At least 2 local directors appointed within one month of incorporation
Management of crypto portfolios
At this stage, the buyer and seller discuss the terms of the transaction, including the purchase price, terms of transfer of assets and liabilities, and any other important aspects. It is important to pay special attention to the terms of transfer of licences and permits to ensure the continuity of the exchange’s operations after the change of ownership.
The provisions of the Bulgarian Personal Data Protection Act (PDPA) apply to Bulgarian crypto companies handling client data. It lays down rules pertaining to obtaining and maintaining copies of personal identity documents, large-scale data processing, collecting data of persons under 14 years of age, and more. The Commission for Personal Data Protection is a supervisory authority responsible for the enforcement of personal data protection rules and by doing so it strives to prevent threats to public order and security. It’s important to note that the PDPA rules can’t repeal the EU-wide General Data Protection Regulation (GDPR) rules.
Choosing a name for a company is a key step in the process of starting a business, especially in a country with such a rich cultural and historical heritage as Bulgaria. Choosing the right name will not only help your company stand out from the competition, but also play an important role in building a brand and attracting customers. In Bulgaria, as in many other countries, there are certain requirements and restrictions when choosing a company name. In this article, we will look at the key aspects and offer tips on choosing a name for your company in Bulgaria.
Conclusion
Who should the compliance officer answer to?The compliance officer should report directly to the board of directors of the financial organisation. This position provides him or her with the necessary authority, access to resources and information that is critical to fulfil his or her responsibilities. The AML officer should also actively co-operate with government agencies, such as FCIS, to effectively combat money laundering and terrorist financing.
Cyprus’ advantageous tax regime requires careful navigation to optimize tax liabilities while ensuring compliance with local and international tax regulations. Accounting professionals provide expert tax planning strategies, timely submission of tax returns, and adherence to VAT obligations.
Providing regular reports to the Anti-Money Laundering Group (MOKAS) about business operations
no tax on income received and dividends received from foreign countries;
