Mauritius is one of the first countries in the Eastern and Southern African region which has taken steps to adopt a comprehensive legislation on virtual assets (VAs) and Initial Token Offerings (ITOs). Virtual assets have dominated the FinTech space in recent years and it was estimated that the cryptocurrency global market rose to an all-time …
Offshore banking is popular amongst individuals and businesses around the world. Banking offshore allows for greater privacy and can assist in reducing one’s tax burden. Despite the many benefits, many still doubt the safety and security of offshore banking, which is a perfectly reasonable question. Objectively speaking, offshore banking is safe. During the Great Recession, …
Many have enjoyed the zero-income tax on profits in UAE. However, this is soon to be changed, with the Ministry of Finance (MOF) announcing on 31 January 2022 that federal corporate income tax (CIT) will be made known in the UAE. CIT is expected to take place for fiscal years starting on or after 1 …
In an era where online media has become the core of the business world, online payment (payment gateway) is one of the important systems that will allow for easier trading. If you have a service, product or tool that you would like to market, you promote and create the website to present the product in …
As we all know, cryptocurrency is a form of virtual currency that stores data on a digital ledger, also known as Blockchain. The function of cryptocurrency made it easier for many individuals, there by eliminating the need for financial institutions. Nevertheless, these de-centralised features also make it difficult for the government to trace any illegal …
What’s the Cryptocurrency Situation like in India? Read More »
The Hong Kong Stock Exchange (HKEX) has announced rule revisions, most of which will take effect from January 1, 2022. Amendments to the Main Board Listing Rules Strengthen and Simplify the Listing Regime for Overseas Issuers After the consultation process in 2021, the Hong Kong Stock Exchange has adjusted the listing conditions for overseas persons …
Analysis of the Amendments to the Listing Rules of Hong Kong Companies Read More »
There is a feeling of inevitability about the uprising of the metaverse, which is often referred to as “Web 3.0.” Despite being far from a unified concept, many would agree that we are collectively colliding towards greater participation in simulated worlds that are even more limitless than our real one. While metaverse may seem like …
Metaverse, an Alternate Universe for the Gaming Industry? Read More »
Jurisdiction Singapore Type of License Money-changing Licensee Money-changing licensees provide only money-changing services Year of Licensing 2011 Office At Singapore Money Exchange Lane (Arcade) in CBD, lease until September 2022 Bank Accounts 2 Local bank accounts Others Clean record with no legal issues Note: Proof of funds required as well as KYC of potential …
Customer Type: Eligible Counterparty, Professional, Retail (Investment) Investment Type Certificates representing certain security Commodity Future Commodity option and option on commodity future Contract for Differences (excluding a spread bet and, a rolling spot forex contract and a binary bet) Debenture Future (excluding a commodity future and a rolling spot forex contract) Government and public security …
Rules and regulations governing the cryptoassets Businesses that accept money to transmit to persons outside of Singapore or deals with fiat currency exchanges has always been licensed under the Money-Changing and Remittance Businesses Act. However, since early 2020, the licensing of these two activities falls under the Payment Services Act (PSA) regime. From then onwards, …
Understanding the Cryptoasset Landscape in Singapore Read More »
