Curacao has been navigating notable alterations to its eGaming certification protocols, creating uncertainty among operators about the evolving rules and associated costs. This uncertainty has often benefited rival jurisdictions like the Isle of Man, which continues to attract a substantial influx of new business. However, Curacao has recently made strides by revealing the proposed costs…
With the development of cryptocurrency technologies and their growing popularity around the world, the issue of regulation of crypto assets is becoming increasingly relevant. Argentina, one of the Latin American countries with an active crypto-currency market, has taken significant steps in recent years to create a regulatory framework for virtual assets and related services. In…
This region has long been recognized as a major offshore monetary core, providing commercials with a solid lawful and supervisory sphere. Lately, the country has embraced virtual transformation by implementing new schemes for blockchain-based monetary facilities. A key development in this area was the VASP Act, which was adopted on February 1, 2023, laying the…
The digital economy is rapidly expanding, with e-currencies playing a notable part in shaping global monetary ecosystems. Although the legislative scheme is still developing, this sector offers promising capabilities for organisations willing to enter the trade. This article outlines the key aspects of obtaining a crypto licence in Bosnia and Herzegovina, the demands for crypto…
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:…
This is a new investment opportunity – FSP license in New Zealand for sale. Please check out the main details regarding this proposal below. FSP license in New Zealand: key considerations Financial Services Provider (FSP) for sale in New Zealand; Registered with Financial Service Providers Register in 2024; Authorizations (changing foreign currency, issuing or managing…
Key Features of this Forex Broker Company: Company Structure: Composed of both Bulgarian and offshore entities. Established Brand: The company has been operating for 9 years with a solid reputation in the market. Complete Infrastructure: Ready Made Forex Broker Company includes a website, secure client area (SCA), trading platform, and mobile applications. Trading Options: Leverage…
South Africa FSP License Bank Account: Includes one local bank account. Personnel: Local director and Key Individual (KI) available to stay post-sale. Transfer Timeline: Quick transfer—1 week for CIPC, 3 weeks for FSCA. Mauritius Full Service Dealer License Bank Accounts: Corporate and client accounts at MauBank. Capital Requirement: €24,000 Total Investment: €227,800 (inclusive of setup…
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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.