Licensing

ADVANTAGES OF OBTAINING A LICENCE IN SINGAPORE

Registering a payment system in Singapore provides many opportunities for conducting a successful international business. The company is eligible to do business both in Asia and in the European Union. Singapore licences are very popular because of the loyalty of the regulatory authorities to the business. The attractiveness of Singapore also lies in the fact that new companies are provided with various incentives in the form of reduced taxes on first profits, tax deductions, and others.

Over the past decade, the Czech Republic has evolved into a country with a well-developed and sophisticated financial system as well as transparent legislation. The financial regulation in the Czech Republic, which is standardized according to the EU requirements, enables to conduct reliable businesses that clients are willing to trust. One of the standards is to obtain the financial licence that allows an institution to provide services to its clients.

The main supervisory authority responsible for regulating financial and banking services is the Czech National Bank (CNB).

ADVANTAGES OF OBTAINING A LICENCE IN THE CZECH REPUBLIC

Registering a payment system in the Czech Republic provides many opportunities for conducting a successful international business. This licence entitles a company to do business throughout the European Union, making its services available almost all over the world. 

The Czech Republic has the advantage of relatively low labour costs, transparency of the tax system and proximity to the CIS countries, both mentally and geographically.

ADVANTAGES OF OBTAINING A LICENCE IN LITHUANIA

Registering a payment system in Lithuania opens up many new prospects for international businesses development. This licence makes it possible to conduct business throughout the Eurozone, which means that a company has the potential to promote its services or products almost all over the world.

No licence is required for most business activities in this country. However, it is definitely needed for establishing:

• investment company;
• credit institution;
• financial institution.

ADVANTAGES OF OBTAINING A LICENCE IN SPAIN

Registering a payment system in Spain provides many opportunities for conducting a successful international business. This licence entitles a company to do business throughout the European Union, making its services available almost all over the world. 

The advantages of Spain are the relatively low cost of labour and transparent tax system.

The last decade has seen an ever-increasing interest in Portugal, not only in terms of tourism, but also entrepreneurship, including business in the financial sector. The country provides quite favourable conditions for setting up and registering new companies as well as obtaining the necessary financial permits. The main requirement is to fulfil the precisely defined conditions set by the relevant authorities. The regulators of the financial sector in this country are the Bank of Portugal and the CMVM (Portuguese Securities Market Commission), which is a special commission for the securities market.

In order to establish a company in Portugal, including one that will provide various financial services, you have to:

• prepare statutory and other documents, namely: passport copies, specimen signatures and completed special forms for company registration;
• confirm the existence of a registered office located on the territory of Portugal;
• appoint an accountant;
• open a bank account in this country;
• pay the relevant fees.

Financial market analysts consider the banking system in Canada to be one of the most robust and rapidly growing. Canada has successfully overcome all the turbulences associated with the international crisis and today its economy is the only one that meets all the basic requirements in terms of, for example, securities markets, taxation, levels of corruption and innovative technologies. 

The Canadian government has set reasonable requirements for companies that want to do business in the financial sector, which is very positive. An MSB (Money Services Businesses) licence is required to operate in the financial sector of this country.

ADVANTAGES OF OBTAINING A LICENCE IN CANADA

• Registering a payment system in Canada provides many opportunities for conducting a successful international business.
• The speed and transparency of obtaining a licence.

ADVANTAGES OF OBTAINING A LICENCE IN ESTONIA

Registering a payment system in Estonia provides many opportunities for conducting a successful international business. This licence entitles a company to do business throughout the European Union, making its services available almost all over the world. 

Estonia has the advantages of relatively low labour costs, transparency of the tax system and proximity to the CIS countries, both mentally and geographically. No profit tax: if a company has made profits and reinvested them in its development, then this company is exempt from tax – in other words, as long as the profits remain undistributed among shareholders, no tax has to be paid.

The excellent example of a digital state is the e-Governance system, which allows most formalities to be carried out electronically and reduces interaction with government agencies to a minimum.