The National Bank of Ethiopia (NBE) drafted a bill on Capital Market Authority, that is expected to be legislated before the end of 2020. For the past year, a technical committee characterized by members drawn from the central bank, the Ministry of Finance, the Office of the Attorney General and external advisors, has been […]
Adoption of Mobile Money in Africa Post Covid 19
As COVID-19 developed in the landmass’ significant economies, Africa’s leader in digital payment adoption have turned to mobile money as a public-health tool. In the midst of the innumerable estimates that have been reported as of late because of the Covid pandemic, both public and private, many nations across Africa have just dispatched and […]
Mauritius Financial Services Peer to Peer Lending Rules 2020
The Financial Services Commission of Mauritius (FSC) has issued the Financial Services (Peer to Peer Lending (P2P Lending)) Rules 2020 (Peer to Peer Lending Rules) (GN 184 of 2020). The Peer to Peer Lending Rules enable the operation of Peer to Peer lending platforms in Mauritius by P2P Operators which hold Peer to Peer […]
Gibraltar Gambling Industry Post Brexit
The uptake of online gambling in the British market has been significantly high. The aftershocks of Brexit are being felt across a number of industries in Britain, notwithstanding the gambling industry. The impact of Brexit brings speculations and uncertainties, especially with regard to tax revenues generated from the industry. Gibraltar is a go to home […]
Malta Permanent Residency and Citizenship by Investment
The permanent residency program, popularly known as, citizenship by investment program in Malta, provides a doorway to those envisioning to move to the European Union. While a citizenship status is evidently much more prestigious and powerful, multiple residencies may gather increased benefits. A residence in Malta is also seen as a doorway to the European Union. Malta additionally appreciates political […]
Mauritius Foundation: Ideal Structure for Private Wealth Management
With the Mauritius Foundations Act 2012, Mauritius added Foundations to its list of wealth management structures available to choose from. Well-known for its economic and political stability and dynamic business regime, setting up a Foundation in Mauritius provides many benefits. This article will highlight the features and basics of a Mauritius Foundation as well as […]
Cyprus as a Destination for FinTech companies
Cyprus has become an increasingly attractive FinTech Hub, as the, Financial services remain the fastest growing sector of the Cypriot economy. Firstly, Cyprus has a strong and sophisticated financial services center with a full legal framework. The Cyprus Securities and Exchange Commission (CySEC) governs activities and ensures financial regulations and operations comply with the European MiFID […]
How to Obtain a Dominican Citizenship by Investment
The Commonwealth of Dominica announced a new citizenship by investment program, the so-called “Entrepreneur Visa”, which leads to citizenship after two years. The introduction of the citizenship by investment programme has made the jurisdiction be one of the most affordable and flexible second passport programmes available. Until 1993, it was never possible to gain Dominican […]
Uncertificated Securities Market in Hong Kong
The implementation of the uncertificated securities market (USM) proposed operational model conclusions in Hong Kong has been arrived at by the joint consultation between the Securities and Futures Commission, HKEX and the Federation of Share Registrars Limited. The consultation was triggered by market concerns that the operational model proposed would compromise some of the settlement […]
International Tax Planning: The New Economic Substance Requirement
Recent initiatives by the Organization of Economic Cooperation and Development (OECD) are having a seismic effect on international tax planning. OECD Action 5, which has been adopted by almost all credible offshore financial centers (e.g., Cayman Islands, British Virgin Islands, Barbados, Bermuda, Bahamas, Liechtenstein, Isle of Man, etc.) requires all companies registered in a jurisdiction […]