UAE Corporate Compliance Update May 2022: The FATF Travel Rule for Crypto Transactions
The Travel Rule is the name given to the FATF Recommendation No. 16 against money laundering. Under said rule, any Virtual Asset Service Provider (VASP) is under the obligation to collect personal data of all participants in a transaction exceeding 1,000 USD/EUR. This directly helps authorities or financial regulators to take action against suspicious transactions by obtaining information about them. A VASP is understood as a financial institution as well as crypto company. These are required to not only collect the names but also account numbers of the sender and recipient of any such transactions above 1,000 USD/EUR.
The Dutch Holding
When thinking of asset or profit shifting, capital protection and tax benefits (even tax havens), the thoughts of many will jump to exotic destinations such as Seychelles, Marshall Islands, Mauritius, Emirates, Cyprus or even Hong Kong. However, what if such benefits could be found in the heart of EUROPE – and at that – completely legal and with a more developed infrastructure to provide support, stability and longevity? This article will explore the legal advantages and tax benefits of The Netherlands.
The 2019 Easiest & Most Complex Countries to do Business
The 2019 Easiest & Most Complex Countries to do Business.
