**Switzerland plans to amend its anti-money laundering law** and, once these changes come into force, the financial intermediary will be required to verify information on beneficial owners. The national authorities of Switzerland have been taking various measures in combating the illegitimate funds, amid intense global pressure from various countries and actively discussed the proposed amendment...
Path: BlogIn October 2016 came into effect revised Four laws in China that were promulgated and amended by National People’s Congress (NPC)to attract and encourage inbound foreign investments. Year by year, China keeps opening-up to the outside world and OFFSHORELICENSE keeps track of global trends observing the substantial moves of this important player on the international stage. This time to attract...
Path: Blog...onomy, 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 Parliament promises to adopt the **Gaming Bill** – a newly developed...
Path: Blog**Government of the Isle of Man recently announced that Royal Assent was granted to the Anti-Money Laundering and Other Financial Crime Act 2018.** This actually means that it is an official AML/CFT law from now on. This was an expected development in mind of the recent trend of updates in the field of Anti-Money Laundering law. The Isle of Man is a well-regulated and developed international...
Path: BlogFinancial sector business in the **Cayman Islands** is regulated by the Cayman Islands Monetary Authority (CIMA). Also, after the Revision of the Mutual Funds law in 2015, the regulator on a yearly basis releases digests on the funds industry. The latest one was issued on December 29 revealing the data for 2016. This year has mostly showed a decrease in number of registered funds except for M...
Path: Blog... 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. [](http://offsh...
Path: Blog...times it is a good idea to use advantages of different jurisdictions for your business.Before moving to a foreign jurisdiction, it is important to analyze its legislation.The most significant aspects for you to acknowledge are taxation and corporate laws. In addition, think about establishing an office and creating a stable customer care system. If you do not feel sure and comfortable doing it ...
Path: Blog... the most unlike outcomes for Gibraltar. The official government position implies this agreement is an affront, which **Gibraltar** never deserved. After the agreement release, Gibraltar’s government also declared plans to consult with the UK lawyers and, later, urge the UK government to include Gibraltar in any post-Brexit transition agreements. Considering the fact that the UK Parliament ...
Path: BlogRecently, **three new securities policies were announced** by the Securities Commission of Bahamas (SCB) which will affect different aspects of securities laws. The following documents were published on the Commission official website: (i) **Due Diligence Refresher Policy**; (ii) **Reclassification and Downgrade of an Unrestricted Investment Fund Administrator License**; (iii) **Regulatory C...
Path: Blog... public authorities of Malta have a positive attitude towards the blockchain technology. **Malta government authorities intend to establish Malta as a center of “Blockchain industry”**, thereafter they have announced the following three draft laws: (I) the Malta Digital Innovation Authority Bill; (II) the Innovative Technology arrangements and Services Bill; and (III) the Virtual Financial ...
Path: Blog...r, 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, China keeps opening-up to the outside world and Offshorelicense Ltd keeps track of global trends observing the substantial move...
Path: Blog... all these 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,...
Path: Blog...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 would make publicly accessible registers of beneficial ownership compulsory for companies registered in British Overseas Territories. The above...
Path: Blog... electronic cash systems to be crypto. There’s also the possibility that all cryptocurrency prices will become stable over time as the market continues to mature. **Security** While fiat payment processors and businesses often have security flaws that lead to the loss of user funds and other issues, these incidents aren’t highlighted as much as large-scale cryptocurrency hacks. As we ...
Path: Blog...lly startups that perform their business activities in a way that is defying stereotypes of the conservative legal market. In this article we will discuss the last tendencies in the world of legal technologies. As you may know, a large number of lawyers were reluctant to use email even into the mid-2000s. Now, lawyers are keen on using the results of technological progress: automation tools wh...
Path: Blog...are found to secure important employees and customer relationships. Companies also try to prevent indirect and passive solicitation, which means a former employee who starts a business can't promote himself. Implementation of this demand might be unlawful, since it won’t allow a company to let anyone know of its existence. **What Makes a non-solicitation Agreement Enforceable?** Sometimes...
Path: Blog...orcement proceedings against envion AG.** After raising over $100 million from investors, envion AG’s ICO became the second major ICO that has sparked controversy in Switzerland. FINMA stated that **envion AG may have violated financial market law in relation to Initial Coin Offering** (ICO). Therefore, FINMA launched enforcement proceedings against envion AG. The proceedings focus in partic...
Path: Blog... key actions that you may want to take? Let’s start with the **demand letter**. Before you get sued, you will most likely receive a demand letter from the one complaining about your business and demanding action from your end. Consult with your lawyer on how to respond to it, as sometimes, the way you respond to a demand letter can already keep you from getting sued altogether. In case the ma...
Path: Blog...anagement, insurance, banking, investment advisory services, as an example, can only be created as GBC1 companies and receive extra licenses from the FSC wherever relevant. **GBC 1 formation having the highest level of confidentiality under local law and no information regarding its shareholding, accounts or other operations are publicly available.** GBC 1 company allow you to conduct Forex act...
Path: BlogUsing **virtual currencies** is now a common practice between business representatives. Breadth of choice in the field of financial instruments makes regulators think of more and more universal types of acts and laws. Many international documents also have requirements for the counter-financing of terrorism and anti-money laundering policies. This puts financial regulators in the position where...
Path: Blog...erritory added one more innovative process to the scope of its regulation. From the 1st of January 2018 ICOs (Initial Coin Offerings) are legitimate too. **Gibraltar has become the first jurisdiction where ICO is officially in compliance with the law**. Initial coin offering is a funding process based on the Blockchain. It has become unbelievably popular in 2017 and different countries already ...
Path: Blog... the new regulations and restrictions. Nevertheless, they already have the experience and are prepared for the unforeseen circumstances. According to the latest announcement, foreign trading platforms providing services to Chinese citizens are outlaw and they have to be shut down. On the contrary, the financial experts claim that this announcement is a fiction and has no real legal basis for no...
Path: Blog...entral Bank of Malaysia mentioned this at the Labuan Industry Annual Dinner. He is aware that now international taxation practices have to grow gradually to correlate with the OECD requirements. Nowadays, respectful offshore jurisdictions are not outlaw or above the law and never try to avoid taxation, do not exploit gaps in the legislation, don’t focus only on gaining profits but also to remain...
Path: Blog...cept for traditional IBCs, Belize is a jurisdiction where you can easily operate limited partnership, banking business, trust or mutual fund, international insurance company, online gaming, Belize shipping company and others. Everything is under the law and most types of offshore entrepreneurships are tax exempt. **What are basic advantages of starting a business in Belize?** Like another po...
Path: Blog...s’ meetings can be held all over the world but marketing office is limited to allowed cities. It is important to check the list before renting a suitable office. Good news is that when establishing company in Malaysia you can enjoy confidentiality laws that grant your information safety from public access. One more thing you need to consider when you establish company in Malaysia is that you ...
Path: Blog...ibbean Dollar to USD hasn’t changed since 1976. What are the other arguments in favor of setting up a company in St. Vincent and the Grenadines? Except of political and currency stability there are a couple more arguments. Package of financial laws that regulate St. Vincent company formation were enacted in 1990s and business in this country operates according to them. This law package is ai...
Path: Blog...te the company themselves or not. It is important to mention taxation rules when you are registering a company in Scotland. Limited partnerships allow you minimize taxes with a simple scheme. Limited partner in a Scotland company is subject to law profits and the general partner receives most gains. The secret is that general partner is a foreign person who is not a taxation subject accordin...
Path: Blog...s, perform management duties by themselves or appoint special workers, operate inside or outside the UK. All these features allow them to scale business in any ways they want. Main partnership members are also individually protected from the massive lawsuits that may arise regarding their business activity. This is why you, as an entrepreneur, should think about setting up your Limited Liability P...
Path: Blog...t operate only on international market, this offshore jurisdiction is a reasonable decision. For some business founders, it is a surprising fact that setting up company in Vanuatu will include possibility to receive professional financial, banking, law and other services. Main operating language is English and there is also a wide choice of professional employees who can work for your company. Mo...
Path: Blog... reason. Another point to consider when moving a business offshore, is safety and confidentiality of the country. Most popular jurisdictions have high level of asset protection and strong confidentiality legislation. Individuals who are afraid of lawsuits or other financial troubles can easily invest in company offshore. This can keep your assets safe and also help increase your income. Conf...
Path: Blog...also plays a big role in company formation. Comfortable offshore climate often depends on local regulations. Most considered branches are: asset protection legislation, confidentiality conditions, international business functioning rules, investment laws and taxes. Due to this, many worldwide-known offshore jurisdictions became popular: Cyprus, Switzerland, the UAE and other. Considering this poin...
Path: Blog...nts are accepted. You can protect everything that distinguishes you from competitors. Some companies even protect the sounds or colors that are special for their brand. Legal work is the most important part of protecting your brand. Even a single lawyer can help you with patent matters, controlling usage of your brand and dealing with other cases. Professional will file all documents to registe...
Path: Blog...ore their assets in a safe and reliable jurisdictions. Many companies from the Forbes TOP-100 list are using offshore plans to maximize their profit and legally keep their money.* However, it is not right to look only to big enterprises because the law is the same for smaller companies as well. Every entrepreneur can choose a suitable offshore plan to increase profit and reduce taxes. Sometimes l...
Path: Blog...is personal assets will be used to cover required debts. • Capital investments Limited financing is a common thing for startup businesses. Least expensive company structure is sole proprietorship. It does not require additional tax payments, lawyer fees to draft formation documents and, at the same time, is easy to establish. Sometimes it is a reasonable decision: to start from sole propri...
Path: Blog...n. And this brings us to the next advantage of the Cyprus as an offshore jurisdiction. First of all, Cyprus is a multilingual country and there is a strong community of professionals with whom you can communicate easily. Highly educated accountants, lawyers, bankers and other financial and legal specialists are ready to assist your business. Also, we help our customers find various platforms for h...
Path: Blog...e an offshore jurisdiction because they do not know what to consider first when moving. We chose 6 things that will help our customers decide whether they need to do business offshore. 1. Legislation and legal opportunities. Business regulation laws in domestic country sometimes are strict and oppressive for business. This means that there is a need for company founders to choose most advanta...
Path: Blog...tioning.* When you form or relocate your business to another country you can achieve a couple of very crucial goals. Sometimes legal or taxation climate in your country is not opportune for business matters. This does not mean you have to break the laws or do anything illegal. The main reason to move your business is to keep balance between your own profit and the others’. Also, having a foreig...
Path: Blog...ame as in the Cayman Islands. **Financial business** receives more freedom and ability to choose foreign partners that will be more reliable and at the same time the most beneficial to work with. The second innovation is The Foundation Companies law, which officially entered in force in October 2017. From now on, foundations will work in the same way as other companies, for example LLC’s. At...
Path: Blog...ber 5, and the International Consortium of Investigative Journalists reported its contents. **Offshore funds investment is not an illegal action** and it does not mean that the investor had done anything wrong. Unfortunately, some businessmen prefer law circumvention to avoid taxes. This makes everyone think that the offshore investments are something to judge for. It is not a big secret that t...
Path: Blog...re very sensitive and need to be individually selected. What can we learn from the 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....
Path: Blog...rorism, tax offences, and other financial crimes together with the international authorities. **Saint Vincent and the Grenadines is out of any sanction lists and its legislation complies with major international acts on financial crimes**. The US laws are considered to be the strictest in matters of transferring and storing money overseas, therefore the information in the media seems to be inco...
Path: Blog...thin the FCA’s regulatory boundaries depending on how they are structured, and it can only be decided case by case. Still, most Crypto Exchanges will fall outside the regulated area and will not involve any regulated investments under the relevant law. In other words, promoters involved in Crypto Exchanges are recommended to carefully consider whether their activities could mean they are arrangi...
Path: Licensing...� капитала N.B. Если документы не на английском языке, они должны сопровождаться нотариально заверенным переводом. Service agent is required by law to meet face-to-face with the client, when it is not possible – a letter will be sent to the address on the IDs via registered mail. FSA...
Path: Licensing...законодательную базу ЕС, однако затраты на оплату труда и налоговые расходы значительно ниже среднего показателя ЕС. Согласно Cyprus Companies law, все компании должны проверять и публиковать свою финансовую отчетность зареги...
Path: Accounting