's blockchain acts came into force
...g the successfully obtained licenses. Dear readers, we hasten to inform you that they might be misleading. **Offshorelicense** as a reliable corporate service provider has obtained official clarification from the Malta Financial Services Authority (Mfsa). In accordance with this clarification, the **Mfsa has yet to issue any licenses under the laws since the requirements for the applicants current...
Path: BlogNew anti-money laundering rules for crypto exchanges in Norway
**Norway Financial Supervision Authority (fsa) recently announced new requirements for virtual currency exchange providers and businesses that create, store and maintain cryptographic keys.** New money laundering rules shall come into force as of October 15, 2018, and will focus on reporting companies established in Norway, including branches of foreign companies. Also, the new requirements wi...
Path: BlogLabuan Fund Management License
...en since a company is subject only to 3% of profit tax on net audit profits, and full exemption from other local taxes, assuming that a company does not carry our business activity on the territory of Labuan. Labuan Financial Services Authority (Lfsa) is local financial regulator which sets forth strict requirements in order to attract to Labuan only experienced, reliable and dedicated financia...
Path: LicensingLabuan Crypto License
...ay the third party for them, whether or not deducting any discount or commission, in return for payment to be made thereafter to the issuer by the customer. Currently, there is no minimum paid-up capital for credit token business prescribed by Lfsa. However, the Regulator may impose the requirement in their conditional approval letter to ensure that the capital is in accordance with their bus...
Path: LicensingJapan Virtual Currency Exchange Provider’s License
...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 the fsa/Local Financial Bureau In order to obtain license, Offshorelicense will fill all necessary application forms and also acquire apostilled cor...
Path: LicensingLabuan Investment Banking License
...x and service tax for all international dealings no inheritance tax Registered office - Required Registered agent - Required Secretary - Required Accounting and Audit requirements Submission of accounts to Labuan fsa within 6 months after the close of each financial year Local Approved Auditor has to be appointed during the process Minimum of MYR 180 000 of...
Path: LicensingSeychelles Securities Dealer License
...anding Additional Due diligence may be prescribed by Financial Services Commission*: Original documents that proof of source of capital All documentation shall be provided in English* * Additional documents may be requested by the fsa or local Bank at any point to certify specific information * If documents are not in English, then they must be accompanied by a notarized tran...
Path: LicensingKazakhstan Crypto License
...of preliminary documents, including company name, passport copies, utility bills, CVs, business model, and financial plan. Stage 2: Licensing, involving determining the suitable license type, preparing documentation, submitting the application to Afsa, and handling additional requests. Stage 3: Company registration, preparation of corporate documents, employment of local employees, and setup o...
Path: LicensingLabuan Money Broking License
...ces Labuan Malaysia offers one of the strongest regulatory frameworks and taxes in Labuan are comparatively low (3%). For starting money broking business in Labuan, it is required to obtain a license from Labuan Financial Service Authority (fsa). There are three options for launching money brokerage business in Labuan: have an established Labuan company in Labuan (with knowledge ...
Path: LicensingLabuan Accounting Services
... institutions are allowed to adopt any accepted international accounting standards including issued Financial Reporting Standards (FRS) issued by Malaysian Accounting Standard Board (MASB). In the Federal Territory of Labuan need to report to Labuan fsa of your business activities. The IRB deadline to submit your corporate tax is 31st of May, of which you should send your accounts for audit by Mar...
Path: Accounting