Top Hong Kong trading companies informed their customers on upcoming changes of security and rules on **cyber risks**. These changes were released by the **Securities and Futures Commission (SFC)**. As of April 27th, 2018, **two-factor authentication will become obligatory for every company that provides trading services in Hong Kong**. Such brokers as Monex Boom, Z.com, Phillip Securities (H...
Path: Blog... are not obliged to be present there on a regular basis. Operating language in Belize is English due to the fact that it is a former UK colony. You also do not need to file financial reports as you are not obliged to pay internal taxes. **Trading rules in Belize offshore jurisdiction are also very close to standard.** You do not have right to do business with domestic companies: this trading...
Path: Blog...t is now in the middle of the **new taxation reform**. It is promised that after all tax amounts and procedures are stabilized, the system will show itself as a very effective one. As a result, there will be less loopholes, tax evasion will go down, rules for taxes and debts will be clearer. Currently, **Saint Vincent is already a business-friendly jurisdiction** and, after the Tax Administration ...
Path: Blog...l have some fee status for both countries. There should be mutual agreements concluded on such students rights. Second, according to the current reciprocal arrangement, sick people from Gibraltar can get elective treatment in the UK hospitals. These rules are valid and the citizens can use them freely to receive medical services. Cooperative work on environmental matters does not stop as well. ...
Path: BlogOn 13th of March the European Council released a decision where **Bahamas are listed among other jurisdictions with non-cooperative taxation rules**. The mentioned above list is a non-obligatory document, but, at the same time, an important guide which makes a huge impact for choosing contractors while doing business. This year, the US Virgin Islands, **Saint Kitts and Nevis were also listed ...
Path: Blog...e main objectives of the MGA will be: • Consulting and research for needs of the new consolidated law. • Development of the consumer-protection and safety provisions for the bill. • Development of standardized technical guidelines and rules for regulation subjects. • Conduct consultations on every step of the Gaming Bill development regarding its scope of work. The abovement...
Path: Blog...Jersey Financial Services Commission created a special FAQ section for industry representatives who have questions about the submission process. Obviously, these entities will need more time to stabilize the monitoring process and to get used to new rules but the Commission does its best to ease this transition. The first phase is set to be completed on April 25th. The questionnaires should be ...
Path: Blog...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 Commission (SFC) is on its way of developing recommendations as well. In their opinion, custom...
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: Blog...ur work and launching online gaming platform you are expected to check whether you need a specific license for your type of business. In case it is needed you shall obtain a respective license. Every jurisdiction functions with different licensing rules and it is rather complicated to check out all the necessary requirements and procedures before going for it. For example, to set up an online ga...
Path: Blog...cond half of 2018. How will Gibraltar treat **virtual currencies**? First, sale, distribution and promotion of any kinds of tokens and coins which use blockchain technology will be subjected to the regulation. Consequently, new acts will contain rules about investments, secondary market activities and probably investment funds holding digital assets. Narrowing this information, legal regula...
Path: Blog...C is more suitable for large business being that company’s shares are usual available to the general public and the number of shareholders is at a minimum of 50 people. Given that these types of companies involve the general public, there are more rules and regulations that prevent operation and the misuse of public funds. • Public Company Limited by Guarantee: Contrary to a Public Limited ...
Path: Blog...ays need to be in control. Sometimes they even cannot think about their main tasks being busy controlling everything else. This is when a lack of transparency strikes CEO’s. Professional accounting outsourcing companies have strict confidentiality rules as well as detailed information for entrepreneur. This means you are both able to rule the team easily and keep your company’s confidential in...
Path: Blog...off the said lists. **The government of Barbados continues to engage with the EU**, the OECD and their partners around the world, they do so with a firm determination that there must be consistency in setting requirement for, and application of, rules of transparency worldwide, emphasized Innis. Additionally, the International Business Minister contended that there is a need to strengthen ...
Path: Blog...l intermediaries** to verify information on beneficial owners and to perform regular check-ups and update of client data, the frequency and scope of reviews shall be based on the risk level of contracting party; and iii. The **introduction of new rules for associations** which are at risk of being misused for the financing of terrorism or money laundering. As of now, these associations also mus...
Path: Blog...r strengthen their AML/CFT regime.* **FATF has taken off Vanuatu from its Grey List, nevertheless, Vanuatu remains under requirement to maintain its implementation efforts and comply with FATF standards.** It is necessary for Vanuatu to obey FATF rules and any adverse changes to governmental AML&CTF policy would likely result in its returning to the FATF Grey List.
Path: BlogPedro Sánchez, Spain’s new prime minister, in his speech before parliament has promised to make **changes to the rules of corporate tax and establish a new minimum of an effective tax rate and increase public spending**. Mr. Sánchez stated that his government would seek to “redesign” corporate tax to ensure that **the effective rate of large corporations is close to the headline r...
Path: Blog...ive or new industries, will have an ongoing access to CySEC and to the regulatory body’s insights. By this, the regulator, presumably, means these entities will have a clearer understanding of how they should go about adhering to the regulator’s rules. Demetra Kalogerou, Chair of the CySEC, said: *“The establishment of the Innovation Hub marks an important and exciting step for CySEC�...
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... a “non-cooperative” tax jurisdiction. This means that **2018\19 plans are very challenging for the Bermuda government**. They will have to deal with potential economical threats, like the US lowering corporate taxes, as well as implementing new rules and bringing jurisdiction’s economy to a higher grade. Wondering where to relocate your business or how to start a new one? **Offsorelicens...
Path: Blog...ly foreigners but also Malaysia residents. Moreover, you have privileges to lower your social package payments and deal directly with employees unlike native employers. Domestic business company in Malaysia is required to follow a lot of unnecessary rules and you, using Malaysia offshore company advantages, can plan your expenses, develop business and function in the most effective way. Offshor...
Path: Blog...ds will now have a special technical solution to perform electronic deals and clear goods. This is a project of the Cayman Islands’ Customs Department and it is aimed at easing traders’ life and start reformation of the e-trading. New clearance rules are attractive for the new importers and facilitate trading for existing ones. Generally, new legislative initiatives in the Cayman Islands a...
Path: Blog...responsibilities, and are performing most operational actions. This diversity helps entrepreneurs choose the amount of their liabilities and decide on whether they want to operate 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 Scot...
Path: Blog...uits that may arise regarding their business activity. This is why you, as an entrepreneur, should think about setting up your Limited Liability Partnership. LLP as an organization is subject to corporate law and it needs to be established under the rules of the 200 Act. Let us describe how to incorporate LLP in legal way. First, you need to decide on main organizational matters. This includ...
Path: Blog...ages of an offshore jurisdiction.* For example, tax climate for IBCs is close to perfect. International business is exempt of local taxes, including sales, dividends, corporation and capital gains tax. Also, international currency exchange rate and rules are very favorable for business. Bahamian government supports international currency incomes and this means that procedure of moving in foreign ...
Path: Blog...aid of lawsuits or other financial troubles can easily invest in company offshore. This can keep your assets safe and also help increase your income. Confidentiality and secrecy laws are also crucial when investing offshore. Corporate and banking rules usually do not allow disclosing investor’s name or company which is he investing in. It means that high-level investors can be afraid of other...
Path: Blog...able. 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 offshore jurisdictions became popular: Cyprus, Switzerland, the UAE and other. Con...
Path: Blog.... This makes taxation policy of the UAE favorable for fresh business. There is a very important point to consider when forming your company in the United Arab Emirates. It consists of seven Emirates, which have different free trade areas, customs rules and investment climate. Different zones have different control authorities, trading requirements and documentation. You should perform a detaile...
Path: Blog...ioned treaty and non-treaty taxations for business that need to be taken into account when starting business offshore. Cyprus has an exceptional treaty network, which allows companies use it in its advantage. It also includes Permanent Establishment rules and provisions that are attractive and beneficial for business. Talking about banking system, Cyprus jurisdiction also is on a high level. Of...
Path: Blog...to choose your counterparty very carefully to know where the investment goes. We have to remind once more, that having an offshore investment is not a misuse of funds or improper action or the law breach. The main idea is to follow government’s rules and invest wisely. **Offshorelicense Ltd can easily help you with investment consultations on reliable jurisdictions, companies and other matter...
Path: Blog...is to create a unique space in Shanghai where international and Chinese companies will be able to function according to the international standards. The Chinese government claims that the FTZ will be mostly governed by the European standards and rules. Therefore, the climate for foreign investments and innovational companies will become more attractive. Also, the great news is that tech compan...
Path: BlogWhen **moving your business overseas**, it is very important to consider local rules, technical requirements and work facilities. For business in China, these features also include choosing a **payment system** suitable exactly for you. AliPay, WeChatPay and UnionPay are the biggest and the most popular payment solutions for the Chinese companies. Their technical features and scope of work a...
Path: Blog...d. Motorist insurance is a very big part of economic cooperation of these countries. Authorized representatives of both countries 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 contract...
Path: Blog...nt the same norms and standards. • Pudong Airport area, which is the part of the FTZ, is supposed to develop in other fields as well. For example, it has to develop passenger logistics, improve business transfers and also trading transportation rules. The same applies for the Yangshan Port. Its area will focus on logistic, sales and shipping policy developments. • For now, there are 62 o...
Path: Blog...e 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 a respected **internatio...
Path: Blog...es continues 24/7. Since 2014, China launched **tax privileges for the high-tech firms**. These benefits can be applied relevantly easy: the company only needs to file documents to the local authority. What about the upcoming year and the new tax rules? The Chinese government still supports technology, therefore the Ministry of Finance announced a new period for these benefits. The underlyin...
Path: BlogWe have already informed our audience regarding the newest **Chinese tax regulations**, legal limitations and other **business rules**. It is notably complicated to take into account every small detail while establishing company in China, therefore, we have prepared the latest news about **broker activities** in China. Chinese legal entities have rights to perform their activities on the web ...
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...lation or they should be banned. An important statement was issued by the Deputy Prime Minister of **Singapore**. He claimed that in the matters of money-laundering and terrorism financing, virtual currencies are not distinguished separately. All rules of the AML/CFT policy apply the same way as for money and virtual currencies. Singapore took up an interesting position: this jurisdiction ac...
Path: Blog...�обный бизнес-план, который содержит информацию о перспективе прибыли и убытков за три финансовых года с момента запуска Manuals: Internal control rules; Internal procedure rules; System of protective measures for service users; System of segregated management of money, Virtual currency deposited...
Path: Licensing