SEAMLESS Legal

Today, Binance Blockchain Week 2024 started in Dubai, one of the largest Web3 hubs in the world. The event brought together traders, builders, founders, institutional investors, regulators, global officials, and innovators to explore and shape the future of blockchain & Web3 technology. As the industry expands, it generates many questions. One of them is how to adapt laws and regulations to the welcome evolution. Zijad Hanić, Counsel at SEAMLESS Legal UAE, joined the event to get insights from industry experts on the current state of the blockchain ecosystem and cryptocurrency infrastructure in the UAE.   #binance #BinanceBlockchainWeek

New changes in the UAE VAT legislation come into effect from 15 November 2024.  Zijad Hanić, Counsel at SEAMLESS Legal in the UAE, prepared an overview of significant amendments under Cabinet Decision No. 100 of 2024. These changes cover multiple areas, including exports, financial services, tax groupings, and deemed supplies. For businesses operating in the UAE, it is crucial to review these amendments in detail to ensure ongoing compliance with VAT obligations.   Read more: https://lnkd.in/eMQficWE   #SeamlessLegal #SeamlessLegalUAE

Maria Kabanova, international tax expert at SEAMLESS Legal, invites you to the webinar to discuss the latest tax changes in Russia. Maria will provide an overview of a tax reform and explain what businesses should prepare for. The webinar will also cover the topical legislative issues influencing Russian participants of international groups.   Please join us on October 16, 2024 at 10:00 CET. Register here: https://lnkd.in/eXjMU3J9 https://lnkd.in/eeemYxtG

The Government Commission for Control over Foreign Investment in the Russian Federation has updated the requirements for approving transactions for the “exit” of the Russian market by foreign “unfriendly” shareholders.   The minimum contribution to the federal budget has been raised from 15% to 35% of the market value of the asset. The compulsory discount for such transactions has been increased from 50% to 60%.   At SEAMLESS Legal, we expect that these new requirements will be soon officially published and recommend taking them into account when planning an exit transaction involving an “unfriendly” foreign investor.   Read more: https://lnkd.in/eRcuYpWu   #SeamlessLegal

Today, SEAMLESS Legal has opened a new business season with its tax event in Moscow. Maria Kabanova, Counsel, international tax expert, made an overview of the latest tax changes and explain what businesses and various categories of taxpayer should prepare for. The topic also covered some important challenges faced by international groups with Russian participants such as transfer pricing compliance and currency control regulations. Traditionally, the presentation was followed by Q&A session and active discussion.   We were excited to see so many attendees from Russian and international companies. Thank you to all our guests for joining us!  #SeamlessLegal #InternationalTax

The Russian Federal Tax Service clarifies the requirements on foreign accounts reporting for Russian companies in international groups.   - Notification of opening, closing and changing account details - Submission of cash flows statements and other financial assets reports   Our experts Leonid Zubarev, Yulia Smourova, and Valeriy Chelnokov monitor further developments in notifications filing and other related matters and provide their recommendations on compliance with the requirements.   Read more: https://lnkd.in/e2J5SaTB   #SeamlessLegal

Today, on 1 October 2024, a new set of Virtual Assets Regulatory Authority [VARA] regulations on the marketing of virtual assets and related activities in Dubai came into effect. Zijad Hanić, Counsel at SEAMLESS Legal in the UAE, prepared the comparative analysis of the key changes in the framework. Read more: https://lnkd.in/eEmNyzas #SeamlessLegal #SeamlessLegalUAE

9 September 2024 saw issue of Presidential Decree No. 767 amending the procedure for residents to obtain permit to fulfil their obligations to "unfriendly" foreign non-residents to pay dividends and repay loans. The Government Commission for Control over Foreign Investment in the Russian Federation is now the competent authority responsible for issuing relevant permits to residents that are not financial institutions. For financial institution residents, the Bank of Russia retains its authority to issue relevant permits. The amendments also empower the Government Commission and the Bank of Russia to establish conditions for residents to fulfil their obligations to "unfriendly" non-residents. 🇬🇧Read in English: https://lnkd.in/eugyXk9D 🇷🇺Read in Russian: https://lnkd.in/ezXumfpi 🇯🇵Read in Japanese: https://lnkd.in/epPN2Bb3 #SeamlessLegal #SeamlessLegalRussia #CorporateGovernance

The UAE’s Securities and Commodities Authority (SCA) has issued the guidelines to regulate virtual assets and virtual asset service providers. These guidelines are essential for ensuring market stability, investor protection, preservation of financial integrity, and managing the risks and opportunities presented by the rapidly evolving digital economy.    By establishing clear licensing requirements, promoting technological governance, and ensuring consumer protection in this innovative market, the UAE is positioning itself as a global leader in the regulation of the digital economy.   Zijad Hanić, Counsel at SEAMLESS Legal in the UAE, prepared a comprehensive analysis of the SCA’s Guidelines. Read on our website: https://lnkd.in/ezrCwhDJ #SeamlessLegal #SeamlessLegalUAE

In August 2024, the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) issued Consultation Paper No. 7 of 2024 for public comments on a newly proposed regulatory regime for Fiat-Referenced Tokens (FRTs).    The Paper is designed to bring clarity and structure to the growing virtual assets market in ADGM. The issuers and stakeholders are encouraged to provide feedback until October 3rd, 2024.    Zijad Hanić, Counsel at SEAMLESS Legal in the UAE, provides an overview of the proposed regulatory framework for the virtual asset ecosystem. Read more: https://lnkd.in/eAeCe5uJ #SeamlessLegal #SeamlessLegalUAE