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Utility tokens to be! A new crypto legislation in Montana
...nt provided by the issuer. Along with the above requirement, the initial buyers of the token cannot resale it until the consumptive purpose for which they bought the token becomes available. It should be pointed out that the federal rules surpass legislation at the state level laws, so the real-world impacts of the bill is at a risk of being restricted to crypto issuances within the state and t...
Path: BlogKnow-hows on Different legislations and Blockchain Implementation Profitability in Your Business
...erritory, is one of the subjects to regulate Blockchain companies in early 2018. The Bill and Regulations will become **a new economic opportunity for all businesses** that use this technology. Gibraltar’s Minister for Commerce states that the new legislation will create a safe and strategically beneficial environment for the companies. If you are willing to implement **Blockchain technologie...
Path: BlogNew legislation of Jersey will allow to form Limited Liability Company
Jersey Finance recently announced new legislation that will enable the establishment of Limited Liability Companies (LLCs) and will have a serious impact on business relations with the US. Draft of the Limited Liability Companies Law was approved by Jersey’s government on 11 September, breaking the ground for LLCs to be established in Jersey. Combining the flexibility and privacy of a p...
Path: BlogBahamas Securities Commission pushes for new legislation for token sales
...nd comments and the period of consultation will likely be extended for another month, until May 28. After that, the document will be passed to the government and then to parliament, where the final decision will be made – whether to accept the new legislation. THE BILL IN DETAILS As it is stated in the bill, the updated regulation will apply to token issuers, wallet providers, exchanges a...
Path: BlogAttention! False information about updated Estonian legislation for cryptocurrency companies flooded the internet
During the last few days, a lot of news related to "new" legislation in Estonia began to appear on the Internet. One of the main sources of such information was the local consulting firm ESTI. According to their report, Estonian Ministry of Finance (EMF) released amendments to local crypto legislation that have significantly raised the bar for new potential crypto-companies. The report also ...
Path: BlogCrutial amendments to the Polish tax legislation in 2019
The CIT (Corporate Income Tax) in Poland is a tax collected from legal entities and the PIT (Personal Income Tax) is collected from physical persons. The amount of CIT is based on the net income companies obtain exercising their business activity, and the PIT must be paid by every individual who obtains income, e.g. receives remuneration (under employment contracts or civil law agreements) often ...
Path: BlogSouth Korea is planning to amend current tax legislation in order to boost blockchain startups
**The government of South Korea announced its plans to amend current tax rules in the part that concerns innovative companies – including, but not limited to, blockchain and crypto startups.** During a meeting of ministers from government agencies, a decision was made to expand tax benefits for companies that focus their research and development (R&D) on modern technologies. This move was ma...
Path: BlogRussia is considering to allow crypto trading
...actively discussing the idea of allowing cryptocurrency trading.** The country’s major crypto bill on “Digital Financial Assets" is already being drafted, and Deputy Minister of Finance, Alexei Moiseyev, informed what should be expected when the legislation is finally passed: *"There is a range of possibilities from prohibition to the possibility of purchase. Like with foreign currency, it ...
Path: BlogHow to store your crypto with the less tax consequences
...ation; as for an example, the USA has specific tax prescriptions that might cover an overseas trust or custodianship. **The mechanism allowing placing your assets with licensed trusts or custody solutions puts you in a better place to comply with legislation designed for institutions.** Read our blog to keep abreast of all actual and interesting legal tips.
Path: BlogRussia is planning to create asset-backed cryptocurrency
...he Russia, Elvira Nabiullina, the bank acknowledges advantages of developing new crypto-coin to establish a fiat settlement system within the Eurasian Economic Union. A lot of local crypto companies could benefit from a new set of cryptocurrency legislation that the lower house of the Federal Assembly of Russia, is scheduling to adopt in the course of the year. The Central Bank and counterp...
Path: BlogCySEC has expanded its authority
...hority. In accordance with the new regulations, **CySEC will be able to control the country’s financial sector**. New powers allow the Commission to better fulfill its obligations as the authority responsible for financial oversight. CURRENT legislation At present, individuals and legal entities, that are subject of an investigation, may refuse to provide CySEC with information that con...
Path: BlogFrom now cryptocurrency will be under AML rules in Thailand
...volving cryptocurrencies, but Preecha said that the country must be ready for this, since criminal elements will increasingly use digital assets to conceal their illegal funds. In order to prepare for this, the secretary-general plans to amend local legislation and bring cryptos into the AML regime. The aforesaid process will start with the Anti-Money Laundering Act. **Changes shall be made in...
Path: BlogLegalization of Cryptocurrencies in Russia
...ma introduced new legal framework legalizing cryptocurrencies in Russia and also properly defining them. Draft law was approved by legislative branch in the third reading and the new law will come into effect on January 1, 2021. According to new legislation any digital currency will now be recognized as a set of electronic data which can be used for payments purpose or even as an investment to...
Path: BlogRussia adopting three-tier cryptocurrency regulation
...urrency. 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 Central Bank of Russia perceives cryptocurrency as a threat to Russia’s monet...
Path: BlogCySEC proposes three levels of leverage for retail clients
...selling and distributing retail contracts for difference has tightened greatly. *“Temporary product intervention measures set across Europe have supported CySEC’s own efforts to enhance investor protection. As this guidance is introduced into legislation alongside additional national measures and restrictions set by CySEC, our communication with investors and the industry representatives wi...
Path: BlogSouth Korea to tax capital gains on crypto
...l estate capital gains. South Korea is currently enhancing the know-your-customer (KYC) and anti-money laundering (AML) requirements and is moving towards the regulated crypto industry. It worth noting that the National Assembly greenlighted legislation that recognizes crypto as digital assets and giving them a legal status. Current regulations require crypto platforms operating in the cou...
Path: BlogJapanese Officials Introduce New Amendments in Japan’s Crypto Laws
Last year two of legislation were passed by the Japanese House of Representatives - The Payment Services Act (PSA) and the Financial Instruments and Exchange Act (FIEA), as a result Japan will be enforcing new cryptocurrency- related regulation. Originally new legislations were scheduled to come into effect in April, but due to a COVID-19 pandemic delay the final enforcement date has been offi...
Path: BlogAttempts to Unify Cryptocurrency Regulation and Introduction of the Travel Rule
...with a competent local finance entity. Although Estonia is not a member of FATF, updated guidance is considered as a foundation for new legislative changes in Estonian cryptocurrency licensed businesses. In May 2019, the Estonian officials passed legislation tightening licensing requirements, and in January 2020, it went further, asserting that virtual currency service providers will be treated...
Path: BlogSouth Africa’s Introduction to Crypto Regulation
... The new recommendations follow IFWG’s previous crypto consultation paper, issued in Jan 2019 - IFWG’s newest recommendations are open for comment through May 15. Considering South Africa’s official’s intentions to introduce new crypto legislation, Offshorelicenese team are ready to assist our clients to apply for the South Africa’s FSCA license according to legislation requirement...
Path: BlogImpact of New Legal Framework on Estonian Crypto Market
... from the client and crypto exchange business newcomers point of view. In order to support your intended bussiness activities, our Offshorelicense team are ready to assist our clients with crypto license obtaining in Estonia according to newest legislation requirements or acquire Estonian shelf companies with active crypto licenses. Read our blog to keep abreast of all actual and interesti...
Path: BlogBusiness advantages of Belize offshore jurisdiction
... is not so offshore anymore. **How to open a bank account in Belize and what are the requirements?** Central Bank of Belize, which was established according to the Central Bank act is the main governmental bank in this jurisdiction. Also, main legislation documents in this branch are Offshore Banking act, Money Laundering act and a basic Bank and Financial Institutions act. When you start...
Path: BlogNew Legal Framework for Forex Brokers in Saint Vincent and the Grenadines
...territorial tax system in exchange for economic substance for all relevant entities so that the jurisdiction remains off any listing by the OECD / EU while at the same time remaining competitive from a tax perspective. The FSA is aiming to have such legislation in place before the end of 2020. SVG is not considered as a forex hub but the new regulations could be positive for the industry, as it...
Path: BlogChina amends the FIE record-filing laws regulating foreign investments
...The new system will be used for the establishment of **Foreign-Invested Enterprises (FIE)** which does not involve the special market entry management measures prescribed by the State. On October 8, 2016, to implement the amendments in the above legislations the MOFCOM issued the **Interim Measures** for Record-Filing Administration of the Establishment and Change of Foreign-Invested Enterpris...
Path: BlogNew 6 AMLD Compliance Conditions for EMIs
...are not been forced to comply with new conditions, but it is quite probable that EMIs, especially in the Baltics, will have to follow the lead of the cryptocurrency exchanges. This is up to the EU Member States to introduce the Directive in local legislation, keeping in mind that Directive require only minimum level of implementation - Member States may decide and have the ability to impose a h...
Path: BlogVanuatu is Willing to Move Its Financial Dealers Onshore
...ices'. St-Hilaire says: “Vanuatu wants to bring about a sea change in the way it does business, by transitioning from an offshore, protected financial center to an onshore transparent Fintech center.” We understand, that such amendments in legislation may scare many of our customers from starting a business in Vanuatu. However, these changes have not became a complete surprise for us and...
Path: BlogLuxembourg Investment Fund License
Luxembourg is one of the most experienced and dynamic global investment fund centers in Europe. The success of the country can be attributed to political stability, the encouragement to foreign capital and investment, favorable and well-defined legislation, availability of multilingual staff and professional expertise.Timeframe: up to 4 months Minimum capital requirements: Management comp...
Path: LicensingUK Crypto License
...of the industry by the Financial Conduct Authority. However, it is highly recommended that Crypto Exchange Companies completed an analysis of their planned activity in order to clarify whether the particular Crypto Exchange project complies with the legislation of the United Kingdom.Timeframe: 9 - 12 months Minimum paid up capital: There is no specific minimum share capital requireme...
Path: LicensingBelize Money Transmission License
...vides possibility for financial service providers to obtain different financial licenses with local Regulator - IFSC. Belize licensed entities enjoy high level of confidentiality, tax exemption and other benefits of modern and user-friendly offshore legislation.Incorporation & obtaining license: 3-4 months Minimum paid up capital: USD 75,000.00 * License fee: USD 1,000.00 ...
Path: LicensingEstablishing an Offshore Business: An Overview
...lawful or used for tax avoidance or money laundering. With the right structure, they offer a clear and legal means of lowering tax obligations. Offshorelicense ensures that your offshore business is properly designed to comply with international tax legislation while also meeting your business objectives and long-term ambitions. Global Business Development Expansion globally might be difficult d...
Path: BlogHow to Obtain a Crypto License in Saint Vincent and the Grenadines
...hensive overview of how to obtain a crypto license in SVG, detailing the necessary steps, requirements, and benefits. Overview of Cryptocurrency Regulations in SVG Regulatory Environment Saint Vincent and the Grenadines does not have specific legislation exclusively governing cryptocurrency activities as of now. However, the country's involvement in the ECCU pilot program reflects its openn...
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: BlogControversy on 30% Crypto Tax in India
...ciation from all the stakeholders. The higher taxes may discourage investors from choosing crypto as an investment avenue and delay the mass adoption of crypto assets in India,” said Jay Hao, the CEO of OKX.com. Furthermore, new crypto taxation legislation explicitly rules out the exemption of crypto gains under any deductible sections, which will force those involved in crypto trading to fil...
Path: BlogIndian Declaration on Cryptocurrencies Proposes Jail Term for Violation of Rules
**The bill with such proposal is to be tabled for voting in the nearest time.** While Indian government is still working on development of cryptocurrency legislation, which is expected to be set on vote in the ongoing session of the Indian parliament, this legislation included a proposal of complete ban on cryptocurrency use as a payment method and violation of such law may lead to criminal ch...
Path: BlogNigeria’s Crypto regulation as a solution for financial services
...Trends, Nigeria is ranked first worldwide in Google searches for terms like ‘Bitcoin’, ‘Ethereum Nigeria, South Africa, and Kenya lead the continent in monthly crypto transfers. These activities have led SEC to introduce and implement adequate legislation. Major activities have been observed by retail investors, but new legal framework could encourage institutional adoption also. Larger inst...
Path: BlogCyprus Securities and Exchange Commission (CySEC) accepts new policy for Crypto-Asset providers
This summer, on the 25th of June, Cyprus Securities and Exchange Commission released its directive on the Crypto-Assets Service Provider register (CASP Directive), which main objective is formation of subsidiary legislation, issued under the section 61E of the Cypriot Prevention and Suppression of Money Laundering Law 2007. In addition to that, on the 13th of September, CySEC issued a Policy S...
Path: BlogCuba is up to define Crypto Regulation Guidelines
...d cycle of articles on this topic continues – Cuba is following the likes of Tanzania, El-Salvador, Japan and South-Africa – all of those countries are paying attention to crypto-currencies and are working hard in order to develop the respective legislation.
Path: BlogJapanese Financial Services Agency is discussing to impose stricter Crypto Laws
... 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 digital asset regulation by summer-2022. The work on the new legislation is motivated by FSA will to stabilize digital currency industry without interfering crypto-projects development. Last month, Financial...
Path: BlogNew Gambling regulator in Curacao is coming?
...cepts players from a country in which online gambling is prohibited by law (i.e., Poland, where an online casino is a state monopoly and, as a result, operating under the Curacao license is illegal), then such an operator **will violate not only the legislation of such a country, but also the legislation of Curacao.** It is now **crucial for Curacao gambling license holders** to at least check ...
Path: BlogLawyers’ Lobbying Efforts result in lifting Crypto-Ban in Vanuatu
... Vanuatu, as well as to attract new digital asset companies for which the most important part is to know how to bank them properly and protect their interests while staying fully compliant and socially responsible.” “The novelty about the new legislation is not about brokers being able to use Crypto deposits or trade or offer Crypto for themselves or at their business, which is great in its...
Path: BlogHong Kong Securities and Futures Commission changing its previous "opt-in" approach
...on of a regulatory entities. Many regulators around the world are still assessing whether and how they should regulate the cryptocurrency industry, and the investor protection and preventing money laundering are particular concerns. The proposed legislation covers aspects like custody, know-your-customer requirements, anti-money laundering rules, and market manipulation, some of the key concer...
Path: BlogNew requirements for Lithuania and UK EMIs
...ed 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 being re-examined. As a result, new legislation changes and implications which up to now have not been feasible, have appeared and caused many EMIs in regulatory uncertainty. 6 AMLD, ...
Path: BlogEU and US propose legislative changes regarding digital asset industries
...tates (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 stablecoins) that is in line with Europe’s Ma...
Path: BlogGermany Introduces Draft Bill on Blockchain-Based Digital Securities
...s in Germany states that financial instruments that are classified as securities must be secured in a document. Therefore, blockchain technology could help to guarantee liquidity by providing a digital replacement for paper certificates. Proposed legislation also brings clarity on regulations of digital securities. Particulary, a summary of the draft bill states that new regulations differentia...
Path: BlogAlbania is preparing a legal framework for virtual assets
...plement 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 against 16 with only 3 in absentia. The country...
Path: BlogEstonian government tightens up licensing requirements for cryptocurrency companies
**New changes to a local crypto legislation were introduced by Estonian Ministry of Finance.** According to the updated rules the processing time of applications changed from 30 to 90 days along with a mandatory registration of a company or its branch in Estonia. Among other crucial changes the cost of the license was increased almost 10 times, to 3,330 euros. Due to new regulations introdu...
Path: BlogHow did Brexit Affect Gibraltar Jurisdiction?
...ies confirmed that all legal and technical standards of the collaboration would be updated and changed according to the new rules. Formalization of Brexit will not affect Gibraltar’s access to the UK market and the only issue to decide will be the legislation and contracts between the two counterparties. Considering this statement, **Offshorelicense Ltd** can confirm that your business in bot...
Path: BlogVirtual currency draft bill in Gibraltar
...e Gibraltar Financial Services Commission is the main governmental body that deals with the financial services regulation. Virtual currencies, including tokens and coins, are going to be the subject of regulation after the adoption of abovementioned legislation. It is expected to be considered by the Parliament and to come into force in the second half of 2018. How will Gibraltar treat **virtua...
Path: BlogSwitzerland puts a hand over supervising ICOs
...ority (FINMA). Many Swiss startups has now decided to announce ICO as acceptable since it is easier than attracting investors as it was 5 - 10 years ago. From now on, FINMA will analyze every case and apply appropriate and corresponding financial legislation for each case. A very important part of this announcement is that Europe began embracing cryptocurrencies and other new technologies. I...
Path: BlogWhy Moving Your Business Offshore Sounds Reasonable
...t for both, young entrepreneurs who want to start smoothly as well as for experienced businesses eager to improve too thanks to the low tax rates in offshore jurisdictions. Unquestionably, you still have to legalize your business, act under specific legislation and in accordance to the local law. [ legislation** obliges financial institutions to follow rules of the US Financial Account Tax Compliance Act (FATCA) and the OECD's Common Reporting Standard (CRS) in regards to sharing all relevant information with the international tax authorities. In February 2018, the British Virgin Islands International Tax Authority issued a reminder for companies who a...
Path: BlogVirtual Currencies’ Control in Singapore
...any international documents also have requirements for the counter-financing of terrorism and anti-money laundering policies. This puts financial regulators in the position where they should decide whether **digital currencies** are according to the legislation or they should be banned. An important statement was issued by the Deputy Prime Minister of **Singapore**. He claimed that in the matte...
Path: BlogNew tax relief measures in Hong Kong budget
...tax, profit tax and tax under the personal assessment. More than 2 million taxpayers might have their tax reduced by 75 percent for the year of assessment 2017-2018. • Tax refunds will also take place this year. If you overpaid taxes due to the legislation delay, you can expect a refund. This will not concern the property tax, however, the rental income can be refunded in case it is eligible ...
Path: BlogChinese court: bitcoin is a property with "economic value" and must be protected by law
...s a confirmation of its position the court disregarded all points put forth by the defendant, stating the return of cryptocurrencies is a contractual obligation not governed by the central bank’s dictum. Notable, the court accented that no Chinese legislation restricts ownership of bitcoin or other cryptocurrency and linked transaction between two parties. The Shenzhen court is well known an...
Path: BlogLuxembourg has just passed the law providing a legal framework for blockchain securities
Luxembourg is among the most forward-thinking countries from the point of blockchain legislation implementation. At the moment, the country has taken a significant step forward in providing transparency and legal definiteness concerning the distribution of securities by means of blockchain technology. As was stated in a notice, published Thursday last week, the country’s Chamber of Deputies ...
Path: BlogGood times are over. Russian owned Cyprus companies will have to prove their real economic activities within the country.
...this will not be able to perform money transfers to their Cyprus companies. On the other hand, for Cyprus, the above-mentioned changes will be another measure to improve the situation of the country in terms of international anti-money laundering legislation. It should be also noted, that apart from Cyprus, **Russia plans to apply MLI to amend agreements with another 71 countries**. Read ...
Path: BlogMalaysia is planning to regulate initial coin offerings as securities offerings
We hasten to inform that **Malaysia’s SC (Securities Commission) recently has commenced regulation of ICOs and crypto exchanges**. New legislation (Capital Markets and Services Order) entered into force on Tuesday, January 15. The new prescription order means that ICOs and exchanges would require additional confirmation from the SC prior to commencement of operations and would have to compl...
Path: BlogPost-Brexit UK markets access for Gibraltar
... In addition, in the next two years, **Gibraltar and the UK pledged to work together on development and implementation of the newest legal regulations** of such business. This means that the mentioned above companies will have the most up-to-date legislation on information policy, transparency and confidentiality. This decision will likely result in business growth in mentioned sectors: online ...
Path: BlogThe main benefits of Cyprus formation
**Cyprus is one of the top-rated countries in Europe for registering companies including registration for offshore purposes. A compound of reasons, such as the advantageous tax legislation, classic corporate law and the country’s consistent tax policies make Cyprus a very attractive jurisdiction.** Cyprus has a powerful and advanced legal regulatory system and, as a former British colony, it...
Path: BlogFive reasons why you should incorporate Delaware LLC
...laware. Incorporating in Delaware holds many advantages, here are the most notable ones: 1. INTERNATIONAL REGULATIONS The Delaware General Corporation Law, even on international scale, is thought to be one of the most progressive corporate legislation document. Along with being corporate-friendly and business-accustomed, it continues to be relevant thanks to regular law updates. Stabilit...
Path: BlogTop 5 crypto-friendly jurisdictions
...rt of the United Kingdom, but has a great number of economic and political freedoms. Gibraltar is actively using its status in order to become the greatest blockchain hub in the Mediterranean. The main purpose here is to help with crypto-friendly legislation. During the past year, Gibraltar created a license for FinTech companies to attract blockchain start-ups. But it didn’t stop there, and ...
Path: BlogCoinbase starting over-the-counter crypto trading for institutional investors
...m, as well as initiating more order books options, including web interface, Skype, Bloomberg IB, email, or phone. On June 6 of this year, Coinbase initiated the application process to become a fully regulated broker dealer in accordance with U.S. legislation. They have taken these measures in order to able to offer more crypto-related services such as OTC, margin, crypto trading, and new market...
Path: BlogShanghai International Money Fair Expo
...Nowadays we are developing a new product line that is even more efficient, covers greater amount of clients’ requests and serves the top of their interests. As we are trying to keep up with the times, we constantly track all the industry changes, legislation amendments and technology development. The last year also gave us a chance to analyze and develop an optimal work scheme that allows us t...
Path: BlogCayman Investment Funds
...apital gains, income, profits, corporation or withholding taxes neither on the investment fund nor its investors. It is essential for investors in the Cayman Islands business, prior to making an investment, to seek advice on the applicable taxes and legislation of the countries where they are tax residents. In this case Offshorelicense will become your reliable advisor and help to choose the most ...
Path: BlogWill Bahamas be removed from the EU tax blacklist?
...tion ended up in the list too. The deadline for implementing all changes is set to December of 2018. Taking into consideration abovementioned, Bahamas will become highly competitive tax jurisdiction de jure only in case they manage to adapt local legislation to new requirements by the stipulated date. This jurisdiction will comply with minimum requirements of the OECD's Base Erosion and Profit ...
Path: BlogMauritius Global Business Category 1 (GBC1)
...or tax purposes, to be resident in Mauritius. A business unit retaining a GBC1 license are able to participate any activity starting from simple investment holding, fund management, insurance to other non-banking financial services. Recently the legislation of Mauritius was amended. In accordance with the last changes in Mauritius, a GBC1 formation are able to deal with Mauritian citizens in c...
Path: BlogThe new anti-money laundering law of the Island of Man
...nter and the new law will help to preserve its respectful status. The IOM Government stated that the new law will enhance its anti-money laundering and countering the financing of terrorism (AML/CTF) regime. It is also worth noting, that the new legislation is prepared in accordance with recommendations made by the Council of Europe's Committee of AML/CTF experts, generally known as **MONEYVAL...
Path: BlogTwo more opponents of the UK policy regarding public registers
...s plans to enforce public registers listing details of beneficial ownerships of companies registered in the jurisdictions**. Both, the BVI and the Cayman Islands, have announced their intention to oppose the Westminster’s planned changes to the legislation, known as the **Sanctions and Anti-Money Laundering Act**, which received Royal Assent at the end of April this year. The altered law ...
Path: BlogGaming Bill in Malta. One gaming law for all.
...dustry in Malta is growing with a double-digit growth rate** since 2015. After implementation of the new bill, an additional four percent growth is anticipated for the industry. The Gaming Bill will increase flexibility and effectiveness of existing legislation and add more stability to it. Also, safety is one of the most important aspects of the new regulation. In gaming industry, keeping busines...
Path: BlogUsage of artificial intelligence for financial institutions in Singapore
...atives have different points of view on regulating AI in legal scope, users of the financial services need to know more about their privacy. This is why we will stay on top of the situation as it unfolds to let you know about the **latest updates of legislation of popular jurisdictions**.
Path: BlogBahamas issued guidance related to financial crimes prevention
...loads/public/5b9/7ad/238/5b97ad238dede764019005.png)](http://www.offshorelicense.com/licensing/bahamas-dealing-securities-license){._blank} Stay tuned with **Offshorelicense LTD** to be informed of all legal news in relation to offshore and onshore legislation changes. We will do our best and help in all your business endeavors.
Path: BlogVanuatu Audit Services
... Statutory audit of annual or interim financial statements in accordance with local statutory requirements and International Financial Reporting Standards (IFRS) under ISA; Audit of consolidated financial statements in accordance with applicable legislation and corporate reporting requirements; Review of interim financial statements.
Path: AccountingBulgaria Accounting Services
...tial online accounting services. Trusting us with the numbers will give you more free time to grow your business. Offshorelicense Accounting team would ensure both that you meet your reporting requirements and that you are compliant with the local legislation. As a company that is active in Bulgaria, you would also seek an assistance in tax declaration and annual report preparation and submissio...
Path: AccountingCyprus Accounting Services
...m provides both full and partial online accounting services. Trusting us with the numbers will give you more free time to grow your business. We would ensure both that you meet your reporting requirements and that you are compliant with the local legislation. Accounting services provided by Offshorelicense Accounting team also include: Preparation of financial reports; Creat...
Path: AccountingCyprus Audit Services
... Statutory audit of annual or interim financial statements in accordance with local statutory requirements and International Financial Reporting Standards (IFRS) under ISA; Audit of consolidated financial statements in accordance with applicable legislation and corporate reporting requirements; Review of interim financial statements.
Path: AccountingGibraltar Accounting Services
...artial online accounting services. Trusting us with the numbers will give you more free time to grow your business. Offshorelicense Accounting team would ensure both that you meet your reporting requirements and that you are compliant with the local legislation. The companies in Gibraltar, you may encounter the following deadlines: Income Tax and Social Insurance must be de...
Path: AccountingNetherlands Accounting Services
...line accounting services. Trusting us with the numbers will give you more free time to grow your business. Offshorelicense Accounting team would ensure both that you meet your reporting requirements and that you are compliant with the local legislation. Accounting services provided by Offshorelicense Accounting team also include: Preparation of financial reports; Creat...
Path: AccountingHong Kong Audit Services
... Statutory audit of annual or interim financial statements in accordance with local statutory requirements and International Financial Reporting Standards (IFRS) under ISA; Audit of consolidated financial statements in accordance with applicable legislation and corporate reporting requirements; Review of interim financial statements.
Path: AccountingVanuatu Accounting Services
...ial online accounting services. Trusting us with the numbers will give you more free time to grow your business. Offshorelicense Accounting team would ensure both that you meet your reporting requirements and that you are compliant with the local legislation. Other Accounting services provided by Offshorelicense Accounting team also include: Preparation of quarterly, monthly a...
Path: AccountingLabuan Accounting Services
...artial online accounting services. Trusting us with the numbers will give you more free time to grow your business. Offshorelicense Accounting team would ensure both that you meet your reporting requirements and that you are compliant with the local legislation. Other Accounting services provided by Offshorelicense Accounting team also include: Preparation of monthly, half-yearly...
Path: AccountingHong Kong Accounting Services
...artial online accounting services. Trusting us with the numbers will give you more free time to grow your business. Offshorelicense Accounting team would ensure both that you meet your reporting requirements and that you are compliant with the local legislation. Other Accounting services provided by Offshorelicense Accounting team also include: Preparation of financial reports; ...
Path: AccountingUnited Kingdom Accounting Services
...partial online accounting services. Trusting us with the numbers will give you more free time to grow your business. Offshorelicense Accounting team would ensue both that you meet your reporting requirements and that you are compliant with the local legislation. Depending on your company type, you most likely should submit at least one of these reports to either Companies House or HM R...
Path: AccountingBulgaria Audit Services
... Statutory audit of annual or interim financial statements in accordance with local statutory requirements and International Financial Reporting Standards (IFRS) under ISA; Audit of consolidated financial statements in accordance with applicable legislation and corporate reporting requirements; Review of interim financial statements.
Path: AccountingNetherlands Audit Services
... Statutory audit of annual or interim financial statements in accordance with local statutory requirements and International Financial Reporting Standards (IFRS) under ISA; Audit of consolidated financial statements in accordance with applicable legislation and corporate reporting requirements; Review of interim financial statements.
Path: AccountingLabuan Audit Services
...financial statements in accordance with local statutory requirements and International Financial Reporting Standards (IFRS) under ISA (International Standards on Accounting); Audit of consolidated financial statements in accordance with applicable legislation and corporate reporting requirements; Review of interim financial statements.
Path: AccountingMauritius Audit Services
... Statutory audit of annual or interim financial statements in accordance with local statutory requirements and International Financial Reporting Standards (IFRS) under ISA Audit of consolidated financial statements in accordance with applicable legislation and corporate reporting requirements Review of interim financial statements Requirements and pricing If you ar...
Path: AccountingMauritius Accounting Services
...usting the team of Offshorelicense with the numbers will give you more free time to grow your business. Offshorelicense Accounting team would ensure both that you meet your reporting requirements and that you are compliant with the local legislation. Other Accounting services provided by Offshorelicense Accounting team also include: Preparation of quarterly, monthly a...
Path: AccountingComoros International Brokerage and Clearing House License
...t of filing annual report Secretary - Required Registered office – not requiredIn order to obtain a license, the following steps will be carried out: • Collection and review of documents in accordance with the legislation requirements • Incorporation of the company • License application with the Regulator • Copy and ID • Proof of add...
Path: LicensingLocal Design registration
... Filing an application for obtaining a local design protection on the basis of POA. *You may be required to appoint a mandatory agent for representation services during the process of registration of an industrial design depending on the local legislation, the fee is not included. *The total cost may vary since prices depend on the origin of the local company, number of states where you s...
Path: LicensingMarshall Islands International Business Company Formation
...mately midway between Hawaii and Australia in North Pacific Ocean. The state has modern and stable business environment with flexible jurisdiction and is politically stable. The currency is US dollar and preferred language of corporate documents and legislation is English. The Business Corporation Act (BCA) that is part of Associations of the Republic of the Marshall is governing law for RMI co...
Path: CompaniesBermuda Digital Asset license
...o extend the specified period. The Class F - is a full license not subject to any specified period, although it may still be subject to restrictions the BMA may deem appropriate in any given case. Given that DABA is still relatively new legislation, it is prudent to meet with the BMA to discuss the proposed application. While the BMA will not give any confirmations prior to submission...
Path: LicensingAndorra Limited Liability Company (SL) Formation
...y Preparation of required due diligence Initiation of incorporation process after the preferred company name is approved to be available Preparation of application for bank account opening in any chosen local bank, which is mandatory under the legislation of Andorra for depositing share capital Companies carrying on trading, industrial or service activity must be entered in the Registry of...
Path: CompaniesCzech Republic Limited Liability Company Formation (s.r.o)
...public are liable to corporate income tax. It is payable on worldwide taxable income and capital gains. The tax base is calculated from the accounting profit/loss shown on the relevant financial statements, prepared according to the Czech accounting legislation. A corporate income tax rate is 19%. A corporate income tax rate of 5% applies to investment funds, unit funds and pension funds. Czech le...
Path: CompaniesVanuatu International Business Company Formation
...g. International companies are widely used vehicles for holding various investments such as property, shares, patents, etc. and can also be useful in operating trading businesses. Both their tax free status and the secrecy provisions embodied in the legislation, makes this type of company attractive to individuals and established companies alike.General information Company structure Only ...
Path: CompaniesBelize International Business Company Formation
...intellectual property, licensing and franchising along with many other activities. It all depends on your initiative, with very few restrictions. A Belize IBC is formed under the Belize International Business Companies Act. This piece of legislation was initially adopted in 1990 and further extended and amended in 2000. Belize IBC Act is considered internationally as one of the most mo...
Path: CompaniesBritish Virgin Islands International Business Company Formation
...ncial centres wh ere approximately 41% of the world's offshore companies have been formed in the BVI. On January 1, 2005, a new version of the BVI Business Companies Act was adopted, implementing further improvements in the BVI offshore corporate legislation which is already considered to be favourable. The new BVI Business Companies Act removes any distinctions between the companies operating ...
Path: CompaniesUnited Kingdom Limited Liability Partnership Formation
...een as a hybrid between limited liability companies and traditional partnerships, in that it offers the limited liability available to limited company shareholders combined with the tax regime and flexibility available to partnerships. Prior to this legislation, it was only a Private or Public Limited company that offered all of its members limited liability. The key advantage of a LLP compared wi...
Path: CompaniesEstonia Private Limited Liability Company (Osaühing or OÜ) Formation
...e full package of incorporation documents and sending it to the client for approval and signing; Filing the documents to the Commercial Register on client’s behalf; Covering state fees. Opening the bank account Estonian legislation allows to open account in any foreign jurisdiction. We can assist you with the opening of bank account in any chosen jurisdiction among th...
Path: CompaniesSaint Kitts and Nevis Limited Liability Company (LLC) Formation
...rame: 2 weeks Minimum capital requirement: $1 USD Overview St. Kitts and Nevis is an independent sovereignty and not a crown dependent, such as the Channel Islands. Saint Kitts and Nevis gives a wide range of enabling legislation which makes it possible to create and register offshore entities and companies. The St.Kitts and Nevis legislative framework enables effic...
Path: CompaniesLimited Liability Company in Lithuania
...nd eastern Europe, and is the largest of the 3 Baltic States.Incorporation: 3 working days + delivery time for the courier Minimum shared capital: EUR 2500 Overview Modern financial infrastructure and favorable legislation makes Lithuania one of the most attractive places to investment managers targeting single European financial market. Lithuania has bene...
Path: CompaniesSwitzerland Crypto License
...he public Directors' details – Details of directors are publicly disclosed Taxation Corporate income tax is imposed at both federal, communal and cantonal levels. The Federal effective tax rate is 7.83%. Each canton has its own tax legislation and levies cantonal and communal income and capital taxes at different rates. The combined effective tax rate is between 11.5% and 24.2%, ...
Path: LicensingLPB Bank Account Opening
...errorism financing. That is why the Bank, on a regular basis, carries out measures to prevent money-laundering and terrorism financing in order to ensure that Customer account operations are in compliance with the requirements of Latvian legislation and the international standards in this area. LPB Bank was founded in 2008.Payment processing options MasterCard N.B. ...
Path: BanksLPB Bank Account Opening
...errorism financing. That is why the Bank, on a regular basis, carries out measures to prevent money-laundering and terrorism financing in order to ensure that Customer account operations are in compliance with the requirements of Latvian legislation and the international standards in this area. LPB Bank was founded in 2008.Payment processing options MasterCard Restric...
Path: BanksBelize Forex License
...of time, Belize Forex License can be obtained comparatively quick. Moreover, Belize enjoys good reputation in the sphere of financial services and is widely known to international banks and payment providers. Belize has even implemented licensing legislation that is particularly focused on forex trading companies. Provision of such services is regulated by International Financial Services Commi...
Path: LicensingHong Kong Type 9 (Asset Management) License
... Hong Kong imposes no restrictions on foreign investments and has no foreign exchange controls Ease of business establishment and licensing Favourable tax regime Conducive regulatory environment with formidable anti-money-laundering legislation Company meetings need not be held in Hong Kong An annual general meeting (AGM) must be held once in every calendar year and not more t...
Path: LicensingEstonia Crypto License
...me: 6 - 8 months Minimum paid up capital: The minimum share capital required for a Virtual Asset Service Provider (VASP) license is EUR 250,000. Overview Estonia is known as a "cryptocurrency haven" due to its progressive legislation and favorable environment for virtual currency activities. As the first EU country to regulate cryptocurrency companies, Estonia has attra...
Path: LicensingFiji Foreign Exchange Dealer License
...ry Secretary - Required Registered office - Local office setup not needed. In order to obtain a license, the following steps will be carried out: • Collection and review of documents in accordance with the legislation requirements • Incorporation of the company • License application with the Regulator• Passport scan • Proof of address ...
Path: LicensingCayman Islands Securities Investment Fund License
...ommercial matters, given the institutional and sophisticated nature of the investors in Cayman funds. Also, there are no prohibitive licensing and regulatory provisions or stringent measures calling for local custodians, managers or directors as the legislation recognizes that most service providers engaged in the industry are already regulated or controlled in their home jurisdiction. Be...
Path: LicensingUnited Arab Emirates Accounting Services
...ndergone a rapid development and is currently known as a modern trade hub.Description The residents of the United Arab Emirates had long enjoyed a tax-free and heavily subsidized existence. However, recently the country imposed a new tax legislation. Now the companies in the UAE and all its 7 emirates have to consider VAT payments in their daily operations. Moreover, the companies need...
Path: Accounting