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Recent News

10 countries are collaborating with Ripple to develop a digital currency

Published:   21.06.2024 | news

Among the countries that cooperate with Ripple in the development of central bank digital currencies are Georgia, USA, Bhutan, Palau, Montenegro, Colombia. Each country is partnering with Ripple on a separate initiative. For example, in Georgia, work is underway on the Digital Lari pilot project, which is aimed at strengthening the financial sector. And in the US, Ripple is helping with the development of the digital dollar. Ripple plans to take a leadership position in the development of digital currency around the world, and make its transactions as fast and secure as possible. In addition, the company focuses on environmental friendliness, introducing technologies that require less energy consumption. The concept of digital currencies and their introduction at the state level causes a lot of controversy among citizens. Some believe that in this way the state will be able to gain greater control over the finances of the country's residents and thus jeopardize the concept of financial...

Cyprus may lower the monetary threshold for obtaining a permanent residence permit through the purchase of real estate

Published:   20.06.2024 | news

The proposal for a reduction came from the Ministry of Internal Affairs of the country. It is proposed to lower the bar by 50,000 euros. Thus, the government will try to attract new foreign investors to Cyprus who will be able to guarantee their financial stability while living on the island. Therefore, the terms of consideration of this proposal may be delayed. The text of the draft law can be submitted for approval by the entire composition of the parliament before the beginning of the summer parliamentary vacation in the fall or at the beginning of the winter of 2024. The new bill stipulates that a citizen of a third country must buy real estate worth at least €250,000 + VAT. The foreigner must also have an annual guaranteed income of €40,000 and €10,000 per year for each family member (husband/wife and minor children or adult university student...

Spain again spoke about the ban on the purchase of housing for foreigners

Published:   19.06.2024 | news

The country plans to introduce restrictions on the purchase of real estate by foreigners due to rising rents and social tensions. At the same time, in April 2024, the issuance of "golden visas" was already stopped. Raising rents and restricting sales can reduce speculation and make housing more affordable. Also, one of the positive points for the Spaniards is the possible increase in the fund of social housing. At the same time, a decrease in foreign investment may have a negative impact on the construction and tourism sectors. So, for example, in 2022, foreigners invested €6.35 billion in the Spanish economy. The EU prohibits complete bans on the purchase of housing for citizens of member countries. But the nationalist party is in dire need of...

Israel will introduce the ETA system

Published:   18.06.2024 | news

4.5 million foreigners visit Israel annually. Most of them do not need a visa to enter. The innovation involves filling out an electronic visa or electronic travel permit (ETA-IL). The Israel Migration Service advises to submit an application at least 3 days before departure, and warns applicants about additional questions. Permits must be obtained by people who enter Israel for a period of up to 90 days at the invitation of relatives or friends, for business purposes as tourists. People traveling to Israel for medical treatment do not need an ETA-IL permit. The system has already been in effect for citizens of Germany and the USA since June 1. From July 1, the regime will operate in test mode for other countries. And from August 1, the ETA-IL permit will be mandatory for tourists from all countries with which Israel operates a visa-free regime. To obtain an ETA-IL, you need to fill out an application on the website of the migration service and pay a duty of about 7 dollars. The application process will be free of charge from June 1 to July 1. ETA is valid for up to 2 years or until the expiration of the foreign passport. At the same time, the maximum length of stay is...

Moldova makes it difficult to acquire citizenship

Published:   17.06.2024 | news

Citizens of Moldova will not be able to obtain Moldovan citizenship if they are under criminal prosecution, are serving or must serve a prison term as a result of a court sentence, or have an outstanding criminal record. Applications for the acquisition of Moldovan citizenship will be checked, including by employees of the Information and Security Service. Also, the authors of the draft law are considering the possibility of extending the application review period by six months. Amendments to the law enter into force from the moment of publication in the official printed body of the government. Applications currently pending will be processed under the new...

The Portuguese Parliament has approved a bill that provides for a reduction in the tax base for capital gains on securities

Published:   14.06.2024 | news

The bill was developed in opposition to the government's plans to carry out tax reform. In the near future, changes in legislation should be implemented, according to which the benefit for reducing the tax base will be: 10% - if income is received from assets owned for 2 to 5 years; 20% - if income is received from assets owned for 5 to 8 years; 30% - if income is received from assets owned for at least 8 years. The adopted bill offers a number of tax benefits for small and medium-sized businesses for listing on the stock...

Фінляндія перевірить стартапи

Published:   13.06.2024 | news

Фінська служба імміграції повідомила про автоматичний моніторинг стартапів та ВНЖ, які видавалися за стартап-візою. Таких заходів вжито, щоб переконатися у відповідності підприємців до вимоги резиденції. Закон передбачає видачу дозволу на проживання особі, яка започатковує стартап або володіє новою компанією, яка націлена на розвиток. Перед тим, як подати заявку на отримання ВНП, підприємець повинен отримати позитивний висновок від Business Finland. Моніторитимуть відповідність вимогам до дозволу на проживання. У тому числі перевірятимуть переїзд підприємця до Фінляндії. Служба імміграції може автоматично перевіряти інформацію в національних...

Binance has restored accepting payments via Mastercard

Published:   11.06.2024 | news

Last year the service was suspended due to problems with regulatory authorities. Amid regulatory pressure on the company in the US, the organization faced problems in Europe. Binance withdrew applications for licenses in the UK, Austria, Cyprus and announced its exit from the Netherlands. “After comprehensively reviewing the strict controls and processes Binance has put in place, Mastercard has decided to allow platform-related purchases on its network,” a spokesperson for the exchange said in a statement. Most of the problems associated with using credit or debit cards in fiat currency on crypto exchanges are related to anti-money laundering...

On June 17, the European Commission will challenge golden visas issued by Malta

Published:   10.06.2024 | news

The Malta Golden Visa is one of the most expensive. Investing almost 1 million euros, investors wait 3 years for a passport. And to speed up the process they pay three times more. Legal disputes between the EU and Malta continue and gain momentum. Back in 2020, the European Commission began proceedings against Malta and Cyprus for violation of EU legislation. The European Commission believes that Cyprus and Malta illegally issued passports to foreigners through citizenship by investment programs. The European Commission opposes economic citizenship due to investors' lack of genuine ties to the country that offers the golden visa. Since such investors often do not plan to learn the language, live in the country for a long time and integrate into the local society. In September 2022, the European Commission referred Malta's case to the Court of Justice of the European Union. The first public hearing into Malta's breach of EU regulations will take place on 17...

Some legal advisers in Switzerland will be audited under new rules

Published:   07.06.2024 | news

The new rules will apply to Swiss lawyers who provide services that may pose a risk of money laundering. This could be real estate transactions or company structuring. The Swiss Federal Council has already supported the introduction of stricter vetting of some advisers and the introduction of a closed register of beneficial owners of companies. In addition, the new law provides for a simplified registration procedure for some structures. Such as associations, foundations, private entrepreneurs, LLCs. At the moment, there is no specific time frame for when the innovations will take effect, but, of course, special attention is being paid to legal consultants in...