The President of the People’s Republic of China and the People's Bank of China announced their intentions to open up China’s financial markets to promote foreign competition. For now, foreign ownership is limited for banks and asset management companies. Within a few months **the foreign ownership cap will be removed**. These changes will open the market to foreign investors and banks, givin...
Path: BlogRecently, the official delegation of **Seychelles** visited Mauritius to discuss matters of becoming 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...
Path: Blog...ets and improve business credibility**. Highly professional assistance is provided until the license is granted and after, in order to assure the stability of your business. Our turn-key business solutions also include accounting, audit and other financial services that may be required for client to sustain the business and stay compliant with local and international laws. Year by year, Chin...
Path: Blog... collection, analytics and use guidance will be available too. Responsible and ethical use of artificial intelligence will be the key points of this document. It will also extend to every step of AI usage and will be useful for companies with any of financial services specializations. What other countries have also decided to adopt rules of AI usage? The Hong Kong Securities and Futures Commiss...
Path: BlogThe financial services Board of South Africa (FSB) является надзорным органом индустрии финансовых услуг в Южной Африке в соответствии с Законом о финансовых консультационных и посреднических услугах 2002 года (FAIS). Компания, которая хочет в�...
Path: Licensing**Mauritius is one of the main International financial services Centre** which grants two most common forms of business to international clients, specifically the Category One Global Business companies and the Category Two Global Business companies. The choice among the above-mentioned companies will depend on a number of reasons, some of which being the planned activities and the location of op...
Path: Blog...rity level**. Originally developed for the digital currency, DLT technology is not restricted to it. Tech community is now finding out other potential uses for this technology. It has huge potential to be employed for a range of other purposes, from financial services – for instance, the settlement of financial transactions – to cross-border trades, public management, and even elections. Am...
Path: Blog...ategory** and noted the excessive volatility of cryptocurrency. Many activities relating to cryptocurrencies are not regulated. Investors in “Initial coin offerings” run the risk of losing all their financial assets without any recourse to the **financial services Compensation Scheme** (FSCS), warned Financial Conduct Authority (FCA) in September 2017. The report also refers to the reasons...
Path: Blog...ng population is a critical problem for the government authorities and where financial culture is at a high level. We all have repeatedly faced different prohibitions and restrictions regarding the minimum age requirement to open an account with any financial services company, including a Forex brokerage, hardly anyone dares to discuss the upper age restriction when it comes to trading or investme...
Path: Blog...se actions are valid for a limited liability partnership (LLP). LLP in Singapore is obliged to have at least one residing manager. Choose the most suitable legal form thoroughly and before starting a new legal entity choose a professional lawyer, financial services in Singapore, tax consultant and analyze other possibilities for your business. Singapore is a good jurisdiction to choose, but it ...
Path: Blog...e chain. Progressive states, such as Malta, are keeping up with the times and trying to integrate new technologies to simplify their functioning. There is a huge potential to use blockchain for different purposes, such as conclusion of contracts, financial services, settlement of financial trades, public administration etc. Establishment of the **Malta Digital Innovation Authority** (MDIA) i...
Path: Blog... moved 22 places up. **GFCI is a ranking that is very important** for offshore jurisdictions. It functions since 2007 and more than 15,000 professional respondents have taken part in the analysis. This is why participating in GFCI means a lot for financial services centers.
Path: Blog... authority is performing investments on behalf of the emirate. Lately, Sheikh Hamed bin Zayed Al Nahyan, the Fund’s Managing Director, announced that the authority is going to enter the Abu Dhabi Global Market (ADGM). **The ADGM is the low-tax financial services hub in Abu Dhabi**. In the UAE this hub is the leading financial center and it creates and implements major financial trends for th...
Path: Blog**The British Virgin Islands are now discussing implementation of new rules for beneficial owners**. It is a problem of particular interest due to growing number of Asian beneficial owners of BVI companies. **BVI House Asia**, financial services promotion agency, organized a seminar in Hong Kong to discuss and inform Asian entrepreneurs about newest regulations. Abovementioned regulations are...
Path: BlogRecently, Jersey started to implement **international anti-money laundering and counter-financing of the terrorism standards**. Due to this, the **Jersey financial services Commission** initiated the first stage of the review and assessment process. Risk assessment will be based on collection and analysis of data from the licensees. How are the collection and analysis conducted? First of a...
Path: Blog...in Forex license (Dealer’s in Securities license), however, due to the changes occurred in mid-June 2017, the bond deposit requirements increased from $2.000 USD to $50.000 USD, thus making the jurisdiction not as attractive anymore. Also, Vanuatu financial services Commission (VFSC) has requested all companies to pay renewal fees irrespectively of the incorporation date, meaning that companies ...
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: Blog...*Hong Kong** were the first ones to enter into an official agreement regarding the development of this sector, thus making this day especially remarkable for the whole Fintech community. Responsible regulators of both jurisdictions, The Gibraltar financial services Commission and the Hong Kong Insurance Authority, officially pledged to cooperate and share information, experience and developing ...
Path: Blog...he UK and Gibraltar after the **UK announced Brexit**. Lately, Gibraltar faced problems due to the EU plans on its territory and is still negotiating best terms for staying on the market. Today we brought good news for the companies that provide financial services and online gaming businesses. These companies are guaranteed will have full access to the UK markets until 2020. This resolution wa...
Path: Blog...e to the fact that dozens of businesses in their activities use virtual technologies and, as a result, virtual currencies. **Gibraltar** is the jurisdiction that, along with the others, starts adding DLT to its scope of regulation. The Gibraltar financial services Commission is the main governmental body that deals with the financial services regulation. Virtual currencies, including tokens an...
Path: BlogThe New Year has already brought the new regulations and rules in the international business world. We decided to start from the new rules in **Gibraltar**. The main financial regulator of this country, Gibraltar financial services Commission, announced new obligation for the companies using distributed ledger technology for storing or transferring values that belong to others. Currently, **...
Path: Blog...y to access due to the Great Firewall of China. However, many residents were eager to use offshore services as well as FX and brokerage services had a place on the market. This place was not the dominant one, but at the same time, audience that used financial services from across the border was stable and solvent. Latest **changes to the Forex and CFDs market** are most likely due to changes in...
Path: Blog...nd other. The main aim of the government authorities is to keep the “Great Firewall” safe and minimize foreign influence on the country. “Internet service exchange finance” platforms are considered as risky 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 introduci...
Path: Blog...ector. Business in Gibraltar will be able to use a new distributed ledger technology. For an **offshore jurisdiction**, this ability opens many doors as it will create a new way to store or transfer values belonging to others. A representative of financial services promotion agency of Gibraltar, Albert Isola himself and other representatives of business and regulators have also performed a numb...
Path: Blog...incomes? We are sure it is not. FBI started an investigation and St. Vincent had to justify itself. It is important to mention that this territory has such authorities as the National Anti-Money Laundering Committee, Finance Intelligence Unit and financial services Authority. They issued a joint statement with the official position that considers accusations as inaccurate and erroneous. They al...
Path: Blog... as another common reason to enter Vanuatu offshore jurisdiction. Confidentiality policy in this country is very strict and this means that trading is secure there. Obtaining a license is also a simple process in Vanuatu: you need to apply to the financial services Commission which makes decision on issuing license. Operating without licensing is illegal so it is not a good idea to start tradin...
Path: Blog... for business it is important to analyze the whole sector of needed jurisdiction. In Saint Vincent and the Grenadines, a special regulatory body controls and examines all banks. When registering a company in St. Vincent you can feel safe because the financial services Authority guarantees there are no shell banks and the ones who conduct illegal activities. Opening a bank account is also a simple...
Path: Blog...�ью освобождается от других местных налогов, при условии, что она не осуществляет свою деловую деятельность на территории Лабуана. Labuan financial services Authority (FSA) является местным финансовым регулятором, который устанавлива�...
Path: Licensing...�тролируемых компетентным регулирующим органом Любого учреждения, лицензированного в соответствии с Законом о финансовых услугах 2013 (financial services Act 2013) с предварительным одобрением от банка Negara Malaysia Корпораций, облад...
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