...your ICO company in Estonia is a great choice due to the local remote maintenance administrative tools, which mean minimal bureaucracy level, and due to the absence of any specific regulation on ICOs by the Estonian Financial Supervisory Authority (Efsa). However, it is highly recommended that ICO Companies completed an analysis of their planned activity in order to clarify whether the particular...
Path: Licensing... 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: Blog...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: BlogJapan 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: Blog**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: Blog**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: Blog‘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: Blog...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: Blog...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: BlogAt 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: Blog...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: Blog**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: Blog...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: Licensing...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: Licensing...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: Licensing...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: Licensing...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: Licensing... 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