In the world of virtual assets, the legislative sphere can often be complicated and ever-changing. For crypto financiers looking to expand their functions, apprehending local legislations is paramount. This region, with its strong monetary sector and business-friendly environment, has become a promising place for tokenized ventures, suggesting a strategic hub for commercials searching for a…
With the expanding popularity of e-cryptocurrencies, this direction has become one of the prime locations for establishing fund vehicles. Digital holdings are maturing into a crucial part of both conventional and specialised portfolios. In 2021, one-third of conventional fund vehicles ventured in digital holdings, and two-thirds planned to amplify their ventures in 2022. Notably, this…
This type of licence is increasingly relevant as this region becomes a hub for e-currency operations. To obtain VASP licence in Argentina is essential for operating legally within Argentina’s growing crypto market, offering multiple benefits from regulatory support to potential tax incentives. Advantages of VASP Licence Demands for receiving this type of licence The submission…
The Swiss Financial Market Supervisory Authority (FINMA) is the cornerstone of economic regulation in Switzerland, a country known globally for its robust economic services sector. As an independent establishment, FINMA plays a critical role in maintaining the integrity, stability, and reputation of Switzerland’s economic markets. This article delves into the history, structure, functions, and significance…
An established and fully operational group specializing in the forex brokerage industry is now available for acquisition. This group includes multiple entities with financial licenses, a comprehensive online presence, and a complete infrastructure supporting marketing, sales, and customer service. The structure offers investors a turnkey solution with an extensive global reach. Key Details of Forex…
The Ready-Made company with AISP License holds an EU AISP (Account Information Service Provider) license issued by the Danish Financial Supervisory Authority, enabling it to provide account information services across the EU. EU Passporting: The license allows for passporting to all EU member states, providing extensive opportunities for expansion across Europe. Bank Account: The Company…
Overview EMI License in Georgia This company, licensed by the National Bank of Georgia since 2015, is a well-established provider in Georgia’s financial services market, known for a broad range of innovative payment solutions and extensive reach across the country. Key Services E-Money Issuing: Reliable electronic money issuance services. Multi-Currency E-Wallet & Account: Efficient fund…
Key Details of this Lithuanian VASP: Licensed VASP: Established in 2021 with full authorization from FNTT. Banking Setup: Active PSP account with a Lithuanian EMI for smooth operations, and a local bank account for tax and salary payments. Financial Stability: No loans or debts, in good standing, compliant with AML/KYC regulations. Legal and Operational Support:…
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+1 (888) 647 05 40In many states, because of the global crisis, it was decided to find additional resources in order to replenish the budget. For this reason, tax planning has become quite relevant and necessary for many companies.
To this end, they are actively trying to tightly control the capital of all taxpayers, including those who are outside the country.
It is worth paying attention to the fact that in the United States it was decided to launch several bills that put pressure on other financial institutions to disclose information on taxpayer accounts.
To control taxpayers of residents and US citizens, FATCA reporting was legalized. The bill implies obligations to foreign banks to provide reports on financial movements in accounts.
In the event of a refusal, the US authorities may take penalties for banks and decide to close them. According to the latest statistics, 113 countries fall under the law.
Other influential countries, such as Great Britain and Germany, also became interested in this practice. They also conclude agreements with other countries regarding the provision of information on deposits and taxes of their citizens.
This policy may possibly lead to the fact that the owners of large capital will stop using banking services, and will begin to withdraw funds to offshore.
In the first place for such citizens will be offshore with a guarantee of confidentiality of information.
The more and more actively pressure is exerted on banking institutions, the offshore zone attracts more attention from citizens – it is determined by the fact that citizens do not want to earn their own money, it shares with the state.
And no matter how tough the prohibitions are regarding offshore companies, their number is not decreasing.
Some countries are trying to impose their will on other states. And every year there are more and more bills that relate to the activities of non-resident companies, which are required to obey them.
And ignoring these laws involves breaking international agreements and restricting access to credit and other resources.
For example, the main goal of the FCPA in the United States is to fight corruption internationally. The law has been operating for over 40 years, but in fact it began to function only recently.
Violators of the conditions established under the bill are subject to both civil and criminal liability. Their capital may be fined a large amount.
In order for the capital from doing business not to be taken offshore, it is enough to create conditions attractive for citizens within the framework of their country so that the need to search for a tax haven outside the country automatically disappears. One such option is tax planning.
Favorable conditions allow not only to keep the capital of their citizens within the country, but also to attract citizens of other states.
For these reasons, many countries practice “tax freedom”, providing their taxpayers with the most favorable conditions for actively developing business projects. There are similar offers in Austria, the Netherlands, Great Britain, and Switzerland.
Despite this, such popular offshore zones as Cyprus, Panama, Belize, the British Virgin Islands do not go unnoticed by the owners of large companies.
Due to the large number of existing offshore zones, there is intense competition between them, which stimulates them to introduce more attractive and unique offers for investors.
In order to reliably protect their assets, businessmen use sophisticated schemes. To do this, more and more often not one offshore account is opened, but several, and at the same time in different jurisdictions.
It is also worth emphasizing the benefits of moderate tax rates in EU countries. For example, in Cyprus, Hungary, Bulgaria they do not exceed 15% for profit. But, for example, in Georgia and Estonia, provided that dividends are not distributed, profits are not taxed.
Summing up, it is worth noting that with competent tax planning, building a legal and reliable work scheme, it is important to seek the help of experienced and highly qualified specialists in the field of tax planning.
Our company is based on experience with this sphere and Eternity Law International specialists will be happy to рrovide you with assistance in resolving this issue.
The international company Eternity Law International provides professional services in the field of international consulting, auditing services, legal and tax services.