...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: Blog...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: Blog...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. [ 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: Blog...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: Blog...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: Blog...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: Blog...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: Blog... 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: Blog...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: Blog... and profitable: to move the entire company or to divide it into a couple of branches? Sometimes 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 an...
Path: Blog**The British Virgin Islands (BVI) 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: Blog...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: Blog...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: Blog...ns will change in this region? We will analyze the newest tendencies and explain how business will develop in **LatAm** and the **Caribbean**. The reputation is a crucial factor for **international business jurisdictions**, therefore implementing legislation that prevents money laundering and tax evasion, is a paramount for the governments. During the seminar that was dedicated to the anniversa...
Path: Blog...s community challenged Bermuda in various matters. First, Caribbean Financial Action Task Force assessment of Bermuda's anti-money laundering and countering the financing of terrorism regime is an initiative Bermuda is currently working on. Changing legislation for the matters of anti-money laundering and counter the financing of terrorism is crucial for the reputation worldwide. Moreover, the EU ...
Path: Blog... 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: Blog...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: Blog...sonably good place for the international business. However, it still needs to improve action standards with the BEPS Action 5. It is the latest standard of the OECD that should be followed by members of the BEPS Inclusive Framework. Adapting tax legislation to the **new rules** is supposed to start at the earlier convenience since the regime is aligned with these standards and is recognized as...
Path: Blog...onal investigations and fought against the money laundering, the financing of terrorism, 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 an...
Path: Blog...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: Blog...e 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. The EU considered that drawing corporations to your country is an improper action for the Union member. Apple, as the company with the...
Path: Blog...d knows, that executives are sometimes struggling to choose 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 t...
Path: Blog...nalyzed deeper. Let us look at the different reasons to choose Cyprus as an offshore country. Basically, the biggest advantage of Cyprus is exactly its tax policy. It has become most popular after 2004th, when it joined the EU. After changing tax legislation, Cyprus became a country which is located the nearest from the Europe and, at the same time, has the lowest tax rates, especially for corp...
Path: Blog...sdiction and if you need to pay more than company earns – it is not reasonable. Legal part 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 offsho...
Path: Blog...idual taxes are balanced specially for this 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 sa...
Path: Blog... in many wide-known offshore jurisdictions. Benefits of choosing Vanuatu as your offshore jurisdiction are mostly about simplicity and favorable climate for business. For example, all international businesses in Vanuatu are regulated by only two legislation acts, both from 1900th. Main advantages of these laws are confidentiality and support of international business initiatives. They make Van...
Path: BlogWhen starting a business, you should consider Scotland as an interesting option. This is the part of United Kingdom and its business legislation and other conditions are favorable for starting up a company in Scotland. Main legal act that governs all Limited Partnerships in Scotland is a 1907 document that is still topical and useful for business. Setting up a company in Scotland is much cheape...
Path: Blog...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...
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