Recent News

On February 1, 2025, the DAC8 directive came into force in the European Union, fundamentally changing the rules for crypto asset holders and international businesses. Financial authorities now have expanded powers to monitor digital assets, offshore accounts, and international transactions. Let’s break down how this affects businesses. What Has Changed? Crypto platforms and banks must report all client transactions to tax authorities. This applies not only to exchanges but also to crypto wallets, DeFi platforms, and even NFT marketplaces. Stricter reporting requirements for individuals with offshore assets. All EU residents must now declare cryptocurrency transactions and foreign bank accounts. Failure to report could result in severe penalties. Expanded automatic tax information exchange between EU countries and third-party states. This means tax authorities will be able to track assets even outside the European Union. Risks and Opportunities for Businesses Risks: Crypto businesses must adapt to new reporting requirements or seek jurisdictions with more lenient regulations. Companies using cryptocurrencies for transactions will face increased scrutiny...

Spain Plans to Impose 100% Tax on Property Purchases by Non-EU Buyers Spanish Prime Minister Pedro Sánchez has announced the government's intention to introduce a tax equivalent to 100% of the property's value for buyers who are not citizens of the European Union. This initiative aims to address the housing crisis exacerbated by rising property prices and rents in the country. According to government data, in 2024, non-EU residents purchased approximately 27,000 residential properties in Spain, often for investment or vacation purposes. This trend has contributed to increasing prices and reduced housing availability for local residents. The proposed tax seeks to limit speculative purchases and prioritize housing access for citizens of Spain and the EU. However, experts have raised concerns about the measure's effectiveness and its potential impact on the real estate market. Details regarding the implementation of the tax and its mechanisms are currently being developed by the government. Additional measures, such as constructing state-owned housing and increasing taxes on short-term rentals, are also expected to be part of the strategy to resolve the housing...

The world of offshores is changing again. Starting in 2025, the OECD updated the list of jurisdictions now under close scrutiny. For businesses, this may seem like a challenge, but in reality, it’s a new opportunity. As experts in offshore structures, we aim to help you adapt to these changes and even benefit from them. What has changed The updated OECD list includes new jurisdictions that do not meet international standards of tax transparency. Some companies may face additional checks and restrictions. However, with properly constructed strategies, you can minimize risks and continue to enjoy the advantages of low-tax zones. Why this is not a problem for your business We know where opportunities remain: Even with stricter regulations, there are still countries and territories offering legal and safe tax optimization solutions. We know how to work with these jurisdictions and can guide you on where to establish a business today. Adapting to new standards: For many of our clients, transparency and compliance have become integral to their operations. We help implement processes that meet OECD requirements, so you can rest easy. ...

The Lithuanian government has approved a proposal by the Ministry of Social Security and Labour to increase the minimum wage effective January 1, 2025. Key Changes: Minimum Monthly Wage: The gross minimum monthly wage will rise from €924 to €1,038, marking a 12.3% increase. After taxes, this equates to approximately €777, providing minimum wage earners with an additional €69 in disposable income. Minimum Hourly Wage: The gross minimum hourly wage will increase from €5.65 to €6.35. Implications for Employers: Employers are required to adjust their payroll systems to accommodate these changes and ensure compliance with the updated wage standards. Social insurance contributions, both employer and employee portions, must be calculated based on the new minimum wage thresholds. Exceptions apply for certain categories of workers, including pensioners, individuals with disabilities, workers under the age of 24, and those receiving maternity, paternity, or child care benefits. Economic Context: This decision aligns with Lithuania's ongoing efforts to enhance living standards and reduce income inequality. The increase follows a...

On December 17, 2024, the rating agency Moody’s announced a downgrade of the credit ratings of leading French banks BNP Paribas and Credit Agricole. This decision followed a general downgrade of France’s sovereign credit rating, reflecting the country’s growing economic and financial risks. Reasons for the downgrade Economic challenges in France: Rising public debt and slowing economic growth increase financial pressure on the country. Impact on the banking sector: French banks are closely tied to the national economy, and the downgrade of the sovereign rating directly affects their creditworthiness. Consequences for BNP Paribas and Credit Agricole Increase in borrowing costs: A lower rating may lead to higher interest rates on loans, affecting the banks’ profitability. Decline in investor confidence: Investors may become more cautious about investing in French financial institutions, impacting their liquidity. Need to strengthen capital: Banks may be forced to increase capital reserves to maintain financial stability. Impact on clients and the market Potential rise in loan interest rates: Banks might...

10 Trends That Will Influence the Payment Sector by the End of 2025 MasterCard, one of the world’s leading payment companies, has outlined key trends that are transforming the approach to transactions, particularly regarding their security, speed, and convenience. 1. AI in Fighting Fraud By 2025, artificial intelligence will become a powerful tool in combating financial threats. By analyzing vast amounts of data, models will predict threats and respond instantly. This approach could triple the level of security for financial operations. 2. New Opportunities for Small Businesses Small enterprises will gain access to new platforms that automate routine processes, help create marketing strategies, and make data-driven decisions. 3. Integration of Local Digital Wallets The ability to link cards to local digital wallets will simplify international transactions, eliminating the need to top up accounts. 4. Biometric Authentication Passwords and one-time codes will gradually become obsolete. They will be replaced by biometric technologies and machine learning algorithms, making authentication faster and more...

Coinbase is introducing a new feature that allows purchasing cryptocurrency through Apple Pay in third-party applications. Yesterday, the cryptocurrency exchange announced its integration with Apple Pay, enabling app developers to embed cryptocurrency purchase functionality directly into their products. This was made possible by the Coinbase Onramp program, which facilitates the seamless conversion of traditional currencies, such as US dollars, into cryptocurrency. Previously, this process was quite complicated: Users had to pay additional fees. Switch between multiple apps or websites. The integration with Apple Pay significantly simplifies this process, making cryptocurrency transactions more accessible to regular users. This move is also aimed at expanding Coinbase's audience by easing access to cryptocurrencies. Interestingly, the integration of Coinbase with Apple Pay may indicate a shift in Apple's approach to cryptocurrencies. In the past, the tech giant demonstrated caution towards this sector: In 2019, Apple launched its own credit card but prohibited its use for purchasing cryptocurrency. The company removed apps...

Chinese banks are tightening control over legal entities in response to global sanctions. This new measure focuses on enhanced client checks, particularly for companies whose registered addresses match those of sanctioned organizations.Key aspects of the new regulations:Major banks, such as Chouzhou Commercial Bank and Bank of China, are forming "blacklists" of addresses.Restrictions apply even to companies not directly linked to sanctions but sharing similar registered addresses.Banks are strengthening compliance mechanisms to avoid violations of international sanctions.This creates risks for international companies cooperating with Chinese banks.For businesses, this means the need for careful monitoring of their data, legal addresses, and partners. Regular screening for sanction risks and compliance with requirements becomes critically important.If you operate in international markets and collaborate with Chinese banks, our company is ready to assist with legal support, risk monitoring, and the implementation of effective compliance solutions.Contact us to learn more about how to protect your business in the current...

Portugal offers unique opportunities for international entrepreneurs, particularly for business registration on Madeira and the Azores. These regions are characterized by attractive tax benefits, simplified registration procedures, and support from local authorities. Key advantages: Reduced corporate tax rate of 14.7%, significantly lower than on the mainland (21%). Companies with an International Business Centre of Madeira (IBCM) license benefit from a tax rate as low as 5%. Corporate tax refund programs allow shareholders to recover up to 100% of the paid taxes. Easy access to the European market with minimal barriers and costs. Business registration simplifies obtaining residency permits for business owners and their families. Developed infrastructure, including access to a highly skilled workforce and modern IT solutions. The use of English as a business language, facilitating partnerships with international clients. Additionally, entrepreneurs benefit from stable legislation, accessible administrative services, and investment programs tailored to support international businesses. These conditions make Madeira and the Azores an ideal platform for...