Recent News

Some sources report that Greek municipalities will be divided into three zones, each with different investment requirements. For example, the first zone (A) - the minimum investment threshold is €800,000, zone B - the minimum investment threshold is €400,000 - €500,000, zone C - the minimum investment threshold is €250,000. The effective date of the new rules is currently unknown. Last time, when the investment threshold was raised, a transition period was provided. Now experts suggest that the transition period could be up to 6 months. It is possible, as local lawyers report, that investors will not be able to rent out real estate located in the centers of large cities for short-term rent. But new opportunities will be available for applicants. For example, the updated golden visa will allow the investor and his family members to work. And also apply for citizenship seven years after receiving a residence permit, subject to passing the...

The Malaysian government has decided to partially introduce capital gains tax due to the deteriorating economic situation. The national tax filing program goes into effect on March 1, 2024. Companies, LLCs, trusts, and cooperatives must pay tax. Payers must assess the tax themselves. The tax came into force on January 1,...

The FMA is investigating Raiffeisen Bank International over anti-money laundering violations. The investigation concerns payments involving Russia and data disclosed by the International Consortium of Investigative Journalists as part of a project called Cyprus Confidential. The bank is also being probed by US sanctions agency OFAC, which is trying to “clarify the payments business that RBI conducts with US correspondent banks in light of events related to Russia and...

The Bahamas and Turks and Caicos Islands were completely removed from the list, Belize and the Seychelles were moved to Annex II (grey list). The OECD Global Forum has provided Belize and Seychelles with additional verification, which will be carried out in the near future. 6 jurisdictions are excluded from the “grey list”: Albania, Aruba, Botswana, Hong Kong, Dominica, Israel. As of February 20, the “black list” includes 12 jurisdictions: US Virgin Islands, American Samoa, Anguilla, Antigua and Barbuda, Vanuatu, Guam, Palau, Panama, Russia, Samoa, Trinidad and Tobago, Fiji. The “Grey List” includes 10 jurisdictions: Turkey, Costa Rica, Belize, Malaysia, Armenia, Eswatini, Vietnam. The list is usually updated twice a year: in February and...

The digital nomad visa is primarily intended for remote workers who want to combine work and travel, for example. New visa offers will come from 5 countries in 2024. So, at the beginning of 2024, South Africa announced a new visa program. The launch date has not yet been announced, but those wishing to obtain a visa will have to have an income of at least 55 thousand dollars a year. The authorities believe that this amount will guarantee a good contribution to the economy. The visa period is 3 years. Japan will also offer a digital nomad visa at the end of March, but with strict requirements. The applicant's annual income is at least $68,300, and the visa itself will be issued for 6 months and only applicants from the list of countries that have signed a tax information exchange agreement with Japan will be able to participate in the program. South Korea joins the list of countries and offers a 2-year visa to applicants with an income of $65,000 or more. The visa program in the Philippines is still under development and details have not been disclosed by the authorities. But it is already known that the visa will be issued for a year with the possibility of extension...

The cryptocurrency exchange, aimed at experienced traders, is already in beta testing. Source:https://www.coindesk.com/business/2024/02/16/revolut-to-introduce-crypto-exchange-targeting-advanced-traders/ The trading platform works on deeper market analytics and lower fees than a digital bank app. The exact dates of testing and the start of the project are not disclosed. “We are launching a new cryptocurrency exchange built with advanced traders in mind. Deeper analytical tools and low commissions await you,” reads the letter received by one of the users invited to the test. According to CoinDesk, the letter also mentioned commissions ranging from 0% to 0.09% and the ability to trade using limit and market orders. Meanwhile, in December, Revolut suspended its cryptocurrency services to business customers in the UK due to new FCA...

Chinese authorities are concerned about the growing risks associated with the criminal use of virtual assets. The China Anti-Money Laundering Research Center has proposed addressing regulatory gaps in the fight against money laundering using virtual assets. The draft amendments to the anti-money laundering law have been preliminary approved by the relevant committees under the State Council and will soon be submitted for approval to the National People's Congress of China. The bill has already been approved by the Supreme People's Procuratorate. At the moment, the text of the law has not been fully disclosed, as it must be fully...

In 2023, German direct investment in China increased by 4.3% and reached a record high of $12.7 billion, according to official data from the German Central Bank, cited by Reuters. Source:https://www.reuters.com/markets/german-investment-china-rises-new-record-high-2024-02-14/ The share of investment in China in Germany's total overseas investment rose to 10.3% last year, the highest since 2014. At the same time, German direct investment in other Asian countries remained at the same level of about 8%. According to a report by the IW Institute, German companies have invested as much in China in the past three years as in the previous six years. The share of German companies leaving the Chinese market or considering doing so has doubled over the past four years to 9%, according to a study by the German Chamber of Commerce and Industry in China. Total German foreign direct investment fell to €116 billion last year from around €170 billion in 2021 as the European economy was close to...

Barclays Bank UK PLC has announced the acquisition of Tesco Bank, the retail banking division of Tesco. This acquisition is complemented by an exclusive long-term partnership to offer credit cards, personal loans and deposits under the Tesco brand. Source:https://ffnews.com/newsarticle/fintech/barclays-bank-uk-plc-acquires-tesco-bank-and-establishes-exclusive-partnership/ The integration of Tesco's retail banking clients is in line with Barclays UK's strategy to expand its customer base and market presence. Pending regulatory approval, this transaction is expected to close in the second half of 2024. As a result, around 2,800 Tesco employees will move to Barclays, reinforcing the bank's commitment to excellence and innovation in customer service. The Barclays group chief executive highlighted the strategic nature of the partnership, saying: “This partnership allows us to significantly diversify our distribution channels for our unsecured lending and deposits business. Our experience with card partners in the US will drive the development of Tesco's Clubcard loyalty scheme, offering innovative financial solutions to meet customer...