... 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 doing business in Belize, there are no requirements for the sh...
Path: Blog...on 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 amendments to the **Anti-money laundering act**. The proposed bill to amend the anti-money laundering law takes into account certain key recommendations from the **Financia...
Path: Blog...ails 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 would make publicly accessible registers of ben...
Path: Blog...g companies established in Norway, including branches of foreign companies. Also, the new requirements will impact service providers that at this time operate without registration. The FSA has clarified that providers will have to comply with the money laundering act and shall be dully registered. A “transitional period” has been set for registering with the FSA – this period will continu...
Path: Blog... elements will increasingly use digital assets to conceal their illegal funds. In order to prepare for this, the secretary-general plans to amend local legislation and bring cryptos into the AML regime. The aforesaid process will start with the Anti-money laundering act. **Changes shall be made in accordance with international standards on crypto exchange service providers, hence cryptocurrenc...
Path: Blog...r Swiss payment system, ‘stablecoin’ project must ensure full conformity with international Anti-Money Laundering (AML) standards. For the purposes of prevention of financial crime and money laundering every payment system is subject to the Anti-money laundering act as a matter of course. FINMA suggests the golden rule of ‘same risks, same rules’ which implies that each and every speci...
Path: Blog...well as they must have a right to work in Switzerland. Specific trainings are prescribed by law for all members of the company. Training take place after the affiliation to ARIF. All the persons involved into the activities subject to the Swiss Anti-money laundering act must supply a personal file. Benefits Respectful jurisdiction Financial stability Low tax rates which is based...
Path: Licensing...es may be equated with securities); asset tokens: a token whose function is similar to stocks and bonds (as a rule, they fall under the license for trading activity in the field of securities). Financial intermediary license Under the Anti-money laundering act (AMLA), financial intermediaries who are not members of a self-regulatory organization require a license from FINMA. Before a lic...
Path: Licensing