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26 Mar, 2019
According to the current Hungarian Legislation, since Hungary is a member of the European Union since 2004, the obtainment of an EU VAT number is an auspicious opportunity for the foreign investors who intend to form a company in Hungary...
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21 Dec, 2017
The basic principles of opening and operating a branch of a foreign entrepreneur in Poland are laid down in Art. 85-92 of of the Act of 2 July 2004 on Freedom of Economic Activity...
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22 Aug, 2017
The standard VAT rates vary across both Europe and Asia. In Europe, Hungary has the highest VAT value, at a 27%, followed by Norway, Croatia, Denmark and Sweden with 25%, Finland, Iceland and Greece with 24%...
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30 May, 2017
During the era of globalisation, we have long since forgotten about the physical borders between countries in the most direct sense of the term. However, for some time already the borders of business have been lost as well...
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28 Dec, 2016
As we enter into the brave new world of the CRS I have spoken to many practitioners who seem as bewildered as the others about how we got here and where it is leading. While the ostensible aims of the CRS are without...
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08 Apr, 2015
The short and sweet answer to this is no. And why not? Because the origin of all of the terrible sins mentioned in the same breath as offshore structures lies not in the system, but in human nature itself, which has remained unchanged...
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23 Mar, 2015
Cyprus became an independent and sovereign republic on 16 August 1960. Before that it was a British colony and many features of the British legal system have remained embedded in the judicial system of Cyprus...
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22 Nov, 2013
Most of us tend to forget the fact that there is an enormous difference between the operation of the two types of bank account mentioned above. First of all, however, we should clarify exactly what we mean by offshore and onshore banking. It will be easier to understand the difference between the two if we look at the second one first. In the case of onshore banking, speaking strictly about corporate accounts, the company generally opens an account in the country in which it is registered, which also tends to be where the owners live or are resident and where the company carries out its business activities.
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22 Oct, 2013
To be brief and to the point, the answer is yes. And there are several layers to this categorical yes which are worth exploring and taking into account when analysing the way things may develop in the future. It would appear from many points of view that this year is going to be about Cyprus in European business circles, even if, albeit more than six months ago, the island’s banks closed down for two weeks – unheard of in modern business history – and they only operated under severe restrictions once they reopened.
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05 Jul, 2013
March 16th 2013 will go down as a milestone in modern Cypriot history. The country, under the burden of financial difficulties, turns for help to the EU, who place draconian conditions on the bailout: all bank deposits will be affected, with 6.75% being taken from deposits under 100 000 euros and 9.9% from anything over that figure.
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