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(3656, 6, '2020-11-29 20:00:57', '2020-11-29 17:00:57', '', 'ABOUT', '', 'inherit', 'closed', 'closed', '', '93-revision-v1', '', '', '2020-11-29 20:00:57', '2020-11-29 17:00:57', '', 93, 'https://www.porat.com/93-revision-v1/', 0, 'revision', '', 0),
(3657, 1, '2020-11-29 20:59:27', '2020-11-29 17:59:27', 'Nir Porat &amp; Co., Law Firm (\"<strong>Porat Group</strong>\", \"<strong>we</strong>\" or \"<strong>us</strong>\") values your privacy. This Privacy Policy explains our practices in processing your Personal Information, which are designed to ensure transparency and limited use of Personal Information.\r\n\r\nThis Privacy Policy is incorporated into and constitutes an integral part of our <a href=\"https://www.porat.com/terms-of-use/\"><u>Terms of Use</u></a>. Capitalized terms not otherwise defined herein carry the meaning ascribed to such terms in the Terms of Use.\r\n\r\n<strong><u>Consent </u></strong>\r\n\r\n\"Personal information\" is information about an identifiable individual, subject to more particular definitions or interpretations under applicable law.\r\n\r\nYou are not obligated by law to provide us with any Personal Information, and we collect any Personal Information through the Website only if you provide us with such information of your own free will and consent; for example, by contacting us with inquiries, subscribing to our email alerts, or applying for open positions at Porat Group. We will use such Personal Information that you may provide to us solely as described in this Privacy Policy.\r\n\r\nAnything stated in this Privacy Policy is limited to your rights as a visitor to our Website. If you are a client of Porat Group who has signed an engagement letter with us, then much broader obligations of confidentiality apply to our use of your Personal Information, and you should rest assured that your Personal Information is treated not only in accordance with the strict letter of the law, but according to the highest ethical and professional standards.\r\n\r\n<strong><u>Types of Information We Collect </u></strong>\r\n\r\nWhen you choose to contact us through the Website or submit your <em>curriculum vitae</em> for any open positions at Porat Group, you may voluntarily submit such Personal Information as your name, phone number, e-mail address, address, telephone number, your professional affiliations, or any other information which you choose to provide to us in connection with your inquiry.\r\n\r\nWe do not knowingly solicit or collect information from or about any children under the age of sixteen.  Children under this age should not submit any Personal Information through our Website. If we learn that any Personal Information submitted through our Website belongs to a child under the age of 16, we will take appropriate steps to promptly delete such information from our databases.\r\n\r\n<strong><u>How We Use Information We Collect</u></strong>\r\n\r\nApart from using the information you provide to us in order to respond to your inquiries, we may also use your information for the following purposes:\r\n<ol>\r\n 	<li>To send you marketing, professional or educational material, which may be of relevance to you, but only as permitted by law or specifically approved by you (for example, if you expressly indicate your interest in receiving such communications or sign up for our e-mail alerts). If you do not want to receive any more communications from us, you may send us an email to office@porat.com, with the subject heading \"Unsubscribe\".</li>\r\n 	<li>We may transfer or disclose your Personal Information to our affiliated companies, subcontractors or such other trusted third party service providers or partners who may be located in different jurisdictions across the world for the purpose of: (a) storing or processing such information on our behalf; (b) assisting us with our business operations and improving our Website and/or services we may offer; (c) performing research, technical diagnostics, analytics or for statistical purposes; or (d) carrying out your express instructions. In particular, if you are located within the European Union, please note that information collected by us may be transferred outside the European Union / European Economic Area and your consent to this Privacy Policy and continued use of our Website represents your agreement to such transfer; provided, however, that we will ensure that such transfers are either made to countries that have been deemed by the European Commission to provide an adequate level of protection for Personal Information, or that we bind such third parties by contracts specifically approved by the European Commission for effecting such international transfers.</li>\r\n 	<li>We may disclose Personal Information, or any information you submit through your use of the Website, if we have a good faith belief that disclosure of such information is helpful or is reasonably necessary to: (a) comply with any applicable law, regulation, court order, legal process or governmental request; (b) enforce our policies (including our Terms of Use and Privacy Policy), including investigations of potential violations thereof; (c) investigate, detect, prevent, or take action regarding illegal activities or other wrongdoing, suspected fraud or security issues; (d) establish or exercise our rights to defend against legal claims; or (e) prevent harm to the rights, property or safety of Porat Group, our users, yourself or any third party.</li>\r\n</ol>\r\nWe reserve the right to use information you provide to us for any purposes specifically agreed by you at the time of providing such information to us.\r\n\r\n<strong><u>Accessing Your Personal Information and Opting Out</u></strong>\r\n\r\nAs required by applicable law, we enable you to view, amend or delete the Personal Information that we have collected. To do so, contact our customer support at office@porat.com and detail your request. Please allow us up to three business days to complete the processing of any such request.\r\n\r\n<strong><u>How We Share Your Information</u></strong>\r\n\r\nWe may disclose your Personal Information submitted to us through or in connection with the Website as follows:\r\n<ol>\r\n 	<li>to third parties in our business network in connection with responding to your inquiries or providing services to you;</li>\r\n 	<li>if we have a good faith belief that disclosure of such information is helpful or is reasonably necessary to comply with applicable laws, regulations, legal processes or governmental requests;</li>\r\n 	<li>to enforce our policies and agreements with you (including our Terms of Use and this Privacy Policy); or</li>\r\n 	<li>for investigating, detecting, preventing, or taking action regarding illegal activities or other wrongdoing, suspected fraud or security issues.</li>\r\n</ol>\r\n<strong><u>How We Protect Your Information</u></strong>\r\n\r\nThe security of your Personal Information is important to us. We follow generally accepted industry standards, including the use of appropriate administrative, physical and technical safeguards, to protect information submitted to us. However, no method of transmission over the Internet, or method of electronic storage, is 100% secure. Therefore, while we apply standard security measures to protect your Personal Information, we cannot guarantee its absolute security or confidentiality when submitted through the Website or e-mail. If you have any questions about our security practices, please contact us at office@porat.com.\r\n\r\n<strong><u>Interaction with Third Party Websites </u></strong>\r\n\r\nThis Privacy Policy does not apply to the practices of companies that we do not own or control, or to individuals whom we do not employ or manage, including any of the third parties to which we may disclose information as set forth in this Privacy Policy. Although through the Website you may be able to connect to third party links, we are not responsible for the privacy practices of such third parties and expressly disclaim all liability in this regard. Because such third party websites may involve collection of Personal Information from you, we encourage you to read the terms of use and privacy policy of each third party websites that you choose to use to visit or interact with.\r\n\r\n<strong><u>Retention of Personal Information</u></strong>\r\n\r\nWe will retain any Personal Information that we collect only for as long as is required for the purposes for which such Personal Information is collected, and in any event will delete any such Personal information following any opt out request received from you. We reserve the right to retain a copy of the opt-out request and any necessary accompanying details for administrative and regulatory compliance purposes only.<strong>   </strong>\r\n\r\n<strong><u>Merger, Sale or Bankruptcy </u></strong>\r\n\r\nIn the event that we are acquired by or merged with a third party entity, or in the event of bankruptcy or a comparable event, we reserve the right to transfer or assign information, including Personal Information, in connection with the foregoing events. In such an event, our affiliated companies or acquiring company will assume the rights and obligations as described in this Privacy Policy.\r\n\r\n<strong><u>Contact Us </u></strong>\r\n\r\nIf you have any questions or queries about our Privacy Policy or your Personal Information that we may have collected, contact us by e-mail at the following address: office@porat.com<strong>.</strong>\r\n\r\n<strong><u>Modifications to the Privacy Policy </u></strong>\r\n\r\nWe reserve the right, at our discretion, to revise or update this Privacy Policy at any time. Any modifications to this Privacy Policy will be effective upon our posting of the new terms and/or upon implementation of the new changes on the Website (or as otherwise indicated at the time of posting). Your continued use of the Services after the amendments to this Privacy Policy have entered into effect will constitute your acceptance thereof. Make sure to review our Privacy Policy periodically.\r\n\r\n&nbsp;\r\n\r\n<em>Last updated: November 1, 2020</em>\r\n\r\n&nbsp;', 'Privacy Policy', '', 'inherit', 'closed', 'closed', '', '554-revision-v1', '', '', '2020-11-29 20:59:27', '2020-11-29 17:59:27', '', 554, 'https://www.porat.com/554-revision-v1/', 0, 'revision', '', 0),
(3658, 1, '2020-11-29 20:59:30', '2020-11-29 17:59:30', 'Welcome to <a href=\"https://www.porat.com\"><strong>www.porat.com</strong></a> (the \"<strong>Website</strong>\") operated by Nir Porat &amp; Co., Law Firm (\"<strong>Porat Group</strong>\", \"<strong>we</strong>\" or \"<strong>us</strong>\"). This Website contains information about Porat Group, Porat Group\'s logos, designs, images, trademarks, profiles of our professionals, professional articles, information concerning events, legal updates, texts, photographs, videos and other materials (the \"<strong>Content</strong>\").\r\n\r\n<strong><u>Acceptance of Terms of Use</u></strong>\r\n\r\nPlease read the following Terms of Use (the \"<strong>Term of Use</strong>\") carefully before using our Website. The Terms of Use and the <a href=\"https://www.porat.com/porat-groups-privacy-policy/\"><u>Privacy Policy</u></a> constitute binding agreements between Porat Group and you. By visiting the Website, you agree to be bound by these Terms of Use and Privacy Policy, and all other policies that we may publish from time to time through the Website, which are incorporated herein by reference.\r\n\r\nYou agree and acknowledge that you are of legal age in your jurisdiction and have the adequate legal capacity to enter into these Terms of Use, and that you will use the Website only for lawful purposes and in accordance with these Terms of Use.\r\n\r\n<strong>IF YOU DO NOT AGREE TO ANY PART OF THESE TERMS OF USE OR THE PRIVACY POLICY, PLEASE DO NOT USE THE WEBSITE.</strong>\r\n\r\n<strong><u>Privacy</u></strong>\r\n\r\n<strong>Your privacy is very important to us; please review our <a href=\"https://www.porat.com/porat-groups-privacy-policy/\"><u>Privacy Policy</u></a> in order to better understand our commitment to maintaining your privacy.</strong>\r\n\r\n<strong><u>Disclaimers</u></strong>\r\n\r\nThe Content does not constitute legal or other professional advice and is intended for your personal, non-commercial use only. Applicability of any Content posted on the Website may be affected by many different factors, and therefore the Content should not be relied upon as accurate, reliable, complete, current, timely or fit for any particular purpose, without receiving advice from a lawyer or other relevant professional.\r\n\r\nUse of this Website does not in any way create attorney-client or any other fiduciary relationship between you and Porat Group. Therefore, communications with us through this Website will not be subject to attorney-client privilege, even if such communications are conducted by way of email to our professionals accessed through the Website.\r\n\r\n<strong><u>Permitted and Non-Permitted Uses of the Website and Content</u></strong>\r\n\r\nWhile you are invited to use this Website for your personal informational and educational purposes, you may not use the Website or any Content thereof for any purpose that is unlawful, nor make commercial use of any Content, include such Content in any product that you create or distribute, or otherwise display, distribute, post, disseminate, publish, or broadcast any Content to the public for any purpose other than personal information. You may not decompile, disassemble, reverse engineer or otherwise exploit the Website, the Content, or any part thereof in a manner that may be damaging to Porat Group or its reputation, or in any other manner not expressly permitted herein.\r\n\r\n<strong><u>Intellectual Property</u></strong>\r\n\r\nAll Content displayed on the Website, including architecture and layout of the Website and its webpages, is owned by or licensed to Porat Group and is protected by applicable copyright, trademark and other intellectual property laws.\r\n\r\n<strong><u>Limitation of Liability and No Warranties</u></strong>\r\n\r\nPORAT GROUP DOES NOT WARRANT THE QUALITY, ACCURACY OR COMPLETENESS OF ANY CONTENT. THE WEBSITE MAY INCLUDE TYPOGRAPHICAL ERRORS OR OTHER INACCURACIES. TO THE FULLEST EXTENT PERMITTED BY LAW, PORAT GROUP, ITS SHAREHOLDERS, AFFILIATES, EMPLOYEES AND/OR AGENTS DISCLAIM ANY LIABILITY FOR ANY DAMAGES OR LOSSES WHATSOEVER, WHETHER DIRECT, INDIRECT, INCIDENTAL, SPECIAL, PUNITIVE, EXEMPLARY,  OR CONSEQUENTIAL, AND WHETHER ARISING UNDER CONTRACT, TORT, STRICT LIABILITY, NEGLIGENCE OR ANY OTHER LEGAL OR EQUITABLE THEORY.\r\n\r\n<strong><u>Third Party Links</u></strong>\r\n\r\nWe may include links to third party websites for your information or convenience. If you choose to access any such third party website, you should be aware that Porat Group neither controls, monitors, nor endorses any such third party websites or their contents, and that by choosing to access any such third party website, you are doing so at your own risk. Porat Group does not guarantee in any way the quality, accuracy, credibility, completeness, integrity, currency, legality or fitness for any purpose of any third party website or content thereof.\r\n\r\n<strong><u>Miscellaneous</u></strong>\r\n\r\nThese Terms of Use (including the Privacy Policy) comprise the entire agreement between you and Porat Group with respect to your use of the Website, and supersede all other agreements with respect to Website and your use thereof.  If any provision of these Terms of Use or Privacy Policy is found to be unenforceable or invalid, that provision will be limited or eliminated to the minimum extent necessary so that these Terms of Use and the Privacy Policy will otherwise remain enforceable and in full force and effect. Our failure to exercise in any respect any right stated in these Terms of Use shall not be deemed a waiver of any further rights hereunder.\r\n\r\nThese Terms of Use are personal to you, and are not assignable, transferable or sub-licensable by you except with our prior written consent.\r\n\r\nThese Terms of Use and your use of the Website will be governed by and interpreted in accordance with the laws of the State of Israel, excluding any otherwise applicable rules of conflict of laws, which would result in the application of the laws of a jurisdiction other than Israel. The courts located in Tel-Aviv, Israel shall have sole and exclusive jurisdiction over any dispute arising in connection with these Terms of Use. You and Porat Group hereby expressly consent to the personal jurisdiction of Tel-Aviv\'s courts in Israel, and expressly waive any right to object to such personal jurisdiction or the convenience of such forum.\r\n\r\nSubject to any applicable law, all disputes between you and Porat Group shall only be resolved on an individual basis and you shall not have the right to bring any claim against Porat Group as a plaintiff or a member of a class, consolidated or representative actions (or any other legal proceedings conducted by a group or by representatives on behalf of others). ANY CLAIM RELATED TO THESE TERMS OF USE MUST BE BROUGHT WITHIN ONE YEAR. THE ONE-YEAR PERIOD BEGINS ON THE DATE WHEN THE CLAIM FIRST COULD BE FILED. IF IT IS NOT FILED, THEN THAT CLAIM IS PERMANENTLY BARRED. THIS APPLIES TO YOU AND YOUR SUCCESSORS.\r\n\r\n<strong><u>Modifications</u></strong>\r\n\r\nPorat Group may amend the Content, or otherwise change or terminate the availability of the Website and/or modify any part of these Terms of Use with or without prior notice at any time and in any manner. Your continued use of the Website following the implementation of any changes to these Terms of Use constitutes acceptance of those changes, which will apply to your continued use of the Website. You are encouraged to revisit the Terms of User and Privacy Policy regularly in order to be fully apprised of your rights and obligations in connection with your use of the Website.\r\n\r\n<strong> </strong>\r\n\r\n<em>Last updated: November 1, 2020</em>\r\n\r\n&nbsp;', 'Terms Of Use', '', 'inherit', 'closed', 'closed', '', '3601-revision-v1', '', '', '2020-11-29 20:59:30', '2020-11-29 17:59:30', '', 3601, 'https://www.porat.com/3601-revision-v1/', 0, 'revision', '', 0),
(3659, 6, '2020-11-30 09:00:22', '2020-11-30 06:00:22', '<div id=\"page-wrapper\">\n<div id=\"page\" class=\"container page\">\n<div id=\"columns\" class=\"columns clearfix\">\n<div id=\"content-column\" class=\"content-column\" role=\"main\">\n<div class=\"content-inner\"><section id=\"main-content\">\n<div id=\"content\" class=\"region\">\n<div id=\"block-system-main\" class=\"block block-system no-title\">\n<div class=\"panel-display panel-3col-33-stacked clearfix\">\n<div class=\"center-wrapper\">\n<div class=\"panel-panel panel-col\">\n<div class=\"inside\"><section class=\"panel-pane pane-token pane-node-body block\">\n<div class=\"block-inner clearfix\">\n<div class=\"block-content\">\n\nPorat Group provides a range of legal services, as well as advisory services, specifically for the growing, lucrative international gaming industry. For clients in the gaming, social gaming, fantasy sports, gambling and sports betting industry this is vital, since the legal challenges, as well as the opportunities in the industry are often very unique.\n\nOur legal services related to the gaming industry include, but are not limited to:\n<ul>\n 	<li><a href=\"https://www.porat.com/gaming-regulation/\">Gaming regulation</a> in a number of jurisdictions.</li>\n 	<li>Commercial advice and consultation.</li>\n 	<li>Consulting related to transactions and M&amp;As in the industry.</li>\n 	<li>Consultation and legal services for gaming startups.</li>\n 	<li><a href=\"https://www.porat.com/legal/labor-law/\">Labor law</a> related issues.</li>\n 	<li>Protecting and defending intellectual property.</li>\n 	<li>Legal and financial due diligence.</li>\n 	<li>Corporate and tax structuring.</li>\n 	<li>Gaming litigation.</li>\n 	<li>Disputes with partners, affiliates, clients and others.</li>\n 	<li><a href=\"https://www.porat.com/legal/banking-payments/\">Payment solutions and banking solutions</a>.</li>\n 	<li>Drafting and amending contracts, agreements and other vital documents, such as terms and conditions of use and data protection guidelines.</li>\n</ul>\nAdditionally, Porat Group has valuable industry connections in most major gaming hubs, from the UK to Malta, other European countries, <a href=\"https://www.porat.com/media-affiliate-gaming-betting-and-sports-betting-in-the-us/\">the United States</a>, several Asian countries and more, as well as solutions for the payment infrastructure that comes with running a successful gaming company. Our network consists of both regulators, local lawyers and law firms, business consultants, financers and others, and all our clients can benefit from the business opportunities the network entails.\n\nKnowing that many of our clients are active not within one, but multiple segments of the industry, we naturally make sure to tailor both legal and consulting services for each clients’ specific needs, taking into account the markets they operate in, intend to operate in, the specific activities in question, ownership aspects, plans for the future and more. We recommend all prospective gaming clients to contact us for a free, non-binding consultation in order to discuss their specific circumstances in order to recommend a course of action that fits them best.\n\n</div>\n</div>\n</section></div>\n</div>\n</div>\n</div>\n</div>\n</div>\n</section></div>\n</div>\n</div>\n</div>\n</div>', 'Gaming & Gambling', '', 'inherit', 'closed', 'closed', '', '431-autosave-v1', '', '', '2020-11-30 09:00:22', '2020-11-30 06:00:22', '', 431, 'https://www.porat.com/431-autosave-v1/', 0, 'revision', '', 0),
(3660, 6, '2020-11-30 09:13:51', '2020-11-30 06:13:51', 'The litigation lawyers at Porat Group assist our clients with recovering compensation in property damage claims related to a range of different areas, such as real estate properties (including construction and rentals), product liability, fraud, consumer fraud, slander, electrical and technical failures, insurance claims and many other areas.\n\nOn top of pursuing damages and claims for our clients, and sometimes their companies, we also provide representation for individuals and companies who have lawsuits related to property damages filed against them.\nOur property damages attorneys can also assist with providing qualified expert witnesses in order to\n\nexplain the case and damages in question, as well as with identifying potential defendants and plaintiffs. Although our law firm mostly represents large companies, corporations, buildings and high net worth individuals for large scale property damage litigation cases, we do take small cases as well.\n\nIn order to reach the best possible outcome for the client in cases of property damage litigation, we recommend involving us from the very beginning, as our lawyers can then assist with all the aspects needed for a successful case, from early investigations, evaluations, protection of the assets, preserving evidence and more. However, our lawyers do accept clients whose property damages claims have already escalated, including to prosecution.\n\nPorat Group offers a free initial consultation to every prospective client, which is why we recommend you to <a href=\"https://www.porat.com/contact/\">contact us</a> online or over the phone in order to discuss your claim and the risks and possibilities involved in your particular case with one of our experienced lawyers in order to get started and help you decide whether or not Porat Group could be the right law firm for you.', 'Property damages', '', 'inherit', 'closed', 'closed', '', '3404-autosave-v1', '', '', '2020-11-30 09:13:51', '2020-11-30 06:13:51', '', 3404, 'https://www.porat.com/3404-autosave-v1/', 0, 'revision', '', 0),
(3661, 6, '2020-11-30 09:11:43', '2020-11-30 06:11:43', 'The litigation lawyers at Porat Group assist our clients with recovering compensation in property damage claims related to a range of different areas, such as real estate properties (including construction and rentals), product liability, fraud, consumer fraud, slander, electrical and technical failures, insurance claims and many other areas.\r\n\r\nOn top of pursuing damages and claims for our clients, and sometimes their companies, we also provide representation for individuals and companies who have lawsuits related to property damages filed against them.\r\nOur property damages attorneys can also assist with providing qualified expert witnesses in order to\r\n\r\nexplain the case and damages in question, as well as with identifying potential defendants and plaintiffs. Although our law firm mostly represents large companies, corporations, buildings and high net worth individuals for large scale property damage litigation cases, we do take small cases as well.\r\n\r\nIn order to reach the best possible outcome for the client in cases of property damage litigation, we recommend involving us from the very beginning, as our lawyers can then assist with all the aspects needed for a successful case, from early investigations, evaluations, protection of the assets, preserving evidence and more. However, our lawyers do accept clients whose property damages claims have already escalated, including to prosecution.\r\n\r\nPorat Group offers a free initial consultation to every prospective client, which is why we recommend you to contact us online or over the phone in order to discuss your claim and the risks and possibilities involved in your particular case with one of our experienced lawyers in order to get started and help you decide whether or not Porat Group could be the right law firm for you.', 'Property damages', '', 'inherit', 'closed', 'closed', '', '3404-revision-v1', '', '', '2020-11-30 09:11:43', '2020-11-30 06:11:43', '', 3404, 'https://www.porat.com/3404-revision-v1/', 0, 'revision', '', 0),
(3662, 6, '2020-11-30 09:13:55', '2020-11-30 06:13:55', 'The litigation lawyers at Porat Group assist our clients with recovering compensation in property damage claims related to a range of different areas, such as real estate properties (including construction and rentals), product liability, fraud, consumer fraud, slander, electrical and technical failures, insurance claims and many other areas.\r\n\r\nOn top of pursuing damages and claims for our clients, and sometimes their companies, we also provide representation for individuals and companies who have lawsuits related to property damages filed against them.\r\nOur property damages attorneys can also assist with providing qualified expert witnesses in order to\r\n\r\nexplain the case and damages in question, as well as with identifying potential defendants and plaintiffs. Although our law firm mostly represents large companies, corporations, buildings and high net worth individuals for large scale property damage litigation cases, we do take small cases as well.\r\n\r\nIn order to reach the best possible outcome for the client in cases of property damage litigation, we recommend involving us from the very beginning, as our lawyers can then assist with all the aspects needed for a successful case, from early investigations, evaluations, protection of the assets, preserving evidence and more. However, our lawyers do accept clients whose property damages claims have already escalated, including to prosecution.\r\n\r\nPorat Group offers a free initial consultation to every prospective client, which is why we recommend you to <a href=\"https://www.porat.com/contact/\">contact us</a> online or over the phone in order to discuss your claim and the risks and possibilities involved in your particular case with one of our experienced lawyers in order to get started and help you decide whether or not Porat Group could be the right law firm for you.', 'Property damages', '', 'inherit', 'closed', 'closed', '', '3404-revision-v1', '', '', '2020-11-30 09:13:55', '2020-11-30 06:13:55', '', 3404, 'https://www.porat.com/3404-revision-v1/', 0, 'revision', '', 0),
(3663, 6, '2020-11-30 09:23:24', '2020-11-30 06:23:24', 'As a corporate law firm Porat Group has extensive experience in corporate litigation, as well as arbitration and resolution of corporate disputes of various kinds. We take on everything from small domestic litigation cases within Israel to complex international cases related to commercial litigation law.\n\nSome of our most sought-after corporate litigation services are related to:\n\nBreaches of contract\nInterpretation of contracts and documents\nReal estate disputes\nCopyright and intellectual property disputes\nWarranties\nDisputes related to mergers and acquisitions\nDisputes related to joint ventures\nShareholder disputes.\nWe always strive to offer tailor made corporate litigation services depending on each clients’ specific needs and circumstances.\n\nOur commercial litigation law firm also offers preventive advice, with the aim of avoiding escalation of disputes and prevent litigation entirely, if appropriate, as well as alternative dispute resolution services, such as arbitration or mediation.\n\nPorat Group’s corporate litigators are professional and creative, with an “out of the box” way of thinking, always placing our clients’ business goals and strategies first. We routinely handle cases related to cross-border litigation with great success, due to our extensive international professional network.\n\nOur aim is always to find a fast, effective, yet long-lasting solution to each dispute, as well as to do it in the most cost-effective way for our client.\n\nYou are welcome to <a href=\"https://www.porat.com/contact/\">contact us</a> for an offer on how we can tailor our services for your specific needs if you are in need of a corporate litigation attorney. Porat Group offers free consultations for smaller companies and large international corporations alike that will help you understand what services we can offer you and your company specifically.', 'Corporate litigation', '', 'inherit', 'closed', 'closed', '', '3394-autosave-v1', '', '', '2020-11-30 09:23:24', '2020-11-30 06:23:24', '', 3394, 'https://www.porat.com/3394-autosave-v1/', 0, 'revision', '', 0),
(3664, 6, '2020-11-30 09:24:36', '2020-11-30 06:24:36', 'As a corporate law firm Porat Group has extensive experience in corporate litigation, as well as arbitration and resolution of corporate disputes of various kinds. We take on everything from small domestic litigation cases within Israel to complex international cases related to commercial litigation law.\r\n\r\nSome of our most sought-after corporate litigation services are related to:\r\n<ul>\r\n 	<li>Breaches of contract</li>\r\n 	<li>Interpretation of contracts and documents</li>\r\n 	<li>Real estate disputes</li>\r\n 	<li>Copyright and intellectual property disputes</li>\r\n 	<li>Warranties</li>\r\n 	<li>Disputes related to mergers and acquisitions</li>\r\n 	<li>Disputes related to joint ventures</li>\r\n 	<li>Shareholder disputes.</li>\r\n</ul>\r\nOur commercial litigation law firm also offers preventive advice, with the aim of avoiding escalation of disputes and prevent litigation entirely, if appropriate, as well as alternative dispute resolution services, such as arbitration or mediation.\r\n\r\nPorat Group’s corporate litigators are professional and creative, with an “out of the box” way of thinking, always placing our clients’ business goals and strategies first. We routinely handle cases related to cross-border litigation with great success, due to our extensive international professional network.\r\n\r\nOur aim is always to find a fast, effective, yet long-lasting solution to each dispute, as well as to do it in the most cost-effective way for our client.\r\n\r\nYou are welcome to <a href=\"https://www.porat.com/contact/\">contact us</a> for an offer on how we can tailor our services for your specific needs if you are in need of a corporate litigation attorney. Porat Group offers free consultations for smaller companies and large international corporations alike that will help you understand what services we can offer you and your company specifically.', 'Corporate litigation', '', 'inherit', 'closed', 'closed', '', '3394-revision-v1', '', '', '2020-11-30 09:24:36', '2020-11-30 06:24:36', '', 3394, 'https://www.porat.com/3394-revision-v1/', 0, 'revision', '', 0),
(3665, 6, '2020-11-30 11:24:20', '2020-11-30 08:24:20', 'The European Union is one of the most influential and strongest markets in the world, now encompassing 28 countries. The EU is therefore one of the major hubs for global trade, and as a result: an attractive region for business of all kinds. It is therefore no surprise that many individuals and companies wish to invest in Malta, improving both their own and their company’s competitiveness, as well as taking advantage of the many opportunities not only the country itself, but the EU as a whole entails.\n\nAdditionally, Malta has a large infrastructure for foreign business owners and expats, as well as an attractive scheme for those wishing to become citizens through investment.\n<h2>\nHow does this program work?</h2>\nThe Individual Investor Program or IIP for short, is a modern citizenship by investment program, aimed at ultra-high net individuals as well as their families, no matter their origin. Foreigners can become citizens of Malta through the IIP program.\n<h2>\nWhy choose Malta?</h2>\nSome of the reasons include:\n<ul>\n 	<li>Great geographical location, between Europe, Africa and the Middle East.</li>\n 	<li>Excellent transportation options to the country, especially through air.</li>\n 	<li>The country is a respected EU state.</li>\n 	<li>English is an official language, as well as Maltese.</li>\n 	<li>Visa free travel to more than 160 countries.</li>\n 	<li>No restrictions on dual citizenship.</li>\n 	<li>Double taxation treaties with more than 60 countries worldwide.</li>\n</ul>\n<h2>What are the requirements?</h2>\nThe IIP requires an economic investment on behalf of the applicant according to the following:\na. For main applicant a Contribution of €650,000 ;\nb. For a spouse and for each child under 18 years of age an additional Contribution of €25,000; and/or,\nc. For children between 18 and 26 and for parents above 55 years of age a Contribution of €50,000;\n\nAdditionally, ALL of the following investments (Investments) and other obligations must be satisfied:\na. The acquisition of property in Malta valued at least €350,000 and which must be held for at least 5 years or a lease of a residential property with a rental of at least €16,000 per annum also held for 5 years (no subletting is permissible);\nb. Investment of €150,000 in a prescribed investment as required by Identity Malta Agency and which must be held for five years or more;\nc. Global Insurance policy with medical expense cover amounting to €50,000 for each applicant;\nd. Residence of Malta for one year prior to the certificate of naturalization being issued;\ne. Oath;\nf. Clean background with no criminal record.\n\nDue diligence fees: €7,500 for main applicant, €3,000 for spouses and other dependents; €5,000 for minors (13 to 17 only).\n<h2>Procedure</h2>\nThe IIP is operated by Identity Malta. Applications must be made by prescribed forms and accompanied by the appropriate fees, as well as any additional required documentation (birth certificate, passport copies and documents related to applicant’s health).\n\nOnly once the application has been approved will the applicant be required to comply with the Investments obligations mentioned above.\n\nA certificate of Naturalisation will be granted within one year from the day of the submission of the application.\n<h2>\nTaxation for Maltese Citizens</h2>\nThe following taxation rules applies to all Maltese citizens:\n<ul>\n 	<li>Income tax at progressive rates up to 35%;</li>\n 	<li>Tax on worldwide income;</li>\n 	<li>VAT at 18%</li>\n</ul>\n(Please note that the tax rates might be different for citizens who are domiciled outside Malta)\n<h2>\nHow can Porat Group help you gain your Maltese passport through the program?</h2>\nPorat Group is a multilingual law firm with professional staff consisting of both lawyers and interns with in-depth knowledge and experience of all aspects of international law, in various jurisdictions, including Malta.\n\nWe have a significant presence in the international arena as well as a large worldwide network of partners, agents and affiliates in various industries, ranging from banks, financial institutions, law firms, international accountants, tax advisors and auditors, as well as regulatory bodies for various industries. We are therefore well positioned for helping our clients apply for the Maltese Citizenship program.\n\nFor more information on how we can help you specifically, do not hesitate to <a href=\"https://www.porat.com/contact/\">contact us</a> for a consultation.', 'Maltese Citizenship', '', 'inherit', 'closed', 'closed', '', '3308-autosave-v1', '', '', '2020-11-30 11:24:20', '2020-11-30 08:24:20', '', 3308, 'https://www.porat.com/3308-autosave-v1/', 0, 'revision', '', 0),
(3666, 6, '2020-11-30 11:25:00', '2020-11-30 08:25:00', 'The European Union is one of the most influential and strongest markets in the world, now encompassing 28 countries. The EU is therefore one of the major hubs for global trade, and as a result: an attractive region for business of all kinds. It is therefore no surprise that many individuals and companies wish to invest in Malta, improving both their own and their company’s competitiveness, as well as taking advantage of the many opportunities not only the country itself, but the EU as a whole entails.\r\n\r\nAdditionally, Malta has a large infrastructure for foreign business owners and expats, as well as an attractive scheme for those wishing to become citizens through investment.\r\n<h2>\r\nHow does this program work?</h2>\r\nThe Individual Investor Program or IIP for short, is a modern citizenship by investment program, aimed at ultra-high net individuals as well as their families, no matter their origin. Foreigners can become citizens of Malta through the IIP program.\r\n<h2>\r\nWhy choose Malta?</h2>\r\nSome of the reasons include:\r\n<ul>\r\n 	<li>Great geographical location, between Europe, Africa and the Middle East.</li>\r\n 	<li>Excellent transportation options to the country, especially through air.</li>\r\n 	<li>The country is a respected EU state.</li>\r\n 	<li>English is an official language, as well as Maltese.</li>\r\n 	<li>Visa free travel to more than 160 countries.</li>\r\n 	<li>No restrictions on dual citizenship.</li>\r\n 	<li>Double taxation treaties with more than 60 countries worldwide.</li>\r\n</ul>\r\n<h2>What are the requirements?</h2>\r\nThe IIP requires an economic investment on behalf of the applicant according to the following:\r\na. For main applicant a Contribution of €650,000 ;\r\nb. For a spouse and for each child under 18 years of age an additional Contribution of €25,000; and/or,\r\nc. For children between 18 and 26 and for parents above 55 years of age a Contribution of €50,000;\r\n\r\nAdditionally, ALL of the following investments (Investments) and other obligations must be satisfied:\r\na. The acquisition of property in Malta valued at least €350,000 and which must be held for at least 5 years or a lease of a residential property with a rental of at least €16,000 per annum also held for 5 years (no subletting is permissible);\r\nb. Investment of €150,000 in a prescribed investment as required by Identity Malta Agency and which must be held for five years or more;\r\nc. Global Insurance policy with medical expense cover amounting to €50,000 for each applicant;\r\nd. Residence of Malta for one year prior to the certificate of naturalization being issued;\r\ne. Oath;\r\nf. Clean background with no criminal record.\r\n\r\nDue diligence fees: €7,500 for main applicant, €3,000 for spouses and other dependents; €5,000 for minors (13 to 17 only).\r\n<h2>Procedure</h2>\r\nThe IIP is operated by Identity Malta. Applications must be made by prescribed forms and accompanied by the appropriate fees, as well as any additional required documentation (birth certificate, passport copies and documents related to applicant’s health).\r\n\r\nOnly once the application has been approved will the applicant be required to comply with the Investments obligations mentioned above.\r\n\r\nA certificate of Naturalisation will be granted within one year from the day of the submission of the application.\r\n<h2>\r\nTaxation for Maltese Citizens</h2>\r\nThe following taxation rules applies to all Maltese citizens:\r\n<ul>\r\n 	<li>Income tax at progressive rates up to 35%;</li>\r\n 	<li>Tax on worldwide income;</li>\r\n 	<li>VAT at 18%</li>\r\n</ul>\r\n(Please note that the tax rates might be different for citizens who are domiciled outside Malta)\r\n<h2>\r\nHow can Porat Group help you gain your Maltese passport through the program?</h2>\r\nPorat Group is a multilingual law firm with professional staff consisting of both lawyers and interns with in-depth knowledge and experience of all aspects of international law, in various jurisdictions, including Malta.\r\n\r\nWe have a significant presence in the international arena as well as a large worldwide network of partners, agents and affiliates in various industries, ranging from banks, financial institutions, law firms, international accountants, tax advisors and auditors, as well as regulatory bodies for various industries. We are therefore well positioned for helping our clients apply for the Maltese Citizenship program.\r\n\r\nFor more information on how we can help you specifically, do not hesitate to <a href=\"https://www.porat.com/contact/\">contact us</a> for a consultation.', 'Maltese Citizenship', '', 'inherit', 'closed', 'closed', '', '3308-revision-v1', '', '', '2020-11-30 11:25:00', '2020-11-30 08:25:00', '', 3308, 'https://www.porat.com/3308-revision-v1/', 0, 'revision', '', 0),
(3667, 6, '2020-11-30 11:45:00', '2020-11-30 08:45:00', 'For all those in, or looking to get in to the wide array of possibilities of the investment funds industry, the lawyers at Porat Group are experienced in assisting with, as well as advice on all legal matters related to this industry. We are a leading law firm when it comes to funds, with a variety of clients active in the sector.\n\nSome of the services we provide for investment funds are:\n<ul>\n 	<li><strong>Fund structuring</strong>: Personalized recommendations and practical help with structuring the fund according to the client’s business, needs and specific activities.</li>\n</ul>\n<ul>\n 	<li><strong>Fund incorporation</strong>: Assistance with incorporating funds worldwide; in offshore countries, the EU, Asia, Oceania and North America.</li>\n</ul>\n<ul>\n 	<li><strong>International banking services</strong>: Managing and overseeing the opening of bank accounts worldwide for funds looking to open a bank account abroad. Customized recommendations for banks that suit your business.</li>\n</ul>\n<ul>\n 	<li><strong>Legal advice and litigation for processes with governmental authorities</strong>: Such as the FCA in the UK, AMF in France, Cysec in Cyprus, Consob in Italy, SEC in the USA, BaFin in Germany and others.</li>\n</ul>\n<ul>\n 	<li><strong>Assistance with commercial agreements and contracts</strong>: All contracts and legal documents that may be relevant to fund formation and fund activities, such as offering memorandum, broker agreements, administration agreements, management agreements, depositary / custodian agreements and any other agreement which might be required for your business interactions.</li>\n</ul>\n<ul>\n 	<li><strong>Labor Law Advice and guidance on Employee Related issues</strong>.</li>\n</ul>\n<ul>\n 	<li><strong>Legal opinions for funds’ activities</strong>.</li>\n</ul>\n&nbsp;\n\n<strong>What do we do differently?</strong>\n\nDue to our connections and remarkable network, based on long and fruitful relationships with various players in the industry, we can often help clients get results faster, with better terms and even help them accomplish things they would not have been able to do by themselves.\n\nWe are proud of the fact that we are seen as a leading law firm for not only legal services for funds, but for all matters related to the fund industry. So for all matters, big and small, you are welcome to contact us for a non-binding, free consultation in order to see if we may offer you the same professional assistance that we are already providing many others in the industry.\n\nAll our rates for legal services for funds are highly competitive and you always get a quote beforehand, since we do not believe in any hidden or additional fees.', 'Investment Funds', '', 'inherit', 'closed', 'closed', '', '3304-autosave-v1', '', '', '2020-11-30 11:45:00', '2020-11-30 08:45:00', '', 3304, 'https://www.porat.com/3304-autosave-v1/', 0, 'revision', '', 0),
(3668, 6, '2020-11-30 11:46:02', '2020-11-30 08:46:02', 'For all those in, or looking to get in to the wide array of possibilities of the investment funds industry, the lawyers at Porat Group are experienced in assisting with, as well as advice on all legal matters related to this industry. We are a leading law firm when it comes to funds, with a variety of clients.\r\n\r\nSome of the services we provide for investment funds are:\r\n<ul>\r\n 	<li><strong>Fund structuring</strong>: Personalized recommendations and practical help with structuring the fund according to the client’s business, needs and specific activities.</li>\r\n</ul>\r\n<ul>\r\n 	<li><strong>Fund incorporation</strong>: Assistance with incorporating funds worldwide; in offshore countries, the EU, Asia, Oceania and North America.</li>\r\n</ul>\r\n<ul>\r\n 	<li><strong>International banking services</strong>: Managing and overseeing the opening of bank accounts worldwide for funds looking to open a bank account abroad. Customized recommendations for banks that suit your business.</li>\r\n</ul>\r\n<ul>\r\n 	<li><strong>Legal advice and litigation for processes with governmental authorities</strong>: Such as the FCA in the UK, AMF in France, Cysec in Cyprus, Consob in Italy, SEC in the USA, BaFin in Germany and others.</li>\r\n</ul>\r\n<ul>\r\n 	<li><strong>Assistance with commercial agreements and contracts</strong>: All contracts and legal documents that may be relevant to fund formation and fund activities, such as offering memorandum, broker agreements, administration agreements, management agreements, depositary / custodian agreements and any other agreement which might be required for your business interactions.</li>\r\n</ul>\r\n<ul>\r\n 	<li><strong>Labor Law Advice and guidance on Employee Related issues</strong>.</li>\r\n</ul>\r\n<ul>\r\n 	<li><strong>Legal opinions for funds’ activities</strong>.</li>\r\n</ul>\r\n&nbsp;\r\n\r\n<strong>What does Porat Group do differently?</strong>\r\n\r\nDue to Porat Group\'s connections and remarkable network, based on long and fruitful relationships with various players in the industry, we can often help clients get results faster, with better terms and even help them accomplish things they would not have been able to do by themselves.\r\n\r\nWe are proud of the fact that we are seen as a leading law firm for not only legal services for funds, but for all matters related to the fund industry. So for all matters, big and small, you are welcome to contact us for a non-binding, free consultation in order to see if we may offer you the same professional assistance that we are already providing many others in the industry.\r\n\r\nAll our rates for legal services for funds are highly competitive and you always get a quote beforehand, since we do not believe in any hidden or additional fees.', 'Investment Funds', '', 'inherit', 'closed', 'closed', '', '3304-revision-v1', '', '', '2020-11-30 11:46:02', '2020-11-30 08:46:02', '', 3304, 'https://www.porat.com/3304-revision-v1/', 0, 'revision', '', 0);
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(3669, 6, '2020-11-30 11:49:23', '2020-11-30 08:49:23', 'Any person that has created a will has of course put down in writing how they intend to dispose of their assets once they are gone, but unfortunately, inheritance disputes and will disputes are still fairly common. Due to this, there is a quite high demand in most countries for legal services related to interpreting wills, different laws on inheritance, contesting wills as well as administrating estates, and Israel is of course no exception.\n\nPorat Group has lawyers with significant experience in family and inheritance law, and is therefore able to help and represent anyone who believes they have reasons to contest a will or is facing other types of family disputes over inheritance.\n\nKnowledgeable about both Israeli inheritance law (the inheritance law in Israel has significant differences compared to inheritance laws in many other countries) and various international inheritance laws, the lawyers at our law firm are both able to help you understand if you have a claim and/or grounds for contesting a will, negotiate with the other parties and heirs and, if needed, with litigation.\n\nSome reasons heirs turn to us in order to get assistance with interpreting or contesting a will are:\n<ul>\n 	<li>Allegations of undue influence by another party</li>\n 	<li>Lack of mental capacity of the testator of the will</li>\n 	<li>Abuse of power of attorney</li>\n 	<li>Fraud</li>\n 	<li>Executor misconduct</li>\n</ul>\nBut there may be various other reasons to attempt or to contest a will on top of these common reasons.\n\nWe take pride in relentlessly pursuing the rights of our clients, while taking into account the delicate situation the family is often in at the same time, as well as being able to take on both complex and complicated cases related to inheritance law. While these cases are often highly emotionally charged, a professional and experienced bystander such as one of our lawyers is often able to bring some common sense and a more practical approach to the case, leading to it being resolved in an effective and efficient way, instead of being prolonged endlessly due to litigation. Our main goal is always to try to do everything possible in order to avoid an inheritance dispute in the first place, and only after we are sure that this is not possible, do we research alternative courses of action.\n\nIf you have questions regarding our services related to inheritance disputes and/or are in the middle of a troubling inheritance dispute, contact our law firm today, in order to book a free consultation with one of our lawyers regarding your rights and what you can do in order to pursue them.', 'Inheritance disputes', '', 'inherit', 'closed', 'closed', '', '3398-autosave-v1', '', '', '2020-11-30 11:49:23', '2020-11-30 08:49:23', '', 3398, 'https://www.porat.com/3398-autosave-v1/', 0, 'revision', '', 0),
(3670, 6, '2020-11-30 11:50:36', '2020-11-30 08:50:36', 'Any person that has created a will has of course put down in writing how they intend to dispose of their assets once they are gone, but unfortunately, inheritance disputes and will disputes are still fairly common. Due to this, there is a quite high demand in most countries for legal services related to interpreting wills, different laws on inheritance, contesting wills as well as administrating estates, and Israel is of course no exception.\r\n\r\nPorat Group has lawyers with significant experience in family and inheritance law, and is therefore able to help and represent anyone who believes they have reasons to contest a will or is facing other types of family disputes over inheritance.\r\n\r\nKnowledgeable about both Israeli inheritance law (the inheritance law in Israel has significant differences compared to inheritance laws in many other countries) and various international inheritance laws, the lawyers at our law firm are both able to help you understand if you have a claim and/or grounds for contesting a will, negotiate with the other parties and heirs and, if needed, with litigation.\r\n\r\nSome reasons heirs turn to us in order to get assistance with interpreting or contesting a will are:\r\n<ul>\r\n 	<li>Allegations of undue influence by another party</li>\r\n 	<li>Lack of mental capacity of the testator of the will</li>\r\n 	<li>Abuse of power of attorney</li>\r\n 	<li>Fraud</li>\r\n 	<li>Executor misconduct</li>\r\n</ul>\r\nBut there may be various other reasons to attempt or to contest a will on top of these common reasons.\r\n\r\nWe take pride in relentlessly pursuing the rights of our clients, while taking into account the delicate situation the family is often in at the same time, as well as being able to take on both complex and complicated cases related to inheritance law. While these cases are often highly emotionally charged, a professional and experienced bystander such as one of our lawyers is often able to bring some common sense and a more practical approach to the case, leading to it being resolved in an effective and efficient way, instead of being prolonged endlessly due to litigation. Our main goal is always to try to do everything possible in order to avoid an inheritance dispute in the first place, and only after we are sure that this is not possible, do we research alternative courses of action.\r\n\r\nIf you have questions regarding our services related to inheritance disputes and/or are in the middle of a troubling inheritance dispute, contact our law firm today, in order to book a free consultation with one of our lawyers regarding your rights and what you can do in order to pursue them.', 'Inheritance disputes', '', 'inherit', 'closed', 'closed', '', '3398-revision-v1', '', '', '2020-11-30 11:50:36', '2020-11-30 08:50:36', '', 3398, 'https://www.porat.com/3398-revision-v1/', 0, 'revision', '', 0),
(3672, 6, '2020-11-30 12:18:13', '2020-11-30 09:18:13', 'Due to our understanding of the realities of doing business in a highly competitive international market and the operation of workplace relations systems, we are able to work with our clients to ensure they achieve optimal results while taking into account both their business needs and legal realities. Our employment advice is practical, thorough, swift and effective.\n\nPorat Group\'s employment lawyers advise clients in a variety of practice areas including, but not limited to:\n<ul>\n 	<li>Educational institutions</li>\n 	<li>Hi-tech</li>\n 	<li>Media</li>\n 	<li>Healthcare</li>\n 	<li>Telecommunications</li>\n 	<li>Transport</li>\n 	<li>Energy</li>\n 	<li>High-tech</li>\n 	<li>Start-up</li>\n 	<li>Finance</li>\n 	<li>Industrial</li>\n 	<li>Employee committees</li>\n</ul>\nOur legal team provides innovative legal solutions to business\' challenges in the dynamic field of labor law. We can advise and assist our clients with, among other things:\n<ul>\n 	<li>The labor and employment implications of complex M&amp;A transactions;</li>\n 	<li>Draft employment agreements and human resources policies (including multinational corporate benefit plans such as stock option plans and bonus and commission plans);</li>\n 	<li>Advice on employment compensation and benefit issues including non-competition, confidentiality and trademarks covenants, termination and separation agreements</li>\n 	<li>Other issues concerning employment law and intellectual property.</li>\n</ul>\nWe provide representation in all types of labor/employment disputes, negotiations, arbitration and litigation including before the local labor authorities and all labor tribunals in complex disputes.\nThe personal attention and prompt responsiveness provided by our team has been and will remain the bread-and-butter of our practice.\n<h2>Immigration and Foreign Expert Relocation</h2>\nOur legal team offers legal advice and guidance through the complex process of relocating foreign experts to Israel or abroad.\n\nOur team will guide you through every step of the  process up unto and including the issuance of permits fully compliant with the provisions of the law so that you won\'t face violations, fines or any other economic exposure. Our team is experienced working with the governmental authorities related to the immigration process.\n\nAfter you receive the permits, our team will continue to advise you on other labor issues related to the foreign employees including permits extensions, employment agreements, social benefits and more.', 'Labor Law', 'Porat Group\'s legal team provides both one time and on-going legal advice and services on a wide range of employment-related issues for both Israeli and international companies, with a special orientation to our client\'s business fields.', 'inherit', 'closed', 'closed', '', '424-autosave-v1', '', '', '2020-11-30 12:18:13', '2020-11-30 09:18:13', '', 424, 'https://www.porat.com/424-autosave-v1/', 0, 'revision', '', 0),
(3673, 6, '2020-11-30 12:30:37', '2020-11-30 09:30:37', 'This has naturally created a range of complex legal issues and dilemmas, from regulation and regulatory enforcement to compliance, corporate law, taxation issues, money laundering issues and many others, that are specific to this industry. Additionally, cryptocurrencies, as well as many aspects related to them, aren’t even properly regulated in many jurisdictions.\n\nFor this reason it is vital for cryptocurrency and blockchain companies, as well as individuals involved in this sector, to use experienced legal counsel with an understanding of not only the industry, but of the technology involved in it.\n<h2>Why Porat Group?</h2>\nThe cryptocurrencies and blockchain team at Porat Group has the expertise and acumen to successfully guide you through this increasingly complicated world, with all the legal dilemmas it entails.\n\nIf you are looking to start a cryptocurrency related business and do not really know where to start, and what you need to do in order to reach this goal, we also provide a full range of services of guidance for just that, for this specific industry.\n\nAt Porat Group we have a thorough understanding and expertise of all existing regulatory schemes applicable for cryptocurrency related businesses. Additionally, we constantly follow all proposals to regulate cryptocurrency activities worldwide. Therefore, we are able to assist our clients with all regulatory and licensing procedures in all jurisdictions worldwide.\n\nPorat Group also takes pride in the extensive and professional network all around the globe that we have to help us with all cryptocurrency and blockchain related matters. Our cryptocurrency lawyers also work closely with other departments within Porat Law, such as taxation experts, commercial law and business advisors, lawyers with startups as their speciality and more, in order to be able to provide a one stop shop for all our cryptocurrency client’s needs.\n\nSome of the most sought after legal services related to the cryptocurrency industry\n\nAmong the most popular services we provide for this industry are:\n<ul>\n 	<li>Corporate Structuring – worldwide company formations</li>\n 	<li>Legal and business setup, and ongoing support – Crypto Exchanges, Crypto Funds, Blockchain Technology</li>\n 	<li>Accounts opening, wire transfers, and credit card processing.</li>\n 	<li>Commercial agreements</li>\n 	<li>Smart Contracts</li>\n 	<li>Digital Assets</li>\n 	<li>Licensing and technology agreements</li>\n 	<li>Regulation and licensing requirements related to cryptocurrencies</li>\n 	<li>Compliance consulting</li>\n 	<li>Anti-money laundering consulting</li>\n 	<li>Consulting for cryptocurrency audits</li>\n 	<li>Privacy policies and data security policies</li>\n 	<li>Consulting for investment deals</li>\n 	<li>Startup legal services and consulting</li>\n 	<li>Planning and implementing partial or full business strategies</li>\n 	<li>Consultations for merchants looking to accept cryptocurrencies as a payment method</li>\n 	<li>Consultations with regards to setting up cryptocurrency exchanges</li>\n</ul>\nHowever, we believe that each client has different needs and circumstances, which is why we always provide a tailor made solution for each of our clients.\n<h2>Pricing for our cryptocurrency legal services</h2>\nPorat Group always provides clients with a quote beforehand, and does not believe in any hidden or additional fees for our services, at any stage of the process.\n\nSince cryptocurrencies and the blockchain are a passion for many of us working at the firm and we are committed to the industry, we also accept payment for our services in the following cryptocurrencies: Bitcoin and ETH. (If you are interested in using another altcoin as payment currency, please contact us in advance to discuss this)', 'Commercial and Technology', 'For all those already in, or looking to get involved into the fast evolving cryptocurrency market, Nir Porat & Co., Law Firm are experienced in assisting with, as well as advise on, all legal and commercial matters related to this exiting and growing market. The crypto currencies’ eco system is constantly expanding, and includes many players these days. The crypto currencies system can be categorized under 4 core sectors, each bearing its own characteristics and function within the cryptocurrency world.', 'inherit', 'closed', 'closed', '', '613-autosave-v1', '', '', '2020-11-30 12:30:37', '2020-11-30 09:30:37', '', 613, 'https://www.porat.com/613-autosave-v1/', 0, 'revision', '', 0),
(3674, 6, '2020-11-30 12:34:48', '2020-11-30 09:34:48', '', 'ABOUT PORAT BUSINESS', '', 'inherit', 'closed', 'closed', '', '583-revision-v1', '', '', '2020-11-30 12:34:48', '2020-11-30 09:34:48', '', 583, 'https://www.porat.com/583-revision-v1/', 0, 'revision', '', 0),
(3675, 6, '2020-11-30 12:37:52', '2020-11-30 09:37:52', '', 'ABOUT PORAT BUSINESS', '', 'inherit', 'closed', 'closed', '', '583-revision-v1', '', '', '2020-11-30 12:37:52', '2020-11-30 09:37:52', '', 583, 'https://www.porat.com/583-revision-v1/', 0, 'revision', '', 0),
(3676, 6, '2020-11-30 12:42:27', '2020-11-30 09:42:27', 'The Adtech and affiliation industry is vital to the Internet in many, but faces various unique legal challenges. Most law firms are not familiar with the legal aspects that Adtech and affiliate companies need to take into account for their operations, but the commercial law team at Nir Porat &amp; Co., Law Firm have handled many of the compliance, regulatory and commercial matters that are common in the industry on a regular basis, and therefore has acquired extensive knowledge and experience that can assist Adtech and affiliation companies of all sizes with their various legal requirements.\n\nMost of our clients within the Adtech and affiliation industry require legal services such as:\n<ul>\n 	<li>Drafting, reviewing and amending specialized agreements and contracts between publishers, advertisers, affiliate programs and other parties.</li>\n 	<li>Drafting other agreements such as Privacy Policies, Non-disclosure agreements etc.</li>\n 	<li>Consultation regarding compliance and strategic advice related to jurisdictions, technology and products in the industry.</li>\n 	<li>Compliance monitoring and review.</li>\n 	<li>Representation in litigation, mediation and arbitration proceedings.</li>\n 	<li>Consultation on Intellectual Property Issues, trademarks and other related issues.</li>\n</ul>\n&nbsp;\n\nOn top of these standard legal services for Adtech and affiliation companies we also offer tailor made legal solutions to companies in the industry who face more unusual scenarios.\n\nAdditionally, one of our strengths is advising foreign companies who wish to outsource part of their Adtech and affiliation operations to our native Israel, where the industry is considered to be the most established and best in the world, with the specific legal and practical challenges that entails. We can be of assistance both in cases where the client wishes to outsource part of their operations to Israel, as well as in cases where the client wishes to establish a company or branch in the country, for a large scale operation.\n\nOur clients range from startups just starting out to well established and market leading companies in the industry, but our fees always reflect our appreciation of the smaller startups and we make sure to handle all matters, big and small, in the most cost efficient way.\n\nAll new clients are entitled to an initial consultation on their needs, free of charge. Contact us to find out more about what we can do for you and your Adtech and/or affiliation business.', 'AdTech and Affiliation', '', 'inherit', 'closed', 'closed', '', '3424-autosave-v1', '', '', '2020-11-30 12:42:27', '2020-11-30 09:42:27', '', 3424, 'https://www.porat.com/3424-autosave-v1/', 0, 'revision', '', 0),
(3677, 6, '2020-11-30 12:43:30', '2020-11-30 09:43:30', 'The Adtech and affiliation industry is vital to the Internet in many, but faces various unique legal challenges. Most law firms are not familiar with the legal aspects that Adtech and affiliate companies need to take into account for their operations, as they are too niche and specific for the industry, but the commercial law team at Porat Group have handled many of the compliance, regulatory and commercial matters that are common in the industry on a regular basis, and therefore has acquired extensive knowledge and experience that can assist Adtech and affiliation companies of all sizes with their various legal requirements.\r\n\r\nMost of our clients within the Adtech and affiliation industry require legal services such as:\r\n<ul>\r\n 	<li>Drafting, reviewing and amending specialized agreements and contracts between publishers, advertisers, affiliate programs and other parties.</li>\r\n 	<li>Drafting other agreements such as Privacy Policies, Non-disclosure agreements etc.</li>\r\n 	<li>Consultation regarding compliance and strategic advice related to jurisdictions, technology and products in the industry.</li>\r\n 	<li>Compliance monitoring and review.</li>\r\n 	<li>Representation in litigation, mediation and arbitration proceedings.</li>\r\n 	<li>Consultation on Intellectual Property Issues, trademarks and other related issues.</li>\r\n</ul>\r\nOn top of these standard legal services for Adtech and affiliation companies we also offer tailor made legal solutions to companies in the industry who face more unusual or complex scenarios.\r\n\r\nAdditionally, one of our strengths is advising foreign companies who wish to outsource part of their Adtech and affiliation operations to our native Israel, where the industry is considered to be the most established and best in the world, with the specific legal and practical challenges that entails. We can be of assistance both in cases where the client wishes to outsource part of their operations to Israel, as well as in cases where the client wishes to establish a company or branch in the country, for a large scale operation.\r\n\r\nOur clients range from startups just starting out to well established and market leading companies in the industry, but our fees always reflect our appreciation of the smaller startups and we make sure to handle all matters, big and small, in the most cost efficient way.\r\n\r\nAll new clients are entitled to an initial consultation on their needs, free of charge. Contact us to find out more about what we can do for you and your Adtech and/or affiliation business.', 'AdTech and Affiliation', '', 'inherit', 'closed', 'closed', '', '3424-revision-v1', '', '', '2020-11-30 12:43:30', '2020-11-30 09:43:30', '', 3424, 'https://www.porat.com/3424-revision-v1/', 0, 'revision', '', 0),
(3678, 6, '2020-11-30 12:44:25', '2020-11-30 09:44:25', 'The Adtech and affiliation industry is vital to the Internet in many, but faces various unique legal challenges. Most law firms are not familiar with the legal aspects that Adtech and affiliate companies need to take into account for their operations, as they are too niche and specific for the industry, but the commercial law team at Porat Group have handled many of the compliance, regulatory and commercial matters that are common in the industry on a regular basis, and therefore has acquired extensive knowledge and experience that can assist Adtech and affiliation companies of all sizes with their various legal requirements.\r\n\r\nMost of our clients within the Adtech and affiliation industry require legal services such as:\r\n<ul>\r\n 	<li>Drafting, reviewing and amending specialized agreements and contracts between publishers, advertisers, affiliate programs and other parties.</li>\r\n 	<li>Drafting other agreements such as Privacy Policies, Non-disclosure agreements etc.</li>\r\n 	<li>Consultation regarding compliance and strategic advice related to jurisdictions, technology and products in the industry.</li>\r\n 	<li>Compliance monitoring and review.</li>\r\n 	<li>Representation in litigation, mediation and arbitration proceedings.</li>\r\n 	<li>Consultation on Intellectual Property Issues, trademarks and other related issues.</li>\r\n</ul>\r\nOn top of these standard legal services for Adtech and affiliation companies we also offer tailor made legal solutions to companies in the industry who face more unusual or complex scenarios.\r\n<h2>Outsourcing of Adtech or Affiliations operations to Israel</h2>\r\nAdditionally, one of our strengths is advising foreign companies who wish to outsource part of their Adtech and affiliation operations to our native Israel, where the industry is considered to be the most established and best in the world, with the specific legal and practical challenges that entails. We can be of assistance both in cases where the client wishes to outsource part of their operations to Israel, as well as in cases where the client wishes to establish a company or branch in the country, for a large scale operation.\r\n\r\nOur clients range from startups just starting out to well established and market leading companies in the industry, but our fees always reflect our appreciation of the smaller startups and we make sure to handle all matters, big and small, in the most cost efficient way.\r\n\r\nAll new clients are entitled to an initial consultation on their needs, free of charge. Contact us to find out more about what we can do for you and your Adtech and/or affiliation business.', 'AdTech and Affiliation', '', 'inherit', 'closed', 'closed', '', '3424-revision-v1', '', '', '2020-11-30 12:44:25', '2020-11-30 09:44:25', '', 3424, 'https://www.porat.com/3424-revision-v1/', 0, 'revision', '', 0),
(3679, 6, '2020-11-30 13:04:47', '2020-11-30 10:04:47', 'One cannot but describe the regulatory landscape of cryptocurrencies as diverse, maybe even fragmented.\n\nThe general attitude towards cryptocurrencies, led by national central banks, is to reject the possibility of cryptocurrencies qualifying as legal tender, thus leaving the floor to other authorities to express their views and interpretations.\n\nThat being said, the use of cryptocurrencies as a mean of payment to either purchase goods or commodities or acquire a service is growing rapidly, and in huge numbers.\n\nThe most common regulatory approach to cryptocurrencies by national authorities is debating on the applicability of VAT to transactions involving cryptocurrencies while warning the public of possible Anti-Money Laundering implications and associated risks, and occasionally applying AML duties on parties involved in cryptocurrencies related transactions.\n\nAlthough the regulatory status of cryptocurrencies is being shaped as we go, it is important to point out that only a handful of countries have publicly banned the use of cryptocurrencies in their territories, namely Russia, China, Venezuela, and a handful of others.\n<h2>More innovative approaches</h2>\nSeveral countries have taken a bolder and innovative approach by trying to apply a regulatory framework to cryptocurrencies.\n\nThese countries are divided between those which have designed a specific regulatory regime for cryptocurrencies, while other have interpreted and applied exiting regulatory frameworks on cryptocurrency activities.\n\nAmongst the countries which have developed specific regulatory schemes for cryptocurrencies are Japan and the US State of New York, which introduced the Bitlicense.\n\nAmongst those countries are which have chosen to apply existing regulatory frameworks on cryptocurrency activities are Switzerland, Luxembourg and Germany.\n<h2>The United States</h2>\nWhile the US is yet to come up with a comprehensive regulatory framework at Federal level, despite the fact that The Financial Crimes Enforcement Network (FinCEN) has already delineated the main actors of this industry and some broad principles to regulate them, the floor was left open to State level interpretations and initiatives. Having said that, it is important to point out the recent decision by the US Federal Securities regulator, the SEC, to review its decision not to approve a bitcoin based Exchange Traded Fund (ETF) while simultaneously considering the application for admission to trading of an Ethereum based ETF.\n\nAt state level, the State of New York, the final rules applying on the Bitlicense were published in 2015. The rules address matters such as capital requirements, custody and protection of customer assets, reports and financial disclosures, anti-money laundering program, cyber security program, business continuity and disaster recovery, advertising and marketing and consumer protection.\n\nWhile New York is leading the way, it is certainly not alone and many other US states, such as California, Arizona and Washington, are in the midst of enacting applicable regulatory frameworks to cryptocurrencies activities.\n<h2>Japan</h2>\nOn May 25, 2016, Japan approved a law regulating virtual currency exchange operators (VCEOs). The law came into effect on April 1, 2017. The law states capital requirements for virtual currency exchanges as well as and sets cybersecurity and operational requirements, as well as duties to conduct employee training programs and submit annual audits.\n<h2>Luxembourg</h2>\nIn Luxembourg, exchanges may be licensed and regulated as either payment institutions or electronic money institution. One of the leading examples is Bitstamp, a bitcoin exchange which is widely acknowledged as being the first licensed bitcoin exchange in the EU. It is licensed as payment services provider allowing it to provide services under the Luxembourg Law on payment services. Another example is Snapswap, licensed as an e-money institution, it provides a solution for remote digital onboarding which includes a blockchain based solution.\n<h2>Germany</h2>\nGerman regulator BAFIN has expressed its view that cryptocurrencies activities may be licensed and regulated as either brokers, market makers or exchanges under the MIFID regulatory scheme. Existing licensed entities in Germany include Bitcoin Deutschland AG, which is described as the only bitcoin trading platform in Germany. Bitcoin Deutschland AG is acting as tied agent for FIDOR Bank AG. In other words, FIDOR bank holds the license to offer the bitcoin activities, while the platform acts as tied agent to that bank. Another example is Bitbond, a peer to peer bitcoin lending platform which is fully licensed and supervised by BAFIN.\n<h2>Switzerland</h2>\nSwitzerland was one of the first countries to license cryptocurrencies activities, with Swiss financial regulator defining licensing requirements for bitcoin kiosk operators. Quite recently, Switzerland made another step forward by being the first country to have a bank allowing its clients to hold and exchange bitcoins, through a cooperation between Falcon Bank and Bitcoin Suisse AG.\n<h2>Others</h2>\nMany countries have declared initiatives to propose and draft applicable regulatory rules to cryptocurrencies in their territories and the number of countries regulating crypto currencies activities is likely to grow fast.\n\n(Porat Group will attempt to update about any significant and consequential updates and changes in <a href=\"https://www.porat.com/media-center/\">our Media Center</a>.)\n<h2>How can Porat Group help our clients interested in cryptocurrency regulation?</h2>\nPorat Group is one of the first law firms to offer legal services that enables cryptocurrency business owners to regulate their businesses and activities. Our lawyers are well equipped to handle regulation processes for the industry, for various jurisdictions and make sure to be up to date with any news in the industry, such as new jurisdictions allowing regulation for cryptocurrencies.\n\nIf you are a business owner active in the cryptocurrencies field and would like to know more about how to regulate your product or business, as well as what your alternatives regarding regulation are, please contact us for a free, non-binding consultation on the matter.', 'Crypto Currencies Regulation', '', 'inherit', 'closed', 'closed', '', '3293-autosave-v1', '', '', '2020-11-30 13:04:47', '2020-11-30 10:04:47', '', 3293, 'https://www.porat.com/3293-autosave-v1/', 0, 'revision', '', 0),
(3680, 6, '2020-11-30 13:06:02', '2020-11-30 10:06:02', 'One cannot but describe the regulatory landscape of cryptocurrencies as diverse, maybe even fragmented.\r\n\r\nThe general attitude towards cryptocurrencies, led by national central banks, is to reject the possibility of cryptocurrencies qualifying as legal tender, thus leaving the floor to other authorities to express their views and interpretations.\r\n\r\nThat being said, the use of cryptocurrencies as a mean of payment to either purchase goods or commodities or acquire a service is growing rapidly, and in huge numbers.\r\n\r\nThe most common regulatory approach to cryptocurrencies by national authorities is debating on the applicability of VAT to transactions involving cryptocurrencies while warning the public of possible Anti-Money Laundering implications and associated risks, and occasionally applying AML duties on parties involved in cryptocurrencies related transactions.\r\n\r\nAlthough the regulatory status of cryptocurrencies is being shaped as we go, it is important to point out that only a handful of countries have publicly banned the use of cryptocurrencies in their territories, namely Russia, China, Venezuela, and a handful of others.\r\n<h2>More innovative approaches</h2>\r\nSeveral countries have taken a bolder and innovative approach by trying to apply a regulatory framework to cryptocurrencies.\r\n\r\nThese countries are divided between those which have designed a specific regulatory regime for cryptocurrencies, while other have interpreted and applied exiting regulatory frameworks on cryptocurrency activities.\r\n\r\nAmongst the countries which have developed specific regulatory schemes for cryptocurrencies are Japan and the US State of New York, which introduced the Bitlicense.\r\n\r\nAmongst those countries are which have chosen to apply existing regulatory frameworks on cryptocurrency activities are Switzerland, Luxembourg and Germany.\r\n<h2>The United States</h2>\r\nWhile the US is yet to come up with a comprehensive regulatory framework at Federal level, despite the fact that The Financial Crimes Enforcement Network (FinCEN) has already delineated the main actors of this industry and some broad principles to regulate them, the floor was left open to State level interpretations and initiatives. Having said that, it is important to point out the recent decision by the US Federal Securities regulator, the SEC, to review its decision not to approve a bitcoin based Exchange Traded Fund (ETF) while simultaneously considering the application for admission to trading of an Ethereum based ETF.\r\n\r\nAt state level, the State of New York, the final rules applying on the Bitlicense were published in 2015. The rules address matters such as capital requirements, custody and protection of customer assets, reports and financial disclosures, anti-money laundering program, cyber security program, business continuity and disaster recovery, advertising and marketing and consumer protection.\r\n\r\nWhile New York is leading the way, it is certainly not alone and many other US states, such as California, Arizona and Washington, are in the midst of enacting applicable regulatory frameworks to cryptocurrencies activities.\r\n<h2>Japan</h2>\r\nOn May 25, 2016, Japan approved a law regulating virtual currency exchange operators (VCEOs). The law came into effect on April 1, 2017. The law states capital requirements for virtual currency exchanges as well as and sets cybersecurity and operational requirements, as well as duties to conduct employee training programs and submit annual audits.\r\n<h2>Luxembourg</h2>\r\nIn Luxembourg, exchanges may be licensed and regulated as either payment institutions or electronic money institution. One of the leading examples is Bitstamp, a bitcoin exchange which is widely acknowledged as being the first licensed bitcoin exchange in the EU. It is licensed as payment services provider allowing it to provide services under the Luxembourg Law on payment services. Another example is Snapswap, licensed as an e-money institution, it provides a solution for remote digital onboarding which includes a blockchain based solution.\r\n<h2>Germany</h2>\r\nGerman regulator BAFIN has expressed its view that cryptocurrencies activities may be licensed and regulated as either brokers, market makers or exchanges under the MIFID regulatory scheme. Existing licensed entities in Germany include Bitcoin Deutschland AG, which is described as the only bitcoin trading platform in Germany. Bitcoin Deutschland AG is acting as tied agent for FIDOR Bank AG. In other words, FIDOR bank holds the license to offer the bitcoin activities, while the platform acts as tied agent to that bank. Another example is Bitbond, a peer to peer bitcoin lending platform which is fully licensed and supervised by BAFIN.\r\n<h2>Switzerland</h2>\r\nSwitzerland was one of the first countries to license cryptocurrencies activities, with Swiss financial regulator defining licensing requirements for bitcoin kiosk operators. Quite recently, Switzerland made another step forward by being the first country to have a bank allowing its clients to hold and exchange bitcoins, through a cooperation between Falcon Bank and Bitcoin Suisse AG.\r\n<h2>Others</h2>\r\nMany countries have declared initiatives to propose and draft applicable regulatory rules to cryptocurrencies in their territories and the number of countries regulating cryptocurrencies activities is likely to grow fast.\r\n\r\n(Porat Group will attempt to update about any significant and consequential updates and changes in <a href=\"https://www.porat.com/media-center/\">our Media Center</a>.)\r\n<h2>How can Porat Group help our clients interested in cryptocurrency regulation?</h2>\r\nPorat Group is one of the first law firms to offer legal services that enables cryptocurrency business owners to regulate their businesses and activities. Our lawyers are well equipped to handle regulation processes for the industry, for various jurisdictions and make sure to be up to date with any news in the industry, such as new jurisdictions allowing regulation for cryptocurrencies.\r\n\r\nIf you are a business owner active in the cryptocurrencies field and would like to know more about how to regulate your product or business, as well as what your alternatives regarding regulation are, please contact us for a free, non-binding consultation on the matter.', 'Crypto Currencies Regulation', '', 'inherit', 'closed', 'closed', '', '3293-revision-v1', '', '', '2020-11-30 13:06:02', '2020-11-30 10:06:02', '', 3293, 'https://www.porat.com/3293-revision-v1/', 0, 'revision', '', 0),
(3681, 6, '2020-11-30 13:12:36', '2020-11-30 10:12:36', '', 'ABOUT PORAT LAW', '', 'inherit', 'closed', 'closed', '', '581-revision-v1', '', '', '2020-11-30 13:12:36', '2020-11-30 10:12:36', '', 581, 'https://www.porat.com/581-revision-v1/', 0, 'revision', '', 0),
(3682, 6, '2020-11-30 15:25:42', '2020-11-30 12:25:42', 'For clients interested in planning and building in Israel, Porat Group provides professional and up to date legal consultation related to all the different laws and regulations in place in the State of Israel related to that, such as the Planning and Building Law (passed by the Israeli Knesset on July 14th 1965), as well as local regulations, specific to each city and municipality.\n\nAll building and planning activities in the country are regulated on several different levels, and therefore it is challenging for most real estate developers and private individuals to keep track of them on their own, even if they have previous experience in real estate.\n\nThe real estate lawyers at Porat Group are, however, well acquainted with all the different levels in question, from the national to the local, as well as with rules and regulations related to issues such as preservation areas, roads, licensing, and accessibility for the disabled and more.\n\nWe can also assists with issues such as appealing to appeal committees and all the contracts needed with external suppliers and contractors that the client is working with.', 'Planning and building', '', 'inherit', 'closed', 'closed', '', '3455-autosave-v1', '', '', '2020-11-30 15:25:42', '2020-11-30 12:25:42', '', 3455, 'https://www.porat.com/3455-autosave-v1/', 0, 'revision', '', 0),
(3683, 6, '2020-11-30 15:26:22', '2020-11-30 12:26:22', 'For clients interested in planning and building in Israel, Porat Group provides professional and up to date legal consultation related to all the different laws and regulations in place in the State of Israel related to that, such as the Planning and Building Law (passed by the Israeli Knesset on July 14th 1965), as well as local regulations, specific to each city and municipality.\r\n\r\nAll building and planning activities in the country are regulated on several different levels, and therefore it is challenging for most real estate developers and private individuals to keep track of them on their own, even if they have previous experience in real estate.\r\n\r\nThe real estate lawyers at Porat Group are, however, well acquainted with all the different levels in question, from the national to the local, as well as with rules and regulations related to issues such as preservation areas, roads, licensing, and accessibility for the disabled and more.\r\n\r\nWe can also assists with issues such as appealing to appeal committees and all the contracts needed with external suppliers and contractors that the client is working with.', 'Planning and building', '', 'inherit', 'closed', 'closed', '', '3455-revision-v1', '', '', '2020-11-30 15:26:22', '2020-11-30 12:26:22', '', 3455, 'https://www.porat.com/3455-revision-v1/', 0, 'revision', '', 0),
(3684, 6, '2020-11-30 15:37:39', '2020-11-30 12:37:39', 'Various types of employee incentive programs are becoming increasingly important for employers of all sizes, but there are several common pitfalls related to these programs, as well as to implementing them within organizations, drafting contracts for them and so on. Additionally, not all law firms are equipped to handle matters related to employee incentive programs, since they are not common in all industries.\n\nPorat Group, however, provides both case by case and ongoing consultation to a variety of companies related to their employee incentive programs, ranging from privately owned smaller businesses to multinational large corporations, startups and others.\n\nOur counselling is suitable both for large scale agreements and arrangements as well as contracts and agreements intended for top level executives and directors, founders and other key roles in all these companies, and we can be of assistance during any stage when a company deals with employee incentive program issues.\n\nShould a client contact us at an early state we can design entire employee incentive programs and provide recommendations related to how they should be incorporated, draft contracts and agreements related to the program and much more, but should we be consulted at a later stage, we can also play an integral part in making changes to employee incentive programs, their contracts and so on.\n<h2>Other employee benefits and legal matters related to them</h2>\nOn top of employee incentive programs we also deal with many other types of employee benefits issues, as well as matters related to compensation for executives and can advise on how all these matters related to <a href=\"https://www.porat.com/legal/labor-law/\">Labor Law</a>, Corporate Law, Family Law and other related rules and regulations employers should be aware of.\n<h2>Services we offer</h2>\nOur labor lawyers have dealt with various stages of employee incentive programs both in Israel and internationally and some of the most sought after services we provide within this field are related to:\n<ul>\n 	<li>Share purchase plans;</li>\n 	<li>Performance based awards, benefits and salaries;</li>\n 	<li>Pension schemes;</li>\n 	<li>Deferred compensation arrangements;</li>\n 	<li>Adjustment periods;</li>\n 	<li>Trial periods;</li>\n 	<li>Multijurisdictional arrangements;</li>\n 	<li>Guidance on filing, reporting and saving documentation related to the arrangements.</li>\n</ul>\nHowever, depending on the needs of the client, additional services and consultations related to these services can be provided as well.\n\nOur law firm always offers a complimentary consultation for potential new clients where the client gets an opportunity to describe its plans and needs in detail, upon which an action plan from the law firm\'s part is provided, in order for the client to understand what we can offer in terms of consultation, drafting and hands on representation, before committing to any long term obligations. As we mentioned, we also take on individual cases and agreements if needed, so ongoing fees are not always a necessity.', 'Employee Incentive Programs', '', 'inherit', 'closed', 'closed', '', '3428-autosave-v1', '', '', '2020-11-30 15:37:39', '2020-11-30 12:37:39', '', 3428, 'https://www.porat.com/3428-autosave-v1/', 0, 'revision', '', 0),
(3685, 6, '2020-11-30 15:38:50', '2020-11-30 12:38:50', 'Various types of employee incentive programs are becoming increasingly important for employers of all sizes, but there are several common pitfalls related to these programs, as well as to implementing them within organizations, drafting contracts for them and so on. Additionally, not all law firms are equipped to handle matters related to employee incentive programs, since they are not common in all industries.\r\n\r\nPorat Group, however, provides both case by case and ongoing consultation to a variety of companies related to their employee incentive programs, ranging from privately owned smaller businesses to multinational large corporations, startups and others.\r\n\r\nOur counselling is suitable both for large scale agreements and arrangements as well as contracts and agreements intended for top level executives and directors, founders and other key roles in all these companies, and we can be of assistance during any stage when a company deals with employee incentive program issues.\r\n\r\nShould a client contact us at an early state we can design entire employee incentive programs and provide recommendations related to how they should be incorporated, draft contracts and agreements related to the program and much more, but should we be consulted at a later stage, we can also play an integral part in making changes to employee incentive programs, their contracts and so on.\r\n<h2>Other employee benefits and legal matters related to them</h2>\r\nOn top of employee incentive programs we also deal with many other types of employee benefits issues, as well as matters related to compensation for executives and can advise on how all these matters related to <a href=\"https://www.porat.com/legal/labor-law/\">Labor Law</a>, <a href=\"https://www.porat.com/legal/commercial-and-corporate/\">Corporate Law</a>, Family Law and other related rules and regulations employers should be aware of.\r\n<h2>Services we offer</h2>\r\nOur labor lawyers have dealt with various stages of employee incentive programs both in Israel and internationally and some of the most sought after services we provide within this field are related to:\r\n<ul>\r\n 	<li>Share purchase plans;</li>\r\n 	<li>Performance based awards, benefits and salaries;</li>\r\n 	<li>Pension schemes;</li>\r\n 	<li>Deferred compensation arrangements;</li>\r\n 	<li>Adjustment periods;</li>\r\n 	<li>Trial periods;</li>\r\n 	<li>Multijurisdictional arrangements;</li>\r\n 	<li>Guidance on filing, reporting and saving documentation related to the arrangements.</li>\r\n</ul>\r\nHowever, depending on the needs of the client, additional services and consultations related to these services can be provided as well.\r\n\r\nOur law firm always offers a complimentary consultation for potential new clients where the client gets an opportunity to describe its plans and needs in detail, upon which an action plan from the law firm\'s part is provided, in order for the client to understand what we can offer in terms of consultation, drafting and hands on representation, before committing to any long term obligations. As we mentioned, we also take on individual cases and agreements if needed, so ongoing fees are not always a necessity.', 'Employee Incentive Programs', '', 'inherit', 'closed', 'closed', '', '3428-revision-v1', '', '', '2020-11-30 15:38:50', '2020-11-30 12:38:50', '', 3428, 'https://www.porat.com/3428-revision-v1/', 0, 'revision', '', 0),
(3686, 6, '2020-11-30 15:44:48', '2020-11-30 12:44:48', '', 'ABOUT PORAT LAW', '', 'inherit', 'closed', 'closed', '', '581-revision-v1', '', '', '2020-11-30 15:44:48', '2020-11-30 12:44:48', '', 581, 'https://www.porat.com/581-revision-v1/', 0, 'revision', '', 0),
(3687, 6, '2020-11-30 16:14:18', '2020-11-30 13:14:18', 'Since real estate is a very substantial investment in most cases, it is advisable to have a legal professional assist with any real estate transactions you take part in, especially since real estate transactions have become increasingly complex in the last years, both in Israel, where Porat Group is based, and abroad.\n\nPorat Group offers a range of legal services related to real estate transactions, both in relations to residential and commercial properties.\n<h2>Our legal services related to real estate transactions</h2>\nOur services include:\n<ul>\n 	<li>Contract preparation, including tailor made contracts for specific properties, buyers, sellers and transactions.</li>\n 	<li>Reviewing existing contracts for errors, conflicts of interests and other significant flaws.</li>\n 	<li>Additions and revisions of existing contracts.</li>\n 	<li>Drafting and reviewing partnership and joint venture agreements related to real estate transactions and ownership.</li>\n 	<li>Matters related to property development of projects that are not built yet.</li>\n 	<li>Representation and consultation in real estate disputes, including disputes among multiple parties, and conflict resolution in various manners, such as arbitration, mediation and litigation.</li>\n 	<li>Consultation regarding laws related to land ownership, property ownership, taxes and related matters.</li>\n 	<li>Consultation regarding property boundaries.</li>\n 	<li>Due diligence on parties involved in a specific transaction.</li>\n 	<li>Legal analysis of existing ownership, properties and regulations regarding them.</li>\n</ul>\n<h2>Why choose Porat Group for your real estate transactions?</h2>\nAll our lawyers dealing with real estate transactions are experienced, qualified and frequently handle these types of transactions, both for individuals and businesses of various sizes, in our native Israel as well as abroad. They are devoted to protecting our clients’ best interests at every step of the way and due to their experience they have a deep understanding for the complexities and problems that often arise in connection to real estate transactions, and can therefore use a pro-active approach in order to help avoid additional costs and procedures later on.\n\nIf you contact Porat Group and ask for a complimentary consultation with regards to the real estate transactions you are involved in, one of our lawyers will discuss the transaction in question with you in order to understand what services you will be requiring, and then provide you with a comprehensive analysis of your needs, as well as a quote for the services involved before we start. This gives you an opportunity to have all the information you need available before making any decisions.', 'Real Estate Transactions', '', 'inherit', 'closed', 'closed', '', '3453-autosave-v1', '', '', '2020-11-30 16:14:18', '2020-11-30 13:14:18', '', 3453, 'https://www.porat.com/3453-autosave-v1/', 0, 'revision', '', 0);
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(3688, 6, '2020-11-30 16:15:30', '2020-11-30 13:15:30', 'Since real estate is a very substantial investment in most cases, it is advisable to have a legal professional assist with any real estate transactions you take part in, especially since real estate transactions have become increasingly complex in the last years, both in Israel, where Porat Group is based, and abroad.\r\n\r\nPorat Group offers a range of legal services related to real estate transactions, both in relations to residential and commercial properties.\r\n<h2>Our legal services related to real estate transactions</h2>\r\nOur services include:\r\n<ul>\r\n 	<li>Contract preparation, including tailor made contracts for specific properties, buyers, sellers and transactions.</li>\r\n 	<li>Reviewing existing contracts for errors, conflicts of interests and other significant flaws.</li>\r\n 	<li>Additions and revisions of existing contracts.</li>\r\n 	<li>Drafting and reviewing partnership and joint venture agreements related to real estate transactions and ownership.</li>\r\n 	<li>Matters related to property development of projects that are not built yet.</li>\r\n 	<li>Representation and consultation in real estate disputes, including disputes among multiple parties, and conflict resolution in various manners, such as arbitration, mediation and litigation.</li>\r\n 	<li>Consultation regarding laws related to land ownership, property ownership, taxes and related matters.</li>\r\n 	<li>Consultation regarding property boundaries.</li>\r\n 	<li>Due diligence on parties involved in a specific transaction.</li>\r\n 	<li>Legal analysis of existing ownership, properties and regulations regarding them.</li>\r\n</ul>\r\n<h2>Why choose Porat Group for your real estate transactions?</h2>\r\nAll our lawyers dealing with real estate transactions are experienced, qualified and frequently handle these types of transactions, both for individuals and businesses of various sizes, in our native Israel as well as abroad. They are devoted to protecting our clients’ best interests at every step of the way and due to their experience they have a deep understanding for the complexities and problems that often arise in connection to real estate transactions, and can therefore use a pro-active approach in order to help avoid additional costs and procedures later on.\r\n\r\nIf you contact Porat Group and ask for a complimentary consultation with regards to the real estate transactions you are involved in, one of our lawyers will discuss the transaction in question with you in order to understand what services you might be requiring, and then provide you with a comprehensive analysis of your needs, as well as a quote for the services involved before we start. This gives you an opportunity to have all the information you need available before making any decisions on how to proceed.', 'Real Estate Transactions', '', 'inherit', 'closed', 'closed', '', '3453-revision-v1', '', '', '2020-11-30 16:15:30', '2020-11-30 13:15:30', '', 3453, 'https://www.porat.com/3453-revision-v1/', 0, 'revision', '', 0),
(3689, 6, '2020-11-30 16:16:36', '2020-11-30 13:16:36', 'Since real estate is a very substantial investment in most cases, it is advisable to have a legal professional assist with any real estate transactions you take part in, especially since real estate transactions have become increasingly complex in the last years, both in Israel, where Porat Group is based, and abroad.\r\n\r\nPorat Group offers a range of legal services related to real estate transactions, both in relations to residential and commercial properties.\r\n<h2>Our legal services related to real estate transactions</h2>\r\nOur services include:\r\n<ul>\r\n 	<li>Contract preparation, including tailor made contracts for specific properties, buyers, sellers and transactions.</li>\r\n 	<li>Reviewing existing contracts for errors, conflicts of interests and other significant flaws.</li>\r\n 	<li>Additions and revisions of existing contracts.</li>\r\n 	<li>Drafting and reviewing partnership and joint venture agreements related to real estate transactions and ownership.</li>\r\n 	<li>Matters related to property development of projects that are not built yet.</li>\r\n 	<li>Representation and consultation in real estate disputes, including disputes among multiple parties, and conflict resolution in various manners, such as arbitration, mediation and litigation.</li>\r\n 	<li>Consultation regarding laws related to land ownership, property ownership, taxes and related matters.</li>\r\n 	<li>Consultation regarding property boundaries.</li>\r\n 	<li>Due diligence on parties involved in a specific transaction.</li>\r\n 	<li>Legal analysis of existing ownership, properties and regulations regarding them.</li>\r\n</ul>\r\n<h2>Why choose Porat Group for your real estate transactions?</h2>\r\nAll our lawyers dealing with real estate transactions are experienced, qualified and frequently handle these types of transactions, both for individuals and businesses of various sizes, in our native Israel as well as abroad. They are devoted to protecting our clients’ best interests at every step of the way and due to their experience they have a deep understanding for the complexities and problems that often arise in connection to real estate transactions, and can therefore use a pro-active approach in order to help avoid additional costs and procedures later on.\r\n\r\nIf you <a href=\"https://www.porat.com/contact/\">contact Porat Group</a> and ask for a complimentary consultation with regards to the real estate transactions you are involved in, one of our lawyers will discuss the transaction in question with you in order to understand what services you might be requiring, and then provide you with a comprehensive analysis of your needs, as well as a quote for the services involved before we start. This gives you an opportunity to have all the information you need available before making any decisions on how to proceed.', 'Real Estate Transactions', '', 'inherit', 'closed', 'closed', '', '3453-revision-v1', '', '', '2020-11-30 16:16:36', '2020-11-30 13:16:36', '', 3453, 'https://www.porat.com/3453-revision-v1/', 0, 'revision', '', 0),
(3690, 6, '2020-11-30 16:22:04', '2020-11-30 13:22:04', 'Payment processors or payment service provides (PSP’s) can enable many types of businesses, from e-commerce companies to gaming sites and financial brokers, just to name a few, to receive payments in various forms from their users and clients in a more convenient way. Setting up a vast range of payment methods for your online based business can be very challenging, especially if you are in a so called high risk business, but a cooperation with a payment processor will streamline the process significantly.\n\nModern payment processors are impressively fast and safe and easy to work with, but establishing a cooperation with a payment processor as a small business is not always as easy.\n\nOnline based companies of all kinds can therefore benefit from the introductory services to some of the leading payment processing companies in the world that Porat Group offers. Coming though us, companies can often negotiate better terms and conditions and get access to payment processors that would otherwise be unavailable to them.\n<h2>Becoming a payment processor</h2>\nAdditionally, our law firm has experience in setting up and regulating payment processing operations, for companies that wish to become payment processors themselves. We can assist with everything from company incorporation for these purposes, obtaining all licenses and permits needed, contracts, employment issues, and more.\n\nWe are upfront regarding all the costs involved in both becoming a payment processor and cooperating with one and offer free consultations for clients interested in both options.', 'Payment processing and clearing', '', 'inherit', 'closed', 'closed', '', '3451-autosave-v1', '', '', '2020-11-30 16:22:04', '2020-11-30 13:22:04', '', 3451, 'https://www.porat.com/3451-autosave-v1/', 0, 'revision', '', 0),
(3691, 6, '2020-11-30 16:23:45', '2020-11-30 13:23:45', 'Payment processors or payment service provides (PSP’s) can enable many types of businesses, from e-commerce companies to gaming sites and financial brokers, just to name a few, to receive payments in various forms from their users and clients in a more convenient way. Setting up a vast range of payment methods for your online based business can be very challenging, especially if you are in a so called high risk business, but a cooperation with a payment processor will streamline the process significantly.\r\n\r\nModern payment processors are impressively fast and safe and easy to work with, but establishing a cooperation with a payment processor as a small business is not always as easy.\r\n\r\nOnline based companies of all kinds can therefore benefit from the introductory services to some of the leading payment processing companies in the world that Porat Group offers. Coming though us, companies can often negotiate better terms and conditions and get access to payment processors that would otherwise be unavailable to them.\r\n<h2>Becoming a payment processor</h2>\r\nAdditionally, our law firm has experience in setting up and regulating payment processing operations, for companies that wish to become payment processors themselves. We can assist with everything from company incorporation for these purposes, obtaining all licenses and permits needed, contracts, employment issues, and more.\r\n\r\nWe are upfront regarding all the costs involved in both becoming a payment processor and cooperating with one and offer free consultations for clients interested in both options.', 'Payment processing and clearing', '', 'inherit', 'closed', 'closed', '', '3451-revision-v1', '', '', '2020-11-30 16:23:45', '2020-11-30 13:23:45', '', 3451, 'https://www.porat.com/3451-revision-v1/', 0, 'revision', '', 0),
(3692, 6, '2020-11-30 16:24:24', '2020-11-30 13:24:24', 'Payment processors or payment service provides (PSP’s) can enable many types of businesses, from e-commerce companies to gaming sites and financial brokers, just to name a few, to receive payments in various forms from their users and clients in a more convenient way. Setting up a vast range of payment methods for your online based business can be very challenging, especially if you are in a so called high risk business, but a cooperation with a payment processor will streamline the process significantly.\r\n\r\nModern payment processors are impressively fast and safe and easy to work with, but establishing a cooperation with a payment processor as a small business is not always as easy.\r\n<h2>Introductory services to payment processors</h2>\r\nOnline based companies of all kinds can therefore benefit from the introductory services to some of the leading payment processing companies in the world that Porat Group offers. Coming though us, companies can often negotiate better terms and conditions and get access to payment processors that would otherwise be unavailable to them.\r\n<h2>Becoming a payment processor</h2>\r\nAdditionally, our law firm has experience in setting up and regulating payment processing operations, for companies that wish to become payment processors themselves. We can assist with everything from company incorporation for these purposes, obtaining all licenses and permits needed, contracts, employment issues, and more.\r\n\r\nWe are upfront regarding all the costs involved in both becoming a payment processor and cooperating with one and offer free consultations for clients interested in both options.', 'Payment processing and clearing', '', 'inherit', 'closed', 'closed', '', '3451-revision-v1', '', '', '2020-11-30 16:24:24', '2020-11-30 13:24:24', '', 3451, 'https://www.porat.com/3451-revision-v1/', 0, 'revision', '', 0),
(3693, 6, '2020-11-30 16:27:55', '2020-11-30 13:27:55', 'While the EU has been busy with the Covid-19 pandemic, ESMA has been busy with the implementation of 5 AMLD by each Member State in the Union, and the EU Commission has been preoccupied by Council of Europe meetings, the implementation of 6 AMLD has been drawing much nearer than anticipated.\r\n\r\n5 AMLD has caused a whirlwind once it was implemented by the EU Member States, and has managed to rock many financial institutions such as EMIs, crypto exchanges and SPIs.\r\n\r\nYet, while those institutions may have thought they have finished their regulatory duties towards their respective regulator, it is not the case.\r\n\r\nThe EU Commission (hereinafter- Commission) has adopted a new Directive to tackle money laundering in the EU, and the deadline for implementation is fastly approaching.\r\n\r\nThe new Directive (6 AMLD) will replace the current AML Framework in the EU and the current Directive (5 AMLD). The deadline for implementation for the Member States is December 3rd 2020. By this, not only the Member States will have to adjust their local laws, but also the financial institutions in the EU will have to adhere to the new AML framework.\r\n\r\n<strong><u>What does the 6 AMLD entail?</u></strong>\r\n<ol>\r\n 	<li>Criminal Liability- legal and natural persons which are registered as UBOs/ nominee directors will fall under intense scrutiny for criminal liability in the respective Member States.</li>\r\n 	<li>The conversion/ transfer of property deriving from countries from outside the EU will undergo even more intense scrutiny.</li>\r\n 	<li>Aiding/ abetting or even attempting to conduct alleged money laundering activity will be punishable (in the respective Member State) as a criminal offence.</li>\r\n 	<li>Member States will not be able to issue mitigated circumstances penalties, and are obliged to issue proportionate and dissuasive criminal penalties.</li>\r\n 	<li>Member States are under the strict obligation to issue additional sanctions for money laundering.</li>\r\n 	<li>Specific sanctions for legal persons include enhanced judicial enforcement, closing of the institution and increased fines.</li>\r\n</ol>\r\nBy this, 6 AMLD changes the legal sphere by crossing paths with the criminal realm in the EU, but also ensuring closure of the institutions that will not comply with the new framework and the imposition of fines on said institutions.\r\n\r\nThis also means that the current AML practices and policies that are imposed currently in your financial institution are not in conformity with the new laws, and as such, will be deemed non-compliant by the EU Regulator.\r\n\r\nEMIs and financial institutions that are licensed in the UK will also have to comply with the new regulatory framework, although the fact that the FCA will no longer be under ESMA\'s inspection and supervision.\r\n\r\nWhile the December deadline seem quite far, it is imperative that financial institutions, crypto currency exchanges and EMIs will comply with the new regulatory framework prior to December 2020, or they risk fines and criminal liability.\r\n\r\nAuthor: Ella Rosenberg', '6 AMLD- the End of Money laundering in the EU as we know it?', '', 'inherit', 'closed', 'closed', '', '3524-revision-v1', '', '', '2020-11-30 16:27:55', '2020-11-30 13:27:55', '', 3524, 'https://www.porat.com/3524-revision-v1/', 0, 'revision', '', 0),
(3696, 6, '2020-11-30 17:19:31', '2020-11-30 14:19:31', 'Joint ventures can accelerate a company’s growth considerably, and be a great strategic move, allowing companies to take on bigger projects and enter new markets. However, there are many legal, as well as strategic aspects to take into account prior to committing to a joint venture, or strategic alliance of any kind. And we are here to help you maximize the advantages of a joint venture, and minimize the associated risks!\n<h2>Why Porat Group?</h2>\nThe accomplished team at Porat Group does not only have experience offering advice in advance of joint ventures, but has through our business division, Porat Business, actually facilitated some major joint ventures in the past, placing our team in a prime position to help any clients planning joint ventures or other alliances in the future.\n\nFurthermore, our knowledge of various industries and jurisdictions, as well as languages and cultures, makes it easier for us to work with diverse parties, yet steer them all towards the same goal.\n<h2>Services provided</h2>\nSome of the services, useful for anyone planning a joint venture, that we provide are:\n<ul>\n 	<li style=\"list-style-type: none;\">\n<ul>\n 	<li>Support and consultations for entrepreneurs and startups</li>\n 	<li>Support and consultations for investors</li>\n 	<li>Company structuring and restructuring</li>\n 	<li>Drafting and reviewing various related documentation and agreements</li>\n 	<li>Drafting commercial agreements</li>\n 	<li>Documentation and agreements related to various assets</li>\n 	<li>Ownership and equity documents</li>\n 	<li>Documentation related to revenue and loss shares</li>\n 	<li>Intellectual property rights</li>\n 	<li>Regulation and licensing</li>\n 	<li>Real Estate Law</li>\n 	<li>Labor Law</li>\n 	<li>Taxation advice</li>\n 	<li>Payment and banking solutions</li>\n 	<li>Litigation</li>\n</ul>\n</li>\n</ul>\nEach joint venture is unique, however, so one of the first steps we take when taking on a new client who is interested in pursuing a joint venture is to go through all their specific needs, circumstances and plans, in order to understand both the possibilities and risks better. After this non-binding, complimentary consultation we are better prepared to recommend a tailor made course of action for each specific client.\n<a href=\"https://www.porat.com/contact/\">Contact us directly</a> to book your own consultation.', 'Joint Ventures', '', 'inherit', 'closed', 'closed', '', '1199-autosave-v1', '', '', '2020-11-30 17:19:31', '2020-11-30 14:19:31', '', 1199, 'https://www.porat.com/1199-autosave-v1/', 0, 'revision', '', 0),
(3697, 6, '2020-11-30 17:35:21', '2020-11-30 14:35:21', 'The small island nation of Curacao, located off the northern coast of Venezuela, was one of the first jurisdictions to regulate online gaming, in 1996. This jurisdiction has been popular among online gaming providers ever since, due to the low costs of a license here, the favorable tax rates and the few restrictions imposed on the license holders.\r\n\r\nThe Curacao gaming licenses are issued by the Curacao Internet Gaming Association (CIGA), and around 30 different online gaming operators hold a Curacao gaming license today. There is only one gaming license available, and this license is for both skill games, chance games as well as sports betting. Both sub-licenses and so called master licenses (full licenses) are offered.\r\n\r\nCuracao also offers many financial benefits for gaming companies who do decide to opt for their gaming license, such as no sales tax, a net corporate income tax rate of only 2%, no VAT and a well-established corporate environment with regards to gaming in particular, which is generally hard to find elsewhere.\r\n<h2>Requirements on gaming companies in order to be approved for Curacao gaming regulation</h2>\r\nIn order for a gaming company to obtain a Curacao gaming license, several conditions have to be met by the applicant, such as:\r\n<ul>\r\n 	<li>Proof that the owners of the company have no criminal record.</li>\r\n 	<li>Copies of the passports of the owners.</li>\r\n 	<li>Bank references for the owners.</li>\r\n 	<li>A description of the operation and games that the company offers.</li>\r\n 	<li>Technical details about the operation.</li>\r\n 	<li>A description of the target market and a business plan.</li>\r\n 	<li>A declaration that the services are not available for minors and problem players.</li>\r\n 	<li>Guarantee of hosting databases in Curacao.</li>\r\n</ul>\r\n<h2>Our services related to Curacao gaming regulation processes</h2>\r\nOur lawyers can explain all the above mentioned requirements, as well as other requirements in detail, so that each client can understand if it would be possible for them to meet these requirements or not.\r\n\r\nWe also offer all services a client needs in order to set up and operate their company in Curacao, from company formation, obtaining the sublicense for gaming, introductions to suitable banks, should you need a bank account, and more.\r\n\r\nIn case the client is not sure Curacao is the best possible jurisdiction for them, the gaming lawyers at Porat Group can also present different alternatives to this specific jurisdiction to the client, as well as explain the advantages and disadvantages of each jurisdiction in detail, in order to help each client find the most beneficial jurisdiction with regards to gaming operations for them.', 'Gaming regulation in Curacao', '', 'inherit', 'closed', 'closed', '', '3447-revision-v1', '', '', '2020-11-30 17:35:21', '2020-11-30 14:35:21', '', 3447, 'https://www.porat.com/3447-revision-v1/', 0, 'revision', '', 0),
(3698, 6, '2020-12-02 09:44:07', '2020-12-02 06:44:07', 'The Mediterranean island nation of Malta is one of the most popular and prestigious jurisdictions for gaming licenses in the world, not only because the country is a European Union member state and has been offering online gaming regulation since 2004, but also because the corporate infrastructure on the island for gaming companies in particular is outstanding - state of the art technology services, a multilingual, experienced workforce, professional service providers and more.\n\nTherefore, it is hardly a surprise that many of the most known and established gaming companies in Europe, including publicly traded ones, hold Maltese gaming licenses, making these licenses extremely sought after among companies looking to get a cut of the extremely lucrative European gaming market as well.\n\nDue to the strong player protection in place in Malta, many players look specifically for gaming providers with a Maltese license as well, so often, opting for a Maltese gaming license can increase business for a gaming provider, even if they currently hold another gaming license.\n\nWe recommend a gaming license in Malta for companies with a long term commitment, ready to invest in their business for a premium license, in one of the best jurisdictions available today.\n<h2>Why Porat Group should be your top choice for Maltese gaming regulation services</h2>\nAt Porat Group we work extensively with matters related to Malta, not only within the field of gaming, but in other areas too. Malta is one of our main jurisdictions, and therefore we naturally have a good network of professionals in the country that we work with and contact in order to assist our clients get the help they need as fast as possible, in a smooth and effortless way.\n\nSince we know that in comparison to other jurisdictions, the strict requirements in Malta often mean higher fees for gaming regulation for our client, we also put a lot of effort into making our own fees as attractive as possible, in order to enable more clients to choose this attractive jurisdictions when they regulate their operations, instead of less beneficial jurisdictions.\n\nFurthermore, all clients are offered a free consultation and full enclosure on all costs involved beforehand, in order to avoid any complications once the process has started. So if you think a Maltese gaming license might be the best choice for your business, contact us in order to find out more about this jurisdiction, its requirements and the application process.', 'GAMING REGULATION IN MALTA', '', 'inherit', 'closed', 'closed', '', '3434-autosave-v1', '', '', '2020-12-02 09:44:07', '2020-12-02 06:44:07', '', 3434, 'https://www.porat.com/3434-autosave-v1/', 0, 'revision', '', 0),
(3699, 6, '2020-12-02 09:44:17', '2020-12-02 06:44:17', 'The Mediterranean island nation of Malta is one of the most popular and prestigious jurisdictions for gaming licenses in the world, not only because the country is a European Union member state and has been offering online gaming regulation since 2004, but also because the corporate infrastructure on the island for gaming companies in particular is outstanding - state of the art technology services, a multilingual, experienced workforce, professional service providers and more.\r\n\r\nTherefore, it is hardly a surprise that many of the most known and established gaming companies in Europe, including publicly traded ones, hold Maltese gaming licenses, making these licenses extremely sought after among companies looking to get a cut of the extremely lucrative European gaming market as well.\r\n\r\nDue to the strong player protection in place in Malta, many players look specifically for gaming providers with a Maltese license as well, so often, opting for a Maltese gaming license can increase business for a gaming provider, even if they currently hold another gaming license.\r\n\r\nWe recommend a gaming license in Malta for companies with a long term commitment, ready to invest in their business for a premium license, in one of the best jurisdictions available today.\r\n<h2>Why Porat Group should be your top choice for Maltese gaming regulation services</h2>\r\nAt Porat Group we work extensively with matters related to Malta, not only within the field of gaming, but in other areas too. Malta is one of our main jurisdictions, and therefore we naturally have a good network of professionals in the country that we work with and contact in order to assist our clients get the help they need as fast as possible, in a smooth and effortless way.\r\n\r\nSince we know that in comparison to other jurisdictions, the strict requirements in Malta often mean higher fees for gaming regulation for our client, we also put a lot of effort into making our own fees as attractive as possible, in order to enable more clients to choose this attractive jurisdictions when they regulate their operations, instead of less beneficial jurisdictions.\r\n\r\nFurthermore, all clients are offered a free consultation and full enclosure on all costs involved beforehand, in order to avoid any complications once the process has started. So if you think a Maltese gaming license might be the best choice for your business, contact us in order to find out more about this jurisdiction, its requirements and the application process.', 'GAMING REGULATION IN MALTA', '', 'inherit', 'closed', 'closed', '', '3434-revision-v1', '', '', '2020-12-02 09:44:17', '2020-12-02 06:44:17', '', 3434, 'https://www.porat.com/3434-revision-v1/', 0, 'revision', '', 0),
(3701, 6, '2020-12-02 10:16:27', '2020-12-02 07:16:27', 'A gaming license from the United Kingdom is one of the most prestigious gaming licenses in the world, due to the government’s support of the industry, the high level of protection for the players, and the fact that it gives the holder legal access to various extremely lucrative European markets. Moreover, London is a major center of the online gaming market, and generally, an online gaming company cannot find a more qualified work force than in the UK.\n\nSurprisingly enough, the fees and costs involved in UK Gaming regulation are not as high as many would think, for such a highly respected license, but the list of requirements set by the Gambling Commission in the UK is long and complicated. Once a company holds a license, it is also closely monitored and controlled, so before applying for an UK Gaming license, it is of outmost important that each gaming company doing so knows what they are getting into.\n<h2>Our role should you opt for UK Gaming Regulation</h2>\nPorat Group\'s experienced lawyers, with many years’ experience in the online gaming industry and regulation related to it, can advise all companies interested in proceeding with UK Gaming Regulation on what the requirements are, what tax rates and compliance they can expect after being licensed and more. This will help companies interested in this option decide if it is right for them or not.\n\nShould the company in question decide that they really do want a UK Gaming license, our lawyers are also qualified to handle all administrative tasks and contacts with authorities required during the application process. Once a UK Gaming license has been issued, clients can also enlist us for consulting services regarding renewals, compliance and more, should there be a need for it.\n\nContact us in order to find out more about the time frames and costs involved, should you decide to move forward with regulation in the UK. All clients have the right to a non-binding and complimentary consultation at Porat Group, before any process is started.', 'Gaming regulation in the UK', '', 'inherit', 'closed', 'closed', '', '3438-autosave-v1', '', '', '2020-12-02 10:16:27', '2020-12-02 07:16:27', '', 3438, 'https://www.porat.com/3438-autosave-v1/', 0, 'revision', '', 0),
(3702, 6, '2020-12-02 10:17:08', '2020-12-02 07:17:08', 'A gaming license from the United Kingdom is one of the most prestigious gaming licenses in the world, due to the government’s support of the industry, the high level of protection for the players, and the fact that it gives the holder legal access to various extremely lucrative European markets. Moreover, London is a major center of the online gaming market, and generally, an online gaming company cannot find a more qualified work force than in the UK.\r\n\r\nSurprisingly enough, the fees and costs involved in UK Gaming regulation are not as high as many would think, for such a highly respected license, but the list of requirements set by the Gambling Commission in the UK is long and complicated. Once a company holds a license, it is also closely monitored and controlled, so before applying for an UK Gaming license, it is of outmost important that each gaming company doing so knows what they are getting into.\r\n<h2>Our role should you opt for UK Gaming Regulation</h2>\r\nPorat Group\'s experienced lawyers, with many years’ experience in the online gaming industry and regulation related to it, can advise all companies interested in proceeding with UK Gaming Regulation on what the requirements are, what tax rates and compliance they can expect after being licensed and more. This will help companies interested in this option decide if it is right for them or not.\r\n\r\nShould the company in question decide that they really do want a UK Gaming license, our lawyers are also qualified to handle all administrative tasks and contacts with authorities required during the application process. Once a UK Gaming license has been issued, clients can also enlist us for consulting services regarding renewals, compliance and more, should there be a need for it.\r\n\r\nContact us in order to find out more about the time frames and costs involved, should you decide to move forward with regulation in the UK. All clients have the right to a non-binding and complimentary consultation at Porat Group, before any process is started.', 'Gaming regulation in the UK', '', 'inherit', 'closed', 'closed', '', '3438-revision-v1', '', '', '2020-12-02 10:17:08', '2020-12-02 07:17:08', '', 3438, 'https://www.porat.com/3438-revision-v1/', 0, 'revision', '', 0),
(3703, 6, '2020-12-02 10:32:39', '2020-12-02 07:32:39', 'The authorities in Gibraltar have introduced a legislation for online gaming in 1998, and while this jurisdiction seemed a very unlikely location for online gaming companies at first, Gibraltar soon surprised everyone by becoming one of the most sought after jurisdictions in all of Europe for gaming licenses.\n<h2>Reasons for Gibraltar’s popularity</h2>\nFirst of all, Gibraltar is a part of the British Isles, and therefore an EU member state, with all the benefits that entails. The tax rate in Gibraltar is also highly favorable compared to many other European jurisdictions and companies are not required to pay VAT, and the fact that the jurisdiction is located on the southern tip of Spain and has a large expat population means that there is an educated and experienced workforce there.\n\niGaming is a very big business in Gibraltar, with 20 iGaming firms already based in Gibraltar (many of which are considered as highly esteemed companies in the business), and more than 2,000 people are employed by companies related to the industry.\n\nIt is, however, worth noting that the fees for Gibraltar gaming licensing may seem higher than the fees in other jurisdictions, and that all license holders must undergo a thorough audit every year, as well as fulfill a number of requirements before obtaining a Gibraltar gaming license. The government in Gibraltar generally also tries to keep the number of licenses they approve rather low, so for most gaming companies, it is notoriously difficult to obtain a gaming license from this jurisdiction today.\n\nDue to this, our law firm recommends a Gibraltar gaming license mainly for gaming companies with a long term commitment to the industry.\n\nShould you have a gaming company that is just starting out and would like recommendations for other, less expensive and demanding jurisdictions for a gaming license, we would be more than happy to advice you on other jurisdictions that might suit you better.\n<h2>What Porat Group can do for you</h2>\nIf you are interested in Gibraltar Gaming regulation, the most important thing you will need help with is finding out if you are qualified for a license from this jurisdictions. Porat Group\'s lawyers will therefore explain all of the requirements to you, and should it turn out that you are a suitable candidate for a Gibraltar Gaming license, we will help you with the entire licensing process - from all the paperwork to contacts with the authorities, advise on compliance with different government policies, and more.', 'GAMING REGULATION IN GIBRALTAR', '', 'inherit', 'closed', 'closed', '', '3436-autosave-v1', '', '', '2020-12-02 10:32:39', '2020-12-02 07:32:39', '', 3436, 'https://www.porat.com/3436-autosave-v1/', 0, 'revision', '', 0),
(3704, 6, '2020-12-02 10:33:12', '2020-12-02 07:33:12', 'The authorities in Gibraltar have introduced a legislation for online gaming in 1998, and while this jurisdiction seemed a very unlikely location for online gaming companies at first, Gibraltar soon surprised everyone by becoming one of the most sought after jurisdictions in all of Europe for gaming licenses.\r\n<h2>Reasons for Gibraltar’s popularity</h2>\r\nFirst of all, Gibraltar is a part of the British Isles, and therefore an EU member state, with all the benefits that entails. The tax rate in Gibraltar is also highly favorable compared to many other European jurisdictions and companies are not required to pay VAT, and the fact that the jurisdiction is located on the southern tip of Spain and has a large expat population means that there is an educated and experienced workforce there.\r\n\r\niGaming is a very big business in Gibraltar, with 20 iGaming firms already based in Gibraltar (many of which are considered as highly esteemed companies in the business), and more than 2,000 people are employed by companies related to the industry.\r\n\r\nIt is, however, worth noting that the fees for Gibraltar gaming licensing may seem higher than the fees in other jurisdictions, and that all license holders must undergo a thorough audit every year, as well as fulfill a number of requirements before obtaining a Gibraltar gaming license. The government in Gibraltar generally also tries to keep the number of licenses they approve rather low, so for most gaming companies, it is notoriously difficult to obtain a gaming license from this jurisdiction today.\r\n\r\nDue to this, our law firm recommends a Gibraltar gaming license mainly for gaming companies with a long term commitment to the industry.\r\n\r\nShould you have a gaming company that is just starting out and would like recommendations for other, less expensive and demanding jurisdictions for a gaming license, we would be more than happy to advice you on other jurisdictions that might suit you better.\r\n<h2>What Porat Group can do for you</h2>\r\nIf you are interested in Gibraltar Gaming regulation, the most important thing you will need help with is finding out if you are qualified for a license from this jurisdictions. Porat Group\'s lawyers will therefore explain all of the requirements to you, and should it turn out that you are a suitable candidate for a Gibraltar Gaming license, we will help you with the entire licensing process - from all the paperwork to contacts with the authorities, advise on compliance with different government policies, and more.', 'GAMING REGULATION IN GIBRALTAR', '', 'inherit', 'closed', 'closed', '', '3436-revision-v1', '', '', '2020-12-02 10:33:12', '2020-12-02 07:33:12', '', 3436, 'https://www.porat.com/3436-revision-v1/', 0, 'revision', '', 0),
(3705, 6, '2021-01-13 19:19:54', '2021-01-13 16:19:54', 'When Estonia introduced a license specifically for cryptocurrency exchanges in November 2017 it was groundbreaking, and Estonian cryptocurrency licenses, issued by the Estonian Financial Intelligence Unit or FIU for short, continue to be sought after, since the government is extremely supportive of the cryptocurrency industry in general, allowing many companies within the industry to really thrive and for truly innovative thinking.\n\nPorat Group has extensive experience with these licenses, <strong>having assisted over 50 companies successfully obtain FIU cryptocurrency exchange licenses so far</strong>, making us a top choice for companies interested in these licenses and the regulatory process in Estonia.\n\nUntil recently 2 different financial licenses were required for those wanting to operate a licensed cryptocurrency exchange in Estonia, the Virtual Currency Exchange Service License, and the Virtual Currency Wallet Service License but in 2020 the two separate licenses were united into one single license, simplifying the regulation process.\n<h2>Important information for anyone interested in an Estonian cryptocurrency exchange license</h2>\nThe most important thing to know if you are interested in regulating your cryptocurrency exchange business in Estonia is that you will be required to open a local branch of a foreign company or a company in Estonia to do so, and the center of management of the business in question is required to be in Estonia.\n\nThe company must have at least one shareholder and one director (can be the same person and these can be non-residents of Estonia, however one of the board members must be the company’s representative in Estonia). All board members and AML (Anti Money Laundering) officers must fit the \"Fit and Proper\" criteria of the FIU in terms of having adequate knowledge of AML regulation.\n\nDuring the regulatory process, the FIU is allowed to invite the AML officer to a personal meeting if needed. During this meeting, the purpose is to confirm that the AML officer indeed has the necessary knowledge of AML rules and Estonian laws required. If the officer is called to such a meeting by the FIU, the officer has a 60 day period to show up to the meeting.\n\nThe minimum share capital requirement is 12 000 euros (cannot be denominated in cryptocurrencies) and the new application fee for each application is 3300 euros.\n<h2>Why choose an Estonian cryptocurrency exchange license over other options?</h2>\nBesides Estonia being a true pioneer in the cryptocurrency and Fintech industries, some other advantages of this jurisdiction are:\n<ul>\n 	<li>The licensing fees are attractive compared to many other jurisdictions, even after the increased application fee that was introduced in 2020.</li>\n 	<li>The entire regulatory process also takes less time than in other jurisdictions, where the process can take months or even years. In Estonia, the process generally takes weeks. The regulator officially has 60 days to make a decision, which can be extended to 120 days if needed, according to the instructions for the regulatory process.</li>\n 	<li>The regulatory process is simple and straightforward in general.</li>\n 	<li>Experienced regulators and partners, such as banks, who have dealt with foreign investors and business people in the past, due to the large amounts of investors who have already flocked to the country following the innovative legislation the country offers.</li>\n 	<li>Corporate tax exemption on reinvested profits.</li>\n 	<li>Low dividend tax on dividends paid to legal entities.</li>\n 	<li>Possibility of an e-residency card that gives the holder access to various government services.</li>\n 	<li>Access to EU bank accounts.</li>\n</ul>\n<h2>Documents needed in order to apply for an Estonian cryptocurrency exchange license</h2>\nIn order to obtain the Estonian cryptocurrency exchange license the following documents must be submitted to the Estonian Financial Intelligence Unit (FIU):\n<ul>\n 	<li style=\"list-style-type: none;\">\n<ul>\n 	<li>Criminal record for all persons involved in the company (such as share holders, directors, board members, owners);</li>\n 	<li>Copies of the ID of all the persons mentioned above (passport);</li>\n 	<li>A complete application.</li>\n</ul>\n</li>\n</ul>\nThe documents can be submitted in either English or Russian, and each document must be certified with an apostille that can not be older than max. 3 months.\n\nThe regulator may also request additional information as needed, such as CVs for the involved persons, business plans etc.\n<h2>Interested?</h2>\nIf the above sounds suitable for your cryptocurrency exchange and you think an Estonian license might be a good option for you, the lawyers at Porat Group would be happy to tell you more about it, as well as explain how an Estonian cryptocurrency exchange license compares to other similar licenses.\n\nNaturally we can also take a hands on approach to the entire regulatory process if you decide to apply, as we have with over 50 companies who have already obtained the license succthrough us.\n\nWe are also able assist with introductory services to banks, payment providers and other service providers as needed.', 'Estonian Licensed Cryptocurrency Exchanges', '', 'inherit', 'closed', 'closed', '', '2554-autosave-v1', '', '', '2021-01-13 19:19:54', '2021-01-13 16:19:54', '', 2554, 'https://www.porat.com/2554-autosave-v1/', 0, 'revision', '', 0),
(3706, 6, '2020-12-02 10:38:26', '2020-12-02 07:38:26', 'Estonian Cryptocurrency Exchanges are defined in the Estonian law as Providers of Alternative Means of Payment, licensed as an Estonian Financial Institution by holding a Financial Activity License from the Estonian Financial Intelligence Unit (FIU), which is the Anti Money Laundering (AML) authority in Estonia with the ability to grant, revoke and supervise financial activity licenses. The AML and KYC requirements the service providers are subject to are set forth in the Estonian Money Laundering and Terrorist Financing Act and other legal guidelines given by the Estonian Minister of Finance.\r\n\r\nA cardinal part of the licensing procedure, and a significant FIU consideration for granting licenses is the quality of the Rules of Procedures which according to the Act, must be meticulously drafted by the license applicant. These Rules of Procedure must comply with the Estonian law\'s various requirements, which require them, among other things, to include specification of customer due diligence measures the company intends to take, assessment of money laundering risk, the manner of the collection and keeping of records, internal control rules, etc.\r\n\r\nThe most generalized instruction of the Act is that the service provider must pay special attention to the activities of the customer or any person operating on their behalf, and to circumstances that refer to money laundering or terrorist financing, including high-value and unusual transactions with no sensible economic explanation.\r\n\r\nThe service provider must carry out due diligence inspections upon engaging a client, as well as upon conducting transactions over a certain amount, even if the customer was previously verified. An additional specific requirement for Providers of Alternative Means of Payment, directing them to identify a customer not only when engaging them for the first time but also when the customer conducts a certain amount of monthly transactions. The regulator also uses monetary thresholds to separate cases where the company is obligated to refuse the customer/ transaction form cases that are subject to the company\'s discretion.\r\n\r\nNeedless to say, when the company suspects a customer of money laundering or the authenticity of KYC documents they provided, due diligence must be meticulously carried out again.\r\n\r\nOne of the \"catches\" of the Estonian AML law is the requirement for a face to face or video conference meeting when engaging a new customer. However, during our legal research we found this requirement can be bypassed by taking \"Enhanced\" due diligence measures.\r\n\r\nThe Estonian law categorizes Estonian and EEA citizens as low risk customers and enables the Exchange to identify them by taking \"Simplified\" due diligence measures. This might be the reason for some Estonian exchanges\' decision to mainly target EU markets.\r\n\r\nThere are specified lists of the required KYC documents for individual customers as well as corporate customers. There are also legal requirements to regularly train all employees which stand in contact with customers, and to appoint a suitable compliance officer to make sure the company complies to the law and to serve as the Regulator\'s Point of Contact. When applying for an Estonian license, we advise companies to pay careful attention to the person they suggest as their compliance officer, since the regulator takes this position very seriously and vets the candidate\'s records, experience, abilities and education.\r\n\r\nPorat Group offers interested companies all the services needed for licensing in Estonia. <a href=\"https://www.porat.com/contact/\">Contact us</a> for more information.', 'Estonian Licensed Cryptocurrency Exchanges', '', 'inherit', 'closed', 'closed', '', '2554-revision-v1', '', '', '2020-12-02 10:38:26', '2020-12-02 07:38:26', '', 2554, 'https://www.porat.com/2554-revision-v1/', 0, 'revision', '', 0);
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(3707, 6, '2020-12-02 10:44:20', '2020-12-02 07:44:20', 'Estonian Cryptocurrency Exchanges are defined in the Estonian law as \"Providers of Alternative Means of Payment\", licensed as an Estonian Financial Institution by holding a Financial Activity License from the Estonian Financial Intelligence Unit (FIU), which is the Anti Money Laundering (AML) authority in Estonia with the ability to grant, revoke and supervise financial activity licenses. The AML and KYC requirements the service providers are subject to are set forth in the Estonian Money Laundering and Terrorist Financing Act and other legal guidelines given by the Estonian Minister of Finance.\r\n<h2>Requirements</h2>\r\nAn important part of the licensing procedure, and a significant FIU consideration for granting licenses is the quality of the Rules of Procedures which according to the Act, must be meticulously drafted by the license applicant. These Rules of Procedure must comply with the Estonian law\'s various requirements, which require them, among other things, to include specification of customer due diligence measures the company intends to take, assessment of money laundering risk, the manner of the collection and keeping of records, internal control rules, etc.\r\n\r\nThe most generalized instruction of the Act is that the service provider must pay special attention to the activities of the customer or any person operating on their behalf, and to circumstances that refer to money laundering or terrorist financing, including high-value and unusual transactions with no sensible economic explanation.\r\n\r\nThe service provider must carry out due diligence inspections upon engaging a client, as well as upon conducting transactions over a certain amount, even if the customer was previously verified. An additional specific requirement for Providers of Alternative Means of Payment, directing them to identify a customer not only when engaging them for the first time but also when the customer conducts a certain amount of monthly transactions. The regulator also uses monetary thresholds to separate cases where the company is obligated to refuse the customer/ transaction form cases that are subject to the company\'s discretion.\r\n\r\nNeedless to say, when the company suspects a customer of money laundering or the authenticity of KYC documents they provided, due diligence must be meticulously carried out again.\r\n\r\nOne of the \"catches\" of the Estonian AML law is the requirement for a face to face or video conference meeting when engaging a new customer. However, during our legal research we found this requirement can be bypassed by taking \"Enhanced\" due diligence measures.\r\n\r\nThe Estonian law categorizes Estonian and EEA citizens as low risk customers and enables the Exchange to identify them by taking \"Simplified\" due diligence measures. This might be the reason for some Estonian exchanges\' decision to mainly target EU markets.\r\n\r\nThere are specified lists of the required KYC documents for individual customers as well as corporate customers. There are also legal requirements to regularly train all employees which stand in contact with customers, and to appoint a suitable compliance officer to make sure the company complies to the law and to serve as the Regulator\'s Point of Contact. When applying for an Estonian license, we advise companies to pay careful attention to the person they suggest as their compliance officer, since the regulator takes this position very seriously and vets the candidate\'s records, experience, abilities and education.\r\n<h2>How can Porat Group help?</h2>\r\nPorat Group has excellent connections with various partners, regulators and other relevant parties in Estonia, and has multiple lawyers with extensive experience, for an impressive amount of time, with this specific jurisdiction.\r\n\r\nPorat Group offers interested companies all the services needed for licensing in Estonia. <a href=\"/?page_id=520\">Contact us</a> for more information.', 'Estonian Licensed Cryptocurrency Exchanges', '', 'inherit', 'closed', 'closed', '', '2554-revision-v1', '', '', '2020-12-02 10:44:20', '2020-12-02 07:44:20', '', 2554, 'https://www.porat.com/2554-revision-v1/', 0, 'revision', '', 0),
(3708, 6, '2020-12-02 10:57:48', '2020-12-02 07:57:48', 'Estonian Cryptocurrency Exchanges are defined in the Estonian law as \"Providers of Alternative Means of Payment\", licensed as an Estonian Financial Institution by holding a Financial Activity License from the Estonian Financial Intelligence Unit (FIU), which is the Anti Money Laundering (AML) authority in Estonia with the ability to grant, revoke and supervise financial activity licenses. The AML and KYC requirements the service providers are subject to are set forth in the Estonian Money Laundering and Terrorist Financing Act and other legal guidelines given by the Estonian Minister of Finance.\r\n<h2>Requirements</h2>\r\nAn important part of the licensing procedure, and a significant FIU consideration for granting licenses, is the quality of the Rules of Procedures which according to the Act, must be meticulously drafted by the license applicant.\r\n\r\nThese Rules of Procedure must comply with the Estonian law\'s various requirements, which require them, among other things, to include specification of customer due diligence measures the company intends to take, assessment of money laundering risk, the manner of the collection and keeping of records, internal control rules, and several other aspects.\r\n\r\nThe most generalized instruction of the Act is that the service provider must pay special attention to the activities of the customer or any person operating on their behalf, as well as to circumstances that refer to money laundering or terrorist financing, including high-value and unusual transactions that lack a sensible or reasonable economic explanation.\r\n\r\nThe service provider must also carry out due diligence inspections upon engaging a client, as well as upon conducting transactions over a certain amount, even if the customer had been previously verified. An additional specific requirement for Providers of Alternative Means of Payment (in other words: Cryptocurrency Exchanges) directing them to identify a customer not only when engaging them for the first time but also when the customer conducts a certain amount of monthly transactions.\r\n\r\nThe regulator also uses monetary thresholds to separate cases where the company is obligated to refuse the customer from transaction cases that are subject to the company\'s discretion alone.\r\n\r\nNeedless to say, when the company suspects a customer of money laundering or questions the authenticity of the KYC documents they provided, due diligence must be meticulously carried out again.\r\n\r\nOne of the \"catches\" of the Estonian AML law is the requirement for a face to face or video conference meeting when engaging a new customer. However, during Porat Group\'s extensive legal research we found this requirement can be bypassed by taking \"enhanced\" due diligence measures for each new customer instead.\r\n\r\nThe Estonian law categorizes Estonian and EEA citizens as low risk customers and enables the Exchange to identify them by taking \"simplified\" due diligence measures for every new client. This might be the reason for some Estonian exchanges\' decision to mainly target EU markets.\r\n\r\nThere are specified lists of the required KYC documents for individual customers as well as corporate customers. There are also legal requirements to regularly train all employees which stand in contact with customers, as well as to appoint a suitable compliance officer to make sure the company complies to the law and to serve as the Regulator\'s Point of Contact.\r\n\r\nWhen applying for an Estonian license, we advise companies to pay careful attention to the person they suggest as their compliance officer, since the regulator takes this position very seriously and vets the candidate\'s records, experience, abilities and education very thoroughly.\r\n<h2>How can Porat Group help?</h2>\r\nPorat Group has excellent connections with various partners, regulators and other relevant parties in Estonia, and has multiple lawyers with extensive experience, for an impressive amount of time, with this specific jurisdiction.\r\n\r\nPorat Group offers interested companies all the services needed for licensing in Estonia. <a href=\"/?page_id=520\">Contact us</a> for more information.', 'Estonian Licensed Cryptocurrency Exchanges', '', 'inherit', 'closed', 'closed', '', '2554-revision-v1', '', '', '2020-12-02 10:57:48', '2020-12-02 07:57:48', '', 2554, 'https://www.porat.com/2554-revision-v1/', 0, 'revision', '', 0),
(3709, 6, '2020-12-03 11:07:52', '2020-12-03 08:07:52', 'AUSTRAC (the Australian Transaction Reports and Analysis Center) has recently come out with a number of new regulations imposing unified AML and KYC obligations on cryptocurrency exchanges (\"Digital Currency Exchanges\" or DCE in local jargon). This regime\'s purpose is to ensure solidarity and quality of the DCE\'s AML practices in order to prevent money laundering and terrorist financing which may be done through them.\n\nThe main requirements are similar to common AML requirements, and include adopting and publishing an AML/KYC policy, sufficiently identifying and verifying customers\' identities, reporting suspicious transactions and transactions of a value that exceeds 10,000 AUD, as well as record keeping.\n\nEffectively, this means there now exists a relatively simple and economic way to operate legally as a cryptocurrency exchange in Australia, which also paves the way to opening bank accounts with local Australian banks.\n\nThe application process includes providing some personal information and KYC materials of the directors and shareholders, as well as filing the necessary application form to AUSTRAC, as well as KYC documents of the persons behind the company. The company applying for the license must specify the details of the compliance officer (which could be the director). This is the official executive who would be responsible for the enforcement and implementation of the AML/KYC program as required by the regulation. The form also required specification of the shareholders and directors\' identity and details. Other than the form, KYC documents of the directors and shareholders is required.\n\nFor enquiries about obtaining this license, <a href=\"https://www.porat.com/contact/\">contact us</a>.\n\n&nbsp;', 'Australia\'s New Cryptocurrency Exchange Regulations', '', 'inherit', 'closed', 'closed', '', '2612-autosave-v1', '', '', '2020-12-03 11:07:52', '2020-12-03 08:07:52', '', 2612, 'https://www.porat.com/2612-autosave-v1/', 0, 'revision', '', 0),
(3710, 6, '2020-12-03 11:07:58', '2020-12-03 08:07:58', 'AUSTRAC (the Australian Transaction Reports and Analysis Center) has recently come out with a number of new regulations imposing unified AML and KYC obligations on cryptocurrency exchanges (\"Digital Currency Exchanges\" or DCE in local jargon). This regime\'s purpose is to ensure solidarity and quality of the DCE\'s AML practices in order to prevent money laundering and terrorist financing which may be done through them.\r\n\r\nThe main requirements are similar to common AML requirements, and include adopting and publishing an AML/KYC policy, sufficiently identifying and verifying customers\' identities, reporting suspicious transactions and transactions of a value that exceeds 10,000 AUD, as well as record keeping.\r\n\r\nEffectively, this means there now exists a relatively simple and economic way to operate legally as a cryptocurrency exchange in Australia, which also paves the way to opening bank accounts with local Australian banks.\r\n\r\nThe application process includes providing some personal information and KYC materials of the directors and shareholders, as well as filing the necessary application form to AUSTRAC, as well as KYC documents of the persons behind the company. The company applying for the license must specify the details of the compliance officer (which could be the director). This is the official executive who would be responsible for the enforcement and implementation of the AML/KYC program as required by the regulation. The form also required specification of the shareholders and directors\' identity and details. Other than the form, KYC documents of the directors and shareholders is required.\r\n\r\nFor enquiries about obtaining this license, <a href=\"https://www.porat.com/contact/\">contact us</a>.\r\n\r\n&nbsp;', 'Australia\'s New Cryptocurrency Exchange Regulations', '', 'inherit', 'closed', 'closed', '', '2612-revision-v1', '', '', '2020-12-03 11:07:58', '2020-12-03 08:07:58', '', 2612, 'https://www.porat.com/2612-revision-v1/', 0, 'revision', '', 0),
(3711, 6, '2020-12-03 11:55:44', '2020-12-03 08:55:44', 'A company that is interested in expanding its business operations by opening additional branches can do so by establishing new branches (owned by the company), or it can also sell franchises to franchisees wanting to share in the company\'s success.\n\nHowever, before outlining the franchise strategy, a number of important points need to be taken into account:\n<ul>\n 	<li>It is very important to register a trademark for the company\'s logo, or at least submit an application for registration (registering a trademark is liable to be a lengthy procedure, but as soon as the registration is accepted, it applies retroactively from the date the application for registration was submitted). Often the company logo, in the public\'s eyes, is equivalent to its reputation, and therefore use of the company logo by unauthorized third parties could cause serious damage to the company\'s reputation.</li>\n 	<li>Location, location, location – it must be remembered that from now on, the franchisee is not only a partner to the success of the franchising company, but it can also cause harm to the image and reputation of the chain. One of the worst things that can happen to a franchising chain is for one of its branches to stand empty, and so the company must be involved in the choice of location for the branch. Moreover, the franchising company must ensure that its status is also defined in the rental agreement with the landlord, and that it will have the right of first refusal to rent the property in the event that the franchisee breaches the rental agreement, or alternatively, the franchising company can rent the property itself, with the franchisee defined as an \"authorized person\".</li>\n 	<li>Uniformity - a franchising company interested in maintaining its standards has to ensure that the standard it has outlined for itself is upheld by the franchisee in every possible aspect, from design of the branch to service policy, and everything in between. In this context, it is important to remember that the franchisee usually finds himself alone in his interactions with the supplier, the customer, and even his own employees. To this end, it is not enough for the franchise agreement to define, for example, the size of the napkin. The franchising company has to draw up a set of procedures detailing in depth all the procedures of the chain, and prepare the franchisee himself in how to deal with any problems that may arise, in accordance with company procedures. The franchising company also has to set up a training system to prepare the new franchisee for what lies ahead. This training should not only be theoretical, but also include practical work in which the franchisee will acquire real experience in each of the roles that his employees are going to fill. If we are talking about a food chain, the franchisee needs to acquire experience as a waiter, barman, cook, shift supervisor, and so on.</li>\n 	<li>The most complicated and complex decision of the franchising company would appear to be the choice of franchisee, and so the company needs to make a careful selection of its franchisees, and there is no \"textbook solution\" that can help in this matter. At the same time, while it is important for the potential franchisee to be independent and a person of initiative, since the franchising company is not looking to add a burden, at the same time the franchisee should not be too independent: as mentioned, he needs to operate in accordance with the outline of the franchising company, and cannot employ too much discretion. Another point is the franchisee\'s source of finance. Naturally the company is looking for a franchisee whose sources of finance are reliable, orderly, and ongoing. As mentioned, a branch that closes, even if it is purely the franchisee\'s fault, will always cause damage to the image of the entire chain.</li>\n 	<li>In addition, the company has to build a detailed business model in which it relates, among other things, to the way in which royalties will be received from the franchisee, the cost of the franchise, the cost of renewing the franchise, division of profits, and so forth.</li>\n</ul>\nCompanies and individuals that are interested in expanding their business activities by selling franchises, while minimizing the risks involved, are invited to contact us to arrange a consultation, during which we will be happy to share our experience and guide them to success.', 'Opening a franchising company (chain)', '', 'inherit', 'closed', 'closed', '', '3302-autosave-v1', '', '', '2020-12-03 11:55:44', '2020-12-03 08:55:44', '', 3302, 'https://www.porat.com/3302-autosave-v1/', 0, 'revision', '', 0),
(3712, 6, '2020-12-03 11:45:32', '2020-12-03 08:45:32', 'A company that is interested in expanding its business operations by opening additional branches can do so by establishing new branches (owned by the company), or it can also sell franchises to franchisees wanting to share in the company\'s success. At the same time, before outlining the franchise strategy, a number of important points need to be taken into account:\r\n<ul>\r\n 	<li>It is very important to register a trademark for the company\'s logo, or at least submit an application for registration (registering a trademark is liable to be a lengthy procedure, but as soon as the registration is accepted, it applies retroactively from the date the application for registration was submitted). Often the company logo, in the public\'s eyes, is equivalent to its reputation, and therefore use of the company logo by unauthorized third parties could cause serious damage to the company\'s reputation.</li>\r\n 	<li>Location, location, location – it must be remembered that from now on, the franchisee is not only a partner to the success of the franchising company, but it can also cause harm to the image and reputation of the chain. One of the worst things that can happen to a franchising chain is for one of its branches to stand empty, and so the company must be involved in the choice of location for the branch. Moreover, the franchising company must ensure that its status is also defined in the rental agreement with the landlord, and that it will have the right of first refusal to rent the property in the event that the franchisee breaches the rental agreement, or alternatively, the franchising company can rent the property itself, with the franchisee defined as an \"authorized person\".</li>\r\n 	<li>Uniformity - a franchising company interested in maintaining its standards has to ensure that the standard it has outlined for itself is upheld by the franchisee in every possible aspect, from design of the branch to service policy, and everything in between. In this context, it is important to remember that the franchisee usually finds himself alone in his interactions with the supplier, the customer, and even his own employees. To this end, it is not enough for the franchise agreement to define, for example, the size of the napkin. The franchising company has to draw up a set of procedures detailing in depth all the procedures of the chain, and prepare the franchisee himself in how to deal with any problems that may arise, in accordance with company procedures. The franchising company also has to set up a training system to prepare the new franchisee for what lies ahead. This training should not only be theoretical, but also include practical work in which the franchisee will acquire real experience in each of the roles that his employees are going to fill. If we are talking about a food chain, the franchisee needs to acquire experience as a waiter, barman, cook, shift supervisor, and so on.</li>\r\n 	<li>The most complicated and complex decision of the franchising company would appear to be the choice of franchisee, and so the company needs to make a careful selection of its franchisees, and there is no \"textbook solution\" that can help in this matter. At the same time, while it is important for the potential franchisee to be independent and a person of initiative, since the franchising company is not looking to add a burden, at the same time the franchisee should not be too independent: as mentioned, he needs to operate in accordance with the outline of the franchising company, and cannot employ too much discretion. Another point is the franchisee\'s source of finance. Naturally the company is looking for a franchisee whose sources of finance are reliable, orderly, and ongoing. As mentioned, a branch that closes, even if it is purely the franchisee\'s fault, will always cause damage to the image of the entire chain.</li>\r\n 	<li>In addition, the company has to build a detailed business model in which it relates, among other things, to the way in which royalties will be received from the franchisee, the cost of the franchise, the cost of renewing the franchise, division of profits, and so forth.</li>\r\n</ul>\r\nCompanies that are interested in expanding their business activities by selling franchises, while minimizing the risks involved, are invited to contact us to arrange a meeting, at which we will be happy to share our experience and guide them to success.', 'Opening a franchising company (chain)', '', 'inherit', 'closed', 'closed', '', '3302-revision-v1', '', '', '2020-12-03 11:45:32', '2020-12-03 08:45:32', '', 3302, 'https://www.porat.com/3302-revision-v1/', 0, 'revision', '', 0),
(3713, 6, '2020-12-03 11:46:04', '2020-12-03 08:46:04', 'A company that is interested in expanding its business operations by opening additional branches can do so by establishing new branches (owned by the company), or it can also sell franchises to franchisees wanting to share in the company\'s success. At the same time, before outlining the franchise strategy, a number of important points need to be taken into account:\r\n<ul>\r\n 	<li>It is very important to register a trademark for the company\'s logo, or at least submit an application for registration (registering a trademark is liable to be a lengthy procedure, but as soon as the registration is accepted, it applies retroactively from the date the application for registration was submitted). Often the company logo, in the public\'s eyes, is equivalent to its reputation, and therefore use of the company logo by unauthorized third parties could cause serious damage to the company\'s reputation.</li>\r\n 	<li>Location, location, location – it must be remembered that from now on, the franchisee is not only a partner to the success of the franchising company, but it can also cause harm to the image and reputation of the chain. One of the worst things that can happen to a franchising chain is for one of its branches to stand empty, and so the company must be involved in the choice of location for the branch. Moreover, the franchising company must ensure that its status is also defined in the rental agreement with the landlord, and that it will have the right of first refusal to rent the property in the event that the franchisee breaches the rental agreement, or alternatively, the franchising company can rent the property itself, with the franchisee defined as an \"authorized person\".</li>\r\n 	<li>Uniformity - a franchising company interested in maintaining its standards has to ensure that the standard it has outlined for itself is upheld by the franchisee in every possible aspect, from design of the branch to service policy, and everything in between. In this context, it is important to remember that the franchisee usually finds himself alone in his interactions with the supplier, the customer, and even his own employees. To this end, it is not enough for the franchise agreement to define, for example, the size of the napkin. The franchising company has to draw up a set of procedures detailing in depth all the procedures of the chain, and prepare the franchisee himself in how to deal with any problems that may arise, in accordance with company procedures. The franchising company also has to set up a training system to prepare the new franchisee for what lies ahead. This training should not only be theoretical, but also include practical work in which the franchisee will acquire real experience in each of the roles that his employees are going to fill. If we are talking about a food chain, the franchisee needs to acquire experience as a waiter, barman, cook, shift supervisor, and so on.</li>\r\n 	<li>The most complicated and complex decision of the franchising company would appear to be the choice of franchisee, and so the company needs to make a careful selection of its franchisees, and there is no \"textbook solution\" that can help in this matter. At the same time, while it is important for the potential franchisee to be independent and a person of initiative, since the franchising company is not looking to add a burden, at the same time the franchisee should not be too independent: as mentioned, he needs to operate in accordance with the outline of the franchising company, and cannot employ too much discretion. Another point is the franchisee\'s source of finance. Naturally the company is looking for a franchisee whose sources of finance are reliable, orderly, and ongoing. As mentioned, a branch that closes, even if it is purely the franchisee\'s fault, will always cause damage to the image of the entire chain.</li>\r\n 	<li>In addition, the company has to build a detailed business model in which it relates, among other things, to the way in which royalties will be received from the franchisee, the cost of the franchise, the cost of renewing the franchise, division of profits, and so forth.</li>\r\n</ul>\r\nCompanies and individuals that are interested in expanding their business activities by selling franchises, while minimizing the risks involved, are invited to contact us to arrange a consultation, during which we will be happy to share our experience and guide them to success.', 'Opening a franchising company (chain)', '', 'inherit', 'closed', 'closed', '', '3302-revision-v1', '', '', '2020-12-03 11:46:04', '2020-12-03 08:46:04', '', 3302, 'https://www.porat.com/3302-revision-v1/', 0, 'revision', '', 0),
(3714, 6, '2020-12-03 11:56:00', '2020-12-03 08:56:00', 'A company that is interested in expanding its business operations by opening additional branches can do so by establishing new branches (owned by the company), or it can also sell franchises to franchisees wanting to share in the company\'s success.\r\n\r\nHowever, before outlining the franchise strategy, a number of important points need to be taken into account:\r\n<ul>\r\n 	<li>It is very important to register a trademark for the company\'s logo, or at least submit an application for registration (registering a trademark is liable to be a lengthy procedure, but as soon as the registration is accepted, it applies retroactively from the date the application for registration was submitted). Often the company logo, in the public\'s eyes, is equivalent to its reputation, and therefore use of the company logo by unauthorized third parties could cause serious damage to the company\'s reputation.</li>\r\n 	<li>Location, location, location – it must be remembered that from now on, the franchisee is not only a partner to the success of the franchising company, but it can also cause harm to the image and reputation of the chain. One of the worst things that can happen to a franchising chain is for one of its branches to stand empty, and so the company must be involved in the choice of location for the branch. Moreover, the franchising company must ensure that its status is also defined in the rental agreement with the landlord, and that it will have the right of first refusal to rent the property in the event that the franchisee breaches the rental agreement, or alternatively, the franchising company can rent the property itself, with the franchisee defined as an \"authorized person\".</li>\r\n 	<li>Uniformity - a franchising company interested in maintaining its standards has to ensure that the standard it has outlined for itself is upheld by the franchisee in every possible aspect, from design of the branch to service policy, and everything in between. In this context, it is important to remember that the franchisee usually finds himself alone in his interactions with the supplier, the customer, and even his own employees. To this end, it is not enough for the franchise agreement to define, for example, the size of the napkin. The franchising company has to draw up a set of procedures detailing in depth all the procedures of the chain, and prepare the franchisee himself in how to deal with any problems that may arise, in accordance with company procedures. The franchising company also has to set up a training system to prepare the new franchisee for what lies ahead. This training should not only be theoretical, but also include practical work in which the franchisee will acquire real experience in each of the roles that his employees are going to fill. If we are talking about a food chain, the franchisee needs to acquire experience as a waiter, barman, cook, shift supervisor, and so on.</li>\r\n 	<li>The most complicated and complex decision of the franchising company would appear to be the choice of franchisee, and so the company needs to make a careful selection of its franchisees, and there is no \"textbook solution\" that can help in this matter. At the same time, while it is important for the potential franchisee to be independent and a person of initiative, since the franchising company is not looking to add a burden, at the same time the franchisee should not be too independent: as mentioned, he needs to operate in accordance with the outline of the franchising company, and cannot employ too much discretion. Another point is the franchisee\'s source of finance. Naturally the company is looking for a franchisee whose sources of finance are reliable, orderly, and ongoing. As mentioned, a branch that closes, even if it is purely the franchisee\'s fault, will always cause damage to the image of the entire chain.</li>\r\n 	<li>In addition, the company has to build a detailed business model in which it relates, among other things, to the way in which royalties will be received from the franchisee, the cost of the franchise, the cost of renewing the franchise, division of profits, and so forth.</li>\r\n</ul>\r\nCompanies and individuals that are interested in expanding their business activities by selling franchises, while minimizing the risks involved, are invited to contact us to arrange a consultation, during which we will be happy to share our experience and guide them to success.', 'Opening a franchising company (chain)', '', 'inherit', 'closed', 'closed', '', '3302-revision-v1', '', '', '2020-12-03 11:56:00', '2020-12-03 08:56:00', '', 3302, 'https://www.porat.com/3302-revision-v1/', 0, 'revision', '', 0),
(3715, 6, '2020-12-03 12:24:56', '2020-12-03 09:24:56', 'Following the amendment to the Annual Vacation law – 1951, please note the following:\n<ol>\n 	<li>Article 3 of the Annual Vacation law, defines the amount of vacation days that each employee is entailed to. I.e. currently an employee who is working 5 days per week, (Sunday to Thursday, weekends are excluded), is entitled to 10 days of annual vacation after the amendment.</li>\n 	<li>However, within the framework of the amendment any employee who has been working for a certain employer for less than 4 years, shall be entitled to additional annual vacation days, as follows:\n<ul>\n 	<li>Starting from the 1<sup>st</sup> of July 2016 and until the 31<sup>st</sup> of December 2016 an employee who has been working for a certain employer for less than 4 year and for 5 days per week, shall be entitled to 11 days of vacation;</li>\n 	<li>As from the 1<sup>st</sup> of January 2017 an employee who has been working for a certain employer for less than 4 year and for 5 days per week, shall be entitled to 12 days of vacation.</li>\n</ul>\n</li>\n 	<li>Please note that the above-mentioned information shall not apply to employees who have been working for a certain employer for a duration of more than 4 years.</li>\n 	<li>Moreover please see the table below for more information.</li>\n</ol>\nFor more information regarding the Amendment to the Annual Vacation Law or any other issue regarding Labor Law, please feel free to <a href=\"https://www.porat.com/contact/\">contact us</a>.\n<table width=\"100%\">\n<tbody>\n<tr>\n<td><strong><em>Number of Years</em></strong></td>\n<td><strong>Until 30.6.2016</strong></td>\n<td><strong>1.7.2016-31.12.2016</strong></td>\n<td><strong>As from 1.1.2017</strong></td>\n</tr>\n<tr>\n<td><em>Years 1-4</em></td>\n<td>10 days</td>\n<td>11 days</td>\n<td>12 days</td>\n</tr>\n<tr>\n<td><em>Year 5</em></td>\n<td>12 days</td>\n<td>12 days</td>\n<td>12 days</td>\n</tr>\n<tr>\n<td><em>Year 6</em></td>\n<td>14 days</td>\n<td>14 days</td>\n<td>14 days</td>\n</tr>\n<tr>\n<td><em>Year 7</em></td>\n<td>15 days</td>\n<td>15 days</td>\n<td>15 days</td>\n</tr>\n<tr>\n<td><em>Year 8</em></td>\n<td>16 days</td>\n<td>16 days</td>\n<td>16 days</td>\n</tr>\n<tr>\n<td><em>Year 9</em></td>\n<td>17 days</td>\n<td>17 days</td>\n<td>17 days</td>\n</tr>\n<tr>\n<td><em>Year 10</em></td>\n<td>18 days</td>\n<td>18 days</td>\n<td>18 days</td>\n</tr>\n<tr>\n<td><em>Year 11</em></td>\n<td>19 days</td>\n<td>19 days</td>\n<td>19 days</td>\n</tr>\n<tr>\n<td><em>Year 12</em></td>\n<td>20 days</td>\n<td>20 days</td>\n<td>20 days</td>\n</tr>\n<tr>\n<td><em>Year 13+</em></td>\n<td>20 days</td>\n<td>20 days</td>\n<td>20 days</td>\n</tr>\n</tbody>\n</table>\n&nbsp;', 'How the Annual Vacation Law has been amended', '', 'inherit', 'closed', 'closed', '', '2633-autosave-v1', '', '', '2020-12-03 12:24:56', '2020-12-03 09:24:56', '', 2633, 'https://www.porat.com/2633-autosave-v1/', 0, 'revision', '', 0),
(3716, 6, '2020-12-03 12:25:04', '2020-12-03 09:25:04', 'Following the amendment to the Annual Vacation law – 1951, please note the following:\r\n<ol>\r\n 	<li>Article 3 of the Annual Vacation law, defines the amount of vacation days that each employee is entailed to. I.e. currently an employee who is working 5 days per week, (Sunday to Thursday, weekends are excluded), is entitled to 10 days of annual vacation after the amendment.</li>\r\n 	<li>However, within the framework of the amendment any employee who has been working for a certain employer for less than 4 years, shall be entitled to additional annual vacation days, as follows:\r\n<ul>\r\n 	<li>Starting from the 1<sup>st</sup> of July 2016 and until the 31<sup>st</sup> of December 2016 an employee who has been working for a certain employer for less than 4 year and for 5 days per week, shall be entitled to 11 days of vacation;</li>\r\n 	<li>As from the 1<sup>st</sup> of January 2017 an employee who has been working for a certain employer for less than 4 year and for 5 days per week, shall be entitled to 12 days of vacation.</li>\r\n</ul>\r\n</li>\r\n 	<li>Please note that the above-mentioned information shall not apply to employees who have been working for a certain employer for a duration of more than 4 years.</li>\r\n 	<li>Moreover please see the table below for more information.</li>\r\n</ol>\r\nFor more information regarding the Amendment to the Annual Vacation Law or any other issue regarding Labor Law, please feel free to <a href=\"https://www.porat.com/contact/\">contact us</a>.\r\n<table width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td><strong><em>Number of Years</em></strong></td>\r\n<td><strong>Until 30.6.2016</strong></td>\r\n<td><strong>1.7.2016-31.12.2016</strong></td>\r\n<td><strong>As from 1.1.2017</strong></td>\r\n</tr>\r\n<tr>\r\n<td><em>Years 1-4</em></td>\r\n<td>10 days</td>\r\n<td>11 days</td>\r\n<td>12 days</td>\r\n</tr>\r\n<tr>\r\n<td><em>Year 5</em></td>\r\n<td>12 days</td>\r\n<td>12 days</td>\r\n<td>12 days</td>\r\n</tr>\r\n<tr>\r\n<td><em>Year 6</em></td>\r\n<td>14 days</td>\r\n<td>14 days</td>\r\n<td>14 days</td>\r\n</tr>\r\n<tr>\r\n<td><em>Year 7</em></td>\r\n<td>15 days</td>\r\n<td>15 days</td>\r\n<td>15 days</td>\r\n</tr>\r\n<tr>\r\n<td><em>Year 8</em></td>\r\n<td>16 days</td>\r\n<td>16 days</td>\r\n<td>16 days</td>\r\n</tr>\r\n<tr>\r\n<td><em>Year 9</em></td>\r\n<td>17 days</td>\r\n<td>17 days</td>\r\n<td>17 days</td>\r\n</tr>\r\n<tr>\r\n<td><em>Year 10</em></td>\r\n<td>18 days</td>\r\n<td>18 days</td>\r\n<td>18 days</td>\r\n</tr>\r\n<tr>\r\n<td><em>Year 11</em></td>\r\n<td>19 days</td>\r\n<td>19 days</td>\r\n<td>19 days</td>\r\n</tr>\r\n<tr>\r\n<td><em>Year 12</em></td>\r\n<td>20 days</td>\r\n<td>20 days</td>\r\n<td>20 days</td>\r\n</tr>\r\n<tr>\r\n<td><em>Year 13+</em></td>\r\n<td>20 days</td>\r\n<td>20 days</td>\r\n<td>20 days</td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n&nbsp;', 'How the Annual Vacation Law has been amended', '', 'inherit', 'closed', 'closed', '', '2633-revision-v1', '', '', '2020-12-03 12:25:04', '2020-12-03 09:25:04', '', 2633, 'https://www.porat.com/2633-revision-v1/', 0, 'revision', '', 0),
(3717, 6, '2020-12-03 12:37:50', '2020-12-03 09:37:50', 'The crypto currency phenomena, and some initial initiatives as to regulating it, can be found also in offshore jurisdictions. Much alike major jurisdictions, there are various models or approaches.\n\nWhile some jurisdictions settled for the issuance of notices and circulars to their licensees and to the public, stating that bitcoin is not a currency while warning about the risks associated with crypto currency activities, the greatest concern being the anonymity of the parties behind the transactions and the volatility of trading crypto currencies, other jurisdictions have chosen to embrace the challenge of regulating crypto currencies activities, even if by applying light regulations.\n\n<u>Gibraltar</u> - the Gibraltar Financial Services Commission plans to introduce regulations to oversee blockchain businesses operating in Gibraltar, which will come into effect in January 2018. These regulations will cover subjects such as conduct of business, proper maintenance of clients\' funds, fair treatment of clients, financial resources, risk management and corporate governance.\n\n<u>Island of Jersey</u> - providers of crypto currency services are required to register with the Jersey Financial Services Commission (JFSC) if their annual turnover crosses the threshold of 150,000 pounds. Some reporting duties apply as well. Failing to register within three months of crossing the above mentioned threshold is punishable.\n\n<u>Belize</u> - the offering of crypto currencies is allowed under the Money Exchange Services license. Obtaining this license requires only 1 director, no local physical presence and a $75,000 USD paid up share capital requirement. A crypto currencies exchange named 247exchange.com already provides services under that very license.\n\nSome jurisdictions have taken a bolder approach, leading them to the adoption of innovative initiatives.\n\nSuch an example is <u>Mauritius</u>, where Consensys, a startup operating in the ethereum sphere, has reached out to local authorities seeking to establish a blockchain hub in Mauritius, where blockchain actors will benefit from the local lighter regulations. Consensys also intends to invest in the local work force by establishing a blockchain academy which will train local employees.\n\nThe regulatory landscape is constantly changing and we expect to see further developments and regulatory possibilities. We will certainly keep updating on the matter.\n\nPorat Group is one of the first law firms to offer legal services that enables crypto currency business owners to regulate their businesses and activities. Our lawyers are well equipped to handle regulation processes for the industry in various jurisdictions and make sure to be up to date with any news in the industry. To prove our commitment to the crypto currency eco system, we are one of very few law firms accepting payments in crypto currencies in return for the provision of our services.', 'Offshore regulation of Crypto currencies', '', 'inherit', 'closed', 'closed', '', '3329-autosave-v1', '', '', '2020-12-03 12:37:50', '2020-12-03 09:37:50', '', 3329, 'https://www.porat.com/3329-autosave-v1/', 0, 'revision', '', 0),
(3718, 6, '2020-12-03 12:38:12', '2020-12-03 09:38:12', 'The crypto currency phenomena, and some initial initiatives as to regulating it, can be found also in offshore jurisdictions. Much alike major jurisdictions, there are various models or approaches.\r\n\r\nWhile some jurisdictions settled for the issuance of notices and circulars to their licensees and to the public, stating that bitcoin is not a currency while warning about the risks associated with crypto currency activities, the greatest concern being the anonymity of the parties behind the transactions and the volatility of trading crypto currencies, other jurisdictions have chosen to embrace the challenge of regulating crypto currencies activities, even if by applying light regulations.\r\n\r\n<u>Gibraltar</u> - the Gibraltar Financial Services Commission plans to introduce regulations to oversee blockchain businesses operating in Gibraltar, which will come into effect in January 2018. These regulations will cover subjects such as conduct of business, proper maintenance of clients\' funds, fair treatment of clients, financial resources, risk management and corporate governance.\r\n\r\n<u>Island of Jersey</u> - providers of crypto currency services are required to register with the Jersey Financial Services Commission (JFSC) if their annual turnover crosses the threshold of 150,000 pounds. Some reporting duties apply as well. Failing to register within three months of crossing the above mentioned threshold is punishable.\r\n\r\n<u>Belize</u> - the offering of crypto currencies is allowed under the Money Exchange Services license. Obtaining this license requires only 1 director, no local physical presence and a $75,000 USD paid up share capital requirement. A crypto currencies exchange named 247exchange.com already provides services under that very license.\r\n\r\nSome jurisdictions have taken a bolder approach, leading them to the adoption of innovative initiatives.\r\n\r\nSuch an example is <u>Mauritius</u>, where Consensys, a startup operating in the ethereum sphere, has reached out to local authorities seeking to establish a blockchain hub in Mauritius, where blockchain actors will benefit from the local lighter regulations. Consensys also intends to invest in the local work force by establishing a blockchain academy which will train local employees.\r\n\r\nThe regulatory landscape is constantly changing and we expect to see further developments and regulatory possibilities. We will certainly keep updating on the matter.\r\n\r\nPorat Group is one of the first law firms to offer legal services that enables crypto currency business owners to regulate their businesses and activities. Our lawyers are well equipped to handle regulation processes for the industry in various jurisdictions and make sure to be up to date with any news in the industry. To prove our commitment to the crypto currency eco system, we are one of very few law firms accepting payments in crypto currencies in return for the provision of our services.', 'Offshore regulation of Crypto currencies', '', 'inherit', 'closed', 'closed', '', '3329-revision-v1', '', '', '2020-12-03 12:38:12', '2020-12-03 09:38:12', '', 3329, 'https://www.porat.com/3329-revision-v1/', 0, 'revision', '', 0),
(3720, 6, '2020-12-07 21:52:44', '2020-12-07 18:52:44', 'Until now, the European Union has not been regulating cryptocurrencies in any form, but CySEC, the Cyprus Securities and Exchange Commission, has recently issued its first cryptocurrency regulations. This is obviously of interest for those following the developments within the European Union, since Cyprus is a EU member.\r\n<h2>About the new regulations</h2>\r\nThe CySEC regulations can be found in Circular C417, with the subject : Prudential treatment of crypto assets and enhancement of risk management procedures associated with crypto assets.\r\n\r\nCircular C417 regulates the treatment of crypto assets and provides CIFs (or Cyprus Investment Firms) a compliance environment for investing in cryptocurrency. These regulations enable CIFs to calculate their own funds and capital ratios for their crypto investments.\r\n\r\nIt is important to note, however, that CIFs must first obtain authorization (from CySEC) for trading cryptocurrencies. Furthermore, the regulation specifies how risk assessment must be conducted so that risk and capital are in balance.\r\n\r\nIn addition cybersecurity measures as well as operational and reputational risks must be considered, as are further anti-money laundering regulations and control.\r\n<h2>How can Porat Group help if you are interested in cryptocurrency regulation in Cyprus?</h2>\r\nA regulated environment is best approached by professional law firms. Porat Group has the necessary knowledge and representation in Cyprus to be your guide towards a successful, regulated cryptocurrency business in the country, as well as your hands on partner in the process itself.\r\n\r\n<a href=\"/?page_id=520\">Contact us</a> if you have questions related to these new regulations and/or the other services we offer for companies based in, aspiring to break into, or interested in the Cypriot market.', 'First cryptocurrency regulations issued by CySEC', '', 'publish', 'open', 'open', '', 'first-cryptocurrency-regulations-issued-by-cysec', '', '', '2020-12-07 21:54:20', '2020-12-07 18:54:20', '', 0, 'https://www.porat.com/?p=3720', 0, 'post', '', 0),
(3721, 6, '2020-12-07 21:52:44', '2020-12-07 18:52:44', 'Until now, the European Union has not been regulating cryptocurrencies in any form, but CySEC, the Cyprus Securities and Exchange Commission, has recently issued its first cryptocurrency regulations. This is obviously of interest for those following the developments within the European Union, since Cyprus is a EU member.\r\n<h2>About the new regulations</h2>\r\nThe CySEC regulations can be found in Circular C417, with the subject : Prudential treatment of crypto assets and enhancement of risk management procedures associated with crypto assets.\r\nCircular C417 regulates the treatment of crypto assets and provides CIFs (or Cyprus Investment Firms) a compliance environment for investing in cryptocurrency. These regulations enable CIFs to calculate their own funds and capital ratios for their crypto investments.\r\nIt is important to note, however, that CIFs must first obtain authorization (from CySEC) for trading cryptocurrencies. Furthermore, the regulation specifies how risk assessment must be conducted so that risk and capital are in balance.\r\nIn addition cybersecurity measures as well as operational and reputational risks must be considered, as are further anti-money laundering regulations and control.\r\n<h2>How can Porat Group help if you are interested in cryptocurrency regulation in Cyprus?</h2>\r\nA regulated environment is best approached by professional law firms. Porat Group has the necessary knowledge and representation in Cyprus to be your guide towards a successful, regulated cryptocurrency business in the country, as well as your hands on partner in the process itself.\r\n\r\nContact us if you have questions related to these new regulations and/or the other services we offer for companies based in, aspiring to break into, or interested in the Cypriot market.', 'First cryptocurrency regulations issued by CySEC', '', 'inherit', 'closed', 'closed', '', '3720-revision-v1', '', '', '2020-12-07 21:52:44', '2020-12-07 18:52:44', '', 3720, 'https://www.porat.com/3720-revision-v1/', 0, 'revision', '', 0);
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(3722, 6, '2020-12-07 21:54:20', '2020-12-07 18:54:20', 'Until now, the European Union has not been regulating cryptocurrencies in any form, but CySEC, the Cyprus Securities and Exchange Commission, has recently issued its first cryptocurrency regulations. This is obviously of interest for those following the developments within the European Union, since Cyprus is a EU member.\r\n<h2>About the new regulations</h2>\r\nThe CySEC regulations can be found in Circular C417, with the subject : Prudential treatment of crypto assets and enhancement of risk management procedures associated with crypto assets.\r\n\r\nCircular C417 regulates the treatment of crypto assets and provides CIFs (or Cyprus Investment Firms) a compliance environment for investing in cryptocurrency. These regulations enable CIFs to calculate their own funds and capital ratios for their crypto investments.\r\n\r\nIt is important to note, however, that CIFs must first obtain authorization (from CySEC) for trading cryptocurrencies. Furthermore, the regulation specifies how risk assessment must be conducted so that risk and capital are in balance.\r\n\r\nIn addition cybersecurity measures as well as operational and reputational risks must be considered, as are further anti-money laundering regulations and control.\r\n<h2>How can Porat Group help if you are interested in cryptocurrency regulation in Cyprus?</h2>\r\nA regulated environment is best approached by professional law firms. Porat Group has the necessary knowledge and representation in Cyprus to be your guide towards a successful, regulated cryptocurrency business in the country, as well as your hands on partner in the process itself.\r\n\r\n<a href=\"https://www.porat.com/contact/\">Contact us</a> if you have questions related to these new regulations and/or the other services we offer for companies based in, aspiring to break into, or interested in the Cypriot market.', 'First cryptocurrency regulations issued by CySEC', '', 'inherit', 'closed', 'closed', '', '3720-revision-v1', '', '', '2020-12-07 21:54:20', '2020-12-07 18:54:20', '', 3720, 'https://www.porat.com/3720-revision-v1/', 0, 'revision', '', 0),
(3724, 6, '2020-12-16 11:48:14', '2020-12-16 08:48:14', 'Meidan specializes in Labor Law and Litigation and has 15 years of experience as legal counsel to leading companies in the Israeli market. as well as with managing complex claims (including high-profile cases) in all courts.\r\n\r\nAdditionally, Meidan is known for providing a professional, quality, creative, strategic and vigorous legal service and as part of his activities he has accomplished many achievements in a large number of cases, some of which were published and some remained anonymous, in order to maintain the clients\' privacy.\r\n\r\nMeidan works extensively for the community, and among other things, serves as a mentor to young entrepreneurs within the framework of \"Keren Shemesh\", and volunteered as the legal advisor of the Citizens\' Counseling Service (SHIL).', 'Meidan Grisaro', '', 'publish', 'closed', 'closed', '', 'meidan-grisaro', '', '', '2020-12-17 20:55:39', '2020-12-17 17:55:39', '', 0, 'https://www.porat.com/?post_type=member&#038;p=3724', 0, 'member', '', 0),
(3725, 6, '2020-12-16 11:43:42', '2020-12-16 08:43:42', '', 'IMG_19562-מידן גרסינו-שקיפות', '', 'inherit', 'open', 'closed', '', 'img_19562-%d7%9e%d7%99%d7%93%d7%9f-%d7%92%d7%a8%d7%a1%d7%99%d7%a0%d7%95-%d7%a9%d7%a7%d7%99%d7%a4%d7%95%d7%aa', '', '', '2020-12-16 11:43:42', '2020-12-16 08:43:42', '', 3724, 'https://www.porat.com/wp-content/uploads/2020/12/IMG_19562-מידן-גרסינו-שקיפות.png', 0, 'attachment', 'image/png', 0),
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(3738, 6, '2020-12-17 10:43:47', '2020-12-17 07:43:47', '', 'Meidan_Grisaro_Head_of_Labor_Law_Porat_Group', '', 'inherit', 'open', 'closed', '', 'meidan_grisaro_head_of_labor_law_porat_group-2', '', '', '2020-12-17 10:44:08', '2020-12-17 07:44:08', '', 0, 'https://www.porat.com/wp-content/uploads/2020/12/Meidan_Grisaro_Head_of_Labor_Law_Porat_Group.png', 0, 'attachment', 'image/png', 0),
(3739, 6, '2020-12-17 13:14:22', '2020-12-17 10:14:22', 'Adv. Oded Harari is experienced in labor law and litigation, having 10 years of experience as legal counsel to employers in the Israeli market and managing complex claims (some of them high-profile cases) in all courts. Oded also has experience representing employees in various and complex cases.\r\n\r\nOded has multiple impressive accomplishments, in a large number of cases, under his belt and is known for always making an effort to provide professional, high quality, creative and strategic legal service to all his clients.', 'Oded Harari', '', 'publish', 'closed', 'closed', '', 'oded-harari', '', '', '2020-12-17 13:14:22', '2020-12-17 10:14:22', '', 0, 'https://www.porat.com/?post_type=member&#038;p=3739', 0, 'member', '', 0),
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(3744, 6, '2020-12-17 21:04:32', '2020-12-17 18:04:32', 'Porat Group is proud to announce the merger of another respected law firm in its field - <a href=\"http://www.grisarolaw.co.il/\">Grisaro Law Firm</a> - into our business and legal consulting group.\r\nGrisaro Law Firm specializes in litigation and <a href=\"/?p=424\">labor law</a>, thus strengthening these departments at Porat Group.\r\nThe experienced legal professionals working at Grisaro Law Firm have already joined us at our Tel Aviv offices.\r\n\r\nRead more about Adv. Meidan Grisaro, founder of Grisaro Law Firm, who will be joining us as a partner and Head of Labor Law department <a href=\"/?p=3724\">here</a>, and Adv Oded Harari, an experienced lawyer who also joined to strengthen the Labor Law department <a href=\"/?p=3739\">here</a>.\r\n\r\nWe look forward to the upcoming expansion and wish both Meidan and Oded the best of luck here at Porat Group!', 'Grisaro Law Firm merges into Porat Group', '', 'publish', 'open', 'open', '', 'grisaro-law-firm-merges-into-porat-group', '', '', '2020-12-17 21:04:32', '2020-12-17 18:04:32', '', 0, 'https://www.porat.com/?p=3744', 0, 'post', '', 0),
(3745, 6, '2020-12-17 21:03:39', '2020-12-17 18:03:39', '', 'Porat Group merging with Grisaro Law', '', 'inherit', 'open', 'closed', '', 'merging', '', '', '2020-12-17 21:04:19', '2020-12-17 18:04:19', '', 3744, 'https://www.porat.com/wp-content/uploads/2020/12/Merging.png', 0, 'attachment', 'image/png', 0),
(3746, 6, '2020-12-17 21:03:39', '2020-12-17 18:03:39', '', 'Merging', '', 'inherit', 'open', 'closed', '', 'merging-2', '', '', '2020-12-17 21:04:19', '2020-12-17 18:04:19', '', 0, 'https://www.porat.com/wp-content/uploads/2020/12/Merging.png', 0, 'attachment', 'image/png', 0),
(3747, 6, '2020-12-17 21:04:32', '2020-12-17 18:04:32', 'Porat Group is proud to announce the merger of another respected law firm in its field - <a href=\"http://www.grisarolaw.co.il/\">Grisaro Law Firm</a> - into our business and legal consulting group.\r\nGrisaro Law Firm specializes in litigation and <a href=\"https://www.porat.com/legal/labor-law/\">labor law</a>, thus strengthening these departments at Porat Group.\r\nThe experienced legal professionals working at Grisaro Law Firm have already joined us at our Tel Aviv offices.\r\n\r\nRead more about Adv. Meidan Grisaro, founder of Grisaro Law Firm, who will be joining us as a partner and Head of Labor Law department <a href=\"https://www.porat.com/member/meidan-grisaro/\">here</a>, and Adv Oded Harari, an experienced lawyer who also joined to strengthen the Labor Law department <a href=\"https://www.porat.com/member/oded-harari/\">here</a>.\r\n\r\nWe look forward to the upcoming expansion and wish both Meidan and Oded the best of luck here at Porat Group!', 'Grisaro Law Firm merges into Porat Group', '', 'inherit', 'closed', 'closed', '', '3744-revision-v1', '', '', '2020-12-17 21:04:32', '2020-12-17 18:04:32', '', 3744, 'https://www.porat.com/3744-revision-v1/', 0, 'revision', '', 0),
(3748, 6, '2020-12-17 21:30:59', '2020-12-17 18:30:59', 'Roie specializes in Commercial, Residential and Industrial Real Estate, and leading the Business and Legal aspects of high-volume Real Estate transactions for his clients. Roie has vast experience in development, sale &amp; purchase land, and assets transactions. Roie specializes in Real Estate taxation and commercial transactions that combine complex corporate elements, financing, and Proprietary issues.\r\n\r\nRoie has over 12 years of experience in overly complex Real Estate transactions and represented Israel\'s largest and most dynamic Real Estate groups, engaged in land development, construction, trade, and hotels.\r\n\r\nRoie has extensive and diverse experience in representing major clients, in negotiating structure and infrastructure agreements with municipal authorities, and negotiating with the Israeli Land and Tax Authorities.\r\n\r\nRoie holds deep understanding on corporate governance and corporate law, taxes, company formation and advices and represents his clients in international investments.', 'Roie Tsarfati', '', 'publish', 'closed', 'closed', '', 'roie-tsarfati', '', '', '2021-04-07 10:26:54', '2021-04-07 07:26:54', '', 0, 'https://www.porat.com/?post_type=member&#038;p=3748', 0, 'member', '', 0),
(3749, 6, '2020-12-17 21:20:16', '2020-12-17 18:20:16', '', 'roie-tsarfati-head-of-real-estate', '', 'inherit', 'open', 'closed', '', 'roie-tsarfati', '', '', '2020-12-17 21:20:59', '2020-12-17 18:20:59', '', 3748, 'https://www.porat.com/wp-content/uploads/2020/12/Roie-Tsarfati.png', 0, 'attachment', 'image/png', 0),
(3750, 6, '2020-12-17 21:20:16', '2020-12-17 18:20:16', '', 'Roie Tsarfati', '', 'inherit', 'open', 'closed', '', 'roie-tsarfati-2', '', '', '2020-12-17 21:20:59', '2020-12-17 18:20:59', '', 0, 'https://www.porat.com/wp-content/uploads/2020/12/Roie-Tsarfati.png', 0, 'attachment', 'image/png', 0),
(3751, 6, '2020-12-17 21:36:45', '2020-12-17 18:36:45', '', 'PORAT LAW TEAM', '', 'inherit', 'closed', 'closed', '', '688-revision-v1', '', '', '2020-12-17 21:36:45', '2020-12-17 18:36:45', '', 688, 'https://www.porat.com/688-revision-v1/', 0, 'revision', '', 0),
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(3753, 6, '2020-12-21 22:06:37', '2020-12-21 19:06:37', 'Porat Group’s Real Estate Department was established to provide legal and business services in the field of real estate domestically and globally.\r\n\r\nOur real estate lawyers assist our firm\'s clients with satisfying their business\' real estate needs and expectations by providing them a blue ribbon service which includes personal attention, high responsiveness and professionalism business and legal wise.\r\n\r\nFluent in multiple languages, our real estate team is capable of providing services in multiple fields of real estate, and mainly in the fields of Residential, Commercial and Industrial Real Estate development, construction and marketing, both in Israel and oversees.\r\n\r\nThis wide array of specializations enables our real estate lawyers to offer a holistic and efficient service, without comprising their unique personal touch.\r\n\r\nOur real estate legal team represents Israeli and International private and corporate businesses, in a variety of sectors, such as:\r\n<ul>\r\n 	<li>Residential Housing</li>\r\n 	<li>Commercial and Industrial Real Estate Development</li>\r\n 	<li>Planning and Zoning</li>\r\n 	<li>Urban Renewal</li>\r\n 	<li>Project Financing</li>\r\n 	<li>Banking</li>\r\n 	<li>Real Estate Fund</li>\r\n 	<li>Mezzanine Funds</li>\r\n 	<li>Decentralized Financing and Crypto</li>\r\n 	<li>Infrastructures</li>\r\n 	<li>Hi-End residential projects</li>\r\n 	<li>Taxes - International taxation and real estate taxation\r\nmunicipal law and taxation</li>\r\n 	<li>Tenders</li>\r\n</ul>\r\nOur real estate lawyers provide, among others, the following legal services:\r\n<ul>\r\n 	<li>International and domestic structuring and incorporation of Real Estate Ventures;</li>\r\n 	<li>Consultations and hands-on assistance with commercial and legal negotiations;</li>\r\n 	<li>Representation in Investments, and complex cross-border multinational <a href=\"/?p=3453\">transactions</a>;</li>\r\n 	<li>Drafting, advising and negotiating a variety of contracts and agreements required for the operations of our clients’ real estate businesses, including but not limited to land and plot sell and purchase agreements, joint venture and partnering agreements, marketing agreements, General Contractor and sub-contractor agreements etc.</li>\r\n 	<li>Consultation and practical assistance with the Land Registry and Settlement of Rights Authority, Israel Land Administration, regional and central real estate Tax Authorities, and municipal authorities.</li>\r\n 	<li>Construction Agreements and Construction Financing Agreements</li>\r\n 	<li>Residential Real Estate Projects from A to Z</li>\r\n 	<li>Industrial Real Estate Development</li>\r\n 	<li>Construction Projects and Infrastructures</li>\r\n 	<li>Forming Purchase groups for real estate projects</li>\r\n</ul>\r\nFor information about any of the above legal services, <a href=\"/?page_id=520\">contact us</a> for a free consultation.', 'Real Estate', '', 'publish', 'closed', 'closed', '', 'real-estate', '', '', '2020-12-21 22:06:38', '2020-12-21 19:06:38', '', 0, 'https://www.porat.com/?post_type=legal&#038;p=3753', 0, 'legal', '', 0),
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(3757, 6, '2020-12-21 22:13:53', '2020-12-21 19:13:53', '', 'Real Estate', '', 'publish', 'closed', 'closed', '', 'real-estate-2', '', '', '2020-12-21 22:13:53', '2020-12-21 19:13:53', '', 0, 'https://www.porat.com/?p=3757', 14, 'nav_menu_item', '', 0),
(3758, 6, '2020-12-21 22:13:53', '2020-12-21 19:13:53', '', 'Fintech', '', 'publish', 'closed', 'closed', '', 'fintech-3', '', '', '2020-12-21 22:13:53', '2020-12-21 19:13:53', '', 0, 'https://www.porat.com/?p=3758', 18, 'nav_menu_item', '', 0),
(3761, 6, '2020-12-23 15:00:04', '2020-12-23 12:00:04', 'We are excited to announce that Porat Group’s real estate department is expanding. Porat Group offers a full range of legal and business consulting services for anyone dealing with real estate in any form, whether buying, selling, investing, planning, transactions and so on, both in Israel and worldwide.\r\n\r\nAs a part of the department’s expansion, we have merged Tsarfati Law Firm (RTS Law) into our group, and appointed Adv. Roie Tsarfati (full profile <a href=\"/?p=3748\">here</a>) as the new Head of the Real Estate department. Adv. Roie Tsarfati has extensive experience in legal issues related to both commercial, residential and industrial real estate, as well with complex transactions related to various real estate deals, among other issues related to the field.\r\n\r\nIn the near future, Porat Group plans to expand the department further, by having more lawyers specialized in real estate join us. Therefore, we will be posting job openings for real estate lawyers in the weeks to come.\r\n\r\nFor more information about all the services related to real estate that we provide, please see <a href=\"/?p=3753\">our Real Estate page</a>.', 'Expansion of the Real Estate department', '', 'publish', 'open', 'open', '', 'expansion-of-the-real-estate-department', '', '', '2020-12-23 15:00:04', '2020-12-23 12:00:04', '', 0, 'https://www.porat.com/?p=3761', 0, 'post', '', 0),
(3762, 6, '2020-12-23 14:59:22', '2020-12-23 11:59:22', '', 'RealEstate_inclLogo', '', 'inherit', 'open', 'closed', '', 'realestate_incllogo', '', '', '2020-12-23 14:59:22', '2020-12-23 11:59:22', '', 3761, 'https://www.porat.com/wp-content/uploads/2020/12/RealEstate_inclLogo.png', 0, 'attachment', 'image/png', 0),
(3763, 6, '2020-12-23 14:59:22', '2020-12-23 11:59:22', '', 'RealEstate_inclLogo', '', 'inherit', 'open', 'closed', '', 'realestate_incllogo-2', '', '', '2020-12-23 14:59:22', '2020-12-23 11:59:22', '', 0, 'https://www.porat.com/wp-content/uploads/2020/12/RealEstate_inclLogo.png', 0, 'attachment', 'image/png', 0),
(3764, 6, '2020-12-23 15:00:04', '2020-12-23 12:00:04', 'We are excited to announce that Porat Group’s real estate department is expanding. Porat Group offers a full range of legal and business consulting services for anyone dealing with real estate in any form, whether buying, selling, investing, planning, transactions and so on, both in Israel and worldwide.\r\n\r\nAs a part of the department’s expansion, we have merged Tsarfati Law Firm (RTS Law) into our group, and appointed Adv. Roie Tsarfati (full profile <a href=\"https://www.porat.com/member/roie-tsarfati/\">here</a>) as the new Head of the Real Estate department. Adv. Roie Tsarfati has extensive experience in legal issues related to both commercial, residential and industrial real estate, as well with complex transactions related to various real estate deals, among other issues related to the field.\r\n\r\nIn the near future, Porat Group plans to expand the department further, by having more lawyers specialized in real estate join us. Therefore, we will be posting job openings for real estate lawyers in the weeks to come.\r\n\r\nFor more information about all the services related to real estate that we provide, please see <a href=\"https://www.porat.com/legal/real-estate/\">our Real Estate page</a>.', 'Expansion of the Real Estate department', '', 'inherit', 'closed', 'closed', '', '3761-revision-v1', '', '', '2020-12-23 15:00:04', '2020-12-23 12:00:04', '', 3761, 'https://www.porat.com/3761-revision-v1/', 0, 'revision', '', 0),
(3765, 6, '2020-12-28 21:51:46', '2020-12-28 18:51:46', 'We are excited to announce that our very own <a href=\"/?p=1200\">Adv. Itay Korach</a> has been promoted and appointed partner, as well as Head of Corporate Services, in Porat Group, joining 5 previous partners <a href=\"/?p=292\">Nir Porat</a>, <a href=\"/?p=349\">Ohad Tzori</a>, <a href=\"/?p=3572\">Ronen Wiseman</a>, <a href=\"/?p=3724\">Meidan Grisaro</a> and <a href=\"/?p=3748\">Roie Tsarfati</a>.\r\n\r\nItay has achieved his new position thanks to his ability to build outstanding client relationships, as well as his persistent and professional work over the years, having been a part of the firm since 2014.\r\n\r\nWe wish Itay much success in his new role and would also like to take the opportunity to thank him for his hard work and dedication up until now. We are delighted to have him with us for the years to come.', 'Porat Group is pleased to announce the appointment of a new partner', '', 'publish', 'open', 'open', '', 'porat-group-is-pleased-to-announce-the-appointment-of-a-new-partner', '', '', '2020-12-28 21:51:46', '2020-12-28 18:51:46', '', 0, 'https://www.porat.com/?p=3765', 0, 'post', '', 0),
(3766, 6, '2020-12-28 21:51:46', '2020-12-28 18:51:46', 'We are excited to announce that our very own <a href=\"https://www.porat.com/member/itay-korach/\">Adv. Itay Korach</a> has been promoted and appointed partner, as well as Head of Corporate Services, in Porat Group, joining 5 previous partners <a href=\"https://www.porat.com/member/nir-porat/\">Nir Porat</a>, <a href=\"https://www.porat.com/member/ohad-tzori/\">Ohad Tzori</a>, <a href=\"https://www.porat.com/member/ronen-wiseman/\">Ronen Wiseman</a>, <a href=\"https://www.porat.com/member/meidan-grisaro/\">Meidan Grisaro</a> and <a href=\"https://www.porat.com/member/roie-tsarfati/\">Roie Tsarfati</a>.\r\n\r\nItay has achieved his new position thanks to his ability to build outstanding client relationships, as well as his persistent and professional work over the years, having been a part of the firm since 2014.\r\n\r\nWe wish Itay much success in his new role and would also like to take the opportunity to thank him for his hard work and dedication up until now. We are delighted to have him with us for the years to come.', 'Porat Group is pleased to announce the appointment of a new partner', '', 'inherit', 'closed', 'closed', '', '3765-revision-v1', '', '', '2020-12-28 21:51:46', '2020-12-28 18:51:46', '', 3765, 'https://www.porat.com/3765-revision-v1/', 0, 'revision', '', 0),
(3767, 6, '2020-12-28 21:51:56', '2020-12-28 18:51:56', 'We are excited to announce that our very own <a href=\"/?p=1200\">Adv. Itay Korach</a> has been promoted and appointed partner, as well as Head of Corporate Services, in Porat Group, joining 5 previous partners <a href=\"/?p=292\">Nir Porat</a>, <a href=\"/?p=349\">Ohad Tzori</a>, <a href=\"/?p=3572\">Ronen Wiseman</a>, <a href=\"/?p=3724\">Meidan Grisaro</a> and <a href=\"/?p=3748\">Roie Tsarfati</a>.\n\nItay has achieved his new position thanks to his ability to build outstanding client relationships, as well as his persistent and professional work over the years, having been a part of the firm since 2014.\n\nWe wish Itay much success in his new role and would also like to take the opportunity to thank him for his hard work and dedication up until now. We are delighted to have him with us for the years to come.', 'Porat Group is pleased to announce the appointment of a new partner', '', 'inherit', 'closed', 'closed', '', '3765-autosave-v1', '', '', '2020-12-28 21:51:56', '2020-12-28 18:51:56', '', 3765, 'https://www.porat.com/3765-autosave-v1/', 0, 'revision', '', 0),
(3768, 6, '2020-12-28 21:53:41', '2020-12-28 18:53:41', 'Itay’s specialties lie within the international commercial department where his main activities involve providing ongoing legal services to commercial companies, including drafting a variety of agreements – service agreements, license agreements, share purchase agreements, non-disclosure agreements etc. In addition, Itay specializes in the legal and business aspects that relate to banking and online payments on a multinational level.\n\n&nbsp;\n\n&nbsp;', 'Itay Korach', '', 'inherit', 'closed', 'closed', '', '1200-autosave-v1', '', '', '2020-12-28 21:53:41', '2020-12-28 18:53:41', '', 1200, 'https://www.porat.com/1200-autosave-v1/', 0, 'revision', '', 0),
(3769, 6, '2020-12-28 21:55:11', '2020-12-28 18:55:11', '', 'PORAT LAW TEAM', '', 'inherit', 'closed', 'closed', '', '688-revision-v1', '', '', '2020-12-28 21:55:11', '2020-12-28 18:55:11', '', 688, 'https://www.porat.com/688-revision-v1/', 0, 'revision', '', 0),
(3770, 6, '2020-12-28 21:55:51', '2020-12-28 18:55:51', '', 'TEAM', '', 'inherit', 'closed', 'closed', '', '258-revision-v1', '', '', '2020-12-28 21:55:51', '2020-12-28 18:55:51', '', 258, 'https://www.porat.com/258-revision-v1/', 0, 'revision', '', 0),
(3771, 6, '2020-12-30 10:36:49', '2020-12-30 07:36:49', '2020 has been challenging in many aspects, but hard work and perseverance eventually bring results even in challenging times. That is why we are proud to announce that we have assisted with obtaining not one but two licenses in Mauritius for our clients. The licenses, granted by the Mauritius Financial Services Commission, are entitled \"Investment Dealer (Full Service Dealer, excluding Underwriting) and they allow the holder to act as a broker and a market maker.\r\n\r\nWe thank our clients for trusting us to lead them to this successful outcome and look forward to assist them and others in setting up and licensing their businesses in whatever jurisdiction suits them best. Following the receipt of the licenses, we will continue to support our licensed companies regarding all their legal, regulatory, payments, and various business related needs.\r\n\r\nIf you are interested in hearing more about the Mauritius Investment Dealer licenses, or would like assistance applying for one of these licenses for your company, <a href=\"/?page_id=520\">contact us</a> for a consultation on how to best proceed.', 'Investment Dealer licenses issued in Mauritius', '', 'publish', 'open', 'open', '', 'investment-dealer-licenses-issued-in-mauritius', '', '', '2021-01-14 10:11:18', '2021-01-14 07:11:18', '', 0, 'https://www.porat.com/?p=3771', 0, 'post', '', 0),
(3772, 6, '2020-12-30 10:35:07', '2020-12-30 07:35:07', '', 'Mauritius investment dealer license Porat Group', '', 'inherit', 'open', 'closed', '', 'mauritius-investment-dealer-license-porat-group', '', '', '2020-12-30 10:35:27', '2020-12-30 07:35:27', '', 3771, 'https://www.porat.com/wp-content/uploads/2020/12/Mauritius-investment-dealer-license-Porat-Group.png', 0, 'attachment', 'image/png', 0),
(3773, 6, '2020-12-30 10:35:07', '2020-12-30 07:35:07', '', 'Mauritius investment dealer license Porat Group', '', 'inherit', 'open', 'closed', '', 'mauritius-investment-dealer-license-porat-group-2', '', '', '2020-12-30 10:35:27', '2020-12-30 07:35:27', '', 0, 'https://www.porat.com/wp-content/uploads/2020/12/Mauritius-investment-dealer-license-Porat-Group.png', 0, 'attachment', 'image/png', 0),
(3774, 6, '2020-12-30 10:36:49', '2020-12-30 07:36:49', '2020 has been challenging in many aspects, but hard work and perseverance eventually bring results even in challenging times. That is why we are proud to announce that we have assisted with obtaining not one but two licenses in Mauritius for our clients.\r\n\r\nThe licenses, granted by the Mauritius Financial Services Commission, are entitled \"Investment Dealer (Full Service Dealer, excluding Underwriting) and they allow the holder to act as a broker and a market maker.\r\n\r\nWe thank our clients for trusting us to lead them to this successful outcome and look forward to assist them and others in setting up and licensing their businesses in whatever jurisdiction suits them best.\r\n\r\nFollowing the receipt of the licenses, we will continue to support our licensed companies regarding all their legal, regulatory, payments, and various business related needs.\r\n\r\nIf you are interested in hearing more about the Mauritius Investment Dealer licenses, or would like assistance applying for one of these licenses for your company, <a href=\"https://www.porat.com/contact/\">contact us</a> for a consultation on how to best proceed.', 'Investment Dealer licenses issued in Mauritius', '', 'inherit', 'closed', 'closed', '', '3771-revision-v1', '', '', '2020-12-30 10:36:49', '2020-12-30 07:36:49', '', 3771, 'https://www.porat.com/3771-revision-v1/', 0, 'revision', '', 0),
(3775, 6, '2020-12-30 10:37:25', '2020-12-30 07:37:25', '2020 has been challenging in many aspects, but hard work and perseverance eventually bring results even in challenging times. That is why we are proud to announce that we have assisted with obtaining not one but two licenses in Mauritius for our clients. The licenses, granted by the Mauritius Financial Services Commission, are entitled \"Investment Dealer (Full Service Dealer, excluding Underwriting) and they allow the holder to act as a broker and a market maker.\r\n\r\nWe thank our clients for trusting us to lead them to this successful outcome and look forward to assist them and others in setting up and licensing their businesses in whatever jurisdiction suits them best. Following the receipt of the licenses, we will continue to support our licensed companies regarding all their legal, regulatory, payments, and various business related needs.\r\n\r\nIf you are interested in hearing more about the Mauritius Investment Dealer licenses, or would like assistance applying for one of these licenses for your company, <a href=\"/?page_id=520\">contact us</a> for a consultation on how to best proceed.', 'Investment Dealer licenses issued in Mauritius', '', 'inherit', 'closed', 'closed', '', '3771-revision-v1', '', '', '2020-12-30 10:37:25', '2020-12-30 07:37:25', '', 3771, 'https://www.porat.com/3771-revision-v1/', 0, 'revision', '', 0),
(3777, 1, '2021-01-03 22:53:33', '2021-01-03 19:53:33', '', 'Roie-Tsarfati-Partner-and-Head-of-Real-Estate', '', 'inherit', 'open', 'closed', '', 'roie-tsarfati-partner-and-head-of-real-estate', '', '', '2021-01-03 22:53:38', '2021-01-03 19:53:38', '', 3748, 'https://www.porat.com/wp-content/uploads/2020/12/Roie-Tsarfati-Partner-and-Head-of-Real-Estate.png', 0, 'attachment', 'image/png', 0),
(3778, 1, '2021-01-03 22:53:33', '2021-01-03 19:53:33', '', 'Roie-Tsarfati-Partner-and-Head-of-Real-Estate', '', 'inherit', 'open', 'closed', '', 'roie-tsarfati-partner-and-head-of-real-estate-2', '', '', '2021-01-03 22:53:38', '2021-01-03 19:53:38', '', 0, 'https://www.porat.com/wp-content/uploads/2020/12/Roie-Tsarfati-Partner-and-Head-of-Real-Estate.png', 0, 'attachment', 'image/png', 0),
(3780, 6, '2021-01-05 15:19:48', '2021-01-05 12:19:48', 'Israel, where Porat Group is based, is known as “the start-up nation” thanks to its’ abundance of hi-tech companies and startups. All major law firms in Israel therefore come in contact with hi-tech in some form, and Porat Group is no exception.\nWe would even say that our understanding of the Israeli hi-tech industry is better than most other law firms’, since we have advised a wide range of clients in the industry, from investors (Israeli and foreign alike), entrepreneurs, early stage startups and large corporations and global tech companies already active and thriving in the hi-tech industry over the years.\n\nThe industry continues to be at the core of our business and therefore we make it a priority to not keep abreast of developments in the industry and the various challenges, major players and trends within it, but to also have the same entrepreneurial and creative mindset as our clients. Our client base includes clients providing products or services related to software, hardware, fintech solutions, communications, mobile, Internet, cyber, AI, Big Data, information technology and others.\n\nOur corporate lawyers specializing in the hi-tech industry fully understand the special needs our clients within the industry have and therefore make sure to provide not only professional, high quality and cost efficient legal services, but responsive and fast communication as well, knowing that this is an industry where circumstances change and are altered fast.\n\nOur expertise relevant to the hi-tech industry includes:\n<ul>\n 	<li>IP rights.</li>\n 	<li>IP protection.</li>\n 	<li>IP lawsuits.</li>\n 	<li>IP related transactions.</li>\n 	<li>Structuring, drafting and negotiating various agreements, such as investment agreements, licensing agreements, shareholders agreements, partnering agreements, non-disclosure agreements and others.</li>\n 	<li>Advising on strategic alliances, joint ventures, corporate partnering, M&amp;As and “exits”.</li>\n 	<li>Assistance with due diligence for investors, potential partners and other parties.</li>\n 	<li>Advice to both investors and entrepreneurs at all stages of the start up cycle.</li>\n 	<li>Legal advice and assistance with dealing with various public authorities and regulators, in Israel and abroad.</li>\n 	<li>Advice and assistance related to government incentive programs (for example the Israeli Innovation Authority grants).</li>\n 	<li>Introductory services to payments providers and other vendors and services providers.</li>\n 	<li>Advice and practical assistance related to expanding to new, additional markets.</li>\n 	<li><a href=\"https://www.porat.com/legal/labor-law/\">Labor law related legal services</a>, employment agreements and related matters.</li>\n 	<li>Tax advice.</li>\n 	<li>Corporate structuring.</li>\n 	<li>Litigation, <a href=\"https://www.porat.com/legal/dispute-resolution/\">dispute resolution</a> and arbitration.</li>\n</ul>\nIf you are active in the hi-tech industry in Israel or abroad and need corporate legal services, <a href=\"https://www.porat.com/contact/\">contact us</a> for a consultation regarding your specific needs and how Porat Group can be of assistance.', 'Hi-Tech', 'For all those already in, or looking to get involved into the fast evolving cryptocurrency market, Nir Porat & Co., Law Firm are experienced in assisting with, as well as advise on, all legal and commercial matters related to this exiting and growing market. The crypto currencies’ eco system is constantly expanding, and includes many players these days. The crypto currencies system can be categorized under 4 core sectors, each bearing its own characteristics and function within the cryptocurrency world.', 'inherit', 'closed', 'closed', '', '430-autosave-v1', '', '', '2021-01-05 15:19:48', '2021-01-05 12:19:48', '', 430, 'https://www.porat.com/430-autosave-v1/', 0, 'revision', '', 0),
(3782, 6, '2021-01-09 20:29:55', '2021-01-09 17:29:55', 'E-commerce has been one of the fastest growing industries in Western countries in the last years, and this growth has been further accelerated by the Covid19 pandemic, the following lockdowns in many countries, more people being homebound, as well as the increased opportunities to work from home for many employees.\n\nThe e-commerce industry also feeds many other industries, such as AdTech and is therefore certainly a force to be reckoned with globally, as well as in Israel, where you will find both e-commerce companies, AdTech companies and other related businesses.\n<h2>Porat Group’s role in the e-commerce ecosystem</h2>\nSeveral companies from the e-commerce industry are Porat Group clients, since we offer legal services, as well as consulting advice that enables our clients to keep up with the latest regulatory and legislative issues related to the industry, both here in Israel, as well as worldwide.\nThis is important, since the legislation for e-commerce, as well as related industries is not only complex, but also cross-border in nature.\n\nOur commercial lawyers and consultants are additionally well informed of trends, news, players, transactions and changes in the industry, enabling us to not only offer legal assistance, but strategic consulting as well, whether it be related to M&amp;As, partnerships, payment issues and payment providers, tax consulting, business models, company structuring or other issues.\n\nFurthermore, Porat Group’s experienced e-commerce lawyers always work closely with each client in order to fully understand each client’s specific needs, anticipate issues that may arise and to be able to work towards the client’s goals in a strategic way. We have found this is vital in order to be able to provide not only high quality, but also proactive advice and services for our clients.\n<h2>Services we provide for e-commerce companies</h2>\nSome of the most requested services at Porat Group among the industry players are:\n<ul>\n 	<li>Company incorporation in numerous jurisdictions, as well as advice on the most suitable jurisdictions to incorporate in, based on the client’s needs.</li>\n 	<li>Corporate planning and taxation advice.</li>\n 	<li>Legal, regulatory and compliance advice related to, among other issues, affiliation, privacy, data security, consumer rights and consumer protection, digital advertising, online publishing, monetization and more.</li>\n 	<li>Advice related to Internet law, social media laws and technology law in general.</li>\n 	<li>Payment advice, guidance and optimization, including introductions to a number of payment providers.</li>\n 	<li>Legal and strategic advice related to electronic payments and banking.</li>\n 	<li>IP rights, IP protection, IP litigation, advice on issues related to domain names and cyber-squatting.</li>\n 	<li>Legal services and advice related to online contracts and agreements, as well as structuring those documents, terms of use, authentication and digital signatures.</li>\n 	<li>Legal and strategic advice related to cross-border transactions and business opportunities.</li>\n 	<li>Assistance with forming strategic relationships within the industry, as well as introductory services to partners, service providers and others.</li>\n 	<li>Assistance and legal guidance related to mergers and acquisitions, partnerships, partnership agreements etc.</li>\n 	<li>Pre-litigation advice, litigation and dispute resolution.</li>\n 	<li>Labor law related issues, such as employment contracts, employee benefits etc.</li>\n 	<li>Drafting, structuring and negotiating industry specific agreements and contracts such as licensing agreements, content provider agreements, service provider agreements, use of third party content and more.</li>\n 	<li>Business consulting and strategic advice related to business models, processes and channels.</li>\n</ul>\n<h2>How do we work with our e-commerce clients?</h2>\nWe work with some e-commerce clients in a general counsel capacity, but we also offer one time services such as specific contracts, assistance with a specific transaction or strategy etc. for clients in need of that.\nNo matter what the setup, our fees and billing will always be decided upon in advance and we offer all new clients and introductory meeting in order to understand their needs, strategies and goals better before getting started.\n<h2>Do you have legal questions related to e-commerce?</h2>\nIf so, don’t hesitate to set up a consultation with one of our e-commerce lawyers by contacting us here.', 'E-commerce', 'For all those already in, or looking to get involved into the fast evolving cryptocurrency market, Nir Porat & Co., Law Firm are experienced in assisting with, as well as advise on, all legal and commercial matters related to this exiting and growing market. The crypto currencies’ eco system is constantly expanding, and includes many players these days. The crypto currencies system can be categorized under 4 core sectors, each bearing its own characteristics and function within the cryptocurrency world.', 'inherit', 'closed', 'closed', '', '428-autosave-v1', '', '', '2021-01-09 20:29:55', '2021-01-09 17:29:55', '', 428, 'https://www.porat.com/428-autosave-v1/', 0, 'revision', '', 0),
(3783, 6, '2021-01-09 20:53:36', '2021-01-09 17:53:36', 'Gaming regulation in Costa Rica is a rather complicated matter, since there is no online gaming legislation in this country, despite it being a highly popular legislation for online gaming companies looking for a gaming license. More than 400 online gaming companies currently hold a Costa Rica gaming license and despite the legislation on the issue not being very clear, there is a constant interest from companies not yet holding a gaming license as well.\n<h2>Why Costa Rica is an attractive legislation despite the country not having an online gaming legislation</h2>\nThe opinion of the government in Costa Rica is that wagering actually does not take place at the gaming servers of the gaming operator, so while they have a strict legislation for land based gambling, they do not believe that this legislation applies to online gambling, as long as individuals who are actually located in the country are not able to wager on the site. Therefore, Costa Rican gaming license holders are exempt from the many tests, the monitoring and the regulations that apply to land based gambling operators in the country, as well as to online based gaming companies in many other jurisdictions, which of course is the main reason so many online gaming companies opt to apply for a Costa Rican gaming license over other available gaming licenses.\n\nIf opting for Costa Rican gaming regulation, companies do not need to worry about specific betting or gaming taxes either, as the companies in question will not be recognized as gaming companies, but will be operating with a special so called “data processing” license, that is significantly more beneficial.\n\nAdditionally, Costa Rica is generally not considered to be an offshore jurisdiction tax wise, which may be a significant advantage for companies dealing with the US and Europe in particular.\n\nIn order for the company to obtain a data processing license in the country, the company must have an office, as well as employees, in the country, but there is no requirement stating that the owners of the company must reside in the country.\n<h2>Why you need us</h2>\nThe Costa Rican gaming regulation process is by no means a simple or straight forward one. Therefore, it is essential to know exactly what you are doing when your goal is to become regulated with regards to gaming in Costa Rica, in order to save time and money.\n\nOur legal team is familiar with the process and also has a good network of contacts for specifically this purpose in the country, which makes it possible for us to streamline the process significantly, making sure applicants get a reply faster, and with minimal costs.\n\nWe also offer the full range of services any client interested in a Costa Rica gaming license may need - from services related to administration and paperwork, to help with leasing an office and recruiting staff for the branch in Costa Rica, and more.\n\nShould you have any doubts about a Costa Rica gaming license being the best possible choice for you, we also offer consultations on what distinguishes gaming regulation in Costa Rica from gaming regulation in other popular jurisdictions for gaming licenses, including European, Asian, and American jurisdictions.\n\nFurthermore, we offer all potential clients a free, non-binding consultation where the entire application and licensing process is explained in detail, during which you will get a complete overview of all costs involved as well.', 'Gaming regulation in Costa Rica', '', 'inherit', 'closed', 'closed', '', '3449-autosave-v1', '', '', '2021-01-09 20:53:36', '2021-01-09 17:53:36', '', 3449, 'https://www.porat.com/3449-autosave-v1/', 0, 'revision', '', 0);
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(3784, 6, '2021-01-09 20:54:26', '2021-01-09 17:54:26', 'Gaming regulation in Costa Rica is a rather complicated matter, since there is no online gaming legislation in this country, despite it being a highly popular legislation for online gaming companies looking for a gaming license. More than 400 online gaming companies currently hold a Costa Rica gaming license and despite the legislation on the issue not being very clear, there is a constant interest from companies not yet holding a gaming license as well.\r\n<h2>Why Costa Rica is an attractive legislation despite the country not having an online gaming legislation</h2>\r\nThe opinion of the government in Costa Rica is that wagering actually does not take place at the gaming servers of the gaming operator, so while they have a strict legislation for land based gambling, they do not believe that this legislation applies to online gambling, as long as individuals who are actually located in the country are not able to wager on the site. Therefore, Costa Rican gaming license holders are exempt from the many tests, the monitoring and the regulations that apply to land based gambling operators in the country, as well as to online based gaming companies in many other jurisdictions, which of course is the main reason so many online gaming companies opt to apply for a Costa Rican gaming license over other available gaming licenses.\r\n\r\nIf opting for Costa Rican gaming regulation, companies do not need to worry about specific betting or gaming taxes either, as the companies in question will not be recognized as gaming companies, but will be operating with a special so called “data processing” license, that is significantly more beneficial.\r\n\r\nAdditionally, Costa Rica is generally not considered to be an offshore jurisdiction tax wise, which may be a significant advantage for companies dealing with the US and Europe in particular.\r\n\r\nIn order for the company to obtain a data processing license in the country, the company must have an office, as well as employees, in the country, but there is no requirement stating that the owners of the company must reside in the country.\r\n<h2>Why you need us</h2>\r\nThe Costa Rican gaming regulation process is by no means a simple or straight forward one. Therefore, it is essential to know exactly what you are doing when your goal is to become regulated with regards to gaming in Costa Rica, in order to save time and money.\r\n\r\nOur legal team is familiar with the process and also has a good network of contacts for specifically this purpose in the country, which makes it possible for us to streamline the process significantly, making sure applicants get a reply faster, and with minimal costs.\r\n\r\nWe also offer the full range of services any client interested in a Costa Rica gaming license may need - from services related to administration and paperwork, to help with leasing an office and recruiting staff for the branch in Costa Rica, and more.\r\n\r\nShould you have any doubts about a Costa Rica gaming license being the best possible choice for you, we also offer consultations on what distinguishes gaming regulation in Costa Rica from gaming regulation in other popular jurisdictions for gaming licenses, including European, Asian, and American jurisdictions.\r\n\r\nFurthermore, we offer all potential clients a free, non-binding consultation where the entire application and licensing process is explained in detail, during which you will get a complete overview of all costs involved as well.', 'Gaming regulation in Costa Rica', '', 'inherit', 'closed', 'closed', '', '3449-revision-v1', '', '', '2021-01-09 20:54:26', '2021-01-09 17:54:26', '', 3449, 'https://www.porat.com/3449-revision-v1/', 0, 'revision', '', 0),
(3785, 6, '2021-01-13 11:20:58', '2021-01-13 08:20:58', 'While Switzerland may not strike everyone as a very progressive country on all counts, when it comes to cryptocurrency regulation Switzerland has definitely taken a very progressive stance compared to most countries. That is good for the industry as a whole, because Bitcoin and cryptocurrencies used to have a slightly bad reputation in some circles, and were associated by some with money laundering, crime etc.\r\n\r\nHowever, a jurisdiction does not get more respectable than Switzerland, so the fact that such a well known financial hub takes a stance for cryptocurrencies and bringing them into the mainstream is likely to have a positive effect on the industry in general.\r\n\r\nThe regulatory changes in the country, sometimes even called the “Crypto Nation” due to the extent of its favorable view on cryptocurrency consist both of updating several existing laws, as well as passing new laws touching upon the phenomenon. The plans for the future are even bigger, and Heinz Tännler, President of the Swiss Blockchain Federation, has predicted that in 2021, Switzerland will have the most extensive blockchain and cryptocurrency legislation in the entire world.\r\n\r\nAnyone looking to regulate a cryptocurrency exchange would therefore do well by considering licensing in Switzerland, where the regulatory certainty is already high, and where the future looks even brighter. Many of the leading companies in the industry are also based in Switzerland and it’s “CryptoValley” Zug (where, among other things, the first Bitcoin ATM was installed as early as 2014 and where municipal fees can be paid in Bitcoin since 2016), such as Facebook’s Libra Association and Ethereum.\r\n\r\nDue to the recent changes, legal standards for cryptocurrency exchanges have been set, and even many banks in the country have started viewing cryptocurrency businesses more favorably.\r\n<h2>About regulation of cryptocurrencies in Switzerland</h2>\r\nThe financial regulator in Switzerland is the Swiss Financial Market Supervisory Authority, or FINMA, and all cryptocurrency exchanges must naturally obtain a license from them in order to regulate their operations in the country, as well as be registered as either a Swiss AG (Public limited company) or GMBH (Limited liability company) company.\r\n\r\nThe regulatory process generally takes between 4 to 6 months.\r\n<h2>Requirements for those wishing to obtain a license for a cryptocurrency exchange in Switzerland</h2>\r\nCompanies interested in obtaining a license for their cryptocurrency exchange in Switzerland must fulfill the following requirements:\r\n<ul>\r\n 	<li style=\"list-style-type: none;\">\r\n<ul>\r\n 	<li>Registered as a company in Switzerland. The cost of incorporating a GMBH is 5000 CHF (which includes a bank account), and the minimum share capital is 20,000 CHF. In this case the shareholder is listed in a public commercial registry, while a higher minimum share capital of 100,000 CHF is required for a public limited company (AG) where the shareholder can remain anonymous. The company must have at least one shareholder and one director.</li>\r\n 	<li>Have an appropriate organizational structure.</li>\r\n 	<li>Compliance with Anti Money Laundering Act (AMLA) requirements.</li>\r\n 	<li>Good reputation for both the organization and those responsible for it.</li>\r\n 	<li>Ability to assure proper business conduct.</li>\r\n 	<li>Ability to keep track of transactions, identify and report anything suspicious.</li>\r\n</ul>\r\n</li>\r\n</ul>\r\n<h2>The two different licenses relevant to cryptocurrency exchanges</h2>\r\nCryptocurrency exchanges have two different licenses to choose from: a Fintech License and a Banking License. The Banking License allows for unlimited public deposits, but also requires a minimum capital of 10 million CHF, while a Fintech License allows for public deposits up to 100 million CHF, but the minimum capital required is lower. The rule is that licensees must at all times maintain capital amounting to 3% of the deposits made by clients, but in any case, not less than CHF 300,000.\r\n\r\nFor this reason, the Fintech license is the most relevant license for most of Porat Group’s clients.\r\n<h2>Additional information about the Fintech License</h2>\r\nThe Fintech License allows the holder to both store and trade virtual currencies. The actual management, as well as the domicile, of the company, must be located in Switzerland. Cooperatives are not eligible as Fintech license holders, but the companies must be organized either as a company limited by shares, a partnership limited by shares or a limited liability company.\r\n<h2>Documents required in order to apply for the Fintech License</h2>\r\nThe following documents are required for those who wish to apply for the Fintech License in Switzerland:\r\n<ul>\r\n 	<li>Copies of identification documents; (passports, for at least the shareholder and director)</li>\r\n 	<li>Copies of Swiss residence permits for foreign individuals;</li>\r\n 	<li>Signed and dated CVs;</li>\r\n 	<li>Copies of diplomas and other professional references/documents;</li>\r\n 	<li>Swiss criminal record extract;</li>\r\n 	<li>Criminal record extracts from the previous country of residence for foreign individuals if they have lived in Switzerland for less than 5 years;</li>\r\n 	<li>Extracts from the debt enforcement register;</li>\r\n 	<li>Declarations with regards to concluded and pending legal proceedings;</li>\r\n 	<li>Supporting documentation describing the internal organization as well as the business activity of the applicant, such as:\r\n- Business plan including a budget for the next financial 3 years, with a plan for both realistic, optimistic and pessimistic scenarios;\r\n- Detailed description of how public deposits are held;\r\n- Details of information for clients pursuant to Article 7a of the Banking Ordinance;\r\n- Descriptions of any conflict of interest as well as the related measures pursuant to Article 14g of the Banking Ordinance.</li>\r\n</ul>\r\n<strong>Why Switzerland and not another jurisdiction if you are looking to regulate your cryptocurrency exchange?</strong>\r\n\r\nSwitzerland has many advantages compared to most, if not all, other jurisdictions that may be relevant for those looking to regulate a cryptocurrency exchange. Some of those advantages, such as Switzerland being a true pioneer when it comes to the business in general, as well as to cryptocurrency regulation in particular, were already mentioned in the beginning of this post, but we’d also like to add the following advantages:\r\n<ul>\r\n 	<li>Unlike in many other countries, the relevant authorities, such as the FINMA and SBA, in Switzerland are very approachable and encourage personal contacts with them, if you are a regulated company in the country.</li>\r\n 	<li>Attractive corporate tax rates.</li>\r\n 	<li>Low taxes in several cantons, including in Zug, the center of the cryptocurrency industry.</li>\r\n 	<li>Possibilities to be exempted from dividend tax.</li>\r\n 	<li>The most relevant and high quality talent pool for the industry can be found in the country.</li>\r\n 	<li>Stable economy and political environment.</li>\r\n</ul>\r\n<h2>Sound good?</h2>\r\nIf you are interested in finding out more about the cryptocurrency regulation requirements in Switzerland, compliance with the rules and regulations there and/or want to start the regulatory process in the country, <a href=\"/?page_id=520\">contact us</a> in order to set up a consultation on the matter.', 'Cryptocurrency exchange regulation in Switzerland', '', 'publish', 'open', 'open', '', 'cryptocurrency-exchange-regulation-in-switzerland', '', '', '2021-01-14 10:10:47', '2021-01-14 07:10:47', '', 0, 'https://www.porat.com/?p=3785', 0, 'post', '', 0),
(3786, 6, '2021-01-13 11:19:15', '2021-01-13 08:19:15', 'Swiss Flag Switzerland Cryptocurrency Exchange Regulation', 'switzerland-cryptocurrency-exchange-regulation-flag', '', 'inherit', 'open', 'closed', '', 'swiss-flag-3109178_1920', '', '', '2021-01-13 11:20:40', '2021-01-13 08:20:40', '', 3785, 'https://www.porat.com/wp-content/uploads/2021/01/swiss-flag-3109178_1920.png', 0, 'attachment', 'image/png', 0),
(3787, 6, '2021-01-13 11:19:15', '2021-01-13 08:19:15', 'Swiss Flag Switzerland Cryptocurrency Exchange Regulation', 'swiss-flag-3109178_1920', '', 'inherit', 'open', 'closed', '', 'swiss-flag-3109178_1920-2', '', '', '2021-01-13 11:20:40', '2021-01-13 08:20:40', '', 0, 'https://www.porat.com/wp-content/uploads/2021/01/swiss-flag-3109178_1920.png', 0, 'attachment', 'image/png', 0),
(3788, 6, '2021-01-13 11:20:58', '2021-01-13 08:20:58', 'While Switzerland may not strike everyone as a very progressive country on all counts, when it comes to cryptocurrency regulation Switzerland has definitely taken a very progressive stance compared to most countries. That is good for the industry as a whole, because Bitcoin and cryptocurrencies used to have a slightly bad reputation in some circles, and were associated by some with money laundering, crime etc.\r\n\r\nHowever, a jurisdiction does not get more respectable than Switzerland, so the fact that such a well known financial hub takes a stance for cryptocurrencies and bringing them into the mainstream is likely to have a positive effect on the industry in general.\r\n\r\nThe regulatory changes in the country, sometimes even called the “Crypto Nation” due to the extent of its favorable view on cryptocurrency consist both of updating several existing laws, as well as passing new laws touching upon the phenomenon. The plans for the future are even bigger, and Heinz Tännler, President of the Swiss Blockchain Federation, has predicted that in 2021, Switzerland will have the most extensive blockchain and cryptocurrency legislation in the entire world.\r\n\r\nAnyone looking to regulate a cryptocurrency exchange would therefore do well by considering licensing in Switzerland, where the regulatory certainty is already high, and where the future looks even brighter. Many of the leading companies in the industry are also based in Switzerland and it’s “CryptoValley” Zug (where, among other things, the first Bitcoin ATM was installed as early as 2014 and where municipal fees can be paid in Bitcoin since 2016), such as Facebook’s Libra Association and Ethereum.\r\n\r\nDue to the recent changes, legal standards for cryptocurrency exchanges have been set, and even many banks in the country have started viewing cryptocurrency businesses more favorably.\r\n<h2>About regulation of cryptocurrencies in Switzerland</h2>\r\nThe financial regulator in Switzerland is the Swiss Financial Market Supervisory Authority, or FINMA, and all cryptocurrency exchanges must naturally obtain a license from them in order to regulate their operations in the country, as well as be registered as either a Swiss AG (Public limited company) or GMBH (Limited liability company) company.\r\n\r\nThe regulatory process generally takes between 4 to 6 months.\r\n<h2>Requirements for those wishing to obtain a license for a cryptocurrency exchange in Switzerland</h2>\r\nCompanies interested in obtaining a license for their cryptocurrency exchange in Switzerland must fulfill the following requirements:\r\n<ul>\r\n 	<li style=\"list-style-type: none;\">\r\n<ul>\r\n 	<li>Registered as a company in Switzerland. The cost of incorporating a GMBH is 5000 CHF (which includes a bank account), and the minimum share capital is 20,000 CHF. In this case the shareholder is listed in a public commercial registry, while a higher minimum share capital of 100,000 CHF is required for a public limited company (AG) where the shareholder can remain anonymous. The company must have at least one shareholder and one director.</li>\r\n 	<li>Have an appropriate organizational structure.</li>\r\n 	<li>Compliance with Anti Money Laundering Act (AMLA) requirements.</li>\r\n 	<li>Good reputation for both the organization and those responsible for it.</li>\r\n 	<li>Ability to assure proper business conduct.</li>\r\n 	<li>Ability to keep track of transactions, identify and report anything suspicious.</li>\r\n</ul>\r\n</li>\r\n</ul>\r\n<h2>The two different licenses relevant to cryptocurrency exchanges</h2>\r\nCryptocurrency exchanges have two different licenses to choose from: a Fintech License and a Banking License. The Banking License allows for unlimited public deposits, but also requires a minimum capital of 10 million CHF, while a Fintech License allows for public deposits up to 100 million CHF, but the minimum capital required is lower. The rule is that licensees must at all times maintain capital amounting to 3% of the deposits made by clients, but in any case, not less than CHF 300,000.\r\n\r\nFor this reason, the Fintech license is the most relevant license for most of Porat Group’s clients.\r\n<h2>Additional information about the Fintech License</h2>\r\nThe Fintech License allows the holder to both store and trade virtual currencies. The actual management, as well as the domicile, of the company, must be located in Switzerland. Cooperatives are not eligible as Fintech license holders, but the companies must be organized either as a company limited by shares, a partnership limited by shares or a limited liability company.\r\n<h2>Documents required in order to apply for the Fintech License</h2>\r\nThe following documents are required for those who wish to apply for the Fintech License in Switzerland:\r\n<ul>\r\n 	<li>Copies of identification documents; (passports, for at least the shareholder and director)</li>\r\n 	<li>Copies of Swiss residence permits for foreign individuals;</li>\r\n 	<li>Signed and dated CVs;</li>\r\n 	<li>Copies of diplomas and other professional references/documents;</li>\r\n 	<li>Swiss criminal record extract;</li>\r\n 	<li>Criminal record extracts from the previous country of residence for foreign individuals if they have lived in Switzerland for less than 5 years;</li>\r\n 	<li>Extracts from the debt enforcement register;</li>\r\n 	<li>Declarations with regards to concluded and pending legal proceedings;</li>\r\n 	<li>Supporting documentation describing the internal organization as well as the business activity of the applicant, such as:\r\n- Business plan including a budget for the next financial 3 years, with a plan for both realistic, optimistic and pessimistic scenarios;\r\n- Detailed description of how public deposits are held;\r\n- Details of information for clients pursuant to Article 7a of the Banking Ordinance;\r\n- Descriptions of any conflict of interest as well as the related measures pursuant to Article 14g of the Banking Ordinance.</li>\r\n</ul>\r\n<strong>Why Switzerland and not another jurisdiction if you are looking to regulate your cryptocurrency exchange?</strong>\r\n\r\nSwitzerland has many advantages compared to most, if not all, other jurisdictions that may be relevant for those looking to regulate a cryptocurrency exchange. Some of those advantages, such as Switzerland being a true pioneer when it comes to the business in general, as well as to cryptocurrency regulation in particular, were already mentioned in the beginning of this post, but we’d also like to add the following advantages:\r\n<ul>\r\n 	<li>Unlike in many other countries, the relevant authorities, such as the FINMA and SBA, in Switzerland are very approachable and encourage personal contacts with them, if you are a regulated company in the country.</li>\r\n 	<li>Attractive corporate tax rates.</li>\r\n 	<li>Low taxes in several cantons, including in Zug, the center of the cryptocurrency industry.</li>\r\n 	<li>Possibilities to be exempted from dividend tax.</li>\r\n 	<li>The most relevant and high quality talent pool for the industry can be found in the country.</li>\r\n 	<li>Stable economy and political environment.</li>\r\n</ul>\r\n<h2>Sound good?</h2>\r\nIf you are interested in finding out more about the cryptocurrency regulation requirements in Switzerland, compliance with the rules and regulations there and/or want to start the regulatory process in the country, <a href=\"https://www.porat.com/contact/\">contact us</a> in order to set up a consultation on the matter.', 'Cryptocurrency exchange regulation in Switzerland', '', 'inherit', 'closed', 'closed', '', '3785-revision-v1', '', '', '2021-01-13 11:20:58', '2021-01-13 08:20:58', '', 3785, 'https://www.porat.com/3785-revision-v1/', 0, 'revision', '', 0),
(3791, 6, '2021-01-13 19:13:29', '2021-01-13 16:13:29', 'When Estonia introduced a license specifically for cryptocurrency exchanges in November 2017 it was groundbreaking, and Estonian cryptocurrency licenses, issued by the Estonian Financial Intelligence Unit or FIU for short, continue to be sought after, since the government is extremely supportive of the cryptocurrency industry in general, allowing many companies within the industry to really thrive and for truly innovative thinking.\r\n\r\nPorat Group has extensive experience with these licenses, <strong>having assisted over 50 companies obtain FIU cryptocurrency exchange licenses so far</strong>, making us a top choice for companies interested in these licenses and the regulatory process in Estonia.\r\n\r\nUntil recently 2 different financial licenses were required for those wanting to operate a licensed cryptocurrency exchange in Estonia, the Virtual Currency Exchange Service License, and the Virtual Currency Wallet Service License but in 2020 the two separate licenses were united into one single license, simplifying the regulation process.\r\n<h2>Important information for anyone interested in an Estonian cryptocurrency exchange license</h2>\r\nThe most important thing to know if you are interested in regulating your cryptocurrency exchange business in Estonia is that you will be required to open a local branch of a foreign company or a company in Estonia to do so, and the center of management of the business in question is required to be in Estonia.\r\n\r\nThe company must have at least one shareholder and one director (can be the same person and these can be non-residents of Estonia, however one of the board members must be the company’s representative in Estonia). All board members and AML (Anti Money Laundering) officers must fit the \"Fit and Proper\" criteria of the FIU in terms of having adequate knowledge of AML regulation.\r\n\r\nDuring the regulatory process, the FIU is allowed to invite the AML officer to a personal meeting if needed. During this meeting, the purpose is to confirm that the AML officer indeed has the necessary knowledge of AML rules and Estonian laws required. If the officer is called to such a meeting by the FIU, the officer has a 60 day period to show up to the meeting.\r\n\r\nThe minimum share capital requirement is 12 000 euros (cannot be denominated in cryptocurrencies) and the new application fee for each application is 3300 euros.\r\n<h2>Why choose an Estonian cryptocurrency exchange license over other options?</h2>\r\nBesides Estonia being a true pioneer in the cryptocurrency and Fintech industries, some other advantages of this jurisdiction are:\r\n<ul>\r\n 	<li>The licensing fees are attractive compared to many other jurisdictions, even after the increased application fee that was introduced in 2020.</li>\r\n 	<li>The entire regulatory process also takes less time than in other jurisdictions, where the process can take months or even years. In Estonia, the process generally takes weeks. The regulator officially has 60 days to make a decision, which can be extended to 120 days if needed, according to the instructions for the regulatory process.</li>\r\n 	<li>The regulatory process is simple and straightforward in general.</li>\r\n 	<li>Experienced regulators and partners, such as banks, who have dealt with foreign investors and business people in the past, due to the large amounts of investors who have already flocked to the country following the innovative legislation the country offers.</li>\r\n 	<li>Corporate tax exemption on reinvested profits.</li>\r\n 	<li>Low dividend tax on dividends paid to legal entities.</li>\r\n 	<li>Possibility of an e-residency card that gives the holder access to various government services.</li>\r\n 	<li>Access to EU bank accounts.</li>\r\n</ul>\r\n<h2>Documents needed in order to apply for an Estonian cryptocurrency exchange license</h2>\r\nIn order to obtain the Estonian cryptocurrency exchange license the following documents must be submitted to the Estonian Financial Intelligence Unit (FIU):\r\n<ul>\r\n 	<li style=\"list-style-type: none;\">\r\n<ul>\r\n 	<li>Criminal record for all persons involved in the company (such as share holders, directors, board members, owners);</li>\r\n 	<li>Copies of the ID of all the persons mentioned above (passport);</li>\r\n 	<li>A complete application.</li>\r\n</ul>\r\n</li>\r\n</ul>\r\nThe documents can be submitted in either English or Russian, and each document must be certified with an apostille that can not be older than max. 3 months.\r\n\r\nThe regulator may also request additional information as needed, such as CVs for the involved persons, business plans etc.\r\n<h2>Interested?</h2>\r\nIf the above sounds suitable for your cryptocurrency exchange and you think an Estonian license might be a good option for you, the lawyers at Porat Group would be happy to tell you more about it, as well as explain how an Estonian cryptocurrency exchange license compares to other similar licenses.\r\n\r\nNaturally we can also take a hands on approach to the entire regulatory process if you decide to apply, as we have with over 50 companies who have already obtained the license through us.\r\n\r\nWe are also able assist with introductory services to banks, payment providers and other service providers as needed.', 'Estonian Licensed Cryptocurrency Exchanges', '', 'inherit', 'closed', 'closed', '', '2554-revision-v1', '', '', '2021-01-13 19:13:29', '2021-01-13 16:13:29', '', 2554, 'https://www.porat.com/2554-revision-v1/', 0, 'revision', '', 0),
(3792, 6, '2021-01-13 19:18:33', '2021-01-13 16:18:33', 'When Estonia introduced a license specifically for cryptocurrency exchanges in November 2017 it was groundbreaking, and Estonian cryptocurrency licenses, issued by the Estonian Financial Intelligence Unit or FIU for short, continue to be sought after, since the government is extremely supportive of the cryptocurrency industry in general, allowing many companies within the industry to really thrive and for truly innovative thinking.\r\n\r\nPorat Group has extensive experience with these licenses, <strong>having assisted over 50 companies successfully obtain FIU cryptocurrency exchange licenses so far</strong>, making us a top choice for companies interested in these licenses and the regulatory process in Estonia.\r\n\r\nUntil recently 2 different financial licenses were required for those wanting to operate a licensed cryptocurrency exchange in Estonia, the Virtual Currency Exchange Service License, and the Virtual Currency Wallet Service License but in 2020 the two separate licenses were united into one single license, simplifying the regulation process.\r\n<h2>Important information for anyone interested in an Estonian cryptocurrency exchange license</h2>\r\nThe most important thing to know if you are interested in regulating your cryptocurrency exchange business in Estonia is that you will be required to open a local branch of a foreign company or a company in Estonia to do so, and the center of management of the business in question is required to be in Estonia.\r\n\r\nThe company must have at least one shareholder and one director (can be the same person and these can be non-residents of Estonia, however one of the board members must be the company’s representative in Estonia). All board members and AML (Anti Money Laundering) officers must fit the \"Fit and Proper\" criteria of the FIU in terms of having adequate knowledge of AML regulation.\r\n\r\nDuring the regulatory process, the FIU is allowed to invite the AML officer to a personal meeting if needed. During this meeting, the purpose is to confirm that the AML officer indeed has the necessary knowledge of AML rules and Estonian laws required. If the officer is called to such a meeting by the FIU, the officer has a 60 day period to show up to the meeting.\r\n\r\nThe minimum share capital requirement is 12 000 euros (cannot be denominated in cryptocurrencies) and the new application fee for each application is 3300 euros.\r\n<h2>Why choose an Estonian cryptocurrency exchange license over other options?</h2>\r\nBesides Estonia being a true pioneer in the cryptocurrency and Fintech industries, some other advantages of this jurisdiction are:\r\n<ul>\r\n 	<li>The licensing fees are attractive compared to many other jurisdictions, even after the increased application fee that was introduced in 2020.</li>\r\n 	<li>The entire regulatory process also takes less time than in other jurisdictions, where the process can take months or even years. In Estonia, the process generally takes weeks. The regulator officially has 60 days to make a decision, which can be extended to 120 days if needed, according to the instructions for the regulatory process.</li>\r\n 	<li>The regulatory process is simple and straightforward in general.</li>\r\n 	<li>Experienced regulators and partners, such as banks, who have dealt with foreign investors and business people in the past, due to the large amounts of investors who have already flocked to the country following the innovative legislation the country offers.</li>\r\n 	<li>Corporate tax exemption on reinvested profits.</li>\r\n 	<li>Low dividend tax on dividends paid to legal entities.</li>\r\n 	<li>Possibility of an e-residency card that gives the holder access to various government services.</li>\r\n 	<li>Access to EU bank accounts.</li>\r\n</ul>\r\n<h2>Documents needed in order to apply for an Estonian cryptocurrency exchange license</h2>\r\nIn order to obtain the Estonian cryptocurrency exchange license the following documents must be submitted to the Estonian Financial Intelligence Unit (FIU):\r\n<ul>\r\n 	<li style=\"list-style-type: none;\">\r\n<ul>\r\n 	<li>Criminal record for all persons involved in the company (such as share holders, directors, board members, owners);</li>\r\n 	<li>Copies of the ID of all the persons mentioned above (passport);</li>\r\n 	<li>A complete application.</li>\r\n</ul>\r\n</li>\r\n</ul>\r\nThe documents can be submitted in either English or Russian, and each document must be certified with an apostille that can not be older than max. 3 months.\r\n\r\nThe regulator may also request additional information as needed, such as CVs for the involved persons, business plans etc.\r\n<h2>Interested?</h2>\r\nIf the above sounds suitable for your cryptocurrency exchange and you think an Estonian license might be a good option for you, the lawyers at Porat Group would be happy to tell you more about it, as well as explain how an Estonian cryptocurrency exchange license compares to other similar licenses.\r\n\r\nNaturally we can also take a hands on approach to the entire regulatory process if you decide to apply, as we have with over 50 companies who have already obtained the license through us.\r\n\r\nWe are also able assist with introductory services to banks, payment providers and other service providers as needed.', 'Estonian Licensed Cryptocurrency Exchanges', '', 'inherit', 'closed', 'closed', '', '2554-revision-v1', '', '', '2021-01-13 19:18:33', '2021-01-13 16:18:33', '', 2554, 'https://www.porat.com/2554-revision-v1/', 0, 'revision', '', 0),
(3793, 6, '2021-01-13 19:20:06', '2021-01-13 16:20:06', 'When Estonia introduced a license specifically for cryptocurrency exchanges in November 2017 it was groundbreaking, and Estonian cryptocurrency licenses, issued by the Estonian Financial Intelligence Unit or FIU for short, continue to be sought after, since the government is extremely supportive of the cryptocurrency industry in general, allowing many companies within the industry to really thrive and for truly innovative thinking.\r\n\r\nPorat Group has extensive experience with these licenses, <strong>having assisted over 50 companies successfully obtain FIU cryptocurrency exchange licenses so far</strong>, making us a top choice for companies interested in these licenses and the regulatory process in Estonia.\r\n\r\nUntil recently 2 different financial licenses were required for those wanting to operate a licensed cryptocurrency exchange in Estonia, the Virtual Currency Exchange Service License, and the Virtual Currency Wallet Service License but in 2020 the two separate licenses were united into one single license, simplifying the regulation process.\r\n<h2>Important information for anyone interested in an Estonian cryptocurrency exchange license</h2>\r\nThe most important thing to know if you are interested in regulating your cryptocurrency exchange business in Estonia is that you will be required to open a local branch of a foreign company or a company in Estonia to do so, and the center of management of the business in question is required to be in Estonia.\r\n\r\nThe company must have at least one shareholder and one director (can be the same person and these can be non-residents of Estonia, however one of the board members must be the company’s representative in Estonia). All board members and AML (Anti Money Laundering) officers must fit the \"Fit and Proper\" criteria of the FIU in terms of having adequate knowledge of AML regulation.\r\n\r\nDuring the regulatory process, the FIU is allowed to invite the AML officer to a personal meeting if needed. During this meeting, the purpose is to confirm that the AML officer indeed has the necessary knowledge of AML rules and Estonian laws required. If the officer is called to such a meeting by the FIU, the officer has a 60 day period to show up to the meeting.\r\n\r\nThe minimum share capital requirement is 12 000 euros (cannot be denominated in cryptocurrencies) and the new application fee for each application is 3300 euros.\r\n<h2>Why choose an Estonian cryptocurrency exchange license over other options?</h2>\r\nBesides Estonia being a true pioneer in the cryptocurrency and Fintech industries, some other advantages of this jurisdiction are:\r\n<ul>\r\n 	<li>The licensing fees are attractive compared to many other jurisdictions, even after the increased application fee that was introduced in 2020.</li>\r\n 	<li>The entire regulatory process also takes less time than in other jurisdictions, where the process can take months or even years. In Estonia, the process generally takes weeks. The regulator officially has 60 days to make a decision, which can be extended to 120 days if needed, according to the instructions for the regulatory process.</li>\r\n 	<li>The regulatory process is simple and straightforward in general.</li>\r\n 	<li>Experienced regulators and partners, such as banks, who have dealt with foreign investors and business people in the past, due to the large amounts of investors who have already flocked to the country following the innovative legislation the country offers.</li>\r\n 	<li>Corporate tax exemption on reinvested profits.</li>\r\n 	<li>Low dividend tax on dividends paid to legal entities.</li>\r\n 	<li>Possibility of an e-residency card that gives the holder access to various government services.</li>\r\n 	<li>Access to EU bank accounts.</li>\r\n</ul>\r\n<h2>Documents needed in order to apply for an Estonian cryptocurrency exchange license</h2>\r\nIn order to obtain the Estonian cryptocurrency exchange license the following documents must be submitted to the Estonian Financial Intelligence Unit (FIU):\r\n<ul>\r\n 	<li style=\"list-style-type: none;\">\r\n<ul>\r\n 	<li>Criminal record for all persons involved in the company (such as share holders, directors, board members, owners);</li>\r\n 	<li>Copies of the ID of all the persons mentioned above (passport);</li>\r\n 	<li>A complete application.</li>\r\n</ul>\r\n</li>\r\n</ul>\r\nThe documents can be submitted in either English or Russian, and each document must be certified with an apostille that can not be older than max. 3 months.\r\n\r\nThe regulator may also request additional information as needed, such as CVs for the involved persons, business plans etc.\r\n<h2>Interested?</h2>\r\nIf the above sounds suitable for your cryptocurrency exchange and you think an Estonian license might be a good option for you, the lawyers at Porat Group would be happy to tell you more about it, as well as explain how an Estonian cryptocurrency exchange license compares to other similar licenses.\r\n\r\nNaturally we can also take a hands on approach to the entire regulatory process if you decide to apply, as we have with over 50 companies who have already obtained the license successfully through us.\r\n\r\nWe are also able assist with introductory services to banks, payment providers and other service providers as needed.', 'Estonian Licensed Cryptocurrency Exchanges', '', 'inherit', 'closed', 'closed', '', '2554-revision-v1', '', '', '2021-01-13 19:20:06', '2021-01-13 16:20:06', '', 2554, 'https://www.porat.com/2554-revision-v1/', 0, 'revision', '', 0),
(3794, 6, '2021-01-13 20:11:27', '2021-01-13 17:11:27', 'The continents of Asia and Oceania, home to some of the leading and emerging economies of the world, have seen dramatic developments in the cryptocurrency arena.\n\n<u>China</u> - The most recent development came out of China, China being a key player in the cryptocurrencies eco system as most of the mining capabilities of the industry are located in China, led by mining power house Bitmain.\n\nChina \'s attitude towards cryptocurrencies has seen some major shifts, starting with the Central Bank\'s warning to local banks warning them from conducting transactions in cryptocurrencies, which was followed by a ban imposed on financial institutions and third-party payment providers from accepting, using, or selling cryptocurrencies.\n\nOn the other end, the public was allowed to conduct transactions involving cryptocurrencies, while exchanges involved in cryptocurrency activities were required to register with the Central Bank and are closely monitored.\n\nLately, Chinese authorities imposed an immediate ban on all Initial Coin Offering (ICO) activities in China, stating that such activities shall be resumed once a licensing and supervision regime of ICOs is finalized. Finally, several reports hints at the Chinese Central Bank\'s plan to develop its own cryptocurrency for China.\n\n<u>Japan</u> - the first jurisdiction to regulate cryptocurrencies activities by enacting a law regulating virtual currency exchange operators (VCEOs) back in May 2016. The law came into effect on April 1, 2017. The law states capital requirements for virtual currency exchanges and sets cybersecurity and operational requirements, as well as duties to conduct employee training programs and submit annual audits.\n\n<u>The Philippines</u> – Philippines has established itself as one of the first jurisdictions in Southeast Asia to formally regulate cryptocurrency activities through the regulating of cryptocurrency exchanges as remittance and transfer companies. As of June 2016, cryptocurrency exchanges must obtain a Certificate of Registration and comply with annual filing and reporting obligations. Some of the main requirements of the regulatory framework include the implementation of appropriate risk management and security controls, and restricting the acceptance of transactions to $10,000 cap.\n\n<u>Australia</u> - Australia is yet to develop its own regulatory framework to cryptocurrency activities. In 2016, the Australian Attorney-General’s Department issued a Consultation Document stating that the government seek to start drafting legislative proposals to regulate crypto, hoping to finalize that legislation in 2018.\n\n<u>New Zealand</u> – NZ has not taken any concrete steps to regulate cryptocurrencies, and for the time being it only issued the typical warning to investors as to the risks related to trading in cryptocurrencies. Reportedly, several statements issued by local officials show a favorable attitude towards cryptocurrencies and the need to regulate these activities.\n\n<u>India</u> - the Reserve Bank has issued warnings to the public about the risks associated with cryptocurrencies and is reportedly examining the legal implications of cryptocurrencies activities under India’s existing legal framework.\n\n<u>Malaysia</u> - the Central Bank of Malaysia stated that cryptocurrencies are not legal tender, and that cryptocurrency activities are not regulated in Malaysia. Additionally the Central Bank advised the public of the risks involved in such activities.\n\n<u>Thailand</u> - the Central Bank has declared that a company which provides bitcoin exchange against the local currency (the baht) does not require a license of approval from the Central Bank, while bitcoin exchange against international currencies will require a license from the Central Bank.\n\n<u>South Korea</u> - while the official position is that cryptocurrencies are not legal tender, a new cryptocurrency task force has been launched in the country with the goal to introduce new regulations for exchanges involved in cryptocurrency transactions.\n\n<u>Indonesia</u> - cryptocurrencies are not considered legal tender, and the use of cryptocurrencies violates the country’s information and electronic transaction laws and currency laws.\n\n<u>Vietnam</u> - the State Bank of Vietnam recommends not investing, holding or transacting in cryptocurrencies due to potential risks of use for criminal purposes, lack of technical security and high vulnerability to hacking, price volatility, and lack of a central government authority for these activities. It also stated that cryptocurrencies are not money nor are they a form of legal payment in Vietnam.\n\nWe are expecting for the regulatory landscape of the cryptocurrency industry to change and develop further and will be updating our website, to reflect any significant changes related to regulatory matters of interest for the industry.\n\nPorat Group is one of the first law firms to have a dedicated team specializing on the cryptocurrency industry, as well as to offer legal services related to the regulation of cryptocurrency businesses and products. Therefore our lawyers are well equipped to handle regulation processes for these types of businesses in various jurisdictions, including several of the Asian and Oceanian ones.\n\nWe have also made a point of proving our commitment to the cryptocurrency industry by accepting payments in several crypto currencies for our legal services.\n\nAll business owners active in the crypto currencies business who are interested in knowing more about regulating their product or business or about the different options for regulating businesses and products in this field are welcome to <a href=\"/?page_id=520\">contact the Porat Group team</a> for a free and non-binding consultation to discuss this further.', 'Regulation of Cryptocurrencies in Asia and Oceania', '', 'inherit', 'closed', 'closed', '', '3333-autosave-v1', '', '', '2021-01-13 20:11:27', '2021-01-13 17:11:27', '', 3333, 'https://www.porat.com/3333-autosave-v1/', 0, 'revision', '', 0),
(3795, 6, '2021-01-13 20:03:57', '2021-01-13 17:03:57', 'The continents of Asia and Oceania, home to some of the leading and emerging economies of the world, have seen dramatic developments in the crypto currency arena.\r\n\r\n<u>China</u> - The most recent development came out of China. China is a key player in the crypto currencies eco system as most of the mining capabilities of the industry are located in China, led by mining power house Bitmain. China \'s attitude towards crypto currencies has seen some major shifts, starting with the Central Bank\'s warning to local banks warning them form conducting transactions in crypto currencies, which was followed by a ban imposed on financial institutions and third-party payment providers from accepting, using, or selling crypto currencies. On the other end, the public was allowed to conduct transactions involving crypto currencies, while exchanges involved in crypto currencies activities were required to register with the central Bank and are closely monitored. Lately, Chinese authorities imposed an immediate ban on all Initial Coin Offering (ICO) activities in China, stating that such activities shall be resumed once a licensing and supervision regime of ICOs is finalized. Finally, several reports hints at the Central Bank\'s plan to develop its own crypto currency for China.\r\n\r\n<u>Japan</u> - the first jurisdiction to regulate crypto currencies activities by enacting a law regulating virtual currency exchange operators (VCEOs) back in May 2016. The law came into effect on April 1, 2017. The law states capital requirements for virtual currency exchanges and sets cybersecurity and operational requirements, as well as duties to conduct employee training programs and submit annual audits.\r\n\r\n<u>The Philippines</u> – Philippines has established itself as one of the first jurisdictions in Southeast Asia to formally regulate crypto currencies activities through the regulating of crypto currency exchanges as remittance and transfer companies. As of June 2016, crypto currencies exchanges must obtain a Certificate of Registration and comply with annual filing and reporting obligations. Some of the main requirements of the regulatory framework include the implementation of appropriate risk management and security controls, and restricting the acceptance of transactions to $10,000 cap.\r\n\r\n<u>Australia</u> - Australia is yet to develop its own regulatory framework to crypto currencies activities. In 2016, the Australian Attorney-General’s Department issued a Consultation Document stating that the government seek to start drafting legislative proposals to regulate crypto, hoping to finalize that legislation in 2018.\r\n\r\n<u>New Zealand</u> – NZ has not taken any concrete steps to regulate crypto currencies, and for the time being it only issued the typical warning to investors as to the risks related to trading in crypto currencies. Reportedly, several statements issued by local officials show a favorable attitude towards crypto currencies and the need to regulate these activities.\r\n\r\n<u>India</u> - the Reserve Bank has issued warnings to the public about the risks associated with crypto currencies and is reportedly examining the legal implications of crypto currencies activities under India’s existing legal framework.\r\n\r\n<u>Malaysia</u> - the Central Bank of Malaysia stated that crypto currencies are not legal tender, that crypto currencies activities are not regulated in Malaysia and advised the public of the risks involved in such activities.\r\n\r\n<u>Thailand</u> - the Central Bank has declared that a company which provides bitcoin exchange against the local currency (the baht) does not require a license of approval from the Central Bank, while bitcoin exchange against international currencies will require a license from the Central Bank.\r\n\r\n<u>South Korea</u> - while the official position is that crypto currencies are not legal tender, a new crypto currency task force has been launched with the goal to introduce new regulations for exchanges involved in crypto currency transactions.\r\n\r\n<u>Indonesia</u> - crypto currencies are not considered legal tender, and the use of crypto currencies violates the country’s information and electronic transaction laws and currency laws.\r\n\r\n<u>Vietnam</u> - the State Bank of Vietnam recommends not investing, holding or transacting in crypto currencies due to potential risks of use for criminal purposes, lack of technical security and high vulnerability to hacking, price volatility, and lack of a central government authority. It also stated that crypto currencies are not money nor are they a form of legal payment in Vietnam.\r\n\r\nWe are expecting for the regulatory landscape of the crypto currencies industry to change and develop further and will be updating our website, including this page, to reflect any significant changes related to regulatory matters for the industry.\r\n\r\nPorat Group is one of the first law firms to have a dedicated team specializing on the crypto currencies industry, as well as to offer legal services related to the regulation of crypto currency businesses and products. Therefore our lawyers are well equipped to handle regulation processes for these types of businesses in various jurisdictions, including several of the Asian and Oceanian ones.\r\n\r\nWe have also made a point of proving our commitment to the crypto currency industry by accepting payments in several crypto currencies for our legal services.\r\n\r\nAll business owners active in the crypto currencies business who are interested in knowing more about regulating their product or business or about the different options for regulating businesses and products in this field are welcome to <a href=\"https://www.porat.com/contact/\">contact the Porat Group team</a> for a free and non-binding consultation to discuss this further.', 'Regulation of Cryptocurrencies in Asia and Oceania', '', 'inherit', 'closed', 'closed', '', '3333-revision-v1', '', '', '2021-01-13 20:03:57', '2021-01-13 17:03:57', '', 3333, 'https://www.porat.com/3333-revision-v1/', 0, 'revision', '', 0);
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(3796, 6, '2021-01-13 20:06:03', '2021-01-13 17:06:03', 'The continents of Asia and Oceania, home to some of the leading and emerging economies of the world, have seen dramatic developments in the crypto currency arena.\r\n\r\n<u>China</u> - The most recent development came out of China, China being a key player in the cryptocurrencies eco system as most of the mining capabilities of the industry are located in China, led by mining power house Bitmain. China \'s attitude towards cryptocurrencies has seen some major shifts, starting with the Central Bank\'s warning to local banks warning them form conducting transactions in cryptocurrencies, which was followed by a ban imposed on financial institutions and third-party payment providers from accepting, using, or selling crypto currencies. On the other end, the public was allowed to conduct transactions involving crypto currencies, while exchanges involved in crypto currencies activities were required to register with the central Bank and are closely monitored. Lately, Chinese authorities imposed an immediate ban on all Initial Coin Offering (ICO) activities in China, stating that such activities shall be resumed once a licensing and supervision regime of ICOs is finalized. Finally, several reports hints at the Chinese Central Bank\'s plan to develop its own cryptocurrency for China.\r\n\r\n<u>Japan</u> - the first jurisdiction to regulate crypto currencies activities by enacting a law regulating virtual currency exchange operators (VCEOs) back in May 2016. The law came into effect on April 1, 2017. The law states capital requirements for virtual currency exchanges and sets cybersecurity and operational requirements, as well as duties to conduct employee training programs and submit annual audits.\r\n\r\n<u>The Philippines</u> – Philippines has established itself as one of the first jurisdictions in Southeast Asia to formally regulate crypto currencies activities through the regulating of crypto currency exchanges as remittance and transfer companies. As of June 2016, crypto currencies exchanges must obtain a Certificate of Registration and comply with annual filing and reporting obligations. Some of the main requirements of the regulatory framework include the implementation of appropriate risk management and security controls, and restricting the acceptance of transactions to $10,000 cap.\r\n\r\n<u>Australia</u> - Australia is yet to develop its own regulatory framework to crypto currencies activities. In 2016, the Australian Attorney-General’s Department issued a Consultation Document stating that the government seek to start drafting legislative proposals to regulate crypto, hoping to finalize that legislation in 2018.\r\n\r\n<u>New Zealand</u> – NZ has not taken any concrete steps to regulate crypto currencies, and for the time being it only issued the typical warning to investors as to the risks related to trading in crypto currencies. Reportedly, several statements issued by local officials show a favorable attitude towards crypto currencies and the need to regulate these activities.\r\n\r\n<u>India</u> - the Reserve Bank has issued warnings to the public about the risks associated with crypto currencies and is reportedly examining the legal implications of crypto currencies activities under India’s existing legal framework.\r\n\r\n<u>Malaysia</u> - the Central Bank of Malaysia stated that crypto currencies are not legal tender, that crypto currencies activities are not regulated in Malaysia and advised the public of the risks involved in such activities.\r\n\r\n<u>Thailand</u> - the Central Bank has declared that a company which provides bitcoin exchange against the local currency (the baht) does not require a license of approval from the Central Bank, while bitcoin exchange against international currencies will require a license from the Central Bank.\r\n\r\n<u>South Korea</u> - while the official position is that crypto currencies are not legal tender, a new crypto currency task force has been launched with the goal to introduce new regulations for exchanges involved in crypto currency transactions.\r\n\r\n<u>Indonesia</u> - crypto currencies are not considered legal tender, and the use of crypto currencies violates the country’s information and electronic transaction laws and currency laws.\r\n\r\n<u>Vietnam</u> - the State Bank of Vietnam recommends not investing, holding or transacting in crypto currencies due to potential risks of use for criminal purposes, lack of technical security and high vulnerability to hacking, price volatility, and lack of a central government authority. It also stated that crypto currencies are not money nor are they a form of legal payment in Vietnam.\r\n\r\nWe are expecting for the regulatory landscape of the crypto currencies industry to change and develop further and will be updating our website, including this page, to reflect any significant changes related to regulatory matters for the industry.\r\n\r\nPorat Group is one of the first law firms to have a dedicated team specializing on the crypto currencies industry, as well as to offer legal services related to the regulation of crypto currency businesses and products. Therefore our lawyers are well equipped to handle regulation processes for these types of businesses in various jurisdictions, including several of the Asian and Oceanian ones.\r\n\r\nWe have also made a point of proving our commitment to the crypto currency industry by accepting payments in several crypto currencies for our legal services.\r\n\r\nAll business owners active in the crypto currencies business who are interested in knowing more about regulating their product or business or about the different options for regulating businesses and products in this field are welcome to <a href=\"/?page_id=520\">contact the Porat Group team</a> for a free and non-binding consultation to discuss this further.', 'Regulation of Cryptocurrencies in Asia and Oceania', '', 'inherit', 'closed', 'closed', '', '3333-revision-v1', '', '', '2021-01-13 20:06:03', '2021-01-13 17:06:03', '', 3333, 'https://www.porat.com/3333-revision-v1/', 0, 'revision', '', 0),
(3797, 6, '2021-01-13 20:06:18', '2021-01-13 17:06:18', 'The continents of Asia and Oceania, home to some of the leading and emerging economies of the world, have seen dramatic developments in the cryptocurrency arena.\r\n\r\n<u>China</u> - The most recent development came out of China, China being a key player in the cryptocurrencies eco system as most of the mining capabilities of the industry are located in China, led by mining power house Bitmain. China \'s attitude towards cryptocurrencies has seen some major shifts, starting with the Central Bank\'s warning to local banks warning them form conducting transactions in cryptocurrencies, which was followed by a ban imposed on financial institutions and third-party payment providers from accepting, using, or selling crypto currencies. On the other end, the public was allowed to conduct transactions involving crypto currencies, while exchanges involved in crypto currencies activities were required to register with the central Bank and are closely monitored. Lately, Chinese authorities imposed an immediate ban on all Initial Coin Offering (ICO) activities in China, stating that such activities shall be resumed once a licensing and supervision regime of ICOs is finalized. Finally, several reports hints at the Chinese Central Bank\'s plan to develop its own cryptocurrency for China.\r\n\r\n<u>Japan</u> - the first jurisdiction to regulate crypto currencies activities by enacting a law regulating virtual currency exchange operators (VCEOs) back in May 2016. The law came into effect on April 1, 2017. The law states capital requirements for virtual currency exchanges and sets cybersecurity and operational requirements, as well as duties to conduct employee training programs and submit annual audits.\r\n\r\n<u>The Philippines</u> – Philippines has established itself as one of the first jurisdictions in Southeast Asia to formally regulate crypto currencies activities through the regulating of crypto currency exchanges as remittance and transfer companies. As of June 2016, crypto currencies exchanges must obtain a Certificate of Registration and comply with annual filing and reporting obligations. Some of the main requirements of the regulatory framework include the implementation of appropriate risk management and security controls, and restricting the acceptance of transactions to $10,000 cap.\r\n\r\n<u>Australia</u> - Australia is yet to develop its own regulatory framework to crypto currencies activities. In 2016, the Australian Attorney-General’s Department issued a Consultation Document stating that the government seek to start drafting legislative proposals to regulate crypto, hoping to finalize that legislation in 2018.\r\n\r\n<u>New Zealand</u> – NZ has not taken any concrete steps to regulate crypto currencies, and for the time being it only issued the typical warning to investors as to the risks related to trading in crypto currencies. Reportedly, several statements issued by local officials show a favorable attitude towards crypto currencies and the need to regulate these activities.\r\n\r\n<u>India</u> - the Reserve Bank has issued warnings to the public about the risks associated with crypto currencies and is reportedly examining the legal implications of crypto currencies activities under India’s existing legal framework.\r\n\r\n<u>Malaysia</u> - the Central Bank of Malaysia stated that crypto currencies are not legal tender, that crypto currencies activities are not regulated in Malaysia and advised the public of the risks involved in such activities.\r\n\r\n<u>Thailand</u> - the Central Bank has declared that a company which provides bitcoin exchange against the local currency (the baht) does not require a license of approval from the Central Bank, while bitcoin exchange against international currencies will require a license from the Central Bank.\r\n\r\n<u>South Korea</u> - while the official position is that crypto currencies are not legal tender, a new crypto currency task force has been launched with the goal to introduce new regulations for exchanges involved in crypto currency transactions.\r\n\r\n<u>Indonesia</u> - crypto currencies are not considered legal tender, and the use of crypto currencies violates the country’s information and electronic transaction laws and currency laws.\r\n\r\n<u>Vietnam</u> - the State Bank of Vietnam recommends not investing, holding or transacting in crypto currencies due to potential risks of use for criminal purposes, lack of technical security and high vulnerability to hacking, price volatility, and lack of a central government authority. It also stated that crypto currencies are not money nor are they a form of legal payment in Vietnam.\r\n\r\nWe are expecting for the regulatory landscape of the crypto currencies industry to change and develop further and will be updating our website, including this page, to reflect any significant changes related to regulatory matters for the industry.\r\n\r\nPorat Group is one of the first law firms to have a dedicated team specializing on the crypto currencies industry, as well as to offer legal services related to the regulation of crypto currency businesses and products. Therefore our lawyers are well equipped to handle regulation processes for these types of businesses in various jurisdictions, including several of the Asian and Oceanian ones.\r\n\r\nWe have also made a point of proving our commitment to the crypto currency industry by accepting payments in several crypto currencies for our legal services.\r\n\r\nAll business owners active in the crypto currencies business who are interested in knowing more about regulating their product or business or about the different options for regulating businesses and products in this field are welcome to <a href=\"/?page_id=520\">contact the Porat Group team</a> for a free and non-binding consultation to discuss this further.', 'Regulation of Cryptocurrencies in Asia and Oceania', '', 'inherit', 'closed', 'closed', '', '3333-revision-v1', '', '', '2021-01-13 20:06:18', '2021-01-13 17:06:18', '', 3333, 'https://www.porat.com/3333-revision-v1/', 0, 'revision', '', 0),
(3798, 6, '2021-01-13 20:12:28', '2021-01-13 17:12:28', 'The continents of Asia and Oceania, home to some of the leading and emerging economies of the world, have seen dramatic developments in the cryptocurrency arena.\r\n\r\n<u>China</u> - The most recent development came out of China, China being a key player in the cryptocurrencies eco system as most of the mining capabilities of the industry are located in China, led by mining power house Bitmain.\r\n\r\nChina \'s attitude towards cryptocurrencies has seen some major shifts, starting with the Central Bank\'s warning to local banks warning them from conducting transactions in cryptocurrencies, which was followed by a ban imposed on financial institutions and third-party payment providers from accepting, using, or selling cryptocurrencies.\r\n\r\nOn the other end, the public was allowed to conduct transactions involving cryptocurrencies, while exchanges involved in cryptocurrency activities were required to register with the Central Bank and are closely monitored.\r\n\r\nLately, Chinese authorities imposed an immediate ban on all Initial Coin Offering (ICO) activities in China, stating that such activities shall be resumed once a licensing and supervision regime of ICOs is finalized. Finally, several reports hints at the Chinese Central Bank\'s plan to develop its own cryptocurrency for China.\r\n\r\n<u>Japan</u> - the first jurisdiction to regulate cryptocurrencies activities by enacting a law regulating virtual currency exchange operators (VCEOs) back in May 2016. The law came into effect on April 1, 2017. The law states capital requirements for virtual currency exchanges and sets cybersecurity and operational requirements, as well as duties to conduct employee training programs and submit annual audits.\r\n\r\n<u>The Philippines</u> – Philippines has established itself as one of the first jurisdictions in Southeast Asia to formally regulate cryptocurrency activities through the regulating of cryptocurrency exchanges as remittance and transfer companies. As of June 2016, cryptocurrency exchanges must obtain a Certificate of Registration and comply with annual filing and reporting obligations. Some of the main requirements of the regulatory framework include the implementation of appropriate risk management and security controls, and restricting the acceptance of transactions to $10,000 cap.\r\n\r\n<u>Australia</u> - Australia is yet to develop its own regulatory framework to cryptocurrency activities. In 2016, the Australian Attorney-General’s Department issued a Consultation Document stating that the government seek to start drafting legislative proposals to regulate crypto, hoping to finalize that legislation in 2018.\r\n\r\n<u>New Zealand</u> – NZ has not taken any concrete steps to regulate cryptocurrencies, and for the time being it only issued the typical warning to investors as to the risks related to trading in cryptocurrencies. Reportedly, several statements issued by local officials show a favorable attitude towards cryptocurrencies and the need to regulate these activities.\r\n\r\n<u>India</u> - the Reserve Bank has issued warnings to the public about the risks associated with cryptocurrencies and is reportedly examining the legal implications of cryptocurrencies activities under India’s existing legal framework.\r\n\r\n<u>Malaysia</u> - the Central Bank of Malaysia stated that cryptocurrencies are not legal tender, and that cryptocurrency activities are not regulated in Malaysia. Additionally the Central Bank advised the public of the risks involved in such activities.\r\n\r\n<u>Thailand</u> - the Central Bank has declared that a company which provides bitcoin exchange against the local currency (the baht) does not require a license of approval from the Central Bank, while bitcoin exchange against international currencies will require a license from the Central Bank.\r\n\r\n<u>South Korea</u> - while the official position is that cryptocurrencies are not legal tender, a new cryptocurrency task force has been launched in the country with the goal to introduce new regulations for exchanges involved in cryptocurrency transactions.\r\n\r\n<u>Indonesia</u> - cryptocurrencies are not considered legal tender, and the use of cryptocurrencies violates the country’s information and electronic transaction laws and currency laws.\r\n\r\n<u>Vietnam</u> - the State Bank of Vietnam recommends not investing, holding or transacting in cryptocurrencies due to potential risks of use for criminal purposes, lack of technical security and high vulnerability to hacking, price volatility, and lack of a central government authority for these activities. It also stated that cryptocurrencies are not money nor are they a form of legal payment in Vietnam.\r\n\r\nWe are expecting for the regulatory landscape of the cryptocurrency industry to change and develop further and will be updating our website, to reflect any significant changes related to regulatory matters of interest for the industry.\r\n\r\nPorat Group is one of the first law firms to have a dedicated team specializing on the cryptocurrency industry, as well as to offer legal services related to the regulation of cryptocurrency businesses and products. Therefore our lawyers are well equipped to handle regulation processes for these types of businesses in various jurisdictions, including several of the Asian and Oceanian ones.\r\n\r\nWe have also made a point of proving our commitment to the cryptocurrency industry by accepting payments in several cryptocurrencies (currently Bitcoin and ETH) for our legal services.\r\n\r\nAll business owners active in the cryptocurrency industry who are interested in knowing more about regulating their product or business or about the different options for regulating businesses and products in this field are welcome to <a href=\"/?page_id=520\">contact the Porat Group team</a> for a free and non-binding consultation to discuss this further.', 'Regulation of Cryptocurrencies in Asia and Oceania', '', 'inherit', 'closed', 'closed', '', '3333-revision-v1', '', '', '2021-01-13 20:12:28', '2021-01-13 17:12:28', '', 3333, 'https://www.porat.com/3333-revision-v1/', 0, 'revision', '', 0),
(3799, 6, '2021-01-14 08:40:46', '2021-01-14 05:40:46', 'Cryptocurrency regulation in Australia has come a long way in recent years, and <a href=\"/?p=3333\">since we first mentioned it here on our website</a>. Among other recent changes, cryptocurrency exchanges can now be licensed “Down Under”, but under the name Digital Currency Exchanges, a type of Digital Currency Business per the classification of the Australian regulator AUSTRAC.\r\n\r\nThe registration with AUSTRAC must be complete before any digital currency exchange services are being offered, as it is against the law to provide these services in the country without proper registration with the regulator.\r\n\r\nPorat Group has already assisted some of our clients obtain their licenses in Australia and is therefore well positioned to provide guidance and counsel for anyone interested in this regulatory process.\r\n<h2>Important to know about the AUSTRAC Digital Currency Exchange license</h2>\r\nIn order to be eligible for the license, a company must be registered in Australia and then with AUSTRAC. The business must additionally meet all AML/CTF compliance and reporting obligations set out by the Australian government. The obligations include identifying, mitigating and managing risks related to money laundering and terrorist funding and report any suspicious activities identified to AUSTRAC, as well as keeping all information related to the company up to date and renewing the registration every 3 years.\r\n<h2>Information required in order to apply for the license</h2>\r\nThe following information about the business and its key personnel is required by AUSTRAC in order for them to process an application for the digital currency exchange license:\r\n<ul>\r\n 	<li>What services the business provides;</li>\r\n 	<li>The company structure of the business in question;</li>\r\n 	<li>Contact details for the business;</li>\r\n 	<li>Names and contact details of the key personnel of the business, for example directors and officeholders;</li>\r\n 	<li>Financial statements (for the most recent financial year);</li>\r\n 	<li>Registration details for other countries, in cases where the business is also registered in another country;</li>\r\n 	<li>Criminal records and police documentation (such as a National Police Certificate) related to the business and its key personnel, no older than 6 months old at the time of application;</li>\r\n 	<li>Information about additional and existing accounts with AUSTRAC, when applicable. (New businesses can be added to the same account)</li>\r\n</ul>\r\nUpon reviewing the application AUSTRAC may contact the applicant and request additional information as needed.\r\n<h2>If this sounds suitable for your business</h2>\r\nIf you believe an AUSTRAC digital currency exchange license is a good option for your regulatory needs we recommend working with a professional legal and business consultant, such as Porat Group, in order to obtain it.\r\nPorat Group already has experience with assisting and doing the leg work for clients who needed this license in the past, and can therefore provide you with everything you need in order to facilitate the process.\r\n\r\nIf you are interested in comparing the AUSTRAC license to other similar licenses in other jurisdictions worldwide we also provide consultations and comparisons on the matter, as well as information about partners, such as banks and payment providers to work with in Australia, if needed.\r\n\r\n<a href=\"/?page_id=520\">Contact us</a> in order to get the process or comparison started today, or read more about the other services we provide for cryptocurrency businesses <a href=\"/?p=619\">here</a>.', 'Cryptocurrency exchange regulation in Australia', '', 'publish', 'open', 'open', '', 'cryptocurrency-exchange-regulation-in-australia', '', '', '2021-01-14 10:09:34', '2021-01-14 07:09:34', '', 0, 'https://www.porat.com/?p=3799', 0, 'post', '', 0),
(3800, 6, '2021-01-14 08:40:07', '2021-01-14 05:40:07', '', 'Australian Crypto Currency Exchange Regulation', '', 'inherit', 'open', 'closed', '', 'australian-flag', '', '', '2021-01-14 08:40:28', '2021-01-14 05:40:28', '', 3799, 'https://www.porat.com/wp-content/uploads/2021/01/Australian-flag.png', 0, 'attachment', 'image/png', 0),
(3801, 6, '2021-01-14 08:40:07', '2021-01-14 05:40:07', '', 'Australian flag', '', 'inherit', 'open', 'closed', '', 'australian-flag-2', '', '', '2021-01-14 08:40:28', '2021-01-14 05:40:28', '', 0, 'https://www.porat.com/wp-content/uploads/2021/01/Australian-flag.png', 0, 'attachment', 'image/png', 0),
(3802, 6, '2021-01-14 08:40:46', '2021-01-14 05:40:46', 'Cryptocurrency regulation in Australia has come a long way in recent years, and since we first mentioned it here on our website. Among other recent changes, cryptocurrency exchanges can now be licensed “Down Under”, but under the name Digital Currency Exchanges, a type of Digital Currency Business per the classification of the Australian regulator AUSTRAC.\r\n\r\nThe registration with AUSTRAC must be complete before any digital currency exchange services are being offered, as it is against the law to provide these services in the country without proper registration with the regulator.\r\n\r\nPorat Group has already assisted some of our clients obtain their licenses in Australia and is therefore well positioned to provide guidance and counsel for anyone interested in this regulatory process.\r\n<h2>Important to know about the AUSTRAC Digital Currency Exchange license</h2>\r\nIn order to be eligible for the license, a company must be registered in Australia and then with AUSTRAC. The business must additionally meet all AML/CTF compliance and reporting obligations set out by the Australian government. The obligations include identifying, mitigating and managing risks related to money laundering and terrorist funding and report any suspicious activities identified to AUSTRAC, as well as keeping all information related to the company up to date and renewing the registration every 3 years.\r\n<h2>Information required in order to apply for the license</h2>\r\nThe following information about the business and its key personnel is required by AUSTRAC in order for them to process an application for the digital currency exchange license:\r\n<ul>\r\n 	<li>What services the business provides;</li>\r\n 	<li>The company structure of the business in question;</li>\r\n 	<li>Contact details for the business;</li>\r\n 	<li>Names and contact details of the key personnel of the business, for example directors and officeholders;</li>\r\n 	<li>Financial statements (for the most recent financial year);</li>\r\n 	<li>Registration details for other countries, in cases where the business is also registered in another country;</li>\r\n 	<li>Criminal records and police documentation (such as a National Police Certificate) related to the business and its key personnel, no older than 6 months old at the time of application;</li>\r\n 	<li>Information about additional and existing accounts with AUSTRAC, when applicable. (New businesses can be added to the same account)</li>\r\n</ul>\r\nUpon reviewing the application AUSTRAC may contact the applicant and request additional information as needed.\r\n<h2>If this sounds suitable for your business</h2>\r\nIf you believe an AUSTRAC digital currency exchange license is a good option for your regulatory needs we recommend working with a professional legal and business consultant, such as Porat Group, in order to obtain it.\r\nPorat Group already has experience with assisting and doing the leg work for clients who needed this license in the past, and can therefore provide you with everything you need in order to facilitate the process.\r\n\r\nIf you are interested in comparing the AUSTRAC license to other similar licenses in other jurisdictions worldwide we also provide consultations and comparisons on the matter, as well as information about partners, such as banks and payment providers to work with in Australia, if needed.\r\n\r\nContact us in order to get the process or comparison started today, or read more about the other services we provide for cryptocurrency businesses here.', 'Cryptocurrency exchange regulation in Australia', '', 'inherit', 'closed', 'closed', '', '3799-revision-v1', '', '', '2021-01-14 08:40:46', '2021-01-14 05:40:46', '', 3799, 'https://www.porat.com/3799-revision-v1/', 0, 'revision', '', 0),
(3803, 6, '2021-01-14 08:41:57', '2021-01-14 05:41:57', 'Cryptocurrency regulation in Australia has come a long way in recent years, and <a href=\"https://www.porat.com/regulation-of-crypto-currencies-in-asia-and-oceania/\">since we first mentioned it here on our website</a>. Among other recent changes, cryptocurrency exchanges can now be licensed “Down Under”, but under the name Digital Currency Exchanges, a type of Digital Currency Business per the classification of the Australian regulator AUSTRAC.\n\nThe registration with AUSTRAC must be complete before any digital currency exchange services are being offered, as it is against the law to provide these services in the country without proper registration with the regulator.\n\nPorat Group has already assisted some of our clients obtain their licenses in Australia and is therefore well positioned to provide guidance and counsel for anyone interested in this regulatory process.\n<h2>Important to know about the AUSTRAC Digital Currency Exchange license</h2>\nIn order to be eligible for the license, a company must be registered in Australia and then with AUSTRAC. The business must additionally meet all AML/CTF compliance and reporting obligations set out by the Australian government. The obligations include identifying, mitigating and managing risks related to money laundering and terrorist funding and report any suspicious activities identified to AUSTRAC, as well as keeping all information related to the company up to date and renewing the registration every 3 years.\n<h2>Information required in order to apply for the license</h2>\nThe following information about the business and its key personnel is required by AUSTRAC in order for them to process an application for the digital currency exchange license:\n<ul>\n 	<li>What services the business provides;</li>\n 	<li>The company structure of the business in question;</li>\n 	<li>Contact details for the business;</li>\n 	<li>Names and contact details of the key personnel of the business, for example directors and officeholders;</li>\n 	<li>Financial statements (for the most recent financial year);</li>\n 	<li>Registration details for other countries, in cases where the business is also registered in another country;</li>\n 	<li>Criminal records and police documentation (such as a National Police Certificate) related to the business and its key personnel, no older than 6 months old at the time of application;</li>\n 	<li>Information about additional and existing accounts with AUSTRAC, when applicable. (New businesses can be added to the same account)</li>\n</ul>\nUpon reviewing the application AUSTRAC may contact the applicant and request additional information as needed.\n<h2>If this sounds suitable for your business</h2>\nIf you believe an AUSTRAC digital currency exchange license is a good option for your regulatory needs we recommend working with a professional legal and business consultant, such as Porat Group, in order to obtain it.\nPorat Group already has experience with assisting and doing the leg work for clients who needed this license in the past, and can therefore provide you with everything you need in order to facilitate the process.\n\nIf you are interested in comparing the AUSTRAC license to other similar licenses in other jurisdictions worldwide we also provide consultations and comparisons on the matter, as well as information about partners, such as banks and payment providers to work with in Australia, if needed.\n\n<a href=\"https://www.porat.com/contact/\">Contact us</a> in order to get the process or comparison started today, or read more about the other services we provide for cryptocurrency businesses <a href=\"https://www.porat.com/legal/blockchain-cryptocurrencies/\">here</a>.', 'Cryptocurrency exchange regulation in Australia', '', 'inherit', 'closed', 'closed', '', '3799-autosave-v1', '', '', '2021-01-14 08:41:57', '2021-01-14 05:41:57', '', 3799, 'https://www.porat.com/3799-autosave-v1/', 0, 'revision', '', 0),
(3804, 6, '2021-01-14 08:42:00', '2021-01-14 05:42:00', 'Cryptocurrency regulation in Australia has come a long way in recent years, and <a href=\"https://www.porat.com/regulation-of-crypto-currencies-in-asia-and-oceania/\">since we first mentioned it here on our website</a>. Among other recent changes, cryptocurrency exchanges can now be licensed “Down Under”, but under the name Digital Currency Exchanges, a type of Digital Currency Business per the classification of the Australian regulator AUSTRAC.\r\n\r\nThe registration with AUSTRAC must be complete before any digital currency exchange services are being offered, as it is against the law to provide these services in the country without proper registration with the regulator.\r\n\r\nPorat Group has already assisted some of our clients obtain their licenses in Australia and is therefore well positioned to provide guidance and counsel for anyone interested in this regulatory process.\r\n<h2>Important to know about the AUSTRAC Digital Currency Exchange license</h2>\r\nIn order to be eligible for the license, a company must be registered in Australia and then with AUSTRAC. The business must additionally meet all AML/CTF compliance and reporting obligations set out by the Australian government. The obligations include identifying, mitigating and managing risks related to money laundering and terrorist funding and report any suspicious activities identified to AUSTRAC, as well as keeping all information related to the company up to date and renewing the registration every 3 years.\r\n<h2>Information required in order to apply for the license</h2>\r\nThe following information about the business and its key personnel is required by AUSTRAC in order for them to process an application for the digital currency exchange license:\r\n<ul>\r\n 	<li>What services the business provides;</li>\r\n 	<li>The company structure of the business in question;</li>\r\n 	<li>Contact details for the business;</li>\r\n 	<li>Names and contact details of the key personnel of the business, for example directors and officeholders;</li>\r\n 	<li>Financial statements (for the most recent financial year);</li>\r\n 	<li>Registration details for other countries, in cases where the business is also registered in another country;</li>\r\n 	<li>Criminal records and police documentation (such as a National Police Certificate) related to the business and its key personnel, no older than 6 months old at the time of application;</li>\r\n 	<li>Information about additional and existing accounts with AUSTRAC, when applicable. (New businesses can be added to the same account)</li>\r\n</ul>\r\nUpon reviewing the application AUSTRAC may contact the applicant and request additional information as needed.\r\n<h2>If this sounds suitable for your business</h2>\r\nIf you believe an AUSTRAC digital currency exchange license is a good option for your regulatory needs we recommend working with a professional legal and business consultant, such as Porat Group, in order to obtain it.\r\nPorat Group already has experience with assisting and doing the leg work for clients who needed this license in the past, and can therefore provide you with everything you need in order to facilitate the process.\r\n\r\nIf you are interested in comparing the AUSTRAC license to other similar licenses in other jurisdictions worldwide we also provide consultations and comparisons on the matter, as well as information about partners, such as banks and payment providers to work with in Australia, if needed.\r\n\r\n<a href=\"https://www.porat.com/contact/\">Contact us</a> in order to get the process or comparison started today, or read more about the other services we provide for cryptocurrency businesses <a href=\"https://www.porat.com/legal/blockchain-cryptocurrencies/\">here</a>.', 'Cryptocurrency exchange regulation in Australia', '', 'inherit', 'closed', 'closed', '', '3799-revision-v1', '', '', '2021-01-14 08:42:00', '2021-01-14 05:42:00', '', 3799, 'https://www.porat.com/3799-revision-v1/', 0, 'revision', '', 0),
(3805, 6, '2021-01-14 09:53:40', '2021-01-14 06:53:40', 'Singapore has taken a more progressive and cryptocurrency friendly stance than most of its regional neighbors, that have in many cases banned cryptocurrency activities and businesses completely. In Singapore, however, both cryptocurrency exchanges and cryptocurrency trading is legal, and while cryptocurrencies (usually referred to as “digital tokens”) are not classified as a legal tender, the authorities see at least Bitcoin as a good, thus applying Goods and Services Tax (=the local version of VAT) to Bitcoin.\r\nAll this has contributed to Singapore becoming perhaps the most important cryptocurrency hub in Asia in recent years.\r\n<h2>Legislation relevant specifically to cryptocurrency exchanges in Singapore</h2>\r\nThe local Payment Services Act that regulates cryptocurrency exchanges (known in the city-state as digital payment token - DPT- service providers) came into effect in 2020 and also regulates traditional payment services.\r\nThe act places cryptocurrency exchanges with a “meaningful presence” in Singapore (meaning offices, directors etc.) under the oversight of the Monetary Authority of Singapore or MAS for short, the regulator issuing the relevant licenses, and also the country’s Central Bank.\r\n\r\nMAS has chosen to apply existing legal frameworks for cryptocurrency exchanges where possible but the Payment Services Act made it clear that all cryptocurrency businesses are required to obtain a license from the Monetary Authority of Singapore, as well as follow all regulations related to Anti Money Laundering and Counter Funding Terrorism measures. The regulator also has the right to ban individuals deemed as unsuitable from engaging in cryptocurrency businesses.\r\n\r\nThe Payment Services Act is not the only law that cryptocurrency exchanges must follow, additionally also the Financial Advisers Act, Insurance Act, Securities and Futures Act and the Trust Companies Act apply to these companies.\r\n<h2>The 3 different licenses that may be relevant for DPT service providers</h2>\r\n<ul>\r\n 	<li>DPT service providers can choose between the following 3 licenses, depending on the scope and activities of their business:\r\nMoney changer\r\nThis is suitable for companies only providing money-changing services.</li>\r\n 	<li>Standard payment institution\r\nRelevant for companies who have average monthly transactions of under $3 million, or $5 million in digital currencies per day.</li>\r\n 	<li>Major payment institution\r\nSuitable for bigger service providers, whose average monthly transactions per day exceed the above mentioned amounts. Requires a higher capital threshold than the other 2 licenses - $250,00, as well as a $100,000 security deposit.</li>\r\n</ul>\r\n<h2>Requirements for the licenses</h2>\r\nThose wishing to obtain a license for DTP services providers must fulfill the following requirements, no matter which license is chosen:\r\n<ul>\r\n 	<li>Have an office in Singapore.</li>\r\n 	<li>Commit to compliance with the FATF Recommendation 16’s “Crypto Travel Rule”</li>\r\n 	<li>Commit to compliance with comprehensive AML/CFT requirements that include record keeping, due diligence, Know Your Customer procedures, reporting suspicious transactions etc.</li>\r\n 	<li>Payment of annual fees.</li>\r\n 	<li>Reporting duties.</li>\r\n 	<li>A correct administrative structure, including a CEO, a chairperson and a board of directors.</li>\r\n</ul>\r\n<h2>Interested in finding out more?</h2>\r\nIf the above sounds like a good fit for your cryptocurrency exchange and/or you would like to compare Singapore as a jurisdiction with other jurisdictions that may be relevant for regulating your cryptocurrency exchange you are welcome to <a href=\"/?page_id=520\">contact us</a> for more information.\r\n\r\nWe also offer consulting services related to banking and payments in Singapore, as well as for other service providers you may need should you decide to register a company in the city-state and regulate your cryptocurrency exchange there.', 'Cryptocurrency exchange regulation in Singapore', '', 'publish', 'open', 'open', '', 'cryptocurrency-exchange-regulation-in-singapore', '', '', '2021-01-14 10:08:46', '2021-01-14 07:08:46', '', 0, 'https://www.porat.com/?p=3805', 0, 'post', '', 0),
(3806, 6, '2021-01-14 09:53:00', '2021-01-14 06:53:00', '', 'Singapore CryptoCurrency Exchange Regulation Flag', '', 'inherit', 'open', 'closed', '', 'singapore-flag', '', '', '2021-01-14 09:53:33', '2021-01-14 06:53:33', '', 3805, 'https://www.porat.com/wp-content/uploads/2021/01/Singapore-flag.png', 0, 'attachment', 'image/png', 0),
(3807, 6, '2021-01-14 09:53:00', '2021-01-14 06:53:00', '', 'Singapore flag', '', 'inherit', 'open', 'closed', '', 'singapore-flag-2', '', '', '2021-01-14 09:53:33', '2021-01-14 06:53:33', '', 0, 'https://www.porat.com/wp-content/uploads/2021/01/Singapore-flag.png', 0, 'attachment', 'image/png', 0),
(3808, 6, '2021-01-14 09:53:40', '2021-01-14 06:53:40', 'Singapore has taken a more progressive and cryptocurrency friendly stance than most of its regional neighbors, that have in many cases banned cryptocurrency activities and businesses completely. In Singapore, however, both cryptocurrency exchanges and cryptocurrency trading is legal, and while cryptocurrencies (usually referred to as “digital tokens”) are not classified as a legal tender, the authorities see at least Bitcoin as a good, thus applying Goods and Services Tax (=the local version of VAT) to Bitcoin.\r\nAll this has contributed to Singapore becoming perhaps the most important cryptocurrency hub in Asia in recent years.\r\n<h2>Legislation relevant specifically to cryptocurrency exchanges in Singapore</h2>\r\nThe local Payment Services Act that regulates cryptocurrency exchanges (known in the city-state as digital payment token - DPT- service providers) came into effect in 2020 and also regulates traditional payment services.\r\nThe act places cryptocurrency exchanges with a “meaningful presence” in Singapore (meaning offices, directors etc.) under the oversight of the Monetary Authority of Singapore or MAS for short, the regulator issuing the relevant licenses, and also the country’s Central Bank.\r\n\r\nMAS has chosen to apply existing legal frameworks for cryptocurrency exchanges where possible but the Payment Services Act made it clear that all cryptocurrency businesses are required to obtain a license from the Monetary Authority of Singapore, as well as follow all regulations related to Anti Money Laundering and Counter Funding Terrorism measures. The regulator also has the right to ban individuals deemed as unsuitable from engaging in cryptocurrency businesses.\r\n\r\nThe Payment Services Act is not the only law that cryptocurrency exchanges must follow, additionally also the Financial Advisers Act, Insurance Act, Securities and Futures Act and the Trust Companies Act apply to these companies.\r\n<h2>The 3 different licenses that may be relevant for DPT service providers</h2>\r\n<ul>\r\n 	<li>DPT service providers can choose between the following 3 licenses, depending on the scope and activities of their business:\r\nMoney changer\r\nThis is suitable for companies only providing money-changing services.</li>\r\n 	<li>Standard payment institution\r\nRelevant for companies who have average monthly transactions of under $3 million, or $5 million in digital currencies per day.</li>\r\n 	<li>Major payment institution\r\nSuitable for bigger service providers, whose average monthly transactions per day exceed the above mentioned amounts. Requires a higher capital threshold than the other 2 licenses - $250,00, as well as a $100,000 security deposit.</li>\r\n</ul>\r\n<h2>Requirements for the licenses</h2>\r\nThose wishing to obtain a license for DTP services providers must fulfill the following requirements, no matter which license is chosen:\r\n<ul>\r\n 	<li>Have an office in Singapore.</li>\r\n 	<li>Commit to compliance with the FATF Recommendation 16’s “Crypto Travel Rule”</li>\r\n 	<li>Commit to compliance with comprehensive AML/CFT requirements that include record keeping, due diligence, Know Your Customer procedures, reporting suspicious transactions etc.</li>\r\n 	<li>Payment of annual fees.</li>\r\n 	<li>Reporting duties.</li>\r\n 	<li>A correct administrative structure, including a CEO, a chairperson and a board of directors.</li>\r\n</ul>\r\n<h2>Interested in finding out more?</h2>\r\nIf the above sounds like a good fit for your cryptocurrency exchange and/or you would like to compare Singapore as a jurisdiction with other jurisdictions that may be relevant for regulating your cryptocurrency exchange you are welcome to <a href=\"https://www.porat.com/contact/\">contact us</a> for more information.\r\n\r\nWe also offer consulting services related to banking and payments in Singapore, as well as for other service providers you may need should you decide to register a company in the city-state and regulate your cryptocurrency exchange there.', 'Cryptocurrency exchange regulation in Singapore', '', 'inherit', 'closed', 'closed', '', '3805-revision-v1', '', '', '2021-01-14 09:53:40', '2021-01-14 06:53:40', '', 3805, 'https://www.porat.com/3805-revision-v1/', 0, 'revision', '', 0),
(3809, 6, '2021-01-14 10:07:42', '2021-01-14 07:07:42', 'Malta might not be the biggest country in terms of size but it has certainly positioned itself as a global leader when it comes to cryptocurrency regulations, aiming to become known as the ‘blockchain island” worldwide. One of the first countries in the entire world to regulate the cryptocurrency business, it is also a top choice for cryptocurrency exchanges wanting to be regulated in 2021, even if it has been criticized in the past for some regulatory unclarity, that now seems to have been clarified, however.\r\n\r\nThe financial regulator in charge of cryptocurrency exchanges in Malta is the Malta Financial Services Authority, or MFSA, and they have said that they “actively monitor” all license holders, something quite rare in the industry. However, the extent of this “active monitoring” is said to vary. The suitable license for cryptocurrency exchanges is called a VFA Class 4 license.\r\n<h2>Requirements for cryptocurrency exchanges aiming to be licensed in Malta</h2>\r\nIf a cryptocurrency exchange strives for regulation in Malta, the company must fulfill the following requirements:\r\n<ul>\r\n 	<li>Be headquartered or operated in Malta. (Meaning a physical presence on the island)</li>\r\n 	<li>Certain capital adequacy &amp; liquidity requirements, where amounts are dependant on the scope of operations etc.</li>\r\n 	<li>Appointment of a VFA Agent to serve as a point of contact between the regulator and the company for compliance matters.</li>\r\n 	<li>Proof of good faith.</li>\r\n 	<li>Proof of necessary technical resources and knowledge.</li>\r\n 	<li>All persons involved in the business must undertake a Fit and Proper test.</li>\r\n 	<li>At least 3 employees.</li>\r\n 	<li>Description of security procedures, how anti money laundering measures are taken, other relevant protocols etc.</li>\r\n 	<li>Abiding by Maltese Prevention of Money Laundering and Funding of Terrorism Regulations.</li>\r\n 	<li>Submitting annual external auditors’ reports to the authorities.</li>\r\n 	<li>Payment of application fee at the time of application (typically €24,000 for most cryptocurrency exchanges)</li>\r\n 	<li>Payment of annual supervisory fee.</li>\r\n</ul>\r\n<h2>Advantages of a Maltese cryptocurrency exchange license compared to other jurisdictions</h2>\r\nChoosing a Maltese cryptocurrency exchange license over other available similar licenses has many advantages, some of the most important among them are:\r\n<ul>\r\n 	<li>Malta being an EU member state.</li>\r\n 	<li>Prestigious license both in Europe and globally.</li>\r\n 	<li>Access to high level banks and payment providers.</li>\r\n 	<li>All documents and the entire application process can be done in English.</li>\r\n 	<li>Attractive Corporate Tax Regime.</li>\r\n</ul>\r\n<h2>How the regulatory process typically looks like if you do it through Porat Group</h2>\r\nPorat Group is one of the leading consulting services providers for the cryptocurrency industry and has a wide network of partners and contacts with regulators, including in Malta.\r\n\r\nIf you want to apply for a license in Malta for your cryptocurrency exchange business, we always recommend having a consultation with us to begin with. This gives you the opportunity to make sure that Malta is indeed the best option for your specific cryptocurrency exchange, based on all your circumstances, plans for the future and goals, by comparing Malta as a jurisdiction for cryptocurrency exchanges with other similar options.\r\n\r\nIf that is the case, we then discuss the process itself with you, giving you timelines and total costs etc.\r\n\r\nPorat Group then typically incorporates a local company in the country and then submits the license application to the MFSA. We then keep track of the status of the application and keep in touch with you about updates, requests etc.\r\n\r\nThe entire regulatory process typically takes up to a maximum of 6 months, and a decision is often made regarding the application within 60 days after the MFSA has received it, but this may vary depending on the circumstances in each case.\r\n\r\nOnce a company is regulated in Malta we also provide ongoing compliance and legal services as needed, and can also assist with setting up a local presence on the island, choosing payment providers and banks etc.\r\n\r\n<a href=\"/?page_id=520\">Contact us</a> if you are interested in getting this process started.', 'Cryptocurrency exchange regulation in Malta', '', 'publish', 'open', 'open', '', 'cryptocurrency-exchange-regulation-in-malta', '', '', '2021-01-14 10:07:42', '2021-01-14 07:07:42', '', 0, 'https://www.porat.com/?p=3809', 0, 'post', '', 0),
(3810, 6, '2021-01-14 10:06:49', '2021-01-14 07:06:49', '', 'Cryptocurrency exchange regulation Malta flag', '', 'inherit', 'open', 'closed', '', 'flagmalta', '', '', '2021-01-14 10:07:28', '2021-01-14 07:07:28', '', 3809, 'https://www.porat.com/wp-content/uploads/2021/01/FlagMalta.png', 0, 'attachment', 'image/png', 0);
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(3811, 6, '2021-01-14 10:06:49', '2021-01-14 07:06:49', '', 'FlagMalta', '', 'inherit', 'open', 'closed', '', 'flagmalta-2', '', '', '2021-01-14 10:07:28', '2021-01-14 07:07:28', '', 0, 'https://www.porat.com/wp-content/uploads/2021/01/FlagMalta.png', 0, 'attachment', 'image/png', 0),
(3812, 6, '2021-01-14 10:07:42', '2021-01-14 07:07:42', 'Malta might not be the biggest country in terms of size but it has certainly positioned itself as a global leader when it comes to cryptocurrency regulations, aiming to become known as the ‘blockchain island” worldwide. One of the first countries in the entire world to regulate the cryptocurrency business, it is also a top choice for cryptocurrency exchanges wanting to be regulated in 2021, even if it has been criticized in the past for some regulatory unclarity, that now seems to have been clarified, however.\r\n\r\nThe financial regulator in charge of cryptocurrency exchanges in Malta is the Malta Financial Services Authority, or MFSA, and they have said that they “actively monitor” all license holders, something quite rare in the industry. However, the extent of this “active monitoring” is said to vary. The suitable license for cryptocurrency exchanges is called a VFA Class 4 license.\r\n<h2>Requirements for cryptocurrency exchanges aiming to be licensed in Malta</h2>\r\nIf a cryptocurrency exchange strives for regulation in Malta, the company must fulfill the following requirements:\r\n<ul>\r\n 	<li>Be headquartered or operated in Malta. (Meaning a physical presence on the island)</li>\r\n 	<li>Certain capital adequacy &amp; liquidity requirements, where amounts are dependant on the scope of operations etc.</li>\r\n 	<li>Appointment of a VFA Agent to serve as a point of contact between the regulator and the company for compliance matters.</li>\r\n 	<li>Proof of good faith.</li>\r\n 	<li>Proof of necessary technical resources and knowledge.</li>\r\n 	<li>All persons involved in the business must undertake a Fit and Proper test.</li>\r\n 	<li>At least 3 employees.</li>\r\n 	<li>Description of security procedures, how anti money laundering measures are taken, other relevant protocols etc.</li>\r\n 	<li>Abiding by Maltese Prevention of Money Laundering and Funding of Terrorism Regulations.</li>\r\n 	<li>Submitting annual external auditors’ reports to the authorities.</li>\r\n 	<li>Payment of application fee at the time of application (typically €24,000 for most cryptocurrency exchanges)</li>\r\n 	<li>Payment of annual supervisory fee.</li>\r\n</ul>\r\n<h2>Advantages of a Maltese cryptocurrency exchange license compared to other jurisdictions</h2>\r\nChoosing a Maltese cryptocurrency exchange license over other available similar licenses has many advantages, some of the most important among them are:\r\n<ul>\r\n 	<li>Malta being an EU member state.</li>\r\n 	<li>Prestigious license both in Europe and globally.</li>\r\n 	<li>Access to high level banks and payment providers.</li>\r\n 	<li>All documents and the entire application process can be done in English.</li>\r\n 	<li>Attractive Corporate Tax Regime.</li>\r\n</ul>\r\n<h2>How the regulatory process typically looks like if you do it through Porat Group</h2>\r\nPorat Group is one of the leading consulting services providers for the cryptocurrency industry and has a wide network of partners and contacts with regulators, including in Malta.\r\n\r\nIf you want to apply for a license in Malta for your cryptocurrency exchange business, we always recommend having a consultation with us to begin with. This gives you the opportunity to make sure that Malta is indeed the best option for your specific cryptocurrency exchange, based on all your circumstances, plans for the future and goals, by comparing Malta as a jurisdiction for cryptocurrency exchanges with other similar options.\r\n\r\nIf that is the case, we then discuss the process itself with you, giving you timelines and total costs etc.\r\n\r\nPorat Group then typically incorporates a local company in the country and then submits the license application to the MFSA. We then keep track of the status of the application and keep in touch with you about updates, requests etc.\r\n\r\nThe entire regulatory process typically takes up to a maximum of 6 months, and a decision is often made regarding the application within 60 days after the MFSA has received it, but this may vary depending on the circumstances in each case.\r\n\r\nOnce a company is regulated in Malta we also provide ongoing compliance and legal services as needed, and can also assist with setting up a local presence on the island, choosing payment providers and banks etc.\r\n\r\n<a href=\"https://www.porat.com/contact/\">Contact us</a> if you are interested in getting this process started.', 'Cryptocurrency exchange regulation in Malta', '', 'inherit', 'closed', 'closed', '', '3809-revision-v1', '', '', '2021-01-14 10:07:42', '2021-01-14 07:07:42', '', 3809, 'https://www.porat.com/3809-revision-v1/', 0, 'revision', '', 0),
(3813, 6, '2021-01-14 10:08:46', '2021-01-14 07:08:46', 'Singapore has taken a more progressive and cryptocurrency friendly stance than most of its regional neighbors, that have in many cases banned cryptocurrency activities and businesses completely. In Singapore, however, both cryptocurrency exchanges and cryptocurrency trading is legal, and while cryptocurrencies (usually referred to as “digital tokens”) are not classified as a legal tender, the authorities see at least Bitcoin as a good, thus applying Goods and Services Tax (=the local version of VAT) to Bitcoin.\r\nAll this has contributed to Singapore becoming perhaps the most important cryptocurrency hub in Asia in recent years.\r\n<h2>Legislation relevant specifically to cryptocurrency exchanges in Singapore</h2>\r\nThe local Payment Services Act that regulates cryptocurrency exchanges (known in the city-state as digital payment token - DPT- service providers) came into effect in 2020 and also regulates traditional payment services.\r\nThe act places cryptocurrency exchanges with a “meaningful presence” in Singapore (meaning offices, directors etc.) under the oversight of the Monetary Authority of Singapore or MAS for short, the regulator issuing the relevant licenses, and also the country’s Central Bank.\r\n\r\nMAS has chosen to apply existing legal frameworks for cryptocurrency exchanges where possible but the Payment Services Act made it clear that all cryptocurrency businesses are required to obtain a license from the Monetary Authority of Singapore, as well as follow all regulations related to Anti Money Laundering and Counter Funding Terrorism measures. The regulator also has the right to ban individuals deemed as unsuitable from engaging in cryptocurrency businesses.\r\n\r\nThe Payment Services Act is not the only law that cryptocurrency exchanges must follow, additionally also the Financial Advisers Act, Insurance Act, Securities and Futures Act and the Trust Companies Act apply to these companies.\r\n<h2>The 3 different licenses that may be relevant for DPT service providers</h2>\r\n<ul>\r\n 	<li>DPT service providers can choose between the following 3 licenses, depending on the scope and activities of their business:\r\nMoney changer\r\nThis is suitable for companies only providing money-changing services.</li>\r\n 	<li>Standard payment institution\r\nRelevant for companies who have average monthly transactions of under $3 million, or $5 million in digital currencies per day.</li>\r\n 	<li>Major payment institution\r\nSuitable for bigger service providers, whose average monthly transactions per day exceed the above mentioned amounts. Requires a higher capital threshold than the other 2 licenses - $250,00, as well as a $100,000 security deposit.</li>\r\n</ul>\r\n<h2>Requirements for the licenses</h2>\r\nThose wishing to obtain a license for DTP services providers must fulfill the following requirements, no matter which license is chosen:\r\n<ul>\r\n 	<li>Have an office in Singapore.</li>\r\n 	<li>Commit to compliance with the FATF Recommendation 16’s “Crypto Travel Rule”</li>\r\n 	<li>Commit to compliance with comprehensive AML/CFT requirements that include record keeping, due diligence, Know Your Customer procedures, reporting suspicious transactions etc.</li>\r\n 	<li>Payment of annual fees.</li>\r\n 	<li>Reporting duties.</li>\r\n 	<li>A correct administrative structure, including a CEO, a chairperson and a board of directors.</li>\r\n</ul>\r\n<h2>Interested in finding out more?</h2>\r\nIf the above sounds like a good fit for your cryptocurrency exchange and/or you would like to compare Singapore as a jurisdiction with other jurisdictions that may be relevant for regulating your cryptocurrency exchange you are welcome to <a href=\"/?page_id=520\">contact us</a> for more information.\r\n\r\nWe also offer consulting services related to banking and payments in Singapore, as well as for other service providers you may need should you decide to register a company in the city-state and regulate your cryptocurrency exchange there.', 'Cryptocurrency exchange regulation in Singapore', '', 'inherit', 'closed', 'closed', '', '3805-revision-v1', '', '', '2021-01-14 10:08:46', '2021-01-14 07:08:46', '', 3805, 'https://www.porat.com/3805-revision-v1/', 0, 'revision', '', 0),
(3814, 6, '2021-01-14 10:09:34', '2021-01-14 07:09:34', 'Cryptocurrency regulation in Australia has come a long way in recent years, and <a href=\"/?p=3333\">since we first mentioned it here on our website</a>. Among other recent changes, cryptocurrency exchanges can now be licensed “Down Under”, but under the name Digital Currency Exchanges, a type of Digital Currency Business per the classification of the Australian regulator AUSTRAC.\r\n\r\nThe registration with AUSTRAC must be complete before any digital currency exchange services are being offered, as it is against the law to provide these services in the country without proper registration with the regulator.\r\n\r\nPorat Group has already assisted some of our clients obtain their licenses in Australia and is therefore well positioned to provide guidance and counsel for anyone interested in this regulatory process.\r\n<h2>Important to know about the AUSTRAC Digital Currency Exchange license</h2>\r\nIn order to be eligible for the license, a company must be registered in Australia and then with AUSTRAC. The business must additionally meet all AML/CTF compliance and reporting obligations set out by the Australian government. The obligations include identifying, mitigating and managing risks related to money laundering and terrorist funding and report any suspicious activities identified to AUSTRAC, as well as keeping all information related to the company up to date and renewing the registration every 3 years.\r\n<h2>Information required in order to apply for the license</h2>\r\nThe following information about the business and its key personnel is required by AUSTRAC in order for them to process an application for the digital currency exchange license:\r\n<ul>\r\n 	<li>What services the business provides;</li>\r\n 	<li>The company structure of the business in question;</li>\r\n 	<li>Contact details for the business;</li>\r\n 	<li>Names and contact details of the key personnel of the business, for example directors and officeholders;</li>\r\n 	<li>Financial statements (for the most recent financial year);</li>\r\n 	<li>Registration details for other countries, in cases where the business is also registered in another country;</li>\r\n 	<li>Criminal records and police documentation (such as a National Police Certificate) related to the business and its key personnel, no older than 6 months old at the time of application;</li>\r\n 	<li>Information about additional and existing accounts with AUSTRAC, when applicable. (New businesses can be added to the same account)</li>\r\n</ul>\r\nUpon reviewing the application AUSTRAC may contact the applicant and request additional information as needed.\r\n<h2>If this sounds suitable for your business</h2>\r\nIf you believe an AUSTRAC digital currency exchange license is a good option for your regulatory needs we recommend working with a professional legal and business consultant, such as Porat Group, in order to obtain it.\r\nPorat Group already has experience with assisting and doing the leg work for clients who needed this license in the past, and can therefore provide you with everything you need in order to facilitate the process.\r\n\r\nIf you are interested in comparing the AUSTRAC license to other similar licenses in other jurisdictions worldwide we also provide consultations and comparisons on the matter, as well as information about partners, such as banks and payment providers to work with in Australia, if needed.\r\n\r\n<a href=\"/?page_id=520\">Contact us</a> in order to get the process or comparison started today, or read more about the other services we provide for cryptocurrency businesses <a href=\"/?p=619\">here</a>.', 'Cryptocurrency exchange regulation in Australia', '', 'inherit', 'closed', 'closed', '', '3799-revision-v1', '', '', '2021-01-14 10:09:34', '2021-01-14 07:09:34', '', 3799, 'https://www.porat.com/3799-revision-v1/', 0, 'revision', '', 0),
(3815, 6, '2021-01-14 10:10:12', '2021-01-14 07:10:12', 'When Estonia introduced a license specifically for cryptocurrency exchanges in November 2017 it was groundbreaking, and Estonian cryptocurrency licenses, issued by the Estonian Financial Intelligence Unit or FIU for short, continue to be sought after, since the government is extremely supportive of the cryptocurrency industry in general, allowing many companies within the industry to really thrive and for truly innovative thinking.\r\n\r\nPorat Group has extensive experience with these licenses, <strong>having assisted over 50 companies successfully obtain FIU cryptocurrency exchange licenses so far</strong>, making us a top choice for companies interested in these licenses and the regulatory process in Estonia.\r\n\r\nUntil recently 2 different financial licenses were required for those wanting to operate a licensed cryptocurrency exchange in Estonia, the Virtual Currency Exchange Service License, and the Virtual Currency Wallet Service License but in 2020 the two separate licenses were united into one single license, simplifying the regulation process.\r\n<h2>Important information for anyone interested in an Estonian cryptocurrency exchange license</h2>\r\nThe most important thing to know if you are interested in regulating your cryptocurrency exchange business in Estonia is that you will be required to open a local branch of a foreign company or a company in Estonia to do so, and the center of management of the business in question is required to be in Estonia.\r\n\r\nThe company must have at least one shareholder and one director (can be the same person and these can be non-residents of Estonia, however one of the board members must be the company’s representative in Estonia). All board members and AML (Anti Money Laundering) officers must fit the \"Fit and Proper\" criteria of the FIU in terms of having adequate knowledge of AML regulation.\r\n\r\nDuring the regulatory process, the FIU is allowed to invite the AML officer to a personal meeting if needed. During this meeting, the purpose is to confirm that the AML officer indeed has the necessary knowledge of AML rules and Estonian laws required. If the officer is called to such a meeting by the FIU, the officer has a 60 day period to show up to the meeting.\r\n\r\nThe minimum share capital requirement is 12 000 euros (cannot be denominated in cryptocurrencies) and the new application fee for each application is 3300 euros.\r\n<h2>Why choose an Estonian cryptocurrency exchange license over other options?</h2>\r\nBesides Estonia being a true pioneer in the cryptocurrency and Fintech industries, some other advantages of this jurisdiction are:\r\n<ul>\r\n 	<li>The licensing fees are attractive compared to many other jurisdictions, even after the increased application fee that was introduced in 2020.</li>\r\n 	<li>The entire regulatory process also takes less time than in other jurisdictions, where the process can take months or even years. In Estonia, the process generally takes weeks. The regulator officially has 60 days to make a decision, which can be extended to 120 days if needed, according to the instructions for the regulatory process.</li>\r\n 	<li>The regulatory process is simple and straightforward in general.</li>\r\n 	<li>Experienced regulators and partners, such as banks, who have dealt with foreign investors and business people in the past, due to the large amounts of investors who have already flocked to the country following the innovative legislation the country offers.</li>\r\n 	<li>Corporate tax exemption on reinvested profits.</li>\r\n 	<li>Low dividend tax on dividends paid to legal entities.</li>\r\n 	<li>Possibility of an e-residency card that gives the holder access to various government services.</li>\r\n 	<li>Access to EU bank accounts.</li>\r\n</ul>\r\n<h2>Documents needed in order to apply for an Estonian cryptocurrency exchange license</h2>\r\nIn order to obtain the Estonian cryptocurrency exchange license the following documents must be submitted to the Estonian Financial Intelligence Unit (FIU):\r\n<ul>\r\n 	<li style=\"list-style-type: none;\">\r\n<ul>\r\n 	<li>Criminal record for all persons involved in the company (such as share holders, directors, board members, owners);</li>\r\n 	<li>Copies of the ID of all the persons mentioned above (passport);</li>\r\n 	<li>A complete application.</li>\r\n</ul>\r\n</li>\r\n</ul>\r\nThe documents can be submitted in either English or Russian, and each document must be certified with an apostille that can not be older than max. 3 months.\r\n\r\nThe regulator may also request additional information as needed, such as CVs for the involved persons, business plans etc.\r\n<h2>Interested?</h2>\r\nIf the above sounds suitable for your cryptocurrency exchange and you think an Estonian license might be a good option for you, the lawyers at Porat Group would be happy to tell you more about it, as well as explain how an Estonian cryptocurrency exchange license compares to other similar licenses.\r\n\r\nNaturally we can also take a hands on approach to the entire regulatory process if you decide to apply, as we have with over 50 companies who have already obtained the license successfully through us.\r\n\r\nWe are also able assist with introductory services to banks, payment providers and other service providers as needed.', 'Estonian Licensed Cryptocurrency Exchanges', '', 'inherit', 'closed', 'closed', '', '2554-revision-v1', '', '', '2021-01-14 10:10:12', '2021-01-14 07:10:12', '', 2554, 'https://www.porat.com/2554-revision-v1/', 0, 'revision', '', 0),
(3816, 6, '2021-01-14 10:10:47', '2021-01-14 07:10:47', 'While Switzerland may not strike everyone as a very progressive country on all counts, when it comes to cryptocurrency regulation Switzerland has definitely taken a very progressive stance compared to most countries. That is good for the industry as a whole, because Bitcoin and cryptocurrencies used to have a slightly bad reputation in some circles, and were associated by some with money laundering, crime etc.\r\n\r\nHowever, a jurisdiction does not get more respectable than Switzerland, so the fact that such a well known financial hub takes a stance for cryptocurrencies and bringing them into the mainstream is likely to have a positive effect on the industry in general.\r\n\r\nThe regulatory changes in the country, sometimes even called the “Crypto Nation” due to the extent of its favorable view on cryptocurrency consist both of updating several existing laws, as well as passing new laws touching upon the phenomenon. The plans for the future are even bigger, and Heinz Tännler, President of the Swiss Blockchain Federation, has predicted that in 2021, Switzerland will have the most extensive blockchain and cryptocurrency legislation in the entire world.\r\n\r\nAnyone looking to regulate a cryptocurrency exchange would therefore do well by considering licensing in Switzerland, where the regulatory certainty is already high, and where the future looks even brighter. Many of the leading companies in the industry are also based in Switzerland and it’s “CryptoValley” Zug (where, among other things, the first Bitcoin ATM was installed as early as 2014 and where municipal fees can be paid in Bitcoin since 2016), such as Facebook’s Libra Association and Ethereum.\r\n\r\nDue to the recent changes, legal standards for cryptocurrency exchanges have been set, and even many banks in the country have started viewing cryptocurrency businesses more favorably.\r\n<h2>About regulation of cryptocurrencies in Switzerland</h2>\r\nThe financial regulator in Switzerland is the Swiss Financial Market Supervisory Authority, or FINMA, and all cryptocurrency exchanges must naturally obtain a license from them in order to regulate their operations in the country, as well as be registered as either a Swiss AG (Public limited company) or GMBH (Limited liability company) company.\r\n\r\nThe regulatory process generally takes between 4 to 6 months.\r\n<h2>Requirements for those wishing to obtain a license for a cryptocurrency exchange in Switzerland</h2>\r\nCompanies interested in obtaining a license for their cryptocurrency exchange in Switzerland must fulfill the following requirements:\r\n<ul>\r\n 	<li style=\"list-style-type: none;\">\r\n<ul>\r\n 	<li>Registered as a company in Switzerland. The cost of incorporating a GMBH is 5000 CHF (which includes a bank account), and the minimum share capital is 20,000 CHF. In this case the shareholder is listed in a public commercial registry, while a higher minimum share capital of 100,000 CHF is required for a public limited company (AG) where the shareholder can remain anonymous. The company must have at least one shareholder and one director.</li>\r\n 	<li>Have an appropriate organizational structure.</li>\r\n 	<li>Compliance with Anti Money Laundering Act (AMLA) requirements.</li>\r\n 	<li>Good reputation for both the organization and those responsible for it.</li>\r\n 	<li>Ability to assure proper business conduct.</li>\r\n 	<li>Ability to keep track of transactions, identify and report anything suspicious.</li>\r\n</ul>\r\n</li>\r\n</ul>\r\n<h2>The two different licenses relevant to cryptocurrency exchanges</h2>\r\nCryptocurrency exchanges have two different licenses to choose from: a Fintech License and a Banking License. The Banking License allows for unlimited public deposits, but also requires a minimum capital of 10 million CHF, while a Fintech License allows for public deposits up to 100 million CHF, but the minimum capital required is lower. The rule is that licensees must at all times maintain capital amounting to 3% of the deposits made by clients, but in any case, not less than CHF 300,000.\r\n\r\nFor this reason, the Fintech license is the most relevant license for most of Porat Group’s clients.\r\n<h2>Additional information about the Fintech License</h2>\r\nThe Fintech License allows the holder to both store and trade virtual currencies. The actual management, as well as the domicile, of the company, must be located in Switzerland. Cooperatives are not eligible as Fintech license holders, but the companies must be organized either as a company limited by shares, a partnership limited by shares or a limited liability company.\r\n<h2>Documents required in order to apply for the Fintech License</h2>\r\nThe following documents are required for those who wish to apply for the Fintech License in Switzerland:\r\n<ul>\r\n 	<li>Copies of identification documents; (passports, for at least the shareholder and director)</li>\r\n 	<li>Copies of Swiss residence permits for foreign individuals;</li>\r\n 	<li>Signed and dated CVs;</li>\r\n 	<li>Copies of diplomas and other professional references/documents;</li>\r\n 	<li>Swiss criminal record extract;</li>\r\n 	<li>Criminal record extracts from the previous country of residence for foreign individuals if they have lived in Switzerland for less than 5 years;</li>\r\n 	<li>Extracts from the debt enforcement register;</li>\r\n 	<li>Declarations with regards to concluded and pending legal proceedings;</li>\r\n 	<li>Supporting documentation describing the internal organization as well as the business activity of the applicant, such as:\r\n- Business plan including a budget for the next financial 3 years, with a plan for both realistic, optimistic and pessimistic scenarios;\r\n- Detailed description of how public deposits are held;\r\n- Details of information for clients pursuant to Article 7a of the Banking Ordinance;\r\n- Descriptions of any conflict of interest as well as the related measures pursuant to Article 14g of the Banking Ordinance.</li>\r\n</ul>\r\n<strong>Why Switzerland and not another jurisdiction if you are looking to regulate your cryptocurrency exchange?</strong>\r\n\r\nSwitzerland has many advantages compared to most, if not all, other jurisdictions that may be relevant for those looking to regulate a cryptocurrency exchange. Some of those advantages, such as Switzerland being a true pioneer when it comes to the business in general, as well as to cryptocurrency regulation in particular, were already mentioned in the beginning of this post, but we’d also like to add the following advantages:\r\n<ul>\r\n 	<li>Unlike in many other countries, the relevant authorities, such as the FINMA and SBA, in Switzerland are very approachable and encourage personal contacts with them, if you are a regulated company in the country.</li>\r\n 	<li>Attractive corporate tax rates.</li>\r\n 	<li>Low taxes in several cantons, including in Zug, the center of the cryptocurrency industry.</li>\r\n 	<li>Possibilities to be exempted from dividend tax.</li>\r\n 	<li>The most relevant and high quality talent pool for the industry can be found in the country.</li>\r\n 	<li>Stable economy and political environment.</li>\r\n</ul>\r\n<h2>Sound good?</h2>\r\nIf you are interested in finding out more about the cryptocurrency regulation requirements in Switzerland, compliance with the rules and regulations there and/or want to start the regulatory process in the country, <a href=\"/?page_id=520\">contact us</a> in order to set up a consultation on the matter.', 'Cryptocurrency exchange regulation in Switzerland', '', 'inherit', 'closed', 'closed', '', '3785-revision-v1', '', '', '2021-01-14 10:10:47', '2021-01-14 07:10:47', '', 3785, 'https://www.porat.com/3785-revision-v1/', 0, 'revision', '', 0),
(3817, 6, '2021-01-14 10:11:18', '2021-01-14 07:11:18', '2020 has been challenging in many aspects, but hard work and perseverance eventually bring results even in challenging times. That is why we are proud to announce that we have assisted with obtaining not one but two licenses in Mauritius for our clients. The licenses, granted by the Mauritius Financial Services Commission, are entitled \"Investment Dealer (Full Service Dealer, excluding Underwriting) and they allow the holder to act as a broker and a market maker.\r\n\r\nWe thank our clients for trusting us to lead them to this successful outcome and look forward to assist them and others in setting up and licensing their businesses in whatever jurisdiction suits them best. Following the receipt of the licenses, we will continue to support our licensed companies regarding all their legal, regulatory, payments, and various business related needs.\r\n\r\nIf you are interested in hearing more about the Mauritius Investment Dealer licenses, or would like assistance applying for one of these licenses for your company, <a href=\"/?page_id=520\">contact us</a> for a consultation on how to best proceed.', 'Investment Dealer licenses issued in Mauritius', '', 'inherit', 'closed', 'closed', '', '3771-revision-v1', '', '', '2021-01-14 10:11:18', '2021-01-14 07:11:18', '', 3771, 'https://www.porat.com/3771-revision-v1/', 0, 'revision', '', 0),
(3818, 6, '2021-01-14 10:20:32', '2021-01-14 07:20:32', 'Cryptocurrencies, and in some cases their incredible rollercoaster value fluctuations, have featured heavily in most major news outlets and have been debated a great deal in recent years. The regulation of cryptocurrencies did not keep quite the same pace for many years, but in recent years the regulating initiatives all over the world have become more frequent, and today even some of the most attractive financial jurisdictions in the world , as well as several smaller jurisdictions, have cryptocurrency regulations in place, making cryptocurrencies both safer and more respectable as a result.\r\n\r\nWhile the approaches vary, some jurisdictions having chosen to simply update their laws or issuing notices or guidelines to their licensees as well as the public, and others passing completely new laws, there are more options for those wanting to regulate a cryptocurrency business than many would believe at first glance.\r\n\r\nPorat Group has several lawyers with significant experience with cryptocurrency regulation, in various jurisdictions, and is therefore well equipped to guide those interested in cryptocurrency licensing, both when it comes to taking a hands on approach to every step in the regulatory process, as well as to choosing the best suited jurisdiction for each client.\r\n\r\nWhile we always recommend a personal consultation in order to understand each client’s needs fully before we recommend a specific jurisdiction, below you will find a list of the jurisdictions that are currently the main options for those looking to regulate their business within the cryptocurrency industry.\r\n<h2>Examples of various jurisdictions and their approach to cryptocurrencies</h2>\r\n<a href=\"/?p=2554\"><strong>Estonia</strong></a> - one of the first jurisdictions in the world to regulate cryptocurrency exchanges specifically over 3 years ago. The country really stands out when it comes to innovative thinking as it is one of few EU member states facilitating cryptocurrency regulation.\r\n\r\nObtaining the license needed to operate as a licensed cryptocurrency exchange in the country previously required obtaining 2 different financial licenses: the Virtual Currency Exchange Service License, and the Virtual Currency Wallet Service License, but these two licenses were recently united into one. License holders are also required to open an Estonian branch of a foreign company, and the center of management of the business is required to be in Estonia. Regulated companies must also follow strict reporting and following strict KYC (Know Your Customer) rules etc.\r\n\r\nIt is important to note, however, that cryptocurrencies aren’t considered legal tender in Estonia (just like in the UK, for example) but exchanges dealing with cryptocurrencies that follow all the requirements set out by the regulator are deemed legitimate. Crypto to crypto exchanges were also recently approved for regulation.\r\n\r\nWhen it comes to future regulation Estonia is also widely seen as the most promising candidate worldwide by many, as the country presumably had plans to introduce a national cryptocurrency (the “Estcoin”) in the past. While this plan is currently on hold many speculate that the Estonian government may think of other similarly innovative ideas in the future.\r\n\r\n<a href=\"/?p=3799\"><strong>Australia</strong></a> - another interesting jurisdiction due to the new crypto exchange regulation under AUSTRAC. The country made the decision that the trade of cryptocurrencies (as well as other digital assets) could be regulated and included in Australia\'s existing financial services regulatory regime, making it one of the most progressive countries in the world when it comes to cryptocurrency regulation.\r\n\r\nBoth cryptocurrencies (subjected to Capital Gains Tax) and cryptocurrency exchanges (called Digital Currency Businesses) are legal in the country, and those wishing to operate an Australian licensed cryptocurrency exchange need to operate from the country, identify and verify all users and clients, report all needed information to the authorities and keep records.\r\n\r\n<strong>Japan</strong> - a country that started regulating cryptocurrencies as early as 2017 (in the amended Payment Services Act, which was amended again in 2019) which is impressively early by all comparisons.\r\n\r\nThe country is often said to have the most progressive cryptocurrency regulation as a whole in the entire world, as both cryptocurrencies and cryptocurrency exchanges are legal in the country, as long as the exchange is registered as a Crypto Asset Exchange Service Provider with the Japanese Financial Services Agency.\r\n\r\nThe regulatory process is strict and can take as much as 6 months, and regulated Crypto Asset Exchange Service Providers must keep records, have customer due diligence procedures and security measures in place, follow anti-money laundering and counter-terrorism funding rules and regulations and hold at least 10 million yen in capital.\r\n\r\nInterestingly enough, it should also be mentioned that by Japanese law it is a punishable offense to spread false rumors about a cryptocurrency.\r\n\r\nJapan is expected to continue holding its place as the most innovative place for cryptocurrency regulation, so we are sure many are following the related news from Japan all over the world.\r\n\r\n<a href=\"/?p=3805\"><strong>Singapore</strong></a> - a country that did not start regulating cryptocurrencies as early as some of the other jurisdictions mentioned in this list, but better late than never!\r\n\r\nSince 2020 the Monetary Authority of Singapore, or MAS, which is both Singapore’s national bank as well as the financial regulator in the country, has issued licenses for cryptocurrency businesses, and also has the authority to ban unsuitable individuals and companies from operating cryptocurrency businesses in the country.\r\n\r\nRegulated cryptocurrency businesses in the country are called virtual asset service providers, or VASPs, and must have a “meaningful presence” in Singapore to be able to be licensed, as well as comply with the Securities and Futures Act (SFA), pay annual fees, fulfill reporting duties and record transactions, safeguard users’ information and comply with anti-money laundering regulations.\r\n\r\n<a href=\"/?p=3809\"><strong>Malta</strong></a> - given that Malta is one of the leading jurisdictions for online gaming regulation worldwide it is interesting that they have also opted to regulate cryptocurrency businesses.\r\n\r\nWill Malta become a cryptocurrency regulation powerhouse and trailblazer, as it has been in the gaming sector, for the cryptocurrency industry as well? Only time will tell but what is for sure is that the country already provides an interesting alternative for cryptocurrency companies looking to regulate their activities.\r\n\r\nCryptocurrency exchanges are legal in the country, and a regulatory framework for cryptocurrencies exists, consisting of 3 separate bills that were signed into law in 2018: The Malta Digital Innovation Authority Bill, The Technology Arrangements and Services Bill and the Virtual Financial Assets Bill. All these laws apply to crypto exchanges, brokers, wallet providers, advisers, and asset managers alike.\r\n\r\nVarious stakeholders and authorities have additionally issued guidelines relevant to the industry to further assist with the implementation of these laws. It is therefore often said that the Maltese legislation for cryptocurrencies is more complex than the legislation in most other jurisdictions that have regulated these activities. The legislation has therefore been criticized by some who hope for it to be simplified, and many point out that very few licenses for the industry have actually been issued. While the legislation looks interesting on the outside, it may therefore be a less attractive option for many in actuality.\r\n\r\n<a href=\"/?p=3785\"><strong>Switzerland</strong> </a>- given that Switzerland has been an important financial hub for decades, if not centuries, it is not surprising that it has also chosen to be on the forefront of new financial developments, including cryptocurrencies. Due to that, both cryptocurrencies as such (considered assets and therefore subject to the Swiss Wealth tax) and cryptocurrency exchanges are legal in Switzerland, as long as they obtain a license from the Swiss Financial Market Supervisory Authority (FINMA), and follow various anti money laundering measures, making the country the first traditional financial hub to regulate the industry.\r\n\r\nObtaining the license takes around 4 to 6 months, but FINMA also offers another interesting option: using a sandbox option, for which no licenses are required, up to an aggregated amount of 1 million CHF. This option enables cryptocurrency - and other fintech - companies to test products and business models without going through the regulatory process.\r\n\r\nWhile the country already has one of the most advanced regulatory frameworks for cryptocurrencies in the world, it is believed Switzerland will develop this regulation even further, being a hub of not only cryptocurrency companies in general but other innovations, such as being able to pay city fees with cryptocurrencies (Zug, a prominent cryptocurrency hub, was the first city in the world to allow this) as well. We would therefore say that this is one of the top jurisdictions to follow if you are interested in cryptocurrency regulation in general.\r\n\r\n<strong>Liechtenstein</strong> - may be a small country but it is a fairly big player in the cryptocurrency ecosystem, since adopting the Token and TT Service Provider Act in 2020 and is striving to become a blockchain center. While the regulatory framework is still as fresh as can be while we are writing this, the regulator, the Liechtenstein Financial Market Authority (FMA) has already issued some licenses, so this is definitely a very interesting, if still rather unknown option.\r\n\r\n<strong>The United Kingdom</strong> - the status of cryptocurrencies and crypto assets recently underwent some major changes in the country. While promoting investments in crypto assets, such as crypto currency derivatives, to individuals is now banned within the UK, after a ban came into effect on January 6, 2021. This means companies cannot offer crypto derivatives to individual residents within the UK but for companies wishing to engage in cryptoexchange and custodian services within the UK, they will be able to do so, pending registration with the FCA, the financial regulator and the anti-money laundering and counter terrorist financing supervisor for crypto businesses in the country, and following their guidelines for the conduct and operation of the business.\r\n\r\n<strong>Gibraltar</strong> – the Gibraltar Financial Services Commission has introduced a regulatory framework to oversee blockchain businesses operating in Gibraltar, thus becoming a pioneer not only in Europe, where it was the first country to regulate companies dealing with blockchain technology, also known as Distributed Ledger Technology, DLT, but one of the first in the entire world too. All companies in Gibraltar using this technology to either store or transmit value belonging to others must register with the Gibraltar Financial Services Commission.\r\n\r\nAnnual fees apply, anti-money laundering measures must be in place, the DLT Provider must prove a sound financial situation, maintain adequate financial and non-financial resources and be able to control and manage its business effectively, among other things, in order to qualify for the license.\r\n<h2>What does the future look like for cryptocurrency regulation?</h2>\r\nThe regulatory landscape when it comes to cryptocurrency regulation is, and has been, constantly changing and further developments and regulatory possibilities are certainly expected. Porat Group will keep updating on the matter, both here on our website and on social media.\r\n<h2>Why should you choose us if you are interested in regulating your cryptocurrency business?</h2>\r\nPorat Group is one of the first law firms to offer legal services that enables cryptocurrency business owners to regulate their businesses and activities, due to our own genuine interest in the industry. Several of our lawyers are well equipped to handle regulation processes for the industry in multiple jurisdictions. We also make sure to be up to date with any news and development within the industry.\r\n\r\nTo prove our commitment to the crypto currency ecosystem, Porat Group is also one of very few law firms accepting payments in crypto currencies (Bitcoin and ETH) in return for the provision of our legal and consulting services.\r\n\r\nRead more about the other legal services we can provide for blockchain and cryptocurrency companies <a href=\"/?p=619\">here</a>.\r\n\r\nAs mentioned above, we are also happy to give each client and potential client a personalized recommendation for a jurisdiction to go with for their cryptocurrency licensing needs, after having examined their business, its goals, needs and circumstances carefully. Contact us <a href=\"/?page_id=520\">here</a> should you be interested in such a consultation.', 'Regulation of cryptocurrencies', '', 'publish', 'open', 'open', '', 'regulation-of-cryptocurrencies', '', '', '2021-01-14 10:20:32', '2021-01-14 07:20:32', '', 0, 'https://www.porat.com/?p=3818', 0, 'post', '', 0),
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(3820, 6, '2021-01-14 10:19:55', '2021-01-14 07:19:55', '', 'Cryptocurrencies Porat Group', 'Cryptocurrency regulation in 2021', 'inherit', 'open', 'closed', '', 'cryptocurrencies-porat-group-2', '', '', '2021-01-14 10:20:22', '2021-01-14 07:20:22', '', 0, 'https://www.porat.com/wp-content/uploads/2021/01/Cryptocurrencies-Porat-Group.png', 0, 'attachment', 'image/png', 0);
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(3821, 6, '2021-01-14 10:20:32', '2021-01-14 07:20:32', 'Cryptocurrencies, and in some cases their incredible rollercoaster value fluctuations, have featured heavily in most major news outlets and have been debated a great deal in recent years. The regulation of cryptocurrencies did not keep quite the same pace for many years, but in recent years the regulating initiatives all over the world have become more frequent, and today even some of the most attractive financial jurisdictions in the world , as well as several smaller jurisdictions, have cryptocurrency regulations in place, making cryptocurrencies both safer and more respectable as a result.\r\n\r\nWhile the approaches vary, some jurisdictions having chosen to simply update their laws or issuing notices or guidelines to their licensees as well as the public, and others passing completely new laws, there are more options for those wanting to regulate a cryptocurrency business than many would believe at first glance.\r\n\r\nPorat Group has several lawyers with significant experience with cryptocurrency regulation, in various jurisdictions, and is therefore well equipped to guide those interested in cryptocurrency licensing, both when it comes to taking a hands on approach to every step in the regulatory process, as well as to choosing the best suited jurisdiction for each client.\r\n\r\nWhile we always recommend a personal consultation in order to understand each client’s needs fully before we recommend a specific jurisdiction, below you will find a list of the jurisdictions that are currently the main options for those looking to regulate their business within the cryptocurrency industry.\r\n<h2>Examples of various jurisdictions and their approach to cryptocurrencies</h2>\r\n<a href=\"https://www.porat.com/estonian-licensed-cryptocurrency-exchanges/\"><strong>Estonia</strong></a> - one of the first jurisdictions in the world to regulate cryptocurrency exchanges specifically over 3 years ago. The country really stands out when it comes to innovative thinking as it is one of few EU member states facilitating cryptocurrency regulation.\r\n\r\nObtaining the license needed to operate as a licensed cryptocurrency exchange in the country previously required obtaining 2 different financial licenses: the Virtual Currency Exchange Service License, and the Virtual Currency Wallet Service License, but these two licenses were recently united into one. License holders are also required to open an Estonian branch of a foreign company, and the center of management of the business is required to be in Estonia. Regulated companies must also follow strict reporting and following strict KYC (Know Your Customer) rules etc.\r\n\r\nIt is important to note, however, that cryptocurrencies aren’t considered legal tender in Estonia (just like in the UK, for example) but exchanges dealing with cryptocurrencies that follow all the requirements set out by the regulator are deemed legitimate. Crypto to crypto exchanges were also recently approved for regulation.\r\n\r\nWhen it comes to future regulation Estonia is also widely seen as the most promising candidate worldwide by many, as the country presumably had plans to introduce a national cryptocurrency (the “Estcoin”) in the past. While this plan is currently on hold many speculate that the Estonian government may think of other similarly innovative ideas in the future.\r\n\r\n<a href=\"https://www.porat.com/cryptocurrency-exchange-regulation-in-australia/\"><strong>Australia</strong></a> - another interesting jurisdiction due to the new crypto exchange regulation under AUSTRAC. The country made the decision that the trade of cryptocurrencies (as well as other digital assets) could be regulated and included in Australia\'s existing financial services regulatory regime, making it one of the most progressive countries in the world when it comes to cryptocurrency regulation.\r\n\r\nBoth cryptocurrencies (subjected to Capital Gains Tax) and cryptocurrency exchanges (called Digital Currency Businesses) are legal in the country, and those wishing to operate an Australian licensed cryptocurrency exchange need to operate from the country, identify and verify all users and clients, report all needed information to the authorities and keep records.\r\n\r\n<strong>Japan</strong> - a country that started regulating cryptocurrencies as early as 2017 (in the amended Payment Services Act, which was amended again in 2019) which is impressively early by all comparisons.\r\n\r\nThe country is often said to have the most progressive cryptocurrency regulation as a whole in the entire world, as both cryptocurrencies and cryptocurrency exchanges are legal in the country, as long as the exchange is registered as a Crypto Asset Exchange Service Provider with the Japanese Financial Services Agency.\r\n\r\nThe regulatory process is strict and can take as much as 6 months, and regulated Crypto Asset Exchange Service Providers must keep records, have customer due diligence procedures and security measures in place, follow anti-money laundering and counter-terrorism funding rules and regulations and hold at least 10 million yen in capital.\r\n\r\nInterestingly enough, it should also be mentioned that by Japanese law it is a punishable offense to spread false rumors about a cryptocurrency.\r\n\r\nJapan is expected to continue holding its place as the most innovative place for cryptocurrency regulation, so we are sure many are following the related news from Japan all over the world.\r\n\r\n<a href=\"https://www.porat.com/cryptocurrency-exchange-regulation-in-singapore/\"><strong>Singapore</strong></a> - a country that did not start regulating cryptocurrencies as early as some of the other jurisdictions mentioned in this list, but better late than never!\r\n\r\nSince 2020 the Monetary Authority of Singapore, or MAS, which is both Singapore’s national bank as well as the financial regulator in the country, has issued licenses for cryptocurrency businesses, and also has the authority to ban unsuitable individuals and companies from operating cryptocurrency businesses in the country.\r\n\r\nRegulated cryptocurrency businesses in the country are called virtual asset service providers, or VASPs, and must have a “meaningful presence” in Singapore to be able to be licensed, as well as comply with the Securities and Futures Act (SFA), pay annual fees, fulfill reporting duties and record transactions, safeguard users’ information and comply with anti-money laundering regulations.\r\n\r\n<a href=\"https://www.porat.com/cryptocurrency-exchange-regulation-in-malta/\"><strong>Malta</strong></a> - given that Malta is one of the leading jurisdictions for online gaming regulation worldwide it is interesting that they have also opted to regulate cryptocurrency businesses.\r\n\r\nWill Malta become a cryptocurrency regulation powerhouse and trailblazer, as it has been in the gaming sector, for the cryptocurrency industry as well? Only time will tell but what is for sure is that the country already provides an interesting alternative for cryptocurrency companies looking to regulate their activities.\r\n\r\nCryptocurrency exchanges are legal in the country, and a regulatory framework for cryptocurrencies exists, consisting of 3 separate bills that were signed into law in 2018: The Malta Digital Innovation Authority Bill, The Technology Arrangements and Services Bill and the Virtual Financial Assets Bill. All these laws apply to crypto exchanges, brokers, wallet providers, advisers, and asset managers alike.\r\n\r\nVarious stakeholders and authorities have additionally issued guidelines relevant to the industry to further assist with the implementation of these laws. It is therefore often said that the Maltese legislation for cryptocurrencies is more complex than the legislation in most other jurisdictions that have regulated these activities. The legislation has therefore been criticized by some who hope for it to be simplified, and many point out that very few licenses for the industry have actually been issued. While the legislation looks interesting on the outside, it may therefore be a less attractive option for many in actuality.\r\n\r\n<a href=\"https://www.porat.com/cryptocurrency-exchange-regulation-in-switzerland/\"><strong>Switzerland</strong> </a>- given that Switzerland has been an important financial hub for decades, if not centuries, it is not surprising that it has also chosen to be on the forefront of new financial developments, including cryptocurrencies. Due to that, both cryptocurrencies as such (considered assets and therefore subject to the Swiss Wealth tax) and cryptocurrency exchanges are legal in Switzerland, as long as they obtain a license from the Swiss Financial Market Supervisory Authority (FINMA), and follow various anti money laundering measures, making the country the first traditional financial hub to regulate the industry.\r\n\r\nObtaining the license takes around 4 to 6 months, but FINMA also offers another interesting option: using a sandbox option, for which no licenses are required, up to an aggregated amount of 1 million CHF. This option enables cryptocurrency - and other fintech - companies to test products and business models without going through the regulatory process.\r\n\r\nWhile the country already has one of the most advanced regulatory frameworks for cryptocurrencies in the world, it is believed Switzerland will develop this regulation even further, being a hub of not only cryptocurrency companies in general but other innovations, such as being able to pay city fees with cryptocurrencies (Zug, a prominent cryptocurrency hub, was the first city in the world to allow this) as well. We would therefore say that this is one of the top jurisdictions to follow if you are interested in cryptocurrency regulation in general.\r\n\r\n<strong>Liechtenstein</strong> - may be a small country but it is a fairly big player in the cryptocurrency ecosystem, since adopting the Token and TT Service Provider Act in 2020 and is striving to become a blockchain center. While the regulatory framework is still as fresh as can be while we are writing this, the regulator, the Liechtenstein Financial Market Authority (FMA) has already issued some licenses, so this is definitely a very interesting, if still rather unknown option.\r\n\r\n<strong>The United Kingdom</strong> - the status of cryptocurrencies and crypto assets recently underwent some major changes in the country. While promoting investments in crypto assets, such as crypto currency derivatives, to individuals is now banned within the UK, after a ban came into effect on January 6, 2021. This means companies cannot offer crypto derivatives to individual residents within the UK but for companies wishing to engage in cryptoexchange and custodian services within the UK, they will be able to do so, pending registration with the FCA, the financial regulator and the anti-money laundering and counter terrorist financing supervisor for crypto businesses in the country, and following their guidelines for the conduct and operation of the business.\r\n\r\n<strong>Gibraltar</strong> – the Gibraltar Financial Services Commission has introduced a regulatory framework to oversee blockchain businesses operating in Gibraltar, thus becoming a pioneer not only in Europe, where it was the first country to regulate companies dealing with blockchain technology, also known as Distributed Ledger Technology, DLT, but one of the first in the entire world too. All companies in Gibraltar using this technology to either store or transmit value belonging to others must register with the Gibraltar Financial Services Commission.\r\n\r\nAnnual fees apply, anti-money laundering measures must be in place, the DLT Provider must prove a sound financial situation, maintain adequate financial and non-financial resources and be able to control and manage its business effectively, among other things, in order to qualify for the license.\r\n<h2>What does the future look like for cryptocurrency regulation?</h2>\r\nThe regulatory landscape when it comes to cryptocurrency regulation is, and has been, constantly changing and further developments and regulatory possibilities are certainly expected. Porat Group will keep updating on the matter, both here on our website and on social media.\r\n<h2>Why should you choose us if you are interested in regulating your cryptocurrency business?</h2>\r\nPorat Group is one of the first law firms to offer legal services that enables cryptocurrency business owners to regulate their businesses and activities, due to our own genuine interest in the industry. Several of our lawyers are well equipped to handle regulation processes for the industry in multiple jurisdictions. We also make sure to be up to date with any news and development within the industry.\r\n\r\nTo prove our commitment to the crypto currency ecosystem, Porat Group is also one of very few law firms accepting payments in crypto currencies (Bitcoin and ETH) in return for the provision of our legal and consulting services.\r\n\r\nRead more about the other legal services we can provide for blockchain and cryptocurrency companies <a href=\"https://www.porat.com/legal/blockchain-cryptocurrencies/\">here</a>.\r\n\r\nAs mentioned above, we are also happy to give each client and potential client a personalized recommendation for a jurisdiction to go with for their cryptocurrency licensing needs, after having examined their business, its goals, needs and circumstances carefully. Contact us <a href=\"https://www.porat.com/contact/\">here</a> should you be interested in such a consultation.', 'Regulation of cryptocurrencies', '', 'inherit', 'closed', 'closed', '', '3818-revision-v1', '', '', '2021-01-14 10:20:32', '2021-01-14 07:20:32', '', 3818, 'https://www.porat.com/3818-revision-v1/', 0, 'revision', '', 0),
(3823, 6, '2021-01-16 10:52:08', '2021-01-16 07:52:08', 'Recently, the Financial Conduct Authority, or FCA, in the United Kingdom issued a policy statement with the title PS 20/10. This policy statement prohibits both the sale, promotion and distribution of crypto derivatives (including CFDs) and crypto ETNs, as well as basically every financial instrument that references crypto assets or has crypto assets as the underlying asset. The policy came into force on the 6th of January 2021, and this is already enforceable by the authority.\r\n<h2>What is the meaning of this policy statement in practice?</h2>\r\nTo put it simply, it means that companies or individuals will not be allowed to promote CFDs or any other financial products that are based on cryptocurrencies in the United Kingdom or to residents of the United Kingdom.\r\nIt is therefore important for Porat Group to prohibit the dissemination of any marketing materials which relate to the distribution of CFDs, as well as other products based on cryptocurrencies, addressed to UK residents for any of our clients for whom this may be relevant.\r\n\r\nWe also urge all our clients to take all actions needed (if not done already) in order to comply with this new policy statement.\r\n<h2>General information about cryptocurrency regulation in the UK</h2>\r\nOffering any crypto assets services in the United Kingdom requires registration with the FCA as of the 10th of January 2020. If you have an unregistered crypto business in the UK, we therefore strongly urge you to register it. Naturally, Porat Group can assist with the entire procedure if needed.\r\n\r\nIt is also important to note that only crypto-derivatives and crypto-ETNs which reference unregulated transferable crypto assets are caught by the ban. Therefore the ban does not include crypto-derivatives and crypto-ETNs which reference the following crypto assets:\r\n<ul>\r\n 	<li>security tokens;</li>\r\n 	<li>e-money tokens;</li>\r\n 	<li>tokens that are not widely transferable (for example, tokens used on a private network that can only be redeemed with the issuer);</li>\r\n 	<li>commodities where ownership is recorded on the blockchain (crypto-commodities);</li>\r\n 	<li>central bank digital currencies (CBDCs).</li>\r\n</ul>\r\nIt is therefore legal to for a company to engage in crypto exchange and custodian services within the UK (naturally pending registration with the FCA).\r\n\r\nIn general, the status of crypto assets in general in the United Kingdom has undergone some major changes recently. Porat Group’s regulatory experts will naturally continue to keep up with all major changes in this jurisdiction, as well as offer guidance to all clients active in the cryptocurrency industry in this market. We will also update our website accordingly, should there be a major change thought to be widely of interest to the industry and its players.\r\n<h2>More information</h2>\r\nFor more information about this new policy statement, we refer to <a href=\"https://www.fca.org.uk/publications/policy-statements/ps20-10-prohibiting-sale-retail-clients-investment-products-reference-cryptoassets\" rel=\"nofollow\">the FCA website</a> and <a href=\"https://www.fca.org.uk/news/press-releases/fca-bans-sale-crypto-derivatives-retail-consumers\" rel=\"nofollow\">their own press release</a> on the issue. Porat Group clients naturally also contact their contact person or account manager at the firm for further questions.\r\n\r\nFor information about other services we offer cryptocurrency businesses, in the UK and in other jurisdictions, please see <a href=\"/?p=619\">this page</a>. For more about cryptocurrency regulation in general, as well as a comparison of how the UK compares to other jurisdictions that regulate these activities see <a href=\"/?p=3818\">this page</a>.', 'New policy statement by the FCA in the UK regarding crypto assets', '', 'publish', 'open', 'open', '', 'new-policy-statement-by-the-fca-in-the-uk-regarding-crypto-assets', '', '', '2021-01-16 10:54:19', '2021-01-16 07:54:19', '', 0, 'https://www.porat.com/?p=3823', 0, 'post', '', 0),
(3824, 6, '2021-01-16 10:51:00', '2021-01-16 07:51:00', '', 'FCA-UK-Crypto-Policy', '', 'inherit', 'open', 'closed', '', 'flaguk', '', '', '2021-01-16 10:51:40', '2021-01-16 07:51:40', '', 3823, 'https://www.porat.com/wp-content/uploads/2021/01/FlagUK.png', 0, 'attachment', 'image/png', 0),
(3825, 6, '2021-01-16 10:51:00', '2021-01-16 07:51:00', '', 'FlagUK', '', 'inherit', 'open', 'closed', '', 'flaguk-2', '', '', '2021-01-16 10:51:40', '2021-01-16 07:51:40', '', 0, 'https://www.porat.com/wp-content/uploads/2021/01/FlagUK.png', 0, 'attachment', 'image/png', 0),
(3826, 6, '2021-01-16 10:52:08', '2021-01-16 07:52:08', 'Recently, the Financial Conduct Authority, or FCA, in the United Kingdom issued a policy statement with the title PS 20/10. This policy statement prohibits both the sale, promotion and distribution of crypto derivatives (including CFDs) and crypto ETNs, as well as basically every financial instrument that references crypto assets or has crypto assets as the underlying asset. The policy came into force on the 6th of January 2021, and this is already enforceable by the authority.\r\n<h2>What is the meaning of this policy statement in practice?</h2>\r\nTo put it simply, it means that companies or individuals will not be allowed to promote CFDs or any other financial products that are based on cryptocurrencies in the United Kingdom or to residents of the United Kingdom.\r\nIt is therefore important for Porat Group to prohibit the dissemination of any marketing materials which relate to the distribution of CFDs, as well as other products based on cryptocurrencies, addressed to UK residents for any of our clients for whom this may be relevant.\r\n\r\nWe also urge all our clients to take all actions needed (if not done already) in order to comply with this new policy statement.\r\n<h2>General information about cryptocurrency regulation in the UK</h2>\r\nOffering any crypto assets services in the United Kingdom requires registration with the FCA as of the 10th of January 2020. If you have an unregistered crypto business in the UK, we therefore strongly urge you to register it. Naturally, Porat Group can assist with the entire procedure if needed.\r\n\r\nIt is also important to note that only crypto-derivatives and crypto-ETNs which reference unregulated transferable crypto assets are caught by the ban. Therefore the ban does not include crypto-derivatives and crypto-ETNs which reference the following crypto assets:\r\n<ul>\r\n 	<li>security tokens;</li>\r\n 	<li>e-money tokens;</li>\r\n 	<li>tokens that are not widely transferable (for example, tokens used on a private network that can only be redeemed with the issuer);</li>\r\n 	<li>commodities where ownership is recorded on the blockchain (crypto-commodities);</li>\r\n 	<li>central bank digital currencies (CBDCs).</li>\r\n</ul>\r\nIt is therefore legal to for a company to engage in crypto exchange and custodian services within the UK (naturally pending registration with the FCA).\r\n\r\nIn general, the status of crypto assets in general in the United Kingdom has undergone some major changes recently. Porat Group’s regulatory experts will naturally continue to keep up with all major changes in this jurisdiction, as well as offer guidance to all clients active in the cryptocurrency industry in this market. We will also update our website accordingly, should there be a major change thought to be widely of interest to the industry and its players.\r\n<h2>More information</h2>\r\nFor more information about this new policy statement, we refer to <a href=\"https://www.fca.org.uk/publications/policy-statements/ps20-10-prohibiting-sale-retail-clients-investment-products-reference-cryptoassets\">the FCA website</a> and <a href=\"https://www.fca.org.uk/news/press-releases/fca-bans-sale-crypto-derivatives-retail-consumers\">their own press release</a> on the issue. Porat Group clients naturally also contact their contact person or account manager at the firm for further questions.\r\n\r\nFor information about other services we offer cryptocurrency businesses, in the UK and in other jurisdictions, please see <a href=\"https://www.porat.com/legal/blockchain-cryptocurrencies/\">this page</a>. For more about cryptocurrency regulation in general, as well as a comparison of how the UK compares to other jurisdictions that regulate these activities see <a href=\"https://www.porat.com/regulation-of-cryptocurrencies/\">this page</a>.', 'New policy statement by the FCA in the UK regarding crypto assets', '', 'inherit', 'closed', 'closed', '', '3823-revision-v1', '', '', '2021-01-16 10:52:08', '2021-01-16 07:52:08', '', 3823, 'https://www.porat.com/3823-revision-v1/', 0, 'revision', '', 0),
(3827, 6, '2021-01-16 10:54:00', '2021-01-16 07:54:00', 'Recently, the Financial Conduct Authority, or FCA, in the United Kingdom issued a policy statement with the title PS 20/10. This policy statement prohibits both the sale, promotion and distribution of crypto derivatives (including CFDs) and crypto ETNs, as well as basically every financial instrument that references crypto assets or has crypto assets as the underlying asset. The policy came into force on the 6th of January 2021, and this is already enforceable by the authority.\n<h2>What is the meaning of this policy statement in practice?</h2>\nTo put it simply, it means that companies or individuals will not be allowed to promote CFDs or any other financial products that are based on cryptocurrencies in the United Kingdom or to residents of the United Kingdom.\nIt is therefore important for Porat Group to prohibit the dissemination of any marketing materials which relate to the distribution of CFDs, as well as other products based on cryptocurrencies, addressed to UK residents for any of our clients for whom this may be relevant.\n\nWe also urge all our clients to take all actions needed (if not done already) in order to comply with this new policy statement.\n<h2>General information about cryptocurrency regulation in the UK</h2>\nOffering any crypto assets services in the United Kingdom requires registration with the FCA as of the 10th of January 2020. If you have an unregistered crypto business in the UK, we therefore strongly urge you to register it. Naturally, Porat Group can assist with the entire procedure if needed.\n\nIt is also important to note that only crypto-derivatives and crypto-ETNs which reference unregulated transferable crypto assets are caught by the ban. Therefore the ban does not include crypto-derivatives and crypto-ETNs which reference the following crypto assets:\n<ul>\n 	<li>security tokens;</li>\n 	<li>e-money tokens;</li>\n 	<li>tokens that are not widely transferable (for example, tokens used on a private network that can only be redeemed with the issuer);</li>\n 	<li>commodities where ownership is recorded on the blockchain (crypto-commodities);</li>\n 	<li>central bank digital currencies (CBDCs).</li>\n</ul>\nIt is therefore legal to for a company to engage in crypto exchange and custodian services within the UK (naturally pending registration with the FCA).\n\nIn general, the status of crypto assets in general in the United Kingdom has undergone some major changes recently. Porat Group’s regulatory experts will naturally continue to keep up with all major changes in this jurisdiction, as well as offer guidance to all clients active in the cryptocurrency industry in this market. We will also update our website accordingly, should there be a major change thought to be widely of interest to the industry and its players.\n<h2>More information</h2>\nFor more information about this new policy statement, we refer to <a href=\"https://www.fca.org.uk/publications/policy-statements/ps20-10-prohibiting-sale-retail-clients-investment-products-reference-cryptoassets\" rel=\"nofollow\">the FCA website</a> and <a href=\"https://www.fca.org.uk/news/press-releases/fca-bans-sale-crypto-derivatives-retail-consumers\">their own press release</a> on the issue. Porat Group clients naturally also contact their contact person or account manager at the firm for further questions.\n\nFor information about other services we offer cryptocurrency businesses, in the UK and in other jurisdictions, please see <a href=\"/?p=619\">this page</a>. For more about cryptocurrency regulation in general, as well as a comparison of how the UK compares to other jurisdictions that regulate these activities see <a href=\"/?p=3818\">this page</a>.', 'New policy statement by the FCA in the UK regarding crypto assets', '', 'inherit', 'closed', 'closed', '', '3823-autosave-v1', '', '', '2021-01-16 10:54:00', '2021-01-16 07:54:00', '', 3823, 'https://www.porat.com/3823-autosave-v1/', 0, 'revision', '', 0),
(3828, 6, '2021-01-16 10:54:19', '2021-01-16 07:54:19', 'Recently, the Financial Conduct Authority, or FCA, in the United Kingdom issued a policy statement with the title PS 20/10. This policy statement prohibits both the sale, promotion and distribution of crypto derivatives (including CFDs) and crypto ETNs, as well as basically every financial instrument that references crypto assets or has crypto assets as the underlying asset. The policy came into force on the 6th of January 2021, and this is already enforceable by the authority.\r\n<h2>What is the meaning of this policy statement in practice?</h2>\r\nTo put it simply, it means that companies or individuals will not be allowed to promote CFDs or any other financial products that are based on cryptocurrencies in the United Kingdom or to residents of the United Kingdom.\r\nIt is therefore important for Porat Group to prohibit the dissemination of any marketing materials which relate to the distribution of CFDs, as well as other products based on cryptocurrencies, addressed to UK residents for any of our clients for whom this may be relevant.\r\n\r\nWe also urge all our clients to take all actions needed (if not done already) in order to comply with this new policy statement.\r\n<h2>General information about cryptocurrency regulation in the UK</h2>\r\nOffering any crypto assets services in the United Kingdom requires registration with the FCA as of the 10th of January 2020. If you have an unregistered crypto business in the UK, we therefore strongly urge you to register it. Naturally, Porat Group can assist with the entire procedure if needed.\r\n\r\nIt is also important to note that only crypto-derivatives and crypto-ETNs which reference unregulated transferable crypto assets are caught by the ban. Therefore the ban does not include crypto-derivatives and crypto-ETNs which reference the following crypto assets:\r\n<ul>\r\n 	<li>security tokens;</li>\r\n 	<li>e-money tokens;</li>\r\n 	<li>tokens that are not widely transferable (for example, tokens used on a private network that can only be redeemed with the issuer);</li>\r\n 	<li>commodities where ownership is recorded on the blockchain (crypto-commodities);</li>\r\n 	<li>central bank digital currencies (CBDCs).</li>\r\n</ul>\r\nIt is therefore legal to for a company to engage in crypto exchange and custodian services within the UK (naturally pending registration with the FCA).\r\n\r\nIn general, the status of crypto assets in general in the United Kingdom has undergone some major changes recently. Porat Group’s regulatory experts will naturally continue to keep up with all major changes in this jurisdiction, as well as offer guidance to all clients active in the cryptocurrency industry in this market. We will also update our website accordingly, should there be a major change thought to be widely of interest to the industry and its players.\r\n<h2>More information</h2>\r\nFor more information about this new policy statement, we refer to <a href=\"https://www.fca.org.uk/publications/policy-statements/ps20-10-prohibiting-sale-retail-clients-investment-products-reference-cryptoassets\" rel=\"nofollow\">the FCA website</a> and <a href=\"https://www.fca.org.uk/news/press-releases/fca-bans-sale-crypto-derivatives-retail-consumers\" rel=\"nofollow\">their own press release</a> on the issue. Porat Group clients naturally also contact their contact person or account manager at the firm for further questions.\r\n\r\nFor information about other services we offer cryptocurrency businesses, in the UK and in other jurisdictions, please see <a href=\"/?p=619\">this page</a>. For more about cryptocurrency regulation in general, as well as a comparison of how the UK compares to other jurisdictions that regulate these activities see <a href=\"/?p=3818\">this page</a>.', 'New policy statement by the FCA in the UK regarding crypto assets', '', 'inherit', 'closed', 'closed', '', '3823-revision-v1', '', '', '2021-01-16 10:54:19', '2021-01-16 07:54:19', '', 3823, 'https://www.porat.com/3823-revision-v1/', 0, 'revision', '', 0),
(3830, 6, '2021-01-28 10:33:20', '2021-01-28 07:33:20', 'Brokerage firms, assets management and fund management companies face an increasingly complex regulatory, legislative and technological environments, making highly experienced legal counsel a must for anyone providing products and services related to the financial and capital markets.\n<h2>How can Porat Group assist financial institutions?</h2>\nPorat Group has extensive experience with this industry, it being one of the first ones we specialized in when the law firm was founded. Our regulatory lawyers have vast experience with financial institutions in general, as well as with the relevant regulators in many jurisdictions in particular. We also have lawyers with us who have served as in-house counsel for regulators and companies within the industry in the past.\n\nDue to that Porat Group is able to offer a full range of legal and business consultancy services for broker-dealers, brokerage firms, market makers, assets management firms, funds and related companies. We are already representing both a number of domestic players within the industry, as well as major multinational companies in the field.\n<h2>Selection of services provided for financial institutions and capital markets companies</h2>\nSome of the most sought after services by financial, brokerage and other closely related firms, provided by Porat Group, are:\n<ul>\n 	<li>Company formation.</li>\n 	<li>Company structuring.</li>\n 	<li>Licensing and regulation.</li>\n 	<li>Legal, compliance and regulatory services after a company is regulated.</li>\n 	<li>Mergers and acquisitions.</li>\n 	<li>Joint venture agreements.</li>\n 	<li>Assistance with changes in ownership and management, as well as restructuring and membership applications for broker-dealers.</li>\n 	<li>Cross border transactions.</li>\n 	<li>Contracts of all kinds (drafting, updating, researching etc.)</li>\n 	<li>Point of contact, consulting and hands on assistance with regulators and other providers.</li>\n 	<li>Due diligence.</li>\n 	<li>Guidance and consulting related to technology, bank accounts and payments solutions, as well as actual assistance connecting to the most suitable providers.</li>\n 	<li>Arbitration and litigation if needed.</li>\n 	<li>Consulting and legal advice for technology related issues, such as IP, cyber fraud security, risk management, electronic record keeping and more.</li>\n</ul>\n<h2>Some of the jurisdictions Porat Group has substantial experience with</h2>\nWe provide the above, as well as some additional, services for multiple jurisdictions within the European Union and Eastern Europe (for example Cyprus, Malta, the United Kingdom, Ireland, Germany, the Netherlands, Estonia, Bulgaria, the Czech Republic and Lithuania), Australia, numerous jurisdictions in Asia (for example Hong Kong and Singapore) and several offshore financial centers such as the Cayman Islands and Switzerland.\n\nWe are therefore able to completely let the clients’ needs and wishes determine what jurisdiction is most suitable in each individual case. In the event that the client has no preference and is uncertain where to incorporate and regulate their business, we are also able to provide consultancy on the differences, benefits and disadvantages of all these jurisdictions.', 'Financial and Capital Markets', 'For all those already in, or looking to get involved into the fast evolving cryptocurrency market, Nir Porat & Co., Law Firm are experienced in assisting with, as well as advise on, all legal and commercial matters related to this exiting and growing market. The crypto currencies’ eco system is constantly expanding, and includes many players these days. The crypto currencies system can be categorized under 4 core sectors, each bearing its own characteristics and function within the cryptocurrency world.', 'inherit', 'closed', 'closed', '', '610-autosave-v1', '', '', '2021-01-28 10:33:20', '2021-01-28 07:33:20', '', 610, 'https://www.porat.com/610-autosave-v1/', 0, 'revision', '', 0),
(3831, 6, '2021-01-28 10:58:04', '2021-01-28 07:58:04', 'The African continent have kept relatively quiet on the topic of cryptocurrencies, except for one unique initiative, involving several African countries which came up with a joint initiative to offer cryptocurrencies.\n\nCote d\'ivoire, Benin, Burkina Faso, Mali, Niger, Togo and Guinea have joined in a rather unique project involving a partnership between a local bank (Banque Régionale de Marchés (BRM) from Senegal) and eCurrency Mint Limited, an Ireland based firm which develops and provides technology that enables central banks to issue crypto fiat currency, to develop and provide all member countries with their very own cryptocurrency. The specifically designed crypto currency will be available first in Senegal and in a second phase in Cote d’Ivoire, Benin, Burkina Faso, Mali, Niger, Togo and Guinea. This new crypto currency will be compliant with applicable AML regulations and will be transacted across all existing payment platforms in the above mentioned participating countries and will be considered equivalent to physical legal tender.\n\nIn South Africa, the central bank issued a statement claiming it is “open” to cryptocurrencies and blockchain technology and its potential applications.\n\nThe regulatory landscape is constantly changing and we expect to see further developments and regulatory possibilities. We will certainly keep updating on the matter.\n\nPorat Group is one of the first law firms to offer legal services related to crypto currencies and regulating crypto currency businesses. Our lawyers handle regulation processes for the industry in several jurisdictions and additionally make sure to continually be up to date with any news and changes in the crypto currency industry. We are also one of very few law firms accepting payments in crypto currencies in return for our services.\n\nIf you are a business owner active in the crypto currencies industry who would like to know more about regulating your product or business, as well as what your alternatives regarding regulation are, please contact Porat Group for a free, non-binding consultation on the matter.', 'Regulation of cryptocurrencies in Africa', '', 'inherit', 'closed', 'closed', '', '3331-autosave-v1', '', '', '2021-01-28 10:58:04', '2021-01-28 07:58:04', '', 3331, 'https://www.porat.com/3331-autosave-v1/', 0, 'revision', '', 0),
(3832, 6, '2021-01-28 10:58:41', '2021-01-28 07:58:41', 'The African continent have kept relatively quiet on the topic of cryptocurrencies, except for one unique initiative, involving several African countries which came up with a joint initiative to offer cryptocurrencies.\r\n\r\nCote d\'ivoire, Benin, Burkina Faso, Mali, Niger, Togo and Guinea have joined in a rather unique project involving a partnership between a local bank (Banque Régionale de Marchés (BRM) from Senegal) and eCurrency Mint Limited, an Ireland based firm which develops and provides technology that enables central banks to issue crypto fiat currency, to develop and provide all member countries with their very own cryptocurrency. The specifically designed cryptocurrency will be available first in Senegal and in a second phase in Cote d’Ivoire, Benin, Burkina Faso, Mali, Niger, Togo and Guinea. This new cryptocurrency will be compliant with applicable AML regulations and will be transacted across all existing payment platforms in the above mentioned participating countries and will be considered equivalent to physical legal tender.\r\n\r\nIn South Africa, the central bank issued a statement claiming it is “open” to cryptocurrencies and blockchain technology and its potential applications.\r\n\r\nThe regulatory landscape is constantly changing and we expect to see further developments and regulatory possibilities. We will certainly keep updating on the matter.\r\n\r\nPorat Group is one of the first law firms to offer legal services related to cryptocurrencies and regulating cryptocurrency businesses. Our lawyers handle regulation processes for the industry in several jurisdictions and additionally make sure to continually be up to date with any news and changes in the cryptocurrency industry. We are also one of very few law firms accepting payments in cryptocurrencies in return for our services.\r\n\r\nIf you are a business owner active in the cryptocurrencies industry who would like to know more about regulating your product or business, as well as what your alternatives regarding regulation are, please contact Porat Group for a free, non-binding consultation on the matter.', 'Regulation of cryptocurrencies in Africa', '', 'inherit', 'closed', 'closed', '', '3331-revision-v1', '', '', '2021-01-28 10:58:41', '2021-01-28 07:58:41', '', 3331, 'https://www.porat.com/3331-revision-v1/', 0, 'revision', '', 0),
(3833, 6, '2021-02-01 13:27:53', '2021-02-01 10:27:53', 'One of the benefits in blockchain is that it allows to publicly share records which are stored in different computers. Basically it is like an electronic registrar enhancing transparency.\n\nThis however contradicts some basic concepts of data privacy protection especially in light of the GDPR whose goal is exactly the opposite – to restrict and monitor the distribution and transfer of personal data.\n\nIn less than a month, the GDPR will become enforceable throughout the EU (and the EEA).  Subjects (more commonly known as users) will soon have much more control regarding the data that they share. The most recent example of the shifting towards this goal has been demonstrated by the Cambridge Analytica matter. Facebook had transferred to Cambridge Analytica personal data of their users without permission and is now facing potential lawsuits and even criminal charges.\n\nIn short, from 28 May onwards, users will have more rights when it comes to their data. The most common these rights are the right of access, data protection by design and the right to be forgotten.\n\nIn contrast, blockchains\' objectives are to allow maximum transparency to ensure the reliability of transactions involving cryptocurrencies (or simply to maintain a public register not specifically designated for crypto transactions, ie, medical records). This is because blockchains are decentralized databases, namely, networks whereby users upload data to cloud computing systems.\n\nThere is a concept known as immutability of transactions. It means that transactions are not changeable once they are written on a blockchain so that data cannot been deleted. Every transaction that takes place will be published and linked to a public key that represents a specific user. The key is encrypted so that no one can identify the user. However, the re-use of the public key can refer to the user thus s/he becomes identifiable. This is done in order to facilitate a transaction so it can be verified that it is attributed to the right person/entity. Even if one transaction cancels a previous one, the information is still recorded and will be kept permanently.\n\nThis collides with the right of users that any personal data relating to them will be deleted/not published at all. In regards to blockchain the public key is basically the personal data hence it is protected under the GDPR.\n\nAnother example is in relation to what is known under GDPR as data protection by design. There is now a legal requirement upon the holders and processors of data to demonstrate that the deletion or amendment of data will be easily made (ie, simple IT will be used).\n\nThese two examples pose a substantial challenge to blockchain because in order to protect the accuracy of the related transactions as indicated above, sophisticated methods such as hashing<a href=\"#_ftn1\" name=\"_ftnref1\">[1]</a>  and encryption are used.\n\nThe question is how the blockchain industry is going to adapt itself to the GDPR and what mechanisms will be used to settle the gaps?\n\nPossible Solutions\n<ol>\n 	<li><strong>Smart contracts</strong> – smart contracts are basically on-line accounts which allow parties to transact without the need to use human legal services. Due to their nature, they can contain mechanisms governing access right, ie, a contract will revoke all access rights thereby making all content invisible to others albeit not erased.</li>\n 	<li><strong>Permissioned blockchains</strong> – the use of restricted or permissioned blockchains so that access is restricted and the uploading or changing of information will be made by authorised personnel. They will ensure that privacy rules are complied with (ie who can view the information and to what extent).</li>\n 	<li><strong>Off chain ledgers</strong> – personal data will be stored separately on another system that is safeguarded in accordance with data protection rules. As an example, a personally identifiable information (PII) will be used rather than, say, a public key and only authorised parties will have access to the data.</li>\n</ol>\nTo summarise, although there is essentially a collision between GDPR and blockchain, some safeguards can be placed in order to achieve an appropriate balance so that the importance of blockchain will be maintained on one hand and users rights for securing their personal data will be  protected on the other.\n\nOn a practical level you should also bear in mind that from 28 May 2018 onwards, data protections rules take precedent when it comes to offering services to clients whereby  personal data is used. This also applies to services involving blockcahins of any sort.\n\nWe can help you to assess your risks and advise you as to how you can stay in compliance whilst maximizing your commercial objectives.\n\n&nbsp;\n\n<a href=\"#_ftnref1\" name=\"_ftn1\">[1]</a> Generated code of a fixed length for a given piece of digital information that allows document\'s authentication. It cannot be reversed engineered to discover the original document. Under GDPR it is considered encrypted information thus subject to data protections rules.', 'Blockchain vs GDPR: a potential but reconcilable collision', '', 'inherit', 'closed', 'closed', '', '2615-autosave-v1', '', '', '2021-02-01 13:27:53', '2021-02-01 10:27:53', '', 2615, 'https://www.porat.com/2615-autosave-v1/', 0, 'revision', '', 0);
