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(1898, 5, '2015-12-24 09:58:51', '2015-12-24 06:58:51', 'As one of the first law firms in the world, Nir Porat &amp; Co., Law Firm is now offering legal services related to regulation for Forex brokers in the Pacific Island nation of Vanuatu. These licenses have many benefits that other alternatives lack, read more about the benefits of Vanuatu Forex licenses <a href=\"/?page_id=1893\">here</a>.\n\nAs with all our legal services all potential clients interested in any of these licenses are entitled to complimentary consultations with our legal team, where the advantages, costs and procedures are explained in more detail.', 'We are now offering legal services for regulation in Vanuatu', '', 'draft', 'open', 'open', '', 'we-are-now-offering-legal-services-for-regulation-in-vanuatu', '', '', '2019-08-18 13:07:27', '2019-08-18 10:07:27', '', 0, 'http://www.porat-lawfirm.com/?p=1898', 0, 'post', '', 0),
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(2554, 3, '2021-01-13 15:19:32', '2021-01-13 12:19:32', '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', '', 'publish', 'open', 'open', '', 'estonian-licensed-cryptocurrency-exchanges', '', '', '2021-01-14 10:10:12', '2021-01-14 07:10:12', '', 0, 'http://www.porat-lawfirm.com/?p=2554/', 0, 'post', '', 0),
(2560, 3, '2018-01-16 15:50:42', '2018-01-16 12:50:42', '<strong><u>What is it</u></strong><strong>?</strong>\r\nThe General Data Protection Regulation, aka GDPR, is a new regulation enacted by the EU on April 2016 and which is going to be in force within 4 months (May 2018). It is considered to be one of the most revolutionary law revisions. This is because it is going to influence the entire regime of privacy data protection laws and to impose onerous requirements upon the holders and processors of such data.\r\nIn this article we will review the salient sections in the GDPR and discuss their implications.\r\n\r\n<strong><u>Objectives </u></strong>\r\nThe main aim of the GDPR is to strengthen and unify data protection rules so that subjects (the people upon whom the information is related or collected) will have much more control over their personal data.\r\n\r\n<strong><u>Application</u></strong>\r\nThe GDPR will apply on both the holder of the data (known as the \"Controller\"), the processor of the data (ie, cloud service providers) if the data relates to individuals who reside in the EU (including Switzerland, Norway etc.).\r\n\r\nThis means that even if the controller/processor are based <strong><u>outside</u></strong> of the EU but the data they hold relates to EU residents then they will be subject to the GDPR.\r\n\r\n<strong><u>Why is it so dramatic? </u></strong>\r\nGDPR replaces regulations which are more than 20 year of age.\r\nThere are many conceptual changes and new obligations to which businesses can be subject to and which are new.\r\n\r\n<strong><u>Here are some examples: </u></strong>\r\n<ol>\r\n 	<li><strong>There is a wider definition as to what is considered as \"personal data\" </strong></li>\r\n</ol>\r\nThe fast pace of technological developments is reflected in the wider definition of personal data under GDPR. This includes any data which is personal by its nature (such as name and address etc) but <strong>also</strong> location data, identifiers and any genetic data, biometric data (ie facial recognition and fingerprinting).\r\n<ol start=\"2\">\r\n 	<li><strong>There new obligations regarding additional information which is not private per se</strong></li>\r\n</ol>\r\nNot only personal data must be protected but also  pseudonymous (ie, encryption of data like in the case of whatsApp).\r\n<ol start=\"3\">\r\n 	<li><strong>Consent must be unequivocal, no over complicated privacy policy</strong></li>\r\n 	<li><strong>Automated decision making and profiling</strong> - any organizations who use automated decision making technology will be required in certain circumstances to make sure that human control is be involved.</li>\r\n</ol>\r\n<strong> </strong><strong><u>What are the practical changes?</u></strong>\r\n\r\nThese can be divided into 2: Rights of the subjects and obligations on the businesses (controllers / processors).\r\n\r\n<strong>As regards to subjects</strong>, they now have much more control regarding the Data collected. These include:\r\n<ul>\r\n 	<li><strong>Right of access</strong> to the data including the right of information as to how it is being collected;</li>\r\n 	<li><strong>Right to be forgotten / erasure</strong> – right to withdraw of consent. This also includes subjects\' right to ask that any details relating to them will be deleted completely.</li>\r\n 	<li><strong>Right of compensation</strong> – subjects will have a right to be compensated even if no material damage has resulted to their privacy;</li>\r\n 	<li><strong>Right of data portability</strong> – subjects are entitled to receive all data held in relation to them in a structured and simple way.</li>\r\n</ul>\r\n<strong>So what are my obligations from now on?</strong>\r\n<ul>\r\n 	<li>You must make sure that you comply with the new demands and that you have full consent;</li>\r\n 	<li>You will probably need to revise your data policies by May 2018;</li>\r\n 	<li>You might need to appoint a Data Protection Officer;</li>\r\n 	<li>From May 2018, you must hold records and submit documentation to prove compliance.</li>\r\n 	<li>You must be proactive and engage directly subjects upon whom you hold and process information;</li>\r\n 	<li>You can be liable and subject to fines of up to 4% of your turnover PA</li>\r\n</ul>\r\n<strong><u>So what do I need to do? </u></strong>\r\n\r\nGiven that there is less than 6 months before the deadline for compliance, organizations absolutely must begin preparing immediately. There are several areas that are high priorities for action.\r\n\r\nFor more information please <a href=\"/?page_id=520\">contact Porat Group</a> with your specific questions.', 'The General Data Protection Regulations – an upcoming revolution of data protection rules', '', 'publish', 'open', 'open', '', 'general-data-protection-regulations-upcoming-revolution-data-protection-rules-2', '', '', '2021-02-08 17:55:54', '2021-02-08 14:55:54', '', 0, 'http://www.porat-lawfirm.com/?p=2560/', 0, 'post', '', 0),
(2591, 5, '2015-09-02 14:44:56', '2015-09-02 11:44:56', 'Our law firm is proud to support and host the Israeli team to the Philip C. Jessup International Law Moot Court Competition in 2016, the world\'s biggest moot court competition, with participants from over 550 law schools in more than 80 countries in our office today. (<a href=\"https://en.wikipedia.org/wiki/Philip_C._Jessup_International_Law_Moot_Court_Competition\" target=\"_blank\">Wikipedia offers more information about the competition for those interested</a>)\n\nWe wish the team the best of luck in their preparations for the competition, and - of course - in the competition itself!', 'Nir Porat & Co., Law Firm is proud to host the Israeli Jessup team', '', 'draft', 'open', 'open', '', 'nir-porat-co-law-firm-is-proud-to-host-the-israeli-jessup-team', '', '', '2019-08-18 13:07:27', '2019-08-18 10:07:27', '', 0, 'http://www.porat-lawfirm.com/?p=1064', 0, 'post', '', 0);
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(2612, 3, '2018-05-03 22:10:47', '2018-05-03 19:10:47', '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=\"/?page_id=520\">contact us</a>.\r\n\r\n&nbsp;', 'Australia\'s New Cryptocurrency Exchange Regulations', '', 'publish', 'open', 'open', '', 'australias-new-cryptocurrency-exchange-regulations', '', '', '2020-12-03 11:07:58', '2020-12-03 08:07:58', '', 0, 'http://www.porat-lawfirm.com/?p=2612/', 0, 'post', '', 0),
(2615, 3, '2018-05-24 14:04:55', '2018-05-24 11:04:55', '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.\r\n\r\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.\r\n\r\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.\r\n\r\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.\r\n\r\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.\r\n\r\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.\r\n\r\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.\r\n\r\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).\r\n\r\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.\r\n\r\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?\r\n\r\nPossible Solutions\r\n<ol>\r\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>\r\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>\r\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>\r\n</ol>\r\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.\r\n\r\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.\r\n\r\nWe can help you to assess your risks and advise you as to how you can stay in compliance whilst maximizing your commercial objectives.\r\n\r\n&nbsp;\r\n\r\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', '', 'publish', 'open', 'open', '', 'blockchain-vs-gdpr-potential-reconcilable-collision', '', '', '2021-02-01 13:28:09', '2021-02-01 10:28:09', '', 0, 'http://www.porat-lawfirm.com/?p=2615/', 0, 'post', '', 0),
(2633, 3, '2016-05-03 20:21:46', '2016-05-03 17:21:46', '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=\"/?page_id=520\">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', '', 'publish', 'open', 'open', '', 'how-the-annual-vacation-law-has-been-amended', '', '', '2020-12-03 12:25:04', '2020-12-03 09:25:04', '', 0, 'http://www.porat-lawfirm.com/?p=2010', 0, 'post', '', 0),
(2639, 3, '2017-06-14 11:32:28', '2017-06-14 08:32:28', '<p style=\"line-height: 19.5pt; background: white; margin: 0in 0in 10.5pt 0in;\"><span style=\"font-family: \'Arial\',sans-serif; color: #444444;\">As a law firm providing a range of different services for companies active in or looking into getting involved in the cryptocurrency niche Nir Porat &amp; Co., Law Firm has now decided to offer the option of paying for our legal services in cryptocurrency, such as Bitcoin, as well. </span></p>\r\n<p style=\"line-height: 19.5pt; background: white; margin: 0in 0in 10.5pt 0in;\"><span style=\"font-family: \'Arial\',sans-serif; color: #444444;\">\r\nWe believe that it is important that one of the few law firms in the world with the experience and expertise needed in order to assist and counsel crypto currencies clients also shows faith in the phenomenon itself, which is why we have decided to take this step, despite it being a rarity in the legal market. It is our understanding that we are the first Israeli law firm to accept payments in cryptocurrency , and one of the first law firms in the world to do so.</span></p>', 'We now accept payments in cryptocurrency for our services', '', 'draft', 'open', 'open', '', 'now-accept-payments-crypto-currencies-services', '', '', '2020-01-24 14:07:31', '2020-01-24 11:07:31', '', 0, 'http://www.porat-lawfirm.com/?p=2404/', 0, 'post', '', 0),
(2724, 5, '2019-08-18 13:07:24', '2019-08-18 10:07:24', '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\nFor more information please contact <a href=\"/?p=1928\">Adv. Izhar Levy</a> from our firm.\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-revision-v1', '', '', '2019-08-18 13:07:24', '2019-08-18 10:07:24', '', 2615, 'https://www.porat.com/2615-revision-v1/', 0, 'revision', '', 0),
(2725, 5, '2019-08-18 13:07:24', '2019-08-18 10:07:24', 'AUSTRAC (the Australian Transaction Reports and Analysis Center) has recently come out with 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\nMain 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 and keeping of records.\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 accounts with local 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=\"/?page_id=12\">contact us</a>.\n\n&nbsp;', 'Australia\'s New Cryptocurrency Exchange Regulations', '', 'inherit', 'closed', 'closed', '', '2612-revision-v1', '', '', '2019-08-18 13:07:24', '2019-08-18 10:07:24', '', 2612, 'https://www.porat.com/2612-revision-v1/', 0, 'revision', '', 0),
(2734, 5, '2019-08-18 13:07:25', '2019-08-18 10:07:25', '<strong><u>What is it</u></strong><strong>?</strong>\n\nThe General Data Protection Regulation, aka GDPR, is a new regulation enacted by the EU on April 2016 and which is going to be in force within 4 months (May 2018). It is considered to be one of the most revolutionary law revisions. This is because it is going to influence the entire regime of privacy data protection laws and to impose onerous requirements upon the holders and processors of such data.\n\nIn this article we will review the salient sections in the GDPR and discuss their implications.\n\n<strong><u>Objectives </u></strong>\n\nThe main aim of the GDPR is to strengthen and unify data protection rules so that subjects (the people upon whom the information is related or collected) will have much more control over their personal data.\n\n<strong><u>Application</u></strong>\n\nThe GDPR will apply on both the holder of the data (known as the \"Controller\"), the processor of the data (ie, cloud service providers) if the data relates to individuals who reside in the EU (including Switzerland, Norway etc.).\n\nThis means that even if the controller/processor are based <strong><u>outside</u></strong> of the EU but the data they hold relates to EU residents then they will be subject to the GDPR.\n\n<strong><u>Why is it so dramatic? </u></strong>\n\nGDPR replaces regulations which are more than 20 year of age.\n\nThere are many conceptual changes and new obligations to which businesses can be subject to and which are new.\n\n<strong><u>Here are some examples: </u></strong>\n<ol>\n 	<li><strong>There is a wider definition as to what is considered as \"personal data\" </strong></li>\n</ol>\nThe fast pace of technological developments is reflected in the wider definition of personal data under GDPR. This includes any data which is personal by its nature (such as name and address etc) but <strong>also</strong> location data, identifiers and any genetic data, biometric data (ie facial recognition and fingerprinting).\n<ol start=\"2\">\n 	<li><strong>There new obligations regarding additional information which is not private per se</strong></li>\n</ol>\nNot only personal data must be protected but also  pseudonymous (ie, encryption of data like in the case of whatsApp).\n<ol start=\"3\">\n 	<li><strong>Consent must be unequivocal, no over complicated privacy policy</strong></li>\n 	<li><strong>Automated decision making and profiling</strong> - any organizations who use automated decision making technology will be required in certain circumstances to make sure that human control is be involved.</li>\n</ol>\n<strong> </strong><strong><u>What are the practical changes?</u></strong>\n\nThese can be divided into 2: Rights of the subjects and obligations on the businesses (controllers / processors).\n\n<strong>As regards to subjects</strong>, they now have much more control regarding the Data collected. These include:\n<ul>\n 	<li><strong>Right of access</strong> to the data including the right of information as to how it is being collected;</li>\n 	<li><strong>Right to be forgotten / erasure</strong> – right to withdraw of consent. This also includes subjects\' right to ask that any details relating to them will be deleted completely.</li>\n 	<li><strong>Right of compensation</strong> – subjects will have a right to be compensated even if no material damage has resulted to their privacy;</li>\n 	<li><strong>Right of data portability</strong> – subjects are entitled to receive all data held in relation to them in a structured and simple way.</li>\n</ul>\n<strong>So what are my obligations from now on?</strong>\n<ul>\n 	<li>You must make sure that you comply with the new demands and that you have full consent;</li>\n 	<li>You will probably need to revise your data policies by May 2018;</li>\n 	<li>You might need to appoint a Data Protection Officer;</li>\n 	<li>From May 2018, you must hold records and submit documentation to prove compliance.</li>\n 	<li>You must be proactive and engage directly subjects upon whom you hold and process information;</li>\n 	<li>You can be liable and subject to fines of up to 4% of your turnover PA</li>\n</ul>\n<strong><u>So what do I need to do? </u></strong>\n\nGiven that there is less than 6 months before the deadline for compliance, organizations absolutely must begin preparing immediately. There are several areas that are high priorities for action.\n\nFor more information please contact <a href=\"/?p=1928\">adv. Izhar Levy</a> from our firm.', 'The General Data Protection Regulations – an upcoming revolution of data protection rules', '', 'inherit', 'closed', 'closed', '', '2560-revision-v1', '', '', '2019-08-18 13:07:25', '2019-08-18 10:07:25', '', 2560, 'https://www.porat.com/2560-revision-v1/', 0, 'revision', '', 0),
(2735, 5, '2019-08-18 13:07:25', '2019-08-18 10:07:25', '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.\n\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.\n\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.\n\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.\n\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.\n\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.\n\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.\n\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.\n\nNir Porat &amp; Co., Law Firm offers interested companies all the services needed for licensing in Estonia.', 'Estonian Licensed Cryptocurrency Exchanges', '', 'inherit', 'closed', 'closed', '', '2554-revision-v1', '', '', '2019-08-18 13:07:25', '2019-08-18 10:07:25', '', 2554, 'https://www.porat.com/2554-revision-v1/', 0, 'revision', '', 0),
(2742, 5, '2019-08-18 13:07:26', '2019-08-18 10:07:26', '<p style=\"line-height: 19.5pt; background: white; margin: 0in 0in 10.5pt 0in;\"><span style=\"font-family: \'Arial\',sans-serif; color: #444444;\">As a law firm providing a range of different services for companies active in or looking into getting involved in the cryptocurrency niche Nir Porat &amp; Co., Law Firm has now decided to offer the option of paying for our legal services in cryptocurrency, such as Bitcoin, as well. </span></p>\n<p style=\"line-height: 19.5pt; background: white; margin: 0in 0in 10.5pt 0in;\"><span style=\"font-family: \'Arial\',sans-serif; color: #444444;\">\nWe believe that it is important that one of the few law firms in the world with the experience and expertise needed in order to assist and counsel crypto currencies clients also shows faith in the phenomenon itself, which is why we have decided to take this step, despite it being a rarity in the legal market. It is our understanding that we are the first Israeli law firm to accept payments in cryptocurrency , and one of the first law firms in the world to do so.</span></p>', 'We now accept payments in cryptocurrency for our services', '', 'inherit', 'closed', 'closed', '', '2639-revision-v1', '', '', '2019-08-18 13:07:26', '2019-08-18 10:07:26', '', 2639, 'https://www.porat.com/2639-revision-v1/', 0, 'revision', '', 0),
(2749, 5, '2019-08-18 13:07:26', '2019-08-18 10:07:26', 'Following the amendment to the Annual Vacation law – 1951, please note the following:\n\n&nbsp;\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.</li>\n	<li>However, within the framework of the amendment any employee whom have been working for a certain employer for less than 4 years, shall entitled to have more 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 whom have been working for a certain employer for less than 4 year and for 5 days per week, shall be entitlement to 11 days of vacation;</li>\n	<li>As from the 1<sup>st</sup> of January 2017 an employee whom have been working for a certain employer for less than 4 year and for 5 days per week, shall be entitlement to 12 days of vacation.</li>\n</ul>\n</li>\n	<li>Please note, that the above-mentioned information shall not apply on employees whom been working for a certain employer for more than 4 years.</li>\n	<li>Moreover, please see the table below for more information.</li>\n</ol>\n&nbsp;\n\nFor more information regarding the Amendment to the Annual Vacation Law or any other issue regarding Labor Law, please feel free to contact us via email at: <a href=\"mailto:office@porat-lawfirm.com\">office@porat-lawfirm.com</a>.\n\n&nbsp;\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-revision-v1', '', '', '2019-08-18 13:07:26', '2019-08-18 10:07:26', '', 2633, 'https://www.porat.com/2633-revision-v1/', 0, 'revision', '', 0),
(2753, 5, '2019-08-18 13:07:27', '2019-08-18 10:07:27', 'As one of the first law firms in the world, Nir Porat &amp; Co., Law Firm is now offering legal services related to regulation for Forex brokers in the Pacific Island nation of Vanuatu. These licenses have many benefits that other alternatives lack, read more about the benefits of Vanuatu Forex licenses <a href=\"/?page_id=1893\">here</a>.\n\nAs with all our legal services all potential clients interested in any of these licenses are entitled to complimentary consultations with our legal team, where the advantages, costs and procedures are explained in more detail.', 'We are now offering legal services for regulation in Vanuatu', '', 'inherit', 'closed', 'closed', '', '1898-revision-v1', '', '', '2019-08-18 13:07:27', '2019-08-18 10:07:27', '', 1898, 'https://www.porat.com/1898-revision-v1/', 0, 'revision', '', 0),
(2756, 5, '2019-08-18 13:07:27', '2019-08-18 10:07:27', 'Our law firm is proud to support and host the Israeli team to the Philip C. Jessup International Law Moot Court Competition in 2016, the world\'s biggest moot court competition, with participants from over 550 law schools in more than 80 countries in our office today. (<a href=\"https://en.wikipedia.org/wiki/Philip_C._Jessup_International_Law_Moot_Court_Competition\" target=\"_blank\">Wikipedia offers more information about the competition for those interested</a>)\n\nWe wish the team the best of luck in their preparations for the competition, and - of course - in the competition itself!', 'Nir Porat & Co., Law Firm is proud to host the Israeli Jessup team', '', 'inherit', 'closed', 'closed', '', '2591-revision-v1', '', '', '2019-08-18 13:07:27', '2019-08-18 10:07:27', '', 2591, 'https://www.porat.com/2591-revision-v1/', 0, 'revision', '', 0),
(2757, 5, '2019-08-18 13:07:27', '2019-08-18 10:07:27', 'The Financial Markets Authority (FMA) in New Zealand announced on May 18th that a number of offshore firms had been removed from the New Zealand Financial Services Provider Register (FSPR). 23 companies already registered in the FSPR were removed from it during 2015, and 20 other firms were denied a license that would have added them to it. The reasons given were that the firms in question had misled the authorities about their ties to New Zealand, and were in fact operating from abroad, and only applied for a license in New Zealand to take advantage of the country’s good reputation. If the FMA found that there were actually no local operations in New Zealand, or that the extent of activities in the country was negligible, actions were taken in order to remove these firms from the FSPR.\n\nThe FMA also added that similar cases will be closely monitored in the future.\n\nA statutory process must always be followed by the FMA before any firm can be removed from the FSPR, and each firm is given an opportunity to justify their operations and ties to New Zealand as a part of this process. We do, however, recommend that all holders of New Zealand licenses for financial services that think they might not be deemed by the authorities to have satisfactory ties to the country monitor the development in the country closely in the upcoming months, and take preventive action. We welcome questions about this topic and offer several alternative routes for companies interested in regulation elsewhere. Read more <span style=\"color: #808080;\"><a style=\"color: #808080;\" href=\"/?page_id=214\">here</a></span> and <span style=\"color: #808080;\"><a style=\"color: #808080;\" href=\"/?page_id=240\">here</a></span>.', 'New Zealand removes offshore firms from FSPR', '', 'inherit', 'closed', 'closed', '', '741-revision-v1', '', '', '2019-08-18 13:07:27', '2019-08-18 10:07:27', '', 741, 'https://www.porat.com/741-revision-v1/', 0, 'revision', '', 0),
(2758, 3, '2019-08-18 16:37:27', '2019-08-18 13:37:27', '', 'INNOVATE. ACCURATE. SUCCESS.', '', 'inherit', 'closed', 'closed', '', '5-revision-v1', '', '', '2019-08-18 16:37:27', '2019-08-18 13:37:27', '', 5, 'https://www.porat.com/5-revision-v1/', 0, 'revision', '', 0),
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(2932, 5, '2015-04-29 12:45:51', '2015-04-29 12:45:51', 'We at Nir Porat &amp; Co. are commited to pro bono and charity work, which is why our lawyers make sure to take time for pro bono work, despite the many other professional task they handle. The firm does not focus on one specific charity, instead the pro bono and charity projects we take on are as diverse as our lawyers and their interests themselves. We always make sure that the quality of work in pro bono projects is just as high as in our regular commercial projects, however, and we believe this makes Ben Basat, Porat &amp; Co. an even better law firm, with greater compassion and understanding for the individual, as well as a more attractive work environment.\n\nIf you have any questions about the work at our pro bono law firm in Israel, please contact us at office@porat-lawfirm.com.\n\n<strong>Recent pro bono projects</strong>\n\nDogs in the Shadow is an Israeli charity organization that has been rescuing dogs and cats since 2009. The organization helps more than 1 000 animals every year, including pets that run the risk of being put down in shelters and pounds all over the country. All the people involved in the organization are volunteers, providing neglected pets with rehabilitation (both physical and mental), vaccines, shelter and new forever homes.\n\nFor more information about the organization, visit their website or Facebook page.\n\n<a href=\"http://www.dogsintheshadow.co.il/\">http://www.dogsintheshadow.co.il/</a>\n\n<a href=\"https://www.facebook.com/dogsintheshadow\">https://www.facebook.com/dogsintheshadow</a>', 'Pro Bono', '', 'draft', 'open', 'open', '', 'probono', '', '', '2019-08-27 15:01:32', '2019-08-27 12:01:32', '', 0, 'http://www.porat-lawfirm.com/?page_id=560', 0, 'page', '', 0),
(3123, 5, '2019-08-27 15:01:32', '2019-08-27 12:01:32', 'We at Nir Porat &amp; Co. are commited to pro bono and charity work, which is why our lawyers make sure to take time for pro bono work, despite the many other professional task they handle. The firm does not focus on one specific charity, instead the pro bono and charity projects we take on are as diverse as our lawyers and their interests themselves. We always make sure that the quality of work in pro bono projects is just as high as in our regular commercial projects, however, and we believe this makes Ben Basat, Porat &amp; Co. an even better law firm, with greater compassion and understanding for the individual, as well as a more attractive work environment.\n\nIf you have any questions about the work at our pro bono law firm in Israel, please contact us at office@porat-lawfirm.com.\n\n<strong>Recent pro bono projects</strong>\n\nDogs in the Shadow is an Israeli charity organization that has been rescuing dogs and cats since 2009. The organization helps more than 1 000 animals every year, including pets that run the risk of being put down in shelters and pounds all over the country. All the people involved in the organization are volunteers, providing neglected pets with rehabilitation (both physical and mental), vaccines, shelter and new forever homes.\n\nFor more information about the organization, visit their website or Facebook page.\n\n<a href=\"http://www.dogsintheshadow.co.il/\">http://www.dogsintheshadow.co.il/</a>\n\n<a href=\"https://www.facebook.com/dogsintheshadow\">https://www.facebook.com/dogsintheshadow</a>', 'Pro Bono', '', 'inherit', 'closed', 'closed', '', '2932-revision-v1', '', '', '2019-08-27 15:01:32', '2019-08-27 12:01:32', '', 2932, 'https://www.porat.com/2932-revision-v1/', 0, 'revision', '', 0),
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(3293, 3, '2017-06-25 16:16:35', '2017-06-25 13:16:35', '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=\"/?page_id=7\">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', '', 'publish', 'open', 'open', '', 'crypto-currencies-regulation', '', '', '2020-11-30 13:06:02', '2020-11-30 10:06:02', '', 0, 'https://www.porat.com/?p=3293', 0, 'post', '', 0),
(3294, 5, '2019-09-04 16:16:30', '2019-09-04 13:16:30', '&nbsp;\r\n\r\nOne cannot but describe the regulatory landscape of crypto currencies as diverse, maybe even fragmented.\r\n\r\nThe general attitude towards crypto currencies, led by national central banks, is to reject the possibility of crypto currencies 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 crypto currencies 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 crypto currencies by national authorities is debating on the applicability of VAT to transactions involving crypto currencies while warning the public of possible Anti-Money Laundering implications and associated risks, and occasionally applying AML duties on parties involved in crypto currencies related transactions.\r\n\r\nAlthough the regulatory status of crypto currencies is being shaped as we go, it is important to point out that only a handful of countries have publicly banned the use of crypto currencies in their territories, namely Russia, China, Venezuela, and a handful of others.\r\n\r\nSeveral countries have taken a bolder and innovative approach by trying to apply a regulatory framework to crypto currencies.\r\n\r\nThese countries are divided between those which have designed a specific regulatory regime for crypto currencies, while other have interpreted and applied exiting regulatory frameworks on crypto currency activities.\r\n\r\nAmongst the countries which have developed specific regulatory schemes for crypto currencies 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 crypto currency activities are Switzerland, Luxembourg and Germany.\r\n\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 crypto currencies activities.\r\n\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\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\r\nGerman regulator BAFIN has expressed its view that crypto currencies 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\r\nSwitzerland was one of the first countries to license crypto currencies 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\r\nMany countries have declared initiatives to propose and draft applicable regulatory rules to crypto currencies in their territories and the number of countries regulating crypto currencies activities is likely to grow fast.\r\n\r\nNir Porat &amp; Co., Law Firm 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 our 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 crypto currencies.\r\n\r\nIf you are a business owner active in the crypto currencies 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', '', '', '2019-09-04 16:16:30', '2019-09-04 13:16:30', '', 3293, 'https://www.porat.com/3293-revision-v1/', 0, 'revision', '', 0),
(3295, 3, '2016-03-07 16:18:16', '2016-03-07 13:18:16', 'The European Union is one of the most important players in the world economy and in international trade today. Therefore, it is very attractive as a base for business, for both individuals and companies. Cyprus is one of the EU states that offer a scheme where foreign investors – both individuals and corporations – can become citizens of the country, and therefore EU citizens as well.\r\n<h2>Why Cyprus?</h2>\r\n<ul>\r\n 	<li>EU and OECD Member state;</li>\r\n 	<li>Strategic location;</li>\r\n 	<li>Cost effective setting up and ongoing management of structures;</li>\r\n 	<li>Extensive network of double taxation treaties;</li>\r\n 	<li>Modern funds legislation and various regulatory bodies to facilitate investments;</li>\r\n 	<li>Mature business centre;</li>\r\n 	<li>Tax incentive schemes (see more details below).</li>\r\n</ul>\r\n&nbsp;\r\n<h2>Criteria</h2>\r\nA. Financial Criteria – each applicant must meet ONE of the following criteria, either personally or via a company in which he is a shareholder or a senior executive and provided that the investment is being kept after citizenship had been granted:\r\n\r\na. The applicant must have invested at least €5 million for the purchase of Cyprus Government Bonds; or,\r\n\r\nb. The applicant must have invested at least €5m for the purchase of financial assets of Cyprus companies (ie shares, bonds etc.); or,\r\n\r\nc. The applicant must have invested at least €5m for the purchase or construction of property in Cyprus (including residential or non-residential property) ; or,\r\n\r\nd. The applicant must have invested at least €5m for the purchase, creation or participation in businesses or companies that are based and operating in Cyprus and employ at least 5 people; or,\r\n\r\ne. The applicant should have a private, or via a company or trusts connected to him, €5m placed in deposits at Cyprus Bank with a 3 years duration; or,\r\n\r\nf. Any combination of the criteria above (a-e); or,\r\n\r\ng. Major Collective investments: regarding this term, the council of ministers can reduce the aforementioned amount to €2.5m provided that the applicant participates in such collective investment of at least €12.5m.\r\n\r\nB. Mandatory Terms: these terms include all of the following: (1) clean criminal record; (2) no freezing order has been issued in relation to the applicant’s assets within the EU; and (3) applicant must hold a permanent-privately owned residence in Cyprus, the value market of which must be at least €500,000 plus VAT.\r\n\r\nC. Family members (if applicable): a spouse and any dependent children (not exceeding the age of 28 and provided that they intend to study or are in process of studying) may apply without the need of meeting the financial criteria. The procedure is quite similar to the main applicant subject to the exempt from the Financial Criteria.\r\n<h2>Procedure</h2>\r\nIn order to examine each application, various documents must be submitted as follows (non-exhausting list):\r\n<ul>\r\n 	<li>Letter by the applicant or a representative on his behalf in which the investment criterion under which the applicant applies is briefly explained;</li>\r\n 	<li>Application form duly completed and signed before a registrar of the Cypriot court or court officer;</li>\r\n 	<li>Birth certificate;</li>\r\n 	<li>Passport;</li>\r\n 	<li>Marriage certificate (if applicable);</li>\r\n 	<li>Clean record certificate</li>\r\n 	<li>Relevant documents depending on the type of investment;</li>\r\n 	<li>If the applicant is connected to a company as defined above, additional documents are required.</li>\r\n</ul>\r\n&nbsp;\r\n\r\nIt should be noted that with regards to birth certificate and marriage certificate these documents must be issued by the country of birth and/or marriage. These documents must be presented in original format with apostil and their official translation in English again with apostil.\r\n\r\nIn the case where the issuing country has not signed the Hague convention, then the document (birth certificate or marriage certificate) needs to be certified by the Ministry of foreign affairs of the issuing country and the nearest Embassy or consulate of Cyprus in that country.\r\n\r\nIt should also be emphasized that as per Cyprus Ministry of council’s decision, disabled dependents of a main applicant are also eligible to apply regardless to the fact that they are unable to work nor engage in any kind of activity (provided they are under the age of 28).\r\n<h2>Taxation</h2>\r\nOne of the salient points regarding the Cypriot citizenship scheme is that applicants may enjoy, once granted certificate of naturalization, major tax benefits as followed:\r\n<ul>\r\n 	<li>1. Exemption on tax on dividend income;</li>\r\n 	<li>2. Exemption from the deemed dividend distribution;</li>\r\n 	<li>3. Exemption from tax on interest income;</li>\r\n 	<li>4. Exemption from tax on any rental income;</li>\r\n 	<li>5. Other tax benefits regarding CGT and Income Tax may also be granted.</li>\r\n</ul>\r\n&nbsp;\r\n\r\nIn order to be entitled to these benefits, a new legislation has been made to distinguish between those domiciled in Cyprus and those who are not (ie both physically and residents for tax purpose). The latter group will be exempt as indicated above even if the relevant applicant resides in Cyprus once granted his certificate of naturalization and such exemption will be granted for 17 years!\r\n<h2>How can we help you gain your Cypriot passport through the program?</h2>\r\nThe lawyers at Porat Group deal and have been dealing with Cyprus as a jurisdiction for several years, dealing with a range of different legal issues, including regulation for Forex trading and other financial industries as well as nominee services, just to name a few and therefore are well acquainted with the country and its’ laws.\r\n\r\nThe law firm has many professional partners in the country, from banks, financial networks, lawyers, international accountants, tax advisors, regulatory bodies and others and can therefore provide consultation and professional services for a range of matters related to Cyprus, including Cypriot Citizenship by investment.\r\n\r\nWe are happy to give any potential clients more detailed information on applying for the Citizenship Program, and offer free, non-committing consultations on the matter.', 'Cypriot Citizenship', '', 'publish', 'open', 'open', '', 'cypriot-citizenship', '', '', '2020-11-29 18:29:06', '2020-11-29 15:29:06', '', 0, 'https://www.porat.com/?p=3295', 0, 'post', '', 0),
(3296, 5, '2019-09-04 16:19:06', '2019-09-04 13:19:06', 'The European Union is one of the most important players in the world economy and in international trade today. Therefore, it is very attractive as a base for business, for both individuals and companies. Cyprus is one of the EU states that offer a scheme where foreign investors – both individuals and corporations – can become citizens of the country, and therefore EU citizens as well.\r\n<h2>Why Cyprus?</h2>\r\n<ul>\r\n 	<li>EU and OECD Member state;</li>\r\n 	<li>Strategic location;</li>\r\n 	<li>Cost effective setting up and ongoing management of structures;</li>\r\n 	<li>Extensive network of double taxation treaties;</li>\r\n 	<li>Modern funds legislation and various regulatory bodies to facilitate investments;</li>\r\n 	<li>Mature business centre;</li>\r\n 	<li>Tax incentive schemes (see more details below).</li>\r\n</ul>\r\n&nbsp;\r\n<h2>Criteria</h2>\r\nA. Financial Criteria – each applicant must meet ONE of the following criteria, either personally or via a company in which he is a shareholder or a senior executive and provided that the investment is being kept after citizenship had been granted:\r\n\r\na. The applicant must have invested at least €5 million for the purchase of Cyprus Government Bonds; or,\r\n\r\nb. The applicant must have invested at least €5m for the purchase of financial assets of Cyprus companies (ie shares, bonds etc.); or,\r\n\r\nc. The applicant must have invested at least €5m for the purchase or construction of property in Cyprus (including residential or non-residential property) ; or,\r\n\r\nd. The applicant must have invested at least €5m for the purchase, creation or participation in businesses or companies that are based and operating in Cyprus and employ at least 5 people; or,\r\n\r\ne. The applicant should have a private, or via a company or trusts connected to him, €5m placed in deposits at Cyprus Bank with a 3 years duration; or,\r\n\r\nf. Any combination of the criteria above (a-e); or,\r\n\r\ng. Major Collective investments: regarding this term, the council of ministers can reduce the aforementioned amount to €2.5m provided that the applicant participates in such collective investment of at least €12.5m.\r\n\r\nB. Mandatory Terms: these terms include all of the following: (1) clean criminal record; (2) no freezing order has been issued in relation to the applicant’s assets within the EU; and (3) applicant must hold a permanent-privately owned residence in Cyprus, the value market of which must be at least €500,000 plus VAT.\r\n\r\nC. Family members (if applicable): a spouse and any dependent children (not exceeding the age of 28 and provided that they intend to study or are in process of studying) may apply without the need of meeting the financial criteria. The procedure is quite similar to the main applicant subject to the exempt from the Financial Criteria.\r\n<h2>Procedure</h2>\r\nIn order to examine each application, various documents must be submitted as follows (non-exhausting list):\r\n<ul>\r\n 	<li>Letter by the applicant or a representative on his behalf in which the investment criterion under which the applicant applies is briefly explained;</li>\r\n 	<li>Application form duly completed and signed before a registrar of the Cypriot court or court officer;</li>\r\n 	<li>Birth certificate;</li>\r\n 	<li>Passport;</li>\r\n 	<li>Marriage certificate (if applicable);</li>\r\n 	<li>Clean record certificate</li>\r\n 	<li>Relevant documents depending on the type of investment;</li>\r\n 	<li>If the applicant is connected to a company as defined above, additional documents are required.</li>\r\n</ul>\r\n&nbsp;\r\n\r\nIt should be noted that with regards to birth certificate and marriage certificate these documents must be issued by the country of birth and/or marriage, as the case may be. These documents must be presented in original format with apostil and their official translation in English again with apostil.\r\n\r\nIn the case where the issuing country has not signed the Hague convention, then the document (birth certificate or marriage certificate) needs to be certified by the Ministry of foreign affairs of the issuing country and the nearest Embassy or consulate of Cyprus in that country.\r\n\r\nIt should also be emphasized that as per Cyprus Ministry of council’s decision, disabled dependents of a main applicant are also eligible to apply regardless to the fact that they are unable to work nor engage in any kind of activity (provided they are under the age of 28).\r\n<h2>Taxation</h2>\r\nOne of the salient points regarding the Cypriot citizenship scheme is that applicants may enjoy, once granted certificate of naturalization, major tax benefits as followed:\r\n<ul>\r\n 	<li>1. Exemption on tax on dividend income;</li>\r\n 	<li>2. Exemption from the deemed dividend distribution;</li>\r\n 	<li>3. Exemption from tax on interest income;</li>\r\n 	<li>4. Exemption from tax on any rental income;</li>\r\n 	<li>5. Other tax benefits regarding CGT and Income Tax may also be granted.</li>\r\n</ul>\r\n&nbsp;\r\n\r\nIn order to be entitled to these benefits, a new legislation has been made to distinguish between those domiciled in Cyprus and those who are not (ie both physically and residents for tax purpose). The latter group will be exempt as indicated above even if the relevant applicant resides in Cyprus once granted his certificate of naturalization and such exemption will be granted for 17 years!\r\n<h2>How can we help you gain your Cypriot passport through the program?</h2>\r\nThe lawyers at Nir Porat and Co., Law Firm deal and have been dealing with Cyprus as a jurisdiction for several years, dealing with a range of different legal issues, including <a href=\"/?page_id=216\">regulation for Forex</a> and <a href=\"/?page_id=242\">Binary Options</a> as well as <a href=\"/?page_id=258\">nominee services</a>, just to name a few and therefore are well acquainted with the country and its’ laws.\r\n\r\nThe law firm has many professional partners in the country, from banks, financial networks, lawyers, international accountants, tax advisors, regulatory bodies and others and can therefore provide consultation and professional services for a range of matters related to Cyprus, including Cypriot Citizenship by investment.\r\n\r\nWe are happy to give any potential clients more detailed information on applying for the Citizenship Program, and offer free, non-committing consultations on the matter.', 'Cypriot Citizenship', '', 'inherit', 'closed', 'closed', '', '3295-revision-v1', '', '', '2019-09-04 16:19:06', '2019-09-04 13:19:06', '', 3295, 'https://www.porat.com/3295-revision-v1/', 0, 'revision', '', 0),
(3297, 5, '2019-09-04 16:19:37', '2019-09-04 13:19:37', 'The European Union is one of the most important players in the world economy and in international trade today. Therefore, it is very attractive as a base for business, for both individuals and companies. Cyprus is one of the EU states that offer a scheme where foreign investors – both individuals and corporations – can become citizens of the country, and therefore EU citizens as well.\r\n<h2>Why Cyprus?</h2>\r\n<ul>\r\n 	<li>EU and OECD Member state;</li>\r\n 	<li>Strategic location;</li>\r\n 	<li>Cost effective setting up and ongoing management of structures;</li>\r\n 	<li>Extensive network of double taxation treaties;</li>\r\n 	<li>Modern funds legislation and various regulatory bodies to facilitate investments;</li>\r\n 	<li>Mature business centre;</li>\r\n 	<li>Tax incentive schemes (see more details below).</li>\r\n</ul>\r\n&nbsp;\r\n<h2>Criteria</h2>\r\nA. Financial Criteria – each applicant must meet ONE of the following criteria, either personally or via a company in which he is a shareholder or a senior executive and provided that the investment is being kept after citizenship had been granted:\r\n\r\na. The applicant must have invested at least €5 million for the purchase of Cyprus Government Bonds; or,\r\n\r\nb. The applicant must have invested at least €5m for the purchase of financial assets of Cyprus companies (ie shares, bonds etc.); or,\r\n\r\nc. The applicant must have invested at least €5m for the purchase or construction of property in Cyprus (including residential or non-residential property) ; or,\r\n\r\nd. The applicant must have invested at least €5m for the purchase, creation or participation in businesses or companies that are based and operating in Cyprus and employ at least 5 people; or,\r\n\r\ne. The applicant should have a private, or via a company or trusts connected to him, €5m placed in deposits at Cyprus Bank with a 3 years duration; or,\r\n\r\nf. Any combination of the criteria above (a-e); or,\r\n\r\ng. Major Collective investments: regarding this term, the council of ministers can reduce the aforementioned amount to €2.5m provided that the applicant participates in such collective investment of at least €12.5m.\r\n\r\nB. Mandatory Terms: these terms include all of the following: (1) clean criminal record; (2) no freezing order has been issued in relation to the applicant’s assets within the EU; and (3) applicant must hold a permanent-privately owned residence in Cyprus, the value market of which must be at least €500,000 plus VAT.\r\n\r\nC. Family members (if applicable): a spouse and any dependent children (not exceeding the age of 28 and provided that they intend to study or are in process of studying) may apply without the need of meeting the financial criteria. The procedure is quite similar to the main applicant subject to the exempt from the Financial Criteria.\r\n<h2>Procedure</h2>\r\nIn order to examine each application, various documents must be submitted as follows (non-exhausting list):\r\n<ul>\r\n 	<li>Letter by the applicant or a representative on his behalf in which the investment criterion under which the applicant applies is briefly explained;</li>\r\n 	<li>Application form duly completed and signed before a registrar of the Cypriot court or court officer;</li>\r\n 	<li>Birth certificate;</li>\r\n 	<li>Passport;</li>\r\n 	<li>Marriage certificate (if applicable);</li>\r\n 	<li>Clean record certificate</li>\r\n 	<li>Relevant documents depending on the type of investment;</li>\r\n 	<li>If the applicant is connected to a company as defined above, additional documents are required.</li>\r\n</ul>\r\n&nbsp;\r\n\r\nIt should be noted that with regards to birth certificate and marriage certificate these documents must be issued by the country of birth and/or marriage, as the case may be. These documents must be presented in original format with apostil and their official translation in English again with apostil.\r\n\r\nIn the case where the issuing country has not signed the Hague convention, then the document (birth certificate or marriage certificate) needs to be certified by the Ministry of foreign affairs of the issuing country and the nearest Embassy or consulate of Cyprus in that country.\r\n\r\nIt should also be emphasized that as per Cyprus Ministry of council’s decision, disabled dependents of a main applicant are also eligible to apply regardless to the fact that they are unable to work nor engage in any kind of activity (provided they are under the age of 28).\r\n<h2>Taxation</h2>\r\nOne of the salient points regarding the Cypriot citizenship scheme is that applicants may enjoy, once granted certificate of naturalization, major tax benefits as followed:\r\n<ul>\r\n 	<li>1. Exemption on tax on dividend income;</li>\r\n 	<li>2. Exemption from the deemed dividend distribution;</li>\r\n 	<li>3. Exemption from tax on interest income;</li>\r\n 	<li>4. Exemption from tax on any rental income;</li>\r\n 	<li>5. Other tax benefits regarding CGT and Income Tax may also be granted.</li>\r\n</ul>\r\n&nbsp;\r\n\r\nIn order to be entitled to these benefits, a new legislation has been made to distinguish between those domiciled in Cyprus and those who are not (ie both physically and residents for tax purpose). The latter group will be exempt as indicated above even if the relevant applicant resides in Cyprus once granted his certificate of naturalization and such exemption will be granted for 17 years!\r\n<h2>How can we help you gain your Cypriot passport through the program?</h2>\r\nThe lawyers at Nir Porat and Co., Law Firm deal and have been dealing with Cyprus as a jurisdiction for several years, dealing with a range of different legal issues, including regulation for Forex and Binary Options as well as nominee services, just to name a few and therefore are well acquainted with the country and its’ laws.\r\n\r\nThe law firm has many professional partners in the country, from banks, financial networks, lawyers, international accountants, tax advisors, regulatory bodies and others and can therefore provide consultation and professional services for a range of matters related to Cyprus, including Cypriot Citizenship by investment.\r\n\r\nWe are happy to give any potential clients more detailed information on applying for the Citizenship Program, and offer free, non-committing consultations on the matter.', 'Cypriot Citizenship', '', 'inherit', 'closed', 'closed', '', '3295-revision-v1', '', '', '2019-09-04 16:19:37', '2019-09-04 13:19:37', '', 3295, 'https://www.porat.com/3295-revision-v1/', 0, 'revision', '', 0),
(3298, 3, '2016-07-25 11:53:52', '2016-07-25 08:53:52', 'The law firm of Nir Porat &amp; Co accompanies franchise companies and franchise holders in a wide range of spheres relating to franchising. Our firm has considerable and comprehensive experience in franchising and the issues that accompany it, such as:\r\n<ul>\r\n 	<li>Drawing up founding documents between partners wanting to engage with franchising companies and acquire a franchise;</li>\r\n 	<li>Accompanying and preparing all relevant documents for the purchase and sale of active and new franchises;</li>\r\n 	<li>Registering trademarks with the Registrar of Trademarks;</li>\r\n 	<li>Drawing up a wide range of documents relating to franchises, such as: employment agreements, commercial rental agreements, engagement agreements with contractors and suppliers, and so forth;</li>\r\n 	<li>Mediation, arbitration and legal proceedings in disputes between franchising companies and franchisees.</li>\r\n</ul>\r\nPlease contact us to arrange a meeting, at which we will be happy to share our experience with you and guide you to success in your new path.', 'Franchising', '', 'publish', 'open', 'open', '', 'franchising', '', '', '2020-01-24 14:00:38', '2020-01-24 11:00:38', '', 0, 'https://www.porat.com/?p=3298', 0, 'post', '', 0),
(3299, 5, '2019-09-04 16:20:37', '2019-09-04 13:20:37', 'The law firm of Nir Porat &amp; Co accompanies franchise companies and franchise holders in a wide range of spheres relating to franchising. Our firm has considerable and comprehensive experience in franchising and the issues that accompany it, such as:\r\n<ul>\r\n 	<li>Drawing up founding documents between partners wanting to engage with franchising companies and acquire a franchise;</li>\r\n 	<li>Accompanying and preparing all relevant documents for the purchase and sale of active and new franchises;</li>\r\n 	<li>Registering trademarks with the Registrar of Trademarks;</li>\r\n 	<li>Drawing up a wide range of documents relating to franchises, such as: employment agreements, commercial rental agreements, engagement agreements with contractors and suppliers, and so forth;</li>\r\n 	<li>Mediation, arbitration and legal proceedings in disputes between franchising companies and franchisees.</li>\r\n</ul>\r\nPlease contact us to arrange a meeting, at which we will be happy to share our experience with you and guide you to success in your new path.', 'Franchising', '', 'inherit', 'closed', 'closed', '', '3298-revision-v1', '', '', '2019-09-04 16:20:37', '2019-09-04 13:20:37', '', 3298, 'https://www.porat.com/3298-revision-v1/', 0, 'revision', '', 0),
(3300, 3, '2016-07-25 11:58:42', '2016-07-25 08:58:42', 'Many potential franchisees contact us to ask just how to start out:\r\nHow to choose a franchising chain?\r\nIs it worth buying a new franchise, or perhaps taking over from a franchisee selling his rights?\r\nIs success assured?\r\nIs the cost of the franchise reasonable?\r\nAre the royalties that the chain is asking from the franchisee reasonable?\r\n\r\nThese and many other questions are very important, but before we can address them, we always make sure that the potential franchisees understand what they are getting into.\r\n<h2>Shortly about franchising in general</h2>\r\nIn a nutshell, the significance of buying a franchise is that the franchising company, which among other things manages the chain, is selling the franchisee a license to open and manage a branch under its brand. The conditions of the franchise are defined in a franchise agreement, in which the parties undertake a wide range of rights and obligations to each other.\r\n\r\nIt is important that the potential franchisee understands that the support network given by the franchising company also has disadvantages (alongside many advantages), the main one being that the franchisee is not in charge of his own world (for better and for worse), and that, unlike opening an independent business, the franchisee is subordinate to the franchising company.\r\n\r\nOn the other hand, this method also has many advantages. The franchisee does not have to learn how not to make errors at his own expense, and the franchising company provides him with a supportive envelope, close accompaniment, reputation, contacts, and considerable business know-how.\r\n\r\nAs mentioned, in the franchise agreement the franchisee undertakes to the franchising company to make a one-time payment for the franchise, and to set aside a fixed percentage of his regular income. In addition, the franchisee has to comply with the company\'s operational, administrative, and business requirements.\r\n<h2>How to ensure success as a franchisee</h2>\r\nIn order to take advantage of the full potential of the franchise method, the potential franchisee should do his “homework” with care, and pay attention, among other things, to the following issues:\r\n<ul>\r\n 	<li><strong><u>Choice of the relevant chain</u></strong> - the potential franchisee must ensure that the chain suits him on a personal level, that he believes in its products and enjoys using them. It is important to understand that the choice of chain has a weighty psychological aspect, and a franchisee who becomes the representative of a product in which he does not believe, and decides to engage with a franchising company only because of the \"easy\" terms of the franchise agreement - will probably not succeed in the long term. Furthermore, it is very important for there to be good chemistry between the managers of the franchising chain and the potential franchisee; as in any business partnership, the personal aspect is of decisive importance for the success of the business.</li>\r\n 	<li><strong><u>The experience of the franchising chain</u></strong> - we recommend choosing a franchising chain <strong>that has proven experience in the franchise field</strong>. In this context, it is important to clarify that although a chain may have many branches they may all be owned by it, and so this does not mean that the chain has experience in dealing with franchisees. On the other hand, it is important for the chain also to have \"owned\" branches, so that it can give the potential franchisee help as necessary, and share its experience when the potential franchisee has to cope with particular difficulties, and at the same time, know how to deal properly with the potential franchisee so as to achieve success together.</li>\r\n 	<li><strong><u>The market and its environment</u></strong> - there is no doubt that the presentations and flyers prepared by franchising companies for their potential franchisees are attractive, well produced, and promise the world. But it is not enough to be dazzled by them: we always recommend that our clients go \"out into the field\" and talk with a number of the chain\'s franchisees, go to the place where the branch will be opening, ask people whether there is a need for the product / the specific brand, and what they think about opening a branch of the chain at the intended site. Some franchisees even hire the services of a market research company to provide representative information for the particular area. In addition, it is necessary to check whether there are other branches of the franchising chain in the intended area / town, and whether the franchising chain intends to open more branches in the relevant area in the future.</li>\r\n 	<li><strong><u>Financial aspects</u></strong> - these can be broken down into two general components: <strong>(a) </strong>The funding aspect of the potential franchisee: how the investment will be financed, calculation of the anticipated gross and operational profit, anticipated return of investment, obtaining the financing required at each stage along the way, from purchase of the franchise to setting up a shareholders loan for the business if necessary;<strong>(b)</strong> The second aspect is the financial soundness of the franchising company. There is no point in engaging with a company that is not financially sound, and in certain cases it is necessary to ensure that the owners of the company are prepared to sign personal guarantees in favor of the potential franchisee. The identity of the company owners should be checked, and whether they have a good reputation in the market; check that the franchising company has a proven business model, and look at the turnover of franchisees in the chain, how many branches in the chain have closed, and the reasons that have led to these branches closing.</li>\r\n 	<li><strong><u>Intellectual property</u></strong> - the franchising company must be the owners of a registered trademark, if there is one, and must have proven experience in training franchisees, including having a book of procedures, training arrays in all fields relevant to the franchise, and employees with proven know-how in training and accompanying franchisees.</li>\r\n</ul>\r\nPlease note that this is information in a nutshell, and does not represent comprehensive legal advice. Potential franchisees who want to open a new business and minimize the risks involved are invited to <a href=\"/?page_id=520\">contact us</a> and arrange a consultation, during which we will be happy to share our considerable experience and guide them to success in their new franchising business.', 'Buying a franchise from a franchising chain', '', 'publish', 'open', 'open', '', 'buying-a-franchise-from-a-franchising-chain', '', '', '2021-02-08 17:49:07', '2021-02-08 14:49:07', '', 0, 'https://www.porat.com/?p=3300', 0, 'post', '', 0),
(3301, 5, '2019-09-04 16:22:19', '2019-09-04 13:22:19', 'Many potential franchisees contact us to ask just how to start out: How to choose a franchising chain? Is it worth buying a new franchise, or perhaps taking over from a franchisee selling his rights? Is success assured? Is the cost of the franchise reasonable? Are the royalties that the chain is asking from the franchisee reasonable? These and many other questions are very important, but before we can address them, we always make sure that the potential franchisees understand what they are getting into.\r\n\r\nIn a nutshell, the significance of buying a franchise is that the franchising company, which among other things manages the chain, is selling the franchisee a license to open and manage a branch under its brand. The conditions of the franchise are defined in a franchise agreement, in which the parties undertake a wide range of rights and obligations to each other. It is important that the potential franchisee understands that the support network given by the franchising company also has disadvantages (alongside many advantages), the main one being that the franchisee is not in charge of his own world (for better and for worse), and that, unlike opening an independent business, the franchisee is subordinate to the franchising company. On the other hand, this method also has many advantages. The franchisee does not have to learn how not to make errors at his own expense, and the franchising company provides him with a supportive envelope, close accompaniment, reputation, contacts, and considerable business know-how.\r\n\r\nAs mentioned, in the franchise agreement the franchisee undertakes to the franchising company to make a one-time payment for the franchise, and to set aside a fixed percentage of his regular income. In addition, the franchisee has to comply with the company\'s operational, administrative, and business requirements.\r\n\r\nIn order to take advantage of the full potential of the franchise method, the potential franchisee should do his “homework” with care, and pay attention, among other things, to the following issues:\r\n<ul>\r\n 	<li><strong><u>Choice of the relevant chain</u></strong> - the potential franchisee must ensure that the chain suits him on a personal level, that he believes in its products and enjoys using them. It is important to understand that the choice of chain has a weighty psychological aspect, and a franchisee who becomes the representative of a product in which he does not believe, and decides to engage with a franchising company only because of the \"easy\" terms of the franchise agreement - will probably not succeed in the long term. Furthermore, it is very important for there to be good chemistry between the managers of the franchising chain and the potential franchisee; as in any business partnership, the personal aspect is of decisive importance for the success of the business.</li>\r\n 	<li><strong><u>The experience of the franchising chain</u></strong> - we recommend choosing a franchising chain <strong><u>that has proven experience in the franchise field.</u></strong> In this context, it is important to clarify that although a chain may have many branches they may all be owned by it, and so this does not mean that the chain has experience in dealing with franchisees. On the other hand, it is important for the chain also to have \"owned\" branches, so that it can give the potential franchisee help as necessary, and share its experience when the potential franchisee has to cope with particular difficulties, and at the same time, know how to deal properly with the potential franchisee so as to achieve success together.</li>\r\n 	<li><strong><u>The market and its environment</u></strong> - there is no doubt that the presentations and flyers prepared by franchising companies for their potential franchisees are attractive, well produced, and promise the world. But it is not enough to be dazzled by them: we always recommend that our clients go \"out into the field\" and talk with a number of the chain\'s franchisees, go to the place where the branch will be opening, ask people whether there is a need for the product / the specific brand, and what they think about opening a branch of the chain at the intended site. Some franchisees even hire the services of a market research company to provide representative information for the particular area. In addition, it is necessary to check whether there are other branches of the franchising chain in the intended area / town, and whether the franchising chain intends to open more branches in the relevant area in the future.</li>\r\n 	<li><strong><u>Financial aspects</u></strong> - these can be broken down into two general components: <strong>(a) </strong>The funding aspect of the potential franchisee: how the investment will be financed, calculation of the anticipated gross and operational profit, anticipated return of investment, obtaining the financing required at each stage along the way, from purchase of the franchise to setting up a shareholders loan for the business if necessary;<strong>(b)</strong> The second aspect is the financial soundness of the franchising company. There is no point in engaging with a company that is not financially sound, and in certain cases it is necessary to ensure that the owners of the company are prepared to sign personal guarantees in favor of the potential franchisee. The identity of the company owners should be checked, and whether they have a good reputation in the market; check that the franchising company has a proven business model, and look at the turnover of franchisees in the chain, how many branches in the chain have closed, and the reasons that have led to these branches closing.</li>\r\n 	<li><strong><u>Intellectual property</u></strong> - the franchising company must be the owners of a registered trademark, if there is one, and must have proven experience in training franchisees, including having a book of procedures, training arrays in all fields relevant to the franchise, and employees with proven know-how in training and accompanying franchisees.</li>\r\n</ul>\r\nPlease note that this is information in a nutshell, and do not represent comprehensive legal advice. Potential franchisees who want to open a new business and minimize the risks involved are invited to contact us and arrange a meeting, at which we will be happy to share our considerable experience and guide them to success in their new business.', 'Buying a franchise from a franchising chain', '', 'inherit', 'closed', 'closed', '', '3300-revision-v1', '', '', '2019-09-04 16:22:19', '2019-09-04 13:22:19', '', 3300, 'https://www.porat.com/3300-revision-v1/', 0, 'revision', '', 0);
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(3302, 3, '2016-07-25 16:23:15', '2016-07-25 13:23:15', '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)', '', 'publish', 'open', 'open', '', 'opening-a-franchising-company-chain', '', '', '2020-12-03 11:56:00', '2020-12-03 08:56:00', '', 0, 'https://www.porat.com/?p=3302', 0, 'post', '', 0),
(3303, 5, '2019-09-04 16:23:48', '2019-09-04 13:23:48', '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\n<u> </u>\r\n\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', '', '', '2019-09-04 16:23:48', '2019-09-04 13:23:48', '', 3302, 'https://www.porat.com/3302-revision-v1/', 0, 'revision', '', 0),
(3304, 3, '2016-05-03 16:24:18', '2016-05-03 13:24:18', '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', '', 'publish', 'open', 'open', '', 'investment-funds', '', '', '2020-11-30 11:46:02', '2020-11-30 08:46:02', '', 0, 'https://www.porat.com/?p=3304', 0, 'post', '', 0),
(3305, 5, '2019-09-04 16:25:03', '2019-09-04 13:25:03', 'For all those in, or looking to get in to the wide array of possibilities of the investment funds industry, Nir Porat &amp; Co. 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 do we do differently?</strong>\r\n\r\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.\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', '', '', '2019-09-04 16:25:03', '2019-09-04 13:25:03', '', 3304, 'https://www.porat.com/3304-revision-v1/', 0, 'revision', '', 0),
(3306, 5, '2015-07-28 13:07:34', '2015-07-28 10:07:34', 'Legal opinions are legal documents that either state findings or conclusions that the law firm has come to, or recommend a course of action for a client. Legal opinions can be used for a number of purposes but the objective is often some peace of mind in situations with a lot of uncertainty, such as mergers and other transactions, the legality of certain business and activities in different jurisdictions, etc.\r\n\r\nWhile legal opinions should in no way replace thorough legal advice, they can be significantly faster and cheaper to obtain than a full length legal process, making them a both useful and important tool in instances when time is of the essence, as well as when looking to avoid unnecessary costs.\r\n\r\nWe can provide legal opinions in the following fields, just to name a few:\r\n<ul>\r\n 	<li>Commercial law;</li>\r\n 	<li>Real Estate law;</li>\r\n 	<li>Contract law;</li>\r\n 	<li>Inheritance laws;</li>\r\n 	<li>Intellectual Property law;</li>\r\n 	<li>Libel laws;</li>\r\n 	<li>Company incorporation in multiple jurisdictions;</li>\r\n 	<li>Regulation within several different fields (including financial and gaming), in multiple jurisdictions; and</li>\r\n 	<li>Labor law in multiple jurisdictions</li>\r\n</ul>\r\n&nbsp;\r\n\r\nDepending on what the legal opinion is related to, the time involved, as well as the exact cost for the legal opinion provided by our law firm may vary. However, we work hard at keeping all costs involved as low as possible, and always give you an all-inclusive quote for all the work involved up front, before starting any work.', 'Legal opinions', '', 'draft', 'open', 'open', '', '', '', '', '2019-09-04 16:26:21', '2019-09-04 13:26:21', '', 0, 'https://www.porat.com/?p=3306', 0, 'post', '', 0),
(3307, 5, '2019-09-04 16:26:21', '2019-09-04 13:26:21', 'Legal opinions are legal documents that either state findings or conclusions that the law firm has come to, or recommend a course of action for a client. Legal opinions can be used for a number of purposes but the objective is often some peace of mind in situations with a lot of uncertainty, such as mergers and other transactions, the legality of certain business and activities in different jurisdictions, etc.\r\n\r\nWhile legal opinions should in no way replace thorough legal advice, they can be significantly faster and cheaper to obtain than a full length legal process, making them a both useful and important tool in instances when time is of the essence, as well as when looking to avoid unnecessary costs.\r\n\r\nWe can provide legal opinions in the following fields, just to name a few:\r\n<ul>\r\n 	<li>Commercial law;</li>\r\n 	<li>Real Estate law;</li>\r\n 	<li>Contract law;</li>\r\n 	<li>Inheritance laws;</li>\r\n 	<li>Intellectual Property law;</li>\r\n 	<li>Libel laws;</li>\r\n 	<li>Company incorporation in multiple jurisdictions;</li>\r\n 	<li>Regulation within several different fields (including financial and gaming), in multiple jurisdictions; and</li>\r\n 	<li>Labor law in multiple jurisdictions</li>\r\n</ul>\r\n&nbsp;\r\n\r\nDepending on what the legal opinion is related to, the time involved, as well as the exact cost for the legal opinion provided by our law firm may vary. However, we work hard at keeping all costs involved as low as possible, and always give you an all-inclusive quote for all the work involved up front, before starting any work.', 'Legal opinions', '', 'inherit', 'closed', 'closed', '', '3306-revision-v1', '', '', '2019-09-04 16:26:21', '2019-09-04 13:26:21', '', 3306, 'https://www.porat.com/3306-revision-v1/', 0, 'revision', '', 0),
(3308, 3, '2016-03-07 16:26:54', '2016-03-07 13:26:54', '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=\"/?page_id=520\">contact us</a> for a consultation.', 'Maltese Citizenship', '', 'publish', 'open', 'open', '', 'maltese-citizenship', '', '', '2020-11-30 11:25:00', '2020-11-30 08:25:00', '', 0, 'https://www.porat.com/?p=3308', 0, 'post', '', 0),
(3309, 5, '2019-09-04 16:27:36', '2019-09-04 13:27:36', 'The European Union has become since its creation one of the major influential and strongest markets and it now encompasses 28 countries. In terms of numbers, The EU is in prime position when it comes to global trade and thus remains an attractive region for business.\r\n\r\nWith such economic strength and potential, many individuals and companies wish to invest within its borders and to improve their competitiveness.\r\n\r\nAs a consequence, some of EU states members offer different schemes in which investors – both privately or via corporations – can become EU citizens and enjoy significant benefits which arise from both EU directives and the relevant member state’s laws and regulations.\r\n\r\nOne of the most attractive schemes within the EU is the one in Malta, as the country is considered to be an emerging market among the EU member states and has a large infrastructure for foreign business owners and expats in the country.\r\n<h2>About the program</h2>\r\nThe Individual Investor Program (IIP) is a modern citizenship by investment program aimed at ultra-high net individuals and their families worldwide. The IIP scheme offers a citizenship for foreigners in Malta.\r\n<h2>Why Malta?</h2>\r\n<ul>\r\n 	<li>Great location between Europe, Africa and the Middle East with excellent air links;</li>\r\n 	<li>A respected EU state;</li>\r\n 	<li>English as an official language (alongside Maltese);</li>\r\n 	<li>EU citizenship which gives right of establishment in all 28 EU countries;</li>\r\n 	<li>Visa free travel to more than 160 countries including the US;</li>\r\n 	<li>Rank first among other citizenship programs with 76/100 points.</li>\r\n 	<li>No restrictions on dual citizenship</li>\r\n</ul>\r\n&nbsp;\r\n<h2>Requirements</h2>\r\n1. The IIP firstly requires an economic investment (Contribution) on behalf of the applicant and his relatives or dependants as follows:\r\n<ul>\r\n 	<li>a. For main applicant a Contribution of €650,000 ;</li>\r\n 	<li>b. For a spouse and for each child under 18 years of age an additional Contribution of €25,000; and/or,</li>\r\n 	<li>c. For children between 18 and 26 and for parents above 55 years of age a Contribution of €50,000;</li>\r\n</ul>\r\n&nbsp;\r\n\r\n2. Additionally, ALL of the following investments (Investments) and other obligations must be satisfied:\r\n<ul>\r\n 	<li>a. 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);</li>\r\n 	<li>b. Investment of €150,000 in a prescribed investment as required by Identity Malta Agency and which must be held for five years or more;</li>\r\n 	<li>c. Global Insurance policy with medical expense cover amounting to €50,000 for each applicant;</li>\r\n 	<li>d. Residence of Malta for one year prior to the certificate of naturalization being issued;</li>\r\n 	<li>e. Oath;</li>\r\n 	<li>f. Clean background with no criminal record.</li>\r\n</ul>\r\n&nbsp;\r\n\r\n3. Due diligence fees: €7,500 for main applicant, €3,000 for spouses and other dependents; €5,000 for minors (13 to 17 only).\r\n\r\n&nbsp;\r\n<h2>Procedure</h2>\r\nIIP is operated by Identity Malta. Applications must be made by prescribed forms and accompanied by the appropriate fees (section 3 above) and additional documentation (i.e., birth certificate, passport copies and documents re applicant’s health).\r\n\r\nOnly once the application has been approved, the applicant will be required to comply with the Contribution and Investments obligations (see sections 1 - 2 above);\r\n\r\nA certificate of Naturalisation will be then granted within one year from the day of the submission of the application.\r\n<h2>Taxation</h2>\r\nIt should be noted that Maltese citizens must pay the following taxes:\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>A levy on Capital Gain Tax with some exemptions and allowances (rather than a full CGT)</li>\r\n 	<li>VAT at 18%</li>\r\n</ul>\r\n&nbsp;\r\n\r\nThese types of tax and rates might be different for citizens who are domiciled outside Malta.\r\nMalta has also double taxation treaties with more than 60 countries worldwide.\r\n<h2>How can we help you gain your Maltese passport through the program?</h2>\r\nNir Porat &amp; Co., Law Firm. is a multilingual law firm with professional staff consisting lawyers and interns with knowledge and experience of all aspects of international law, in various languages and jurisdictions.\r\n\r\nWe have a significant presence in the international arena as well as a large worldwide network of partners, agent 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.\r\n\r\nIf you are interested to hear more details in order to apply for the Citizenship program, do not hesitate to contact us for free consultation.', 'Maltese Citizenship', '', 'inherit', 'closed', 'closed', '', '3308-revision-v1', '', '', '2019-09-04 16:27:36', '2019-09-04 13:27:36', '', 3308, 'https://www.porat.com/3308-revision-v1/', 0, 'revision', '', 0),
(3310, 5, '2015-03-21 14:03:53', '2015-03-21 11:03:53', 'The business structure is of great importance to the success and life span of any business venture. There are however, many different business structures which may be applicable depending on various criteria, and therefore the decision of which structure would be the most beneficial is not always a simple one.\r\n\r\nWe at Nir Porat &amp; Co. offer corporate structuring services that are tailored for each specific client, according to their operations and activities, future plans, risk assessments, tax considerations, and other criteria and considerations.\r\n\r\nOur services include both international corporate structuring for companies operating worldwide and assistance with a small business corporate structure for startups and other developing entities. Either way, our goal is always to ensure the sustainability, productivity and profitability of your business.\r\n\r\nNir Porat &amp; Co. has helped countless businesses find their optimal structure, while utilizing our close working relationships with multiple authorities, corporations, and other entities worldwide. Our corporate structuring law firm offers services for both onshore and offshore jurisdictions and suits both single and multi-jurisdictional businesses.\r\n\r\nWe also provide consultation with respect to regulations and compliance in a multitude of jurisdictions, as well as services related to strategic alliances and joint ventures worldwide.\r\n\r\nOur law firm for also offers services related to corporate restructuring, which typically include presentation of several corporate restructuring strategies (much in the same way as we present different corporate structuring strategies), with the objective of maximizing the benefits of corporate restructuring.\r\n\r\nThe methods employed vary from case to case, of course, but some of the common services we provide, so that the objectives of corporate restructuring in each case are met, are liquidations, litigation, securities issues, purchases and sales of distressed assets, representation of different office holders in the company, bankruptcy, financial recapitalizations, contact with creditors (including in cases of competing credit claims), etc.\r\n\r\nOur services are suitable for situations also concerning mergers, acquisitions and corporate restructurings, as well as those interested only in restructuring and/or reorganization.\r\n\r\nWe represent clients from various industries in cases related to corporate restructuring, from startups and hi tech companies to private individuals, consumer product companies, media companies and many others and our superb international contacts make it possible to provide a global solution to our clients.', 'Corporate structuring', '', 'draft', 'open', 'open', '', '', '', '', '2019-09-04 16:29:35', '2019-09-04 13:29:35', '', 0, 'https://www.porat.com/?p=3310', 0, 'post', '', 0),
(3311, 5, '2019-09-04 16:29:35', '2019-09-04 13:29:35', 'The business structure is of great importance to the success and life span of any business venture. There are however, many different business structures which may be applicable depending on various criteria, and therefore the decision of which structure would be the most beneficial is not always a simple one.\r\n\r\nWe at Nir Porat &amp; Co. offer corporate structuring services that are tailored for each specific client, according to their operations and activities, future plans, risk assessments, tax considerations, and other criteria and considerations.\r\n\r\nOur services include both international corporate structuring for companies operating worldwide and assistance with a small business corporate structure for startups and other developing entities. Either way, our goal is always to ensure the sustainability, productivity and profitability of your business.\r\n\r\nNir Porat &amp; Co. has helped countless businesses find their optimal structure, while utilizing our close working relationships with multiple authorities, corporations, and other entities worldwide. Our corporate structuring law firm offers services for both onshore and offshore jurisdictions and suits both single and multi-jurisdictional businesses.\r\n\r\nWe also provide consultation with respect to regulations and compliance in a multitude of jurisdictions, as well as services related to strategic alliances and joint ventures worldwide.\r\n\r\nOur law firm for also offers services related to corporate restructuring, which typically include presentation of several corporate restructuring strategies (much in the same way as we present different corporate structuring strategies), with the objective of maximizing the benefits of corporate restructuring.\r\n\r\nThe methods employed vary from case to case, of course, but some of the common services we provide, so that the objectives of corporate restructuring in each case are met, are liquidations, litigation, securities issues, purchases and sales of distressed assets, representation of different office holders in the company, bankruptcy, financial recapitalizations, contact with creditors (including in cases of competing credit claims), etc.\r\n\r\nOur services are suitable for situations also concerning mergers, acquisitions and corporate restructurings, as well as those interested only in restructuring and/or reorganization.\r\n\r\nWe represent clients from various industries in cases related to corporate restructuring, from startups and hi tech companies to private individuals, consumer product companies, media companies and many others and our superb international contacts make it possible to provide a global solution to our clients.', 'Corporate structuring', '', 'inherit', 'closed', 'closed', '', '3310-revision-v1', '', '', '2019-09-04 16:29:35', '2019-09-04 13:29:35', '', 3310, 'https://www.porat.com/3310-revision-v1/', 0, 'revision', '', 0),
(3312, 5, '2015-03-21 16:30:08', '2015-03-21 13:30:08', 'The Corporate M&amp;A lawyers at Nir Porat &amp; Co. advise our clients on a variety of matters related to mergers and acquisitions, joint ventures, structuring and restructuring of companies and groups of companies, and other related issues.\r\n\r\nOur team has experience in both Israeli mergers and acquisitions, as well as cross-border international M&amp;A deals, including related issues concerning tax, employment, intellectual property issues etc.\r\n\r\nWe work closely with other firms and governmental agencies in multiple jurisdictions in order to accomplish smooth and swift  transactions for our clients, and are familiar with company acquisition and sales in a variety of industries, including the financial sector, real estate, media and marketing, internet, retail, consumer products and many others.\r\n\r\nWe assist with both shares acquisitions and assets acquisitions, and are able to advise you on the differences between these transactions types, their implications on tax issues, as well as legal aspects of both types of deals.\r\n\r\nOur goal is always to minimize the risks in deals involving company mergers and acquisitions by providing legal counsel related to any uncertainties related to acquisitions of companies and changes in their structures. The legal counsel we provide can be related to issues such as:\r\n<ul>\r\n 	<li>Compliance with domestic and foreign laws related to takeovers, mergers and company acquisitions.</li>\r\n 	<li>Optimizing company and tax structures in the most favorable way, in multiple jurisdictions, including offshore jurisdictions, where applicable.</li>\r\n 	<li>Compensation for executives and employees, as well as incentive plans and other labor law related matters.</li>\r\n 	<li>Due diligence on multiple parties involved in business mergers, sales and transactions.</li>\r\n 	<li>Drafting and negotiating sales and purchase agreements, in multiple languages if necessary.</li>\r\n</ul>\r\nAs we take pride in being engaged and providing support at every step of business mergers and acquisitions, we do offer many other services related to these areas, however, depending on your needs and plans for the future. We are able to offer tailor-made solutions both for very complex deals, involving many parties, as well as for small business mergers, including M&amp;A deals involving startups.\r\n\r\nWe do, however, recommend contacting us for a free consultation, with no obligations, in order to give each potential client an idea of the best course of action for them, as well as a comprehensive quote for all the costs involved in advance.', 'M&A Transactions', '', 'draft', 'open', 'open', '', 'm-and-a-transactions', '', '', '2019-09-04 16:33:04', '2019-09-04 13:33:04', '', 0, 'https://www.porat.com/?p=3312', 0, 'post', '', 0),
(3313, 5, '2019-09-04 16:31:09', '2019-09-04 13:31:09', 'The Corporate M&amp;A lawyers at Nir Porat &amp; Co. advise our clients on a variety of matters related to mergers and acquisitions, joint ventures, structuring and restructuring of companies and groups of companies, and other related issues.\r\n\r\nOur team has experience in both Israeli mergers and acquisitions, as well as cross-border international M&amp;A deals, including related issues concerning tax, employment, intellectual property issues etc.\r\n\r\nWe work closely with other firms and governmental agencies in multiple jurisdictions in order to accomplish smooth and swift  ransactions for our clients, and are familiar with company acquisition and sales in a variety of industries, including the financial sector, real estate, media and marketing, internet, retail, consumer products and many others.\r\n\r\nWe assist with both shares acquisitions and assets acquisitions, and are able to advise you on the differences between these transactions types, their implications on tax issues, as well as legal aspects of both types of deals.\r\n\r\nOur goal is always to minimize the risks in deals involving company mergers and acquisitions by providing legal counsel related to any uncertainties related to acquisitions of companies and changes in their structures. The legal counsel we provide can be related to issues such as:\r\n<ul>\r\n 	<li>Compliance with domestic and foreign laws related to takeovers, mergers and company acquisitions.</li>\r\n 	<li>Optimizing company and tax structures in the most favorable way, in multiple jurisdictions, including offshore jurisdictions, where applicable.</li>\r\n 	<li>Compensation for executives and employees, as well as incentive plans and other labor law related matters.</li>\r\n 	<li>Due diligence on multiple parties involved in business mergers, sales and transactions.</li>\r\n 	<li>Drafting and negotiating sales and purchase agreements, in multiple languages if necessary.</li>\r\n</ul>\r\nAs we take pride in being engaged and providing support at every step of business mergers and acquisitions, we do offer many other services related to these areas, however, depending on your needs and plans for the future. We are able to offer tailor-made solutions both for very complex deals, involving many parties, as well as for small business mergers, including M&amp;A deals involving startups.\r\n\r\nWe do, however, recommend contacting us for a free consultation, with no obligations, in order to give each potential client an idea of the best course of action for them, as well as a comprehensive quote for all the costs involved in advance.', 'M&A Transactions', '', 'inherit', 'closed', 'closed', '', '3312-revision-v1', '', '', '2019-09-04 16:31:09', '2019-09-04 13:31:09', '', 3312, 'https://www.porat.com/3312-revision-v1/', 0, 'revision', '', 0),
(3314, 5, '2019-09-04 16:31:37', '2019-09-04 13:31:37', 'The Corporate M&amp;A lawyers at Nir Porat &amp; Co. advise our clients on a variety of matters related to mergers and acquisitions, joint ventures, structuring and restructuring of companies and groups of companies, and other related issues.\r\n\r\nOur team has experience in both Israeli mergers and acquisitions, as well as cross-border international M&amp;A deals, including related issues concerning tax, employment, intellectual property issues etc.\r\n\r\nWe work closely with other firms and governmental agencies in multiple jurisdictions in order to accomplish smooth and swift  transactions for our clients, and are familiar with company acquisition and sales in a variety of industries, including the financial sector, real estate, media and marketing, internet, retail, consumer products and many others.\r\n\r\nWe assist with both shares acquisitions and assets acquisitions, and are able to advise you on the differences between these transactions types, their implications on tax issues, as well as legal aspects of both types of deals.\r\n\r\nOur goal is always to minimize the risks in deals involving company mergers and acquisitions by providing legal counsel related to any uncertainties related to acquisitions of companies and changes in their structures. The legal counsel we provide can be related to issues such as:\r\n<ul>\r\n 	<li>Compliance with domestic and foreign laws related to takeovers, mergers and company acquisitions.</li>\r\n 	<li>Optimizing company and tax structures in the most favorable way, in multiple jurisdictions, including offshore jurisdictions, where applicable.</li>\r\n 	<li>Compensation for executives and employees, as well as incentive plans and other labor law related matters.</li>\r\n 	<li>Due diligence on multiple parties involved in business mergers, sales and transactions.</li>\r\n 	<li>Drafting and negotiating sales and purchase agreements, in multiple languages if necessary.</li>\r\n</ul>\r\nAs we take pride in being engaged and providing support at every step of business mergers and acquisitions, we do offer many other services related to these areas, however, depending on your needs and plans for the future. We are able to offer tailor-made solutions both for very complex deals, involving many parties, as well as for small business mergers, including M&amp;A deals involving startups.\r\n\r\nWe do, however, recommend contacting us for a free consultation, with no obligations, in order to give each potential client an idea of the best course of action for them, as well as a comprehensive quote for all the costs involved in advance.', 'M&A Transactions', '', 'inherit', 'closed', 'closed', '', '3312-revision-v1', '', '', '2019-09-04 16:31:37', '2019-09-04 13:31:37', '', 3312, 'https://www.porat.com/3312-revision-v1/', 0, 'revision', '', 0),
(3315, 5, '2015-03-21 16:33:28', '2015-03-21 13:33:28', 'Our law firm represents foreign and Israeli startup companies and in such capacity we provide startups in various stages customized and hands-on legal advice and support. Our clients range from startups in the early developing stages to companies that have been publicly traded and sold or merged with other corporations.\r\n\r\nWe take pride in taking all startup related issues, big or small, seriously and personally, in order to provide all our clients efficient, yet personal legal services.\r\n\r\nWe aim to have an introductory meeting with all our clients looking for a business startup lawyer in order to understand their business, plans and needs better. Once we understand the goals and objectives of the client, we then develop a work plan for all legal and business matters at hand.\r\n\r\nOur knowledge in Israeli commercial law makes us a top choice for Israeli startup companies. Our practice is also involved in many cross-border transactions, due to our extensive international network, making Nir Porat &amp; Co. a suitable choice of law firm for a startup from any country, as well as startups looking to do business globally.\r\n<h2>Fields of practice</h2>\r\nOur law firm for startups has a multi-disciplinary approach in order to be able to assist startups with as many legal issues as possible. Our legal cross-practice advice includes areas such as Intellectual Property, Founders and Shareholders Rights, Angel Investments and additional Investment Rounds, Mergers and Acquisitions, Labor Law, Incentive Programs and Agreements, Corporate Structuring, International banking, Litigation and much more.\r\n\r\nA client in need of a startup company lawyer can choose to work with Nir Porat &amp; Co. for ongoing legal counsel, for a flat fee, or for individual transactions and cases, depending on the specific needs of the client.\r\n\r\nOur clients are active in all fields of the high tech industry, from software to marketing, Forex, to mobile, securities and others. In order to better understand each specific in which our clients operate, the lawyers at Nir Porat &amp; Co. strive to actively take part in said industry’s events, seminars and conferences.\r\n<h2>Fees</h2>\r\nIf you are looking for a startup business lawyer, please feel free to contact us in order to find out more about our legal packages for startups or to get a quote on a specific legal matter. All our fees are affordable and set specifically with startups in mind, but we still give you “the real deal” when it comes to the legal advice we give you.', 'Start ups', '', 'draft', 'open', 'open', '', '', '', '', '2019-09-04 16:34:04', '2019-09-04 13:34:04', '', 0, 'https://www.porat.com/?p=3315', 0, 'post', '', 0),
(3316, 5, '2019-09-04 16:34:04', '2019-09-04 13:34:04', 'Our law firm represents foreign and Israeli startup companies and in such capacity we provide startups in various stages customized and hands-on legal advice and support. Our clients range from startups in the early developing stages to companies that have been publicly traded and sold or merged with other corporations.\r\n\r\nWe take pride in taking all startup related issues, big or small, seriously and personally, in order to provide all our clients efficient, yet personal legal services.\r\n\r\nWe aim to have an introductory meeting with all our clients looking for a business startup lawyer in order to understand their business, plans and needs better. Once we understand the goals and objectives of the client, we then develop a work plan for all legal and business matters at hand.\r\n\r\nOur knowledge in Israeli commercial law makes us a top choice for Israeli startup companies. Our practice is also involved in many cross-border transactions, due to our extensive international network, making Nir Porat &amp; Co. a suitable choice of law firm for a startup from any country, as well as startups looking to do business globally.\r\n<h2>Fields of practice</h2>\r\nOur law firm for startups has a multi-disciplinary approach in order to be able to assist startups with as many legal issues as possible. Our legal cross-practice advice includes areas such as Intellectual Property, Founders and Shareholders Rights, Angel Investments and additional Investment Rounds, Mergers and Acquisitions, Labor Law, Incentive Programs and Agreements, Corporate Structuring, International banking, Litigation and much more.\r\n\r\nA client in need of a startup company lawyer can choose to work with Nir Porat &amp; Co. for ongoing legal counsel, for a flat fee, or for individual transactions and cases, depending on the specific needs of the client.\r\n\r\nOur clients are active in all fields of the high tech industry, from software to marketing, Forex, to mobile, securities and others. In order to better understand each specific in which our clients operate, the lawyers at Nir Porat &amp; Co. strive to actively take part in said industry’s events, seminars and conferences.\r\n<h2>Fees</h2>\r\nIf you are looking for a startup business lawyer, please feel free to contact us in order to find out more about our legal packages for startups or to get a quote on a specific legal matter. All our fees are affordable and set specifically with startups in mind, but we still give you “the real deal” when it comes to the legal advice we give you.', 'Start ups', '', 'inherit', 'closed', 'closed', '', '3315-revision-v1', '', '', '2019-09-04 16:34:04', '2019-09-04 13:34:04', '', 3315, 'https://www.porat.com/3315-revision-v1/', 0, 'revision', '', 0);
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(3317, 5, '2015-03-21 10:34:37', '2015-03-21 07:34:37', 'In our current, knowledge and technology based era, ideas, information and work processes are often a company’s most valuable asset, making them trade secrets well worth protecting. This is exactly why intellectual property law is one of the most vital laws for many high tech and knowledge based enterprises.\r\n\r\nAs many of our clients deal with legal matters related to intellectual property laws, the intellectual property lawyers at Nir Porat &amp; Co. frequently advice clients on how to protect intellectual property, sales and disposals of IP rights, agreements for intellectual property, due diligence for IP related matters and more.\r\n\r\nAn intellectual property rights lawyer at Nir Porat &amp; Co. can help a client with preventive measures related to protection of intellectual property rights, acquisitions of these rights, enforcing the rights obtained, managing them and exploiting them commercially in various ways. Due to the experience our lawyers have, including in very specific and unique industries, such as high tech, gaming, binary options, Forex and others, they can successfully advice on anything from very straightforward and simple matters related to protecting intellectual property to very complex cases, involving several parties, jurisdictions and more.\r\n\r\nFurthermore, our lawyers are familiar with both local Israeli law on intellectual property, as well as global intellectual property law, European intellectual property law and others, and have longstanding relationships with leading intellectual property attorneys and law firms worldwide, and are therefore able to help clients with intellectual property protection both worldwide and in specific jurisdictions, depending on the clients’ needs.\r\n\r\nIn case that the client needs legal services in related practice areas, such as agreements related to joint ventures, mergers and acquisitions, counsel and representation for commercial disputes, non-disclosure agreements and others, our lawyers are also able to offer that, in order to make the process easier, more cost-efficient and less time consuming for the clients.', 'Intellectual property', '', 'draft', 'open', 'open', '', '', '', '', '2019-09-04 16:35:23', '2019-09-04 13:35:23', '', 0, 'https://www.porat.com/?p=3317', 0, 'post', '', 0),
(3318, 5, '2019-09-04 16:35:23', '2019-09-04 13:35:23', 'In our current, knowledge and technology based era, ideas, information and work processes are often a company’s most valuable asset, making them trade secrets well worth protecting. This is exactly why intellectual property law is one of the most vital laws for many high tech and knowledge based enterprises.\r\n\r\nAs many of our clients deal with legal matters related to intellectual property laws, the intellectual property lawyers at Nir Porat &amp; Co. frequently advice clients on how to protect intellectual property, sales and disposals of IP rights, agreements for intellectual property, due diligence for IP related matters and more.\r\n\r\nAn intellectual property rights lawyer at Nir Porat &amp; Co. can help a client with preventive measures related to protection of intellectual property rights, acquisitions of these rights, enforcing the rights obtained, managing them and exploiting them commercially in various ways. Due to the experience our lawyers have, including in very specific and unique industries, such as high tech, gaming, binary options, Forex and others, they can successfully advice on anything from very straightforward and simple matters related to protecting intellectual property to very complex cases, involving several parties, jurisdictions and more.\r\n\r\nFurthermore, our lawyers are familiar with both local Israeli law on intellectual property, as well as global intellectual property law, European intellectual property law and others, and have longstanding relationships with leading intellectual property attorneys and law firms worldwide, and are therefore able to help clients with intellectual property protection both worldwide and in specific jurisdictions, depending on the clients’ needs.\r\n\r\nIn case that the client needs legal services in related practice areas, such as agreements related to joint ventures, mergers and acquisitions, counsel and representation for commercial disputes, non-disclosure agreements and others, our lawyers are also able to offer that, in order to make the process easier, more cost-efficient and less time consuming for the clients.', 'Intellectual property', '', 'inherit', 'closed', 'closed', '', '3317-revision-v1', '', '', '2019-09-04 16:35:23', '2019-09-04 13:35:23', '', 3317, 'https://www.porat.com/3317-revision-v1/', 0, 'revision', '', 0),
(3319, 5, '2015-03-21 14:05:49', '2015-03-21 11:05:49', 'Many companies operating in the online world or in a highly computerized environment, are in need of different software licensing agreements, since these agreements are an extremely important legal tool both for the owner and/or developer and/or seller of the software (licensor) on the one hand, and the receiver of the licensed software (licensee) on the other hand, for a variety of reasons. This is why we highly recommend engaging a legal professional for any type of software licensing transactions.\r\n\r\nOur lawyers can assist with virtually all types of licensing agreements, and can also offer consultation services on questions which licensors and licensees might have regarding software licensing issues. Often these issues can be complicated, since there are many different ways to license software, depending on the individual circumstances of each case.\r\n\r\nOur ultimate goal, however, is always to prepare the final agreements in a clear-cut and comprehendible manner. Our belief is that a simple, understandable agreement will pave the way for a better relationship between licensor and licensee, and may also help bring in more business for both parties. Therefore we made it our motto to always try to simplify the often complex matters at hand when working with software licenses.\r\n\r\nOur lawyers have experience with all types of software licensing matters in different industries, as we routinely work with software developers, resellers, online and land-based business, etc.\r\n\r\nThe lawyers who handle software licensing agreement issues at our firm combine a high quality of work with a cost efficient approach, in order to get provide quick and efficient services to our clients.', 'Licensing', '', 'draft', 'open', 'open', '', '', '', '', '2019-09-04 19:59:24', '2019-09-04 16:59:24', '', 0, 'https://www.porat.com/?p=3319', 0, 'post', '', 0),
(3320, 5, '2019-09-04 19:59:24', '2019-09-04 16:59:24', 'Many companies operating in the online world or in a highly computerized environment, are in need of different software licensing agreements, since these agreements are an extremely important legal tool both for the owner and/or developer and/or seller of the software (licensor) on the one hand, and the receiver of the licensed software (licensee) on the other hand, for a variety of reasons. This is why we highly recommend engaging a legal professional for any type of software licensing transactions.\r\n\r\nOur lawyers can assist with virtually all types of licensing agreements, and can also offer consultation services on questions which licensors and licensees might have regarding software licensing issues. Often these issues can be complicated, since there are many different ways to license software, depending on the individual circumstances of each case.\r\n\r\nOur ultimate goal, however, is always to prepare the final agreements in a clear-cut and comprehendible manner. Our belief is that a simple, understandable agreement will pave the way for a better relationship between licensor and licensee, and may also help bring in more business for both parties. Therefore we made it our motto to always try to simplify the often complex matters at hand when working with software licenses.\r\n\r\nOur lawyers have experience with all types of software licensing matters in different industries, as we routinely work with software developers, resellers, online and land-based business, etc.\r\n\r\nThe lawyers who handle software licensing agreement issues at our firm combine a high quality of work with a cost efficient approach, in order to get provide quick and efficient services to our clients.', 'Licensing', '', 'inherit', 'closed', 'closed', '', '3319-revision-v1', '', '', '2019-09-04 19:59:24', '2019-09-04 16:59:24', '', 3319, 'https://www.porat.com/3319-revision-v1/', 0, 'revision', '', 0),
(3321, 5, '2015-03-21 20:00:12', '2015-03-21 17:00:12', 'One of the niches our law firm offers services for is the telecommunications and mobile industry. Our professional lawyers have worked with several market leading companies in these industries, and therefore have a broad and unique understanding of the legal and commercial issues companies in these industries face.\r\n\r\nWe also operate a global network that provides valuable assistance in cases of global transactions, thus enabling us to provide our clients with everything that they might require, across several different legal disciplines and jurisdictions.\r\n\r\nSome of the matters we can advise telecommunications and mobile clients in particular on are:\r\n<ul>\r\n 	<li>Regulatory matters in multiple jurisdictions.</li>\r\n 	<li>Litigation matters.</li>\r\n 	<li>Commercial contracts.</li>\r\n 	<li>Outsourcing transactions.</li>\r\n 	<li>Intellectual property matters.</li>\r\n 	<li>International banking.</li>\r\n 	<li>Antitrust matters.</li>\r\n 	<li>Labor law in multiple jurisdictions.</li>\r\n 	<li>Joint ventures.</li>\r\n 	<li>Mergers and acquisitions.</li>\r\n 	<li>Competition matters.</li>\r\n</ul>\r\n&nbsp;\r\n\r\nWe especially welcome new clients active in the telecommunications and mobile industry, and would be happy to explain what services we can offer companies of all sizes in this industry during a non-binding, free consultation with us.', 'Telecommunications and Mobile', '', 'draft', 'open', 'open', '', '', '', '', '2019-09-04 20:01:03', '2019-09-04 17:01:03', '', 0, 'https://www.porat.com/?p=3321', 0, 'post', '', 0),
(3322, 5, '2019-09-04 20:01:03', '2019-09-04 17:01:03', 'One of the niches our law firm offers services for is the telecommunications and mobile industry. Our professional lawyers have worked with several market leading companies in these industries, and therefore have a broad and unique understanding of the legal and commercial issues companies in these industries face.\r\n\r\nWe also operate a global network that provides valuable assistance in cases of global transactions, thus enabling us to provide our clients with everything that they might require, across several different legal disciplines and jurisdictions.\r\n\r\nSome of the matters we can advise telecommunications and mobile clients in particular on are:\r\n<ul>\r\n 	<li>Regulatory matters in multiple jurisdictions.</li>\r\n 	<li>Litigation matters.</li>\r\n 	<li>Commercial contracts.</li>\r\n 	<li>Outsourcing transactions.</li>\r\n 	<li>Intellectual property matters.</li>\r\n 	<li>International banking.</li>\r\n 	<li>Antitrust matters.</li>\r\n 	<li>Labor law in multiple jurisdictions.</li>\r\n 	<li>Joint ventures.</li>\r\n 	<li>Mergers and acquisitions.</li>\r\n 	<li>Competition matters.</li>\r\n</ul>\r\n&nbsp;\r\n\r\nWe especially welcome new clients active in the telecommunications and mobile industry, and would be happy to explain what services we can offer companies of all sizes in this industry during a non-binding, free consultation with us.', 'Telecommunications and Mobile', '', 'inherit', 'closed', 'closed', '', '3321-revision-v1', '', '', '2019-09-04 20:01:03', '2019-09-04 17:01:03', '', 3321, 'https://www.porat.com/3321-revision-v1/', 0, 'revision', '', 0),
(3323, 3, '2018-02-13 02:06:33', '2018-02-12 23:06:33', 'Nir Porat &amp; Co. offers a range of services within the fields of litigation, dispute resolution and arbitration, both for law suits in Israel and worldwide. Our Litigation Team can provide you with representation in legal proceedings for commercial matters, for both Commercial Litigation Law, Employment Law litigation, Real Estate litigation and other areas.\r\n\r\nDue to our extensive experience in dispute resolution we are both well equipped to achieve effective and fast resolutions with your objectives in mind, as well as give you legal advice in order to prevent and avoid litigation by using alternative dispute resolution methods (such as arbitration and mediation), if possible. Should a law suit be unavoidable, we also offer help with assessing the risks and chances, in order to choose the best possible course of action for each case.\r\n\r\nBoth local and international clients can benefit from our extensive knowledge of Israeli law and Israeli courts, making Nir Porat &amp; Co. a top choice for anyone in need of an Israeli litigation lawyer or a corporate litigation lawyer with experience with inter jurisdictional cases, including multinational international corporations facing a law suit in Israel.\r\n\r\nAnother forte of Nir Porat &amp; Co. is assisting clients who face a Forex law suit or Gaming Law Suit, involving regulation agencies such as Cysec, AMF, FCA, Consob, CFTC and BaFin, due to our broad knowledge of the Forex and Gaming markets and the common foreign legal environments for these industries.\r\n\r\nSome of the most common actions our business litigation lawyers handle are:\r\n<ul>\r\n 	<li>Commercial disputes</li>\r\n 	<li>Real Estate disputes</li>\r\n 	<li>Property damage disputes</li>\r\n 	<li>Employment disputes</li>\r\n 	<li>Conflict of interest disputes</li>\r\n 	<li>Unfair competition disputes</li>\r\n 	<li>Copyright disputes</li>\r\n 	<li>Disputes between shareholders</li>\r\n 	<li>Banking disputes</li>\r\n 	<li>Breach of contract disputes</li>\r\n 	<li>Trade secrets disputes</li>\r\n 	<li>Actions against office holders</li>\r\n 	<li>Class action law suits</li>\r\n 	<li>Liability cases</li>\r\n 	<li>Inheritance disputes</li>\r\n 	<li>Franchising, Development and Licensing contract disputes</li>\r\n 	<li>Defamation law suits</li>\r\n 	<li>Cases involving municipal offices</li>\r\n 	<li>Cases involving execution offices</li>\r\n</ul>\r\nAll the lawyers at our litigation law firm in Israel are fluent in both Hebrew and English, so international companies and individuals choosing to be represented by Nir Porat &amp; Co. will not need to find resources for translations and/or interpreting on their own. Our lawyers have excellent track records, in and out of court, and make sure to consult you as a client at every stage of the process, in order to give you a full overview of the proceedings.\r\n\r\nWe offer free consultations for all clients in need of a commercial litigation attorney, and a full disclosure regarding the costs for representation that you can expect.', 'Litigation', '', 'draft', 'open', 'open', '', 'litigation', '', '', '2020-01-24 14:04:16', '2020-01-24 11:04:16', '', 0, 'https://www.porat.com/?p=3323', 0, 'post', '', 0),
(3324, 5, '2019-09-04 20:02:17', '2019-09-04 17:02:17', 'Nir Porat &amp; Co. offers a range of services within the fields of litigation, dispute resolution and arbitration, both for law suits in Israel and worldwide. Our Litigation Team can provide you with representation in legal proceedings for commercial matters, for both Commercial Litigation Law, Employment Law litigation, Real Estate litigation and other areas.\r\n\r\nDue to our extensive experience in dispute resolution we are both well equipped to achieve effective and fast resolutions with your objectives in mind, as well as give you legal advice in order to prevent and avoid litigation by using alternative dispute resolution methods (such as arbitration and mediation), if possible. Should a law suit be unavoidable, we also offer help with assessing the risks and chances, in order to choose the best possible course of action for each case.\r\n\r\nBoth local and international clients can benefit from our extensive knowledge of Israeli law and Israeli courts, making Nir Porat &amp; Co. a top choice for anyone in need of an Israeli litigation lawyer or a corporate litigation lawyer with experience with inter jurisdictional cases, including multinational international corporations facing a law suit in Israel.\r\n\r\nAnother forte of Nir Porat &amp; Co. is assisting clients who face a Forex law suit or Gaming Law Suit, involving regulation agencies such as Cysec, AMF, FCA, Consob, CFTC and BaFin, due to our broad knowledge of the Forex and Gaming markets and the common foreign legal environments for these industries.\r\n\r\nSome of the most common actions our business litigation lawyers handle are:\r\n<ul>\r\n 	<li>Commercial disputes</li>\r\n 	<li>Real Estate disputes</li>\r\n 	<li>Property damage disputes</li>\r\n 	<li>Employment disputes</li>\r\n 	<li>Conflict of interest disputes</li>\r\n 	<li>Unfair competition disputes</li>\r\n 	<li>Copyright disputes</li>\r\n 	<li>Disputes between shareholders</li>\r\n 	<li>Banking disputes</li>\r\n 	<li>Breach of contract disputes</li>\r\n 	<li>Trade secrets disputes</li>\r\n 	<li>Actions against office holders</li>\r\n 	<li>Class action law suits</li>\r\n 	<li>Liability cases</li>\r\n 	<li>Inheritance disputes</li>\r\n 	<li>Franchising, Development and Licensing contract disputes</li>\r\n 	<li>Defamation law suits</li>\r\n 	<li>Cases involving municipal offices</li>\r\n 	<li>Cases involving execution offices</li>\r\n</ul>\r\nAll the lawyers at our litigation law firm in Israel are fluent in both Hebrew and English, so international companies and individuals choosing to be represented by Nir Porat &amp; Co. will not need to find resources for translations and/or interpreting on their own. Our lawyers have excellent track records, in and out of court, and make sure to consult you as a client at every stage of the process, in order to give you a full overview of the proceedings.\r\n\r\nWe offer free consultations for all clients in need of a commercial litigation attorney, and a full disclosure regarding the costs for representation that you can expect.', 'Litigation', '', 'inherit', 'closed', 'closed', '', '3323-revision-v1', '', '', '2019-09-04 20:02:17', '2019-09-04 17:02:17', '', 3323, 'https://www.porat.com/3323-revision-v1/', 0, 'revision', '', 0),
(3325, 3, '2018-08-05 15:08:12', '2018-08-05 12:08:12', 'Australia is one of the most attractive options for <a href=\"/?p=3818\">regulated cryptocurrency businesses</a>, as the country allows businesses to register as a Digital Currency Exchange (DCE) with the Australian Transaction Reports and Analysis Centre (AUSTRAC), the regulator for cryptocurrency businesses in the country.\r\nObtaining the DCE license is compulsory to all those offering cryptocurrency exchange activities in Australia since April 2018.\r\n\r\nPorat Group is proud to offer our clients a full set up and licensing package for the DCE license in Australia, following a successful case study which was completed with the first DCE licensee we worked with, who became fully registered and operational in 2018. (Naturally we have worked with additional clients since)\r\n<h2>What does our AUSTRAC DCE Licence package include?</h2>\r\nThe setup package will include incorporation of a local company, drafting, reviewing and submitting the license application package, liaising with AUSTRAC until a final decision is made on the application, as well as opening a bank account with a top tier bank in Australia.\r\n\r\nFor those who wish, our firm can also assist with the setup of suitable office space and the sourcing of qualified local representatives, such as local directors and employees, as well as legal and compliance services following grant of the license.\r\n<h2>About the AUSTRAC DCE license</h2>\r\nWithin the DCE license, you may offer your clients an online cryptocurrency exchange platform (where cryptocurrencies can be bought and sold). You are also permitted to function as as OTC trading desk for high value institutional clients. The DCE platform may also serve as an alternative payment solution and as additional means of depositing in cases of an existing online business.\r\n\r\nThe licensing process is rather straightforward and relatively fast, compared to many other jurisdictions where cryptocurrency exchanges can be licensed. The licensing process focuses on the shareholders and key personnel of the applicant, the proposed business model, as well as on an in depth AML / CTF risk assessment.\r\n\r\nThere are no applicable capital requirements to hold this license. The local physical presence is rather modest, consisting of setting a small local office and hiring a local representative. The ongoing reporting duties are moderate and consist of AML reporting, mainly focusing on suspicious transactions and certain types of transactions crossing a pre-defined reporting threshold.\r\n<h2>Interested in obtaining this license?</h2>\r\nPorat Group will be happy to assist you with everything you need, including an AUSTRAC license, in order to set up your crypto business in Australia. <a href=\"/?page_id=520\">Contact us</a> for a free quote, plan and to get started!', 'Digital Currency Exchange (DCE) with AUSTRAC', '', 'publish', 'open', 'open', '', 'digital-currency-exchange-dce-with-austrac', '', '', '2021-02-03 11:45:49', '2021-02-03 08:45:49', '', 0, 'https://www.porat.com/?p=3325', 0, 'post', '', 0),
(3326, 5, '2019-09-04 20:08:46', '2019-09-04 17:08:46', 'Australia is now open for crypto business, allowing you to register as a Digital Currency Exchange (DCE) with the Australian Transaction Reports and Analysis Centre (AUSTRAC). Obtaining the DCE license is compulsory to all those offering crypto currencies exchange activities in Australia since April 2018.\r\n\r\nOur firm is proud to offer our clients a full set up and licensing package for the DCE license, following a successful case study which has been completed with the first DCE licensee, now fully registered and fully operational. The setup will include incorporation of a local company, drafting, reviewing and submitting the license application package, liaising with AUSTRAC until final determination is made on the application and opening a bank account with a top tier bank. Our firm can also assist with the setup of suitable office space and the sourcing of qualified local representative.\r\n\r\nWithin the DCE license, you may offer to your clients an on-line cryptocurrency exchange platform (allowing you to buy and sell cryptocurrencies) and to function an OTC trading desk for high value institutional clients. The DCE platform may also serve as an alternative payment solution and as additional means of depositing in cases of an existing online business.\r\n\r\nThe licensing process is rather straightforward and relatively fast, focusing on the shareholders and key personnel of the applicant, the proposed business model and an in depth AML / CTF risk assessment.\r\n\r\nThere are no applicable capital requirements to hold this license.  The local physical presence is rather modest, consisting of setting a small local office and hiring a local representative. The ongoing reporting duties are moderate and consist of AML reporting, mainly suspicious transaction and certain type of transactions crossing a pre-defined reporting threshold.\r\n\r\nIn addition to the potential profits generated out of conversion rates differences, the DCE platform may also serve as an alternative payment solution and as an additional mean of deposit in cases of an existing online business.\r\n\r\nOur firm will be happy to assist you in setting up your crypto business in Australia.', 'Digital Currency Exchange (DCE) with AUSTRAC', '', 'inherit', 'closed', 'closed', '', '3325-revision-v1', '', '', '2019-09-04 20:08:46', '2019-09-04 17:08:46', '', 3325, 'https://www.porat.com/3325-revision-v1/', 0, 'revision', '', 0),
(3327, 3, '2018-08-27 10:09:17', '2018-08-27 07:09:17', 'European countries, and EU member countries within Europe, differ in their regulatory approach to crypto currencies. Therefore, in order to understand the current state of affairs with regards to regulating crypto currencies, it is necessary to enter into a state by state analysis. Prior to that, we shall examine the current status at the EU level.\r\n\r\nThe EU is yet to adopt a regulatory framework for crypto currency activities.\r\n\r\nHowever, within the EU, several member countries have decided to apply existing EU regulatory frameworks on crypto currency activities, while most EU members are still weighing their approach to these activities.\r\n\r\nAmongst those countries which have chosen to apply existing regulatory frameworks on crypto currency activities are Luxembourg and Germany.\r\n\r\n<u>Luxembourg</u> - exchanges may be licensed and regulated as either payment institutions or electronic money institution under the EU Payment Services Directive (PSD).\r\n\r\nOne 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.\r\n\r\nAnother 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\r\n<u>Germany</u> - German regulator BAFIN has expressed its view that crypto currencies activities may be licensed and regulated as either brokers, market makers or exchanges under the MIFID regulatory scheme.\r\n\r\nExisting 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\r\n<u>Poland</u> - Poland’s Central Statistical Office (GUS) has recognized the trading and mining of crypto currencies as an official economic activity. In practice, this decision means that companies active in the industry are now able to register with the agency.\r\n\r\nIn addition, in early 2017, a law proposal introduced a plan to establish a Central Database of Accounts under the direction of the Ministry of Finance, which would provide authorities rapid and easy access to information on the locations of certain funds and other liquid assets. The scope of the law includes also “entities that offer products or services that enable storage of authentication data required to access virtual currencies\". Basically, all covered entities will be required to notify authorities within 24 hours of the opening or closing of an account, or of any change in an account\'s information. This proposal represent Poland\'s attempt to regulate crypto currency activities.\r\n\r\n<u>Spain</u> - In 2014 the Ministry of Treasury issued a ruling that bitcoin will be treated as an electronic payment system for purposes of gambling law.\r\n\r\nTo this date, most EU member countries have not published their stand on how to treat crypto currency activities. Many of them relied on the EBA warning about the potential risks associated with crypto currency activities.\r\n\r\nThis is the status of Austria, Belgium, Cyprus, Greece, Hungary, Lithuania, the Netherlands, Portugal and Slovenia.\r\n\r\nSwitzerland was one of the first countries to license crypto currencies 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\r\nAs we can see, the regulatory landscape in Europe varies when it comes to regulating crypto currencies, and given the booming of crypto currency nowadays, we can fairly expect to see more changes in this landscape, especially amongst EU member countries.', 'European and EU regulation of Crypto Currencies (Digital Currencies)', '', 'publish', 'open', 'open', '', 'european-and-eu-regulation-of-crypto-currencies-digital-currencies', '', '', '2020-01-24 14:00:15', '2020-01-24 11:00:15', '', 0, 'https://www.porat.com/?p=3327', 0, 'post', '', 0),
(3328, 5, '2019-09-04 20:09:55', '2019-09-04 17:09:55', 'European countries, and EU member countries within Europe, differ in their regulatory approach to crypto currencies. Therefore, in order to understand the current state of affairs with regards to regulating crypto currencies, it is necessary to enter into a state by state analysis. Prior to that, we shall examine the current status at the EU level.\r\n\r\nThe EU is yet to adopt a regulatory framework for crypto currency activities.\r\n\r\nHowever, within the EU, several member countries have decided to apply existing EU regulatory frameworks on crypto currency activities, while most EU members are still weighing their approach to these activities.\r\n\r\nAmongst those countries which have chosen to apply existing regulatory frameworks on crypto currency activities are Luxembourg and Germany.\r\n\r\n<u>Luxembourg</u> - exchanges may be licensed and regulated as either payment institutions or electronic money institution under the EU Payment Services Directive (PSD).\r\n\r\nOne 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.\r\n\r\nAnother 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\r\n<u>Germany</u> - German regulator BAFIN has expressed its view that crypto currencies activities may be licensed and regulated as either brokers, market makers or exchanges under the MIFID regulatory scheme.\r\n\r\nExisting 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\r\n<u>Poland</u> - Poland’s Central Statistical Office (GUS) has recognized the trading and mining of crypto currencies as an official economic activity. In practice, this decision means that companies active in the industry are now able to register with the agency.\r\n\r\nIn addition, in early 2017, a law proposal introduced a plan to establish a Central Database of Accounts under the direction of the Ministry of Finance, which would provide authorities rapid and easy access to information on the locations of certain funds and other liquid assets. The scope of the law includes also “entities that offer products or services that enable storage of authentication data required to access virtual currencies\". Basically, all covered entities will be required to notify authorities within 24 hours of the opening or closing of an account, or of any change in an account\'s information. This proposal represent Poland\'s attempt to regulate crypto currency activities.\r\n\r\n<u>Spain</u> - In 2014 the Ministry of Treasury issued a ruling that bitcoin will be treated as an electronic payment system for purposes of gambling law.\r\n\r\nTo this date, most EU member countries have not published their stand on how to treat crypto currency activities. Many of them relied on the EBA warning about the potential risks associated with crypto currency activities.\r\n\r\nThis is the status of Austria, Belgium, Cyprus, Greece, Hungary, Lithuania, the Netherlands, Portugal and Slovenia.\r\n\r\nSwitzerland was one of the first countries to license crypto currencies 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\r\nAs we can see, the regulatory landscape in Europe varies when it comes to regulating crypto currencies, and given the booming of crypto currency nowadays, we can fairly expect to see more changes in this landscape, especially amongst EU member countries.', 'European and EU regulation of Crypto Currencies (Digital Currencies)', '', 'inherit', 'closed', 'closed', '', '3327-revision-v1', '', '', '2019-09-04 20:09:55', '2019-09-04 17:09:55', '', 3327, 'https://www.porat.com/3327-revision-v1/', 0, 'revision', '', 0),
(3329, 3, '2018-09-14 15:10:22', '2018-09-14 12:10:22', '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', '', 'publish', 'open', 'open', '', 'offshore-regulation-of-crypto-currencies', '', '', '2020-12-03 12:40:21', '2020-12-03 09:40:21', '', 0, 'https://www.porat.com/?p=3329', 0, 'post', '', 0),
(3330, 5, '2019-09-04 20:11:23', '2019-09-04 17:11:23', '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\nNir Porat &amp; Co., Law Firm 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', '', '', '2019-09-04 20:11:23', '2019-09-04 17:11:23', '', 3329, 'https://www.porat.com/3329-revision-v1/', 0, 'revision', '', 0),
(3331, 3, '2018-09-18 16:11:46', '2018-09-18 13:11:46', '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', '', 'publish', 'open', 'open', '', 'regulation-of-crypto-currencies-in-africa', '', '', '2021-01-28 10:58:41', '2021-01-28 07:58:41', '', 0, 'https://www.porat.com/?p=3331', 0, 'post', '', 0),
(3332, 5, '2019-09-04 20:12:13', '2019-09-04 17:12:13', 'The African continent have kept relatively quiet on crypto currency, except for one unique initiative, involving several African countries which came up with a joint initiative to offer crypto currencies.\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 crypto currency. 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.\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\nNir Porat &amp; Co., Law Firm 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.\r\n\r\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 Nir Porat &amp; Co., Law Firm for a free, non-binding consultation on the matter.', 'Regulation of Crypto Currencies in Africa', '', 'inherit', 'closed', 'closed', '', '3331-revision-v1', '', '', '2019-09-04 20:12:13', '2019-09-04 17:12:13', '', 3331, 'https://www.porat.com/3331-revision-v1/', 0, 'revision', '', 0);
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(3333, 3, '2018-09-19 16:05:38', '2018-09-19 13:05:38', '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', '', 'publish', 'open', 'open', '', 'regulation-of-crypto-currencies-in-asia-and-oceania', '', '', '2021-01-13 20:12:28', '2021-01-13 17:12:28', '', 0, 'https://www.porat.com/?p=3333', 0, 'post', '', 0),
(3334, 5, '2019-09-04 20:13:09', '2019-09-04 17:13:09', 'Asia and Oceania, home to some of the leading and emerging economies of the world,\r\n\r\nhave 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\nOur law firm 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 contact the Nir Porat &amp; Co., Law Firm team for a free and non-binding consultation to discuss this further.', 'Regulation of Crypto currencies in Asia and Oceania', '', 'inherit', 'closed', 'closed', '', '3333-revision-v1', '', '', '2019-09-04 20:13:09', '2019-09-04 17:13:09', '', 3333, 'https://www.porat.com/3333-revision-v1/', 0, 'revision', '', 0),
(3335, 3, '2017-09-19 20:13:30', '2017-09-19 17:13:30', 'The American continent is home to several major jurisdictions, starting with the US, which is the country to watch when it comes to most financial innovations and initiatives. Major economies such as Canada, Mexico, Brazil and Argentina need to be reckoned with as well.\r\n\r\nThe following is a short overview of the regulatory situation of cryptocurrencies in the Americas.\r\n\r\n<u>United States</u> - The United States is yet to come up with a comprehensive regulatory framework at Federal level, although US Congress held several hearings related to cryptocurrencies and recent reports hints towards possible federal proposal which may be debated soon. Still at Federal level, the Financial Crimes Enforcement Network (FinCEN) has already delineated the main actors of this industry and some broad principles to regulate them, starting with AML duties Imposed on various actors through the issuance of rulings and orders.\r\n\r\nIt 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\nIn the absence of a firm federal statement, the floor was left open to State level interpretations and initiatives. The first state to step in was the State of New York, by adopting a specific regime called \"Bitlicense\", with its final rules 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 crypto currencies activities.\r\n\r\n<u>Canada</u> – Canada has not taken any concrete steps towards regulating cryptocurrencies and reportedly cryptocurrency exchanges are not bound to any AML duties. Positive sign of acceptance can be found in a working paper published by the central bank of Canada in August 2016 suggesting that if should adoption of cryptocurrencies increase, it is likely to cause cryptocurrency exchange rates to be less volatile.\r\n\r\n<u>Brazil</u> - In Brazil, the Central Bank of Brazil has declared that it does not regulate cryptocurrencies, and has warned investors against the implications of such activity. On the other end, Brazilian tax authority have imposed a reporting duty of bitcoin holdings and payment of capital gains taxes for holders of bitcoin over certain value thresholds.\r\n\r\n<u>Mexico</u> - The Central Bank of Mexico held itself to warning investors against the risks of trading in cryptocurrencies.\r\n\r\n<u>Argentina</u> - In Argentina, while crypto currencies are not considered legal tender in the country, financial institutions as well as profit and non-profit entities are required to report all transactions involving crypto currencies on a monthly basis to the local Financial Intelligence Unit.\r\n\r\n<u>Ecuador</u> - has decided to launch its own digital currency initiative, which will be used as the country\' legal tender. In parallel, it has banned the use of all other cryptocurrencies. Since the legal tender of Ecuador is the US dollar, it has been stated that the country\' new digital currency will be equivalent and convertible to the US Dollar.\r\n\r\n<u>Bolivia</u> - In Bolivia, the Central Bank of Bolivia issued a ban against any currency or coins not issued or regulated by the government, including a list of cryptocurrencies, which are not allowed to be traded in its territory.\r\n\r\nAs the regulatory landscape for cryptocurrencies is still developing there will certainly be further changes, developments and more regulatory possibilities further on. The Porat Group team specializing in cryptocurrencies is constantly keeping up to date with all these changes and will be amending our website to reflect these changes, when significant, as well.\r\n\r\nPorat Group has a team dedicated specifically to the cryptocurrency industry and was one of the first law firms to offer legal services, such as regulation services, for this industry. Our lawyers have all the necessary knowledge for handling regulation processes in various jurisdictions worldwide, including in the Americas.\r\n\r\nOur commitment to the cryptocurrency industry is also manifested in the fact that we accept payments in several cryptocurrencies in return for the provision of our legal services, be they related to the cryptocurrency industry or not.\r\n\r\nWe welcome all business owners who are active in the cryptocurrency field and are interested in knowing more about regulating their business and/or their product to contact us for a free and non-binding consultation in order to find out more.', 'Regulation of crypto Currencies in the Americas', '', 'publish', 'open', 'open', '', 'regulation-of-crypto-currencies-in-the-americas', '', '', '2021-02-05 08:25:03', '2021-02-05 05:25:03', '', 0, 'https://www.porat.com/?p=3335', 0, 'post', '', 0),
(3336, 5, '2019-09-04 20:13:56', '2019-09-04 17:13:56', 'The American continent is home several major jurisdictions starting with the US which is the country to watch when it comes to financial innovations and initiatives. Major economies such as Canada, Mexico, Brazil and Argentina need to be reckoned as well.\r\n\r\n<u>United States</u> - The United States is yet to come up with a comprehensive regulatory framework at Federal level, although US Congress held several hearing related to crypto currencies and recent reports hints towards possible federal proposal which may be debated soon. Still at Federal level, the Financial Crimes Enforcement Network (FinCEN) has already delineated the main actors of this industry and some broad principles to regulate them, starting with AML duties Imposed on various actors through the issuance of rulings and orders.\r\n\r\nIt 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\nIn the absence of a firm federal statement, the floor was left open to State level interpretations and initiatives. The first state to step in was the State of New York, by adopting a specific regime called \"Bitlicense\", with its final rules 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 crypto currencies activities.\r\n\r\n<u>Canada</u> – Canada has not taken any concrete steps towards regulating crypto currencies and reportedly crypto currencies exchanges are not bound to any AML duties. Positive sign of acceptance can be found in a working paper published by the central bank of Canada in August 2016 suggesting that if should adoption of crypto currencies increase, it is likely to cause crypto currencies exchange rates to be less volatile.\r\n\r\n<u>Brazil</u> - In Brazil, the Central Bank of Brazil has declared that it does not regulate crypto currencies, and has warned investors against the implications of such activity. On the other end, Brazilian tax authority have imposed a reporting duty of bitcoin holdings and payment of capital gains taxes for holders of bitcoin over certain value thresholds.\r\n\r\n<u>Mexico</u> - The Central Bank of Mexico held itself to warning investors against the risks of trading in crypto currencies.\r\n\r\n<u>Argentina</u> - In Argentina, while crypto currencies are not considered legal tender in the country, financial institutions as well as profit and non-profit entities are required to report all transactions involving crypto currencies on a monthly basis to the local Financial Intelligence Unit.\r\n\r\n<u>Ecuador</u> - has decided to launch its own digital currency initiative, which will be used as the country\' legal tender. In parallel, it has banned the use of all other crypto currencies. Since the legal tender of Ecuador is the US dollar, it has been stated that the country\' new digital currency will be equivalent and convertible to the US Dollar.\r\n\r\n<u>Bolivia</u> - In Bolivia, the Central Bank of Bolivia issued a ban against any currency or coins not issued or regulated by the government, including a list of crypto currencies, which are not allowed to be traded in its territory.\r\n\r\nAs the regulatory landscape for crypto currencies is still developing there will certainly be further changes, developments and more regulatory possibilities further on. The Nir Porat &amp; Co., Law Firm team is constantly keeping up to date with all these changes and will be amending our website to reflect these changes, when significant, as well.\r\n\r\nOur law firm has a team dedicated specifically to the crypto currencies industry and was one of the first law firms to offer legal services, such as regulation services, for this industries. Our lawyers have all the necessary knowledge for handling regulation processes in various jurisdictions worldwide, including in the Americas.\r\n\r\nOur commitment to the crypto currency industry is also manifested in the fact that we accept payments in several crypto currencies in return for the provision of our legal services, be they related to the crypto currencies industry or not.\r\n\r\nWe welcome all business owners who are active in the crypto currencies field and are interested in knowing more about regulating their business and/or their product to contact us for a free and non-binding consultation in order to find out more.', 'Regulation of crypto Currencies in the Americas', '', 'inherit', 'closed', 'closed', '', '3335-revision-v1', '', '', '2019-09-04 20:13:56', '2019-09-04 17:13:56', '', 3335, 'https://www.porat.com/3335-revision-v1/', 0, 'revision', '', 0),
(3337, 3, '2016-04-04 09:15:57', '2016-04-04 06:15:57', 'An individual born to parents who are Israeli citizens (even if only one parent has Israeli citizenship) automatically receives Israeli citizenship and all the ancillary rights thereto, the first of which includes the right to stay and work in Israel.\r\n\r\nForeign citizens (not Israelis) are entitled to live and work in Israel provided that they meet the criteria enumerated in the law for such, the most common criteria of which is the fact that one is Jewish. Therefore, many foreign citizens are entitled to make “Aliyah” (immigrate) to Israel in accordance with the country’s unique Law of Return which prescribes that not only can Jews immigrate to Israel but their children and grandchildren are also entitled to immigrate to Israel and receive citizenship.\r\n\r\nNevertheless, problems can arise when a foreign resident has a problem proving his Jewish ancestry and that his forefathers were Jewish, or alternately when the country refuses to acknowledge his conversion.\r\nIn light of the fact that proving one’s Jewish heritage may be a complex process, in particular for an individual who does not speak Hebrew and who is not proficient with the laws of the State of Israel, we offer legal services assisting with this entire process.\r\n<h2>How can Porat Group assist you if you wish to obtain Israeli citizenship?</h2>\r\nWe offer consultations that clarify the entire process, as well as the requirements of the Israeli citizenship and immigration process, for those for whom it is not entirely clear. We also assist with the hands on filing of all necessary documents on your behalf, with preparing all application documents and also contact the relevant authorities in Israel, such as the Ministry of Interior, on your behalf (this can be done even if you reside overseas).\r\n\r\nTherefore, should you find yourself in a situation where you need legal assistance in order to obtain your Israeli citizenship, we suggest that you set up a free and non-binding consultation meeting and/or call (in the event that you do not reside in Israel), during the course of which we will evaluate your particular situation and come up with a customized action plan for you, depending on what steps you have already taken etc.\r\n\r\nWe do not offer only theoretical advice, but a personalized action plan and legal advice specific to your unique situation and status.', 'Immigration lawyers in Israel - Israeli Citizenship', '', 'publish', 'open', 'open', '', 'immigration-lawyers-in-israel-israeli-citizenship', '', '', '2021-02-03 11:53:26', '2021-02-03 08:53:26', '', 0, 'https://www.porat.com/?p=3337', 0, 'post', '', 0),
(3338, 5, '2019-09-04 20:16:56', '2019-09-04 17:16:56', 'As is known, an individual born to parents who are Israeli citizens (even if only one parent has Israeli citizenship) automatically receives Israeli citizenship and all the ancillary rights thereto, the first of which includes the right to stay and work in Israel. Foreign citizens (not Israelis) are entitled to live and work in Israel provided that they meet the criteria enumerated in the law for such, the most common criteria of which is the fact that one is Jewish. As indicated, many foreign citizens are entitled to make “Aliyah” (immigrate) to Israel in accordance with the Law of Return which prescribes that not only can Jews immigrate to Israel but their children and grandchildren are also entitled to immigrate to Israel and receive citizenship.\r\n\r\nNevertheless, problems can arise when a foreign resident has a problem proving his Jewish ancestry and that his forefathers were Jewish, or alternately when the country refuses to acknowledge his conversion.\r\n\r\nIn light of the fact that proving one’s Jewish heritage may be a complex process, in particular for an individual who does not speak Hebrew and who is not proficient with the laws of the State of Israel (since dealing with the State’s Authorities may be a Sisyphean task), we recommend that persons in this situation receive assistance from an attorney who has significant experience when handling applications of this type with the State’s Authorities, who possesses the ability to file the necessary documents on your behalf, who will prepare the relevant applications  and contact the Authority in your name, even if you reside overseas.\r\n\r\nTherefore, we suggest that you set up a consultation meeting and/or call (in the event that you do not reside in Israel), during the course of which we will evaluate your particular situation and come up with a customized action plan for you.\r\n\r\nAll the information mentioned above does not constitute a replacement for personal legal consultation.\r\n\r\n&nbsp;', 'Immigration lawyers in Israel - Israeli Citizenship', '', 'inherit', 'closed', 'closed', '', '3337-revision-v1', '', '', '2019-09-04 20:16:56', '2019-09-04 17:16:56', '', 3337, 'https://www.porat.com/3337-revision-v1/', 0, 'revision', '', 0),
(3339, 3, '2016-04-15 10:17:20', '2016-04-15 07:17:20', '<h1>Work and Stay Visas for Foreign Experts and/or Senior Managers (B-1)</h1>\r\nSince Israel has become known internationally as a \'start up nation\', many companies require that foreign experts and/or senior officers from different countries arrive in Israel for reasons related to working in Israel.\r\n\r\nAt times, those companies needs arise from the needs of companies who purchased them within the scope of an “exit” or otherwise, where they need to post senior officers and/or fill the existing void in the Israeli market with foreign experts who possess the knowledge and expertise needed that does not exist in Israel, but there are also cases where the need for foreign experts is due to the country’s needs and other cases where the reason is the international trade relations existing between the companies.\r\n\r\nTherefore, the Ministry of Interior (hereinafter: the “<strong>Ministry</strong>”) recently created a special track for foreign experts and senior officers. Within this scope of this track, the Ministry issues work and stay visas for the foreign experts and/or senior officers, for the duration of one year. It is possible to extend the visas for an overall period of 5 years and three months.\r\n<h2>Criteria</h2>\r\nIt is important to note that those same foreign experts/ senior officers must meet certain criteria in order to be a candidate for this track, which amongst other things include:\r\n<ol>\r\n 	<li>The salaries of the foreign experts/ senior officers <strong><u>must</u></strong> be at least twice the average salary in the economy (correct as of March 2016, 18, 246 Shekels per month);</li>\r\n 	<li>The foreign experts/ senior officers must possess a certain level of education and professionalism which are compatible with the grounds of the application for the visa to begin with;</li>\r\n 	<li>Their employment must be in the field of development and/or management;</li>\r\n 	<li>The foreign experts / senior officers are supposed to provide knowledge and experience, which does not exist in Israel, to the local team;</li>\r\n 	<li>The project for those companies must create new work positions in Israel.</li>\r\n</ol>\r\n<h2>About the process</h2>\r\nThe above and other considerations will be examined by the relevant factors when the final decision concerning each and every candidate shall be granted by the Ministry and in accordance with its discretion. It should be stressed that the Ministry has broad powers with respect to the subject matter, and as such, the Ministry may demand that an employer provide a guarantee in order to ensure the foreign expert’s departure (correct as of March 2016, the guarantee is 36,000 Shekels per worker).\r\n\r\nIn addition, it can request for the employer to open a bank account in Israel for the foreign expert, where the foreign expert’s salary will be wired.  In the event that the Israeli employer will request an extension of the visa for the foreign expert, the Ministry can request bank account statements for the previous year in order to ensure that the employer did indeed pay the foreign expert in accordance with the procedures.\r\n<h2>Multiple Entry Visas</h2>\r\nAfter successfully concluding the procedure of filing the application for a foreign expert/ senior officer, the embassy located in the foreign expert’s native country will issue for the foreign expert a temporary one time entry visa (up to one month) into Israel. After entering the borders of Israel, the petitioner will be required to arrive at the Ministry of Interior in order to file a type M visa (Multiple Entries) through which the petitioner can leave and enter in Israel, to the extent that he desires, during the course of his employment and stay in Israel.\r\n<h2>Important Points – Costs:</h2>\r\n<ol>\r\n 	<li>The cost for filing an initial application with the Ministry is 1,190 Shekels. This fee will not be returned to the employer even if his application to employ the foreign expert or senior officer has been rejected by the Ministry.</li>\r\n 	<li>As we noted above, in the event that the foreign expert has no academic education, it is reasonable to assume that the Ministry will require a deposit of 36,000 Shekels (correct as of March 2016) as a guarantee, and this amount will be returned to the employer when the foreign expert leaves the country and provided that the employer did not violate the terms of the employment visa for the expert, within 24 months from the deposit date.</li>\r\n 	<li>The cost of the annual employment – after receiving the employment visa from the Ministry. The employer is requested to pay the employment fee for the foreign expert in the amount of 9,675 Shekels. It should be noted that in the event that the employer will request to extend the petitioner’s employment for an additional year, he will be requested to pay the aforementioned fee once again. Nevertheless, it is important to know that in most cases, the Ministry provides an exemption for foreign experts with respect to this fee. This exemption will be provided at most for 2 senior officers, the CEO and one of the VP positions.</li>\r\n 	<li>The fee for the type M visa correct as of the date of this article is in the amount of 175 Shekels.</li>\r\n 	<li>In addition to the aforementioned cost, when filing the application for a B-1 visa, the employer will be required to pay an amount of 175 Shekels to the Ministry of Interior.</li>\r\n 	<li>It is important to indicate that the above noted costs are partial costs and are subject to change in accordance with the Ministry’s decision, from time to time (for example, notary and apostil and/or consulate authorizations, issuing a certificate of good character, medical authorizations, etc.).</li>\r\n 	<li>It is also important to note that in addition to the aforementioned, the Ministry requires that the foreign experts present a certificate of good character and authorizations with respect to their health, prior to their entry into Israel.</li>\r\n</ol>\r\n<h2>Summary</h2>\r\nAs we noted above, this procedure meets the requirements of the Israeli law regarding foreign experts and senior officer who are not Israeli residents. In general, the procedure should take approximately two months from the date of the initial filing of the application to the Ministry.\r\n<h1>Working Visa for Foreign Experts for a Period of up to 3 Months</h1>\r\nThe Ministry of Interior (hereinafter: the “<strong>Ministry</strong>”) permits an employer who requires an expert for a limited time to file a special application in accordance with the “foreign experts” procedure for a fixed period of up to three months. Within the framework of this application and as a preliminary requisite to file the application, the employer must present to the Ministry documents which attest to the foreign expert’s education from an academic institution or regarding his professional qualification as required for the relevant project.\r\n\r\nBelow you will find the details of the procedure in brief:\r\n<ul>\r\n 	<li>First, the employer must contact the Ministry and file a detailed application for the receipt of an employment visa which has precise details of the project, or the reasoning for the application, the terms of the employee’s employment, etc.</li>\r\n 	<li>Second, upon the receipt of the visa, the employer must contact the Population Authority in order to transfer the application to the Israeli Embassy located in the foreign expert’s native country.</li>\r\n 	<li>Third, the Israeli Embassy in the foreign expert’s native country will issue a temporary entry visa type B-1.</li>\r\n 	<li>After the foreign expert’s arrival in Israel, he will be issued a temporary working and stay visa for a period of three months, by the relevant Population Authority.</li>\r\n</ul>\r\n<h2>Important Points:</h2>\r\n<ol>\r\n 	<li>The foreign expert’s salary in the aforementioned track must be equal to the <strong>minimum wage in Israel.</strong></li>\r\n 	<li>It is not possible to file an application for the extension of the work and stay visa within the framework of this procedure.</li>\r\n 	<li>The employer must also handle the issuance of the entry and exit visa for the foreign expert since the relevant Population Authority has the entry visa which will be provided by the foreign expert in his native country which will be in effect for a one time entry only.</li>\r\n 	<li>The duration of the process is approximately three months.</li>\r\n</ol>\r\n<h1>Work and Stay Visas for Foreign Experts – 45 Days</h1>\r\nMany companies, and in particular those companies whose activities entail advanced technologies and operations in the field of High –Tech, require foreign experts for a specific project, such as for installing a machine that was manufactured overseas and is such that only the manufacturer knows how to assemble and install it.\r\n\r\nFor this purpose, the Ministry of Interior (hereinafter: the “<strong>Ministry</strong>”) allows for the filing of an application to employ a foreign expert for up to 45 days, in the accelerated track. The clear advantage with the accelerated track is that it is quick. In other words, it is possible to receive an employment visa within 8 business days. As aforementioned, the accelerated track is mainly designated for a specific solution of problems which may arise in any technological environment, including faults and breakage of the manufacturing machines.\r\n\r\nAn additional advantage with the accelerated track is that in this framework, an Israeli employer is required to provide a very limited amount of documents, affidavits and documents which can attest to his qualifications and verification of the foreign expert in order to execute the project imposed upon him, which significantly reduces the time required to file the initial application for the receipt of the visa.\r\n\r\nIn addition, upon the receipt of working visa from the visa department (in contrast to the regular track), the foreign expert can immediately arrive in Israel and begin his work, without him having to arrive to the Israeli Embassy in his native country. After the foreign expert arrives in Israel, he will be required to urgently transfer his passport to our office, and we will immediately contact the authority in order to complete the process.\r\n\r\nIt is important to note that the foreign expert shall not be permitted to commence his work until the aforementioned process has been completed and the temporary working and stay visa appears in his passport. It is important to note that in the event there is a need to divide the period, in other words the expert must arrive, for example, three times for 15 days each time during the course of one calendar year, it is possible to do so. Nevertheless, each time there is a need to refile the application in the subject matter.\r\n\r\nIt is important to note that the accelerated track was designated only for countries which have an exemption for entry visa for tourists, including: the United States, European Union member states, Japan, Australia, etc. Therefore, foreign experts from nations which require entry visas as a tourist, including China and India, cannot use this accelerated track.\r\n\r\nIn addition, by its mere nature, a visa received within the framework of the employer’s application in the “accelerated track” cannot be extended. Also note that filing an application in the accelerated track entails the payment of the fee which is calculated in accordance with the number of days it is necessary to for the foreign expert to stay in Israel.\r\n<h2>How Porat Group can help with these processes</h2>\r\nTherefore, in the event that you need an attorney who specializes in laws related to foreign workers and specialists and that can submit the necessary documents on your behalf, prepare the relevant applications, contact the Ministry of Interior and accompany you to meetings with them, we suggest that you set up a consultation meeting, where your specific needs will be discussed. Once we know more about your specific situation, we will be able to advise on what the most suitable course of action for your specific situation may be.\r\n<ul>\r\n 	<li>All the information mentioned above does not constitute a replacement for personal legal consultation.</li>\r\n</ul>', 'Immigration lawyers in Israel - Visas for Foreign Experts and Specialists', '', 'publish', 'open', 'open', '', 'immigration-lawyers-in-israel-working-visas-for-foreign-experts-or-specialists', '', '', '2021-02-08 18:33:09', '2021-02-08 15:33:09', '', 0, 'https://www.porat.com/?p=3339', 0, 'post', '', 0);
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(3340, 5, '2019-09-04 20:17:48', '2019-09-04 17:17:48', '<h1>Work and Stay Visas for Foreign Experts and/or Senior Managers (B-1)</h1>\r\nSince Israel has become known internationally as a “start – up” nation, many companies require that foreign experts and/or senior officers from different countries arrive in Israel for reasons related to working in Israel.\r\n\r\nAt times, those companies needs arise from the needs of companies who purchased them within the scope of an “exit” or otherwise, where they need to post senior officers and/or fill the existing void in the Israeli market with foreign experts who possess the knowledge and expertise needed that does not exist in Israel, but there are also cases where the need for foreign experts is due to the country’s needs and other cases where the reason is the international trade relations existing between the companies.\r\n\r\nTherefore, the Ministry of Interior (hereinafter: the “<strong>Ministry</strong>”) recently created a special track for foreign experts and senior officers. Within this scope of this track, the Ministry issues work and stay visas for the foreign experts and/or senior officers, for the duration of one year. It is possible to extend the visas for an overall period of 5 years and three months.\r\n\r\nIt is important to note that those same foreign experts/ senior officers must meet certain criteria in order to be a candidate for this track, which amongst other things include:\r\n<ol>\r\n 	<li>The salaries of the foreign experts/ senior officers <strong><u>must</u></strong> be at least twice the average salary in the economy (correct as of March 2016, 18, 246 Shekels per month);</li>\r\n 	<li>The foreign experts/ senior officers must possess a certain level of education and professionalism which are compatible with the grounds of the application for the visa to begin with;</li>\r\n 	<li>Their employment must be in the field of development and/or management;</li>\r\n 	<li>The foreign experts / senior officers are supposed to provide knowledge and experience, which does not exist in Israel, to the local team;</li>\r\n 	<li>The project for those companies must create new work positions in Israel.</li>\r\n</ol>\r\nThese and other considerations will be examined by the relevant factors when the final decision concerning each and every candidate shall be granted by the Ministry and in accordance with its discretion. It should be stressed that the Ministry has broad powers with respect to the subject matter, and as such, the Ministry may demand that an employer provide a guarantee in order to ensure the foreign expert’s departure (correct as of March 2016, the guarantee is 36,000 Shekels per worker). In addition, it can request for the employer to open a bank account in Israel for the foreign expert, where the foreign expert’s salary will be wired.  In the event that the Israeli employer will request an extension of the visa for the foreign expert, the Ministry can request bank account statements for the previous year in order to ensure that the employer did indeed pay the foreign expert in accordance with the procedures.\r\n\r\nMultiple Entry Visas\r\n\r\nAfter successfully concluding the procedure of filing the application for a foreign expert/ senior officer, the embassy located in the foreign expert’s native country will issue for the foreign expert a temporary one time entry visa (up to one month) into Israel. After entering the borders of Israel, the petitioner will be required to arrive at the Ministry of Interior in order to file a type M visa (Multiple Entries) through which the petitioner can leave and enter in Israel, to the extent that he desires, during the course of his employment and stay in Israel.\r\n\r\nImportant Points – Costs:\r\n<ol>\r\n 	<li>The cost for filing an initial application with the Ministry is 1,190 Shekels. This fee will not be returned to the employer even if his application to employ the foreign expert or senior officer has been rejected by the Ministry.</li>\r\n 	<li>As we noted above, in the event that the foreign expert has no academic education, it is reasonable to assume that the Ministry will require a deposit of 36,000 Shekels (correct as of March 2016) as a guarantee, and this amount will be returned to the employer when the foreign expert leaves the country and provided that the employer did not violate the terms of the employment visa for the expert, within 24 months from the deposit date.</li>\r\n 	<li>The cost of the annual employment – after receiving the employment visa from the Ministry. The employer is requested to pay the employment fee for the foreign expert in the amount of 9,675 Shekels. It should be noted that in the event that the employer will request to extend the petitioner’s employment for an additional year, he will be requested to pay the aforementioned fee once again. Nevertheless, it is important to know that in most cases, the Ministry provides an exemption for foreign experts with respect to this fee. This exemption will be provided at most for 2 senior officers, the CEO and one of the VP positions.</li>\r\n 	<li>The fee for the type M visa correct as of the date of this article is in the amount of 175 Shekels.</li>\r\n 	<li>In addition to the aforementioned cost, when filing the application for a B-1 visa, the employer will be required to pay an amount of 175 Shekels to the Ministry of Interior.</li>\r\n 	<li>It is important to indicate that the above noted costs are partial costs and are subject to change in accordance with the Ministry’s decision, from time to time (for example, notary and apostil and/or consulate authorizations, issuing a certificate of good character, medical authorizations, etc.).</li>\r\n 	<li>It is also important to note that in addition to the aforementioned, the Ministry requires that the foreign experts present a certificate of good character and authorizations with respect to their health, prior to their entry into Israel.</li>\r\n</ol>\r\nSummary\r\n\r\nAs we noted above, this procedure meets the requirements of the Israeli law regarding foreign experts and senior officer who are not Israeli residents. In general, the procedure should take approximately two months from the date of the initial filing of the application to the Ministry.\r\n\r\nTherefore, in the event that you need an attorney who specializes in laws related to foreign workers and experts and can submit the necessary documents on your behalf, prepare the relevant applications, contact the Ministry of Interior and accompany you to the meeting with the Ministry, we suggest that you set up a consultation meeting, during the course of which we will discuss your goals, and we will do our best to make sure those goals are met.\r\n\r\n&nbsp;\r\n<ul>\r\n 	<li>All the information mentioned above does not constitute a replacement for personal legal consultation.</li>\r\n</ul>\r\n&nbsp;\r\n<h1>Working Visa for Foreign Experts for a Period of up to 3 Months</h1>\r\nThe Ministry of Interior (hereinafter: the “<strong>Ministry</strong>”) permits an employer who requires an expert for a limited time to file a special application in accordance with the “foreign experts” procedure for a fixed period of up to three months. Within the framework of this application and as a preliminary requisite to file the application, the employer must present to the Ministry documents which attest to the foreign expert’s education from an academic institution or regarding his professional qualification as required for the relevant project.\r\n\r\nBelow you will find the details of the procedure in brief:\r\n<ul>\r\n 	<li>First, the employer must contact the Ministry and file a detailed application for the receipt of an employment visa which has precise details of the project, or the reasoning for the application, the terms of the employee’s employment, etc.</li>\r\n 	<li>Second, upon the receipt of the visa, the employer must contact the Population Authority in order to transfer the application to the Israeli Embassy located in the foreign expert’s native country.</li>\r\n 	<li>Third, the Israeli Embassy in the foreign expert’s native country will issue a temporary entry visa type B-1.</li>\r\n 	<li>After the foreign expert’s arrival in Israel, he will be issued a temporary working and stay visa for a period of three months, by the relevant Population Authority.</li>\r\n</ul>\r\n&nbsp;\r\n\r\nImportant Points:\r\n<ol>\r\n 	<li>The foreign expert’s salary in the aforementioned track must be equal to the <strong>minimum wage in Israel.</strong></li>\r\n 	<li>It is not possible to file an application for the extension of the work and stay visa within the framework of this procedure.</li>\r\n 	<li>The employer must also handle the issuance of the entry and exit visa for the foreign expert since the relevant Population Authority has the entry visa which will be provided by the foreign expert in his native country which will be in effect for a one time entry only.</li>\r\n 	<li>The duration of the process is approximately three months.</li>\r\n</ol>\r\n&nbsp;\r\n\r\nTherefore, in the event that you need an attorney who specializes in laws related to foreign workers and foreign experts who can submit the necessary documents on your behalf, tprepare the relevant applications, contact the Ministry of Interior and accompany you to the meeting with them, we suggest that you set up a consultation meeting, during the course of which we will discuss your needs and wishes, and we will do our outmost in order to help you achieve whatever goals you may have.\r\n\r\n&nbsp;\r\n<h1>Work and Stay Visas for Foreign Experts – 45 Days</h1>\r\nMany companies, and in particular those companies whose activities entail advanced technologies and operations in the field of High –Tech, require foreign experts for a specific project, such as for installing a machine that was manufactured overseas and is such that only the manufacturer knows how to assemble and install it.\r\n\r\nFor this purpose, the Ministry of Interior (hereinafter: the “<strong>Ministry</strong>”) allows for the filing of an application to employ a foreign expert for up to 45 days, in the accelerated track. The clear advantage with the accelerated track is that it is quick. In other words, it is possible to receive an employment visa within 8 business days. As aforementioned, the accelerated track is mainly designated for a specific solution of problems which may arise in any technological environment, including faults and breakage of the manufacturing machines.\r\n\r\nAn additional advantage with the accelerated track is that in this framework, an Israeli employer is required to provide a very limited amount of documents, affidavits and documents which can attest to his qualifications and verification of the foreign expert in order to execute the project imposed upon him, which significantly reduces the time required to file the initial application for the receipt of the visa.\r\n\r\nIn addition, upon the receipt of working visa from the visa department (in contrast to the regular track), the foreign expert can immediately arrive in Israel and begin his work, without him having to arrive to the Israeli Embassy in his native country. After the foreign expert arrives in Israel, he will be required to urgently transfer his passport to our office, and we will immediately contact the authority in order to complete the process.\r\n\r\nIt is important to note that the foreign expert shall not be permitted to commence his work until the aforementioned process has been completed and the temporary working and stay visa appears in his passport. It is important to note that in the event there is a need to divide the period, in other words the expert must arrive, for example, three times for 15 days each time during the course of one calendar year, it is possible to do so. Nevertheless, each time there is a need to refile the application in the subject matter.\r\n\r\nIt is important to note that the accelerated track was designated only for countries which have an exemption for entry visa for tourists, including: the United States, European Union member states, Japan, Australia, etc. Therefore, foreign experts from nations which require entry visas as a tourist, including China and India, cannot use this accelerated track.\r\n\r\nIn addition, by its mere nature, a visa received within the framework of the employer’s application in the “accelerated track” cannot be extended. Also note that filing an application in the accelerated track entails the payment of the fee which is calculated in accordance with the number of days it is necessary to for the foreign expert to stay in Israel.\r\n\r\nTherefore, in the event that you need an attorney who specializes in laws related to foreign workers and specialists and that can submit the necessary documents on your behalf, prepare the relevant applications, contact the Ministry of Interior and accompany you to meetings with them, we suggest that you set up a consultation meeting, where your specific needs will be discussed. Once we know more about your specific situation, we will be able to advise on what the most suitable course of action for your specific situation may be.\r\n\r\n&nbsp;\r\n<ul>\r\n 	<li>All the information mentioned above does not constitute a replacement for personal legal consultation.</li>\r\n</ul>', 'Immigration lawyers in Israel - Working visas for foreign experts or specialists', '', 'inherit', 'closed', 'closed', '', '3339-revision-v1', '', '', '2019-09-04 20:17:48', '2019-09-04 17:17:48', '', 3339, 'https://www.porat.com/3339-revision-v1/', 0, 'revision', '', 0),
(3341, 3, '2016-04-15 12:18:24', '2016-04-15 09:18:24', 'In contrast to many other countries throughout the world, including the United States, Poland, etc., the State of Israel permits the partner of an Israeli <strong><u>to live and work Israel without getting married</u></strong>.\r\n\r\nFor the purposes of arranging the foreign partner’s status, the Population and Immigration Authority (hereinafter: the “<strong>Authority</strong>”) will examine the essence of the relationship of the applicants.\r\n\r\nIt should be noted that also if the applicants get married and they have a marriage certificate, the Authority will still materially examine the relationship of the applicants, in other words, the applicants will have to prove the existence of the couple’s relationship in accordance with the Authority’s procedures.\r\n<h2>General information about the application process</h2>\r\nThe application must be filed with the Authority close to the Israeli couple’s residence.\r\n\r\nThe application must include two types of documents – (a) official documents from the Israeli native’s foreign partner’s native country which include: a certificate of good character, a birth certificate and a certificate attesting to the foreign partner’s status (single/ divorce/ widow), and all these documents need to be attached to an apostil authorization that needs to be verified by the Israeli consul overseas. In addition, the Authority requires that these documents be translated into Hebrew or English by an <strong><u>Israeli notary</u></strong>; (b) – documents that attest to the nature of the relationship, including letters or correspondence exchanged between the couple, pictures of the couple with their friends and/or family, documents attesting to the couple’s income, etc.\r\n\r\nAfter filing the application with the relevant documents, an interview will be set up for the couple in the Authority’s office. It should be noted that at times, the Authority will  request that the couple arrive at the “Nativ” offices located in Jerusalem, in order to examine an interim interview (this is especially common in cases where the foreign partner is from Eastern Europe).\r\n<h2>In the event of a successful application</h2>\r\nIn the event that the Authority approves the application (usually immediately after the interview), the Authority issues the foreign partner a type B-1 work and stay visa, which is valid for one year. This visa will be renewed at the end of each year for a period of three years.\r\n\r\nUpon the conclusion of the initial three years and in the absence of any preclusion, the Authority will upgrade the foreign partner’s status to a temporary resident (type A-5 visa) for one year, which shall be extended every year for a period of four years.\r\n\r\nIt is important to note that individuals who receive type A-5 visas, receive temporary identification card certificates which are in effect for one year and which are renewable. Holders of type A-5 visas are also permitted to work and stay in Israel since they are entitled to receive all rights from the National Insurance Fund, similar to all Israeli residents.\r\n\r\nAt the end of the process, the foreign partner will receive the status of a permanent resident in Israel.\r\n\r\nAs aforementioned, after seven years from the receipt of the initial visa (B-2) and in the absence of any preclusion upon the filing of the appropriate application, the foreign partner will be granted with permanent residency in Israel.\r\n<h2>Important Notes for Married Couples:</h2>\r\nIn the event that the couple is married, then the couple will go through a similar process to the one described above, with the following modifications:\r\n<ul>\r\n 	<li>A type B-1 visa will be granted for a period of six months to the foreign partner, and upon its expiration and after the application was received, the foreign partner’s status will be upgraded to an A/5 temporary resident for the duration of one year;</li>\r\n 	<li>The foreign partner must renew the visa every year for a period of four years;</li>\r\n 	<li>Approximately at the end of five years and in the absence of any preclusion, an application for citizenship may be filed with the Authority.</li>\r\n 	<li>It is important to note that the aforementioned track is also appropriate for same – sex partners, whether they were married overseas or not.</li>\r\n</ul>\r\nThe difference between residency and citizenship is embedded in the fact that a permanent resident will receive an identification card certificate which is accompanied by many rights granted to every Israeli citizen, inducing the receipt of a stipend from the National Insurance Institute, the right to work in any job he so desires, and excluding the right to vote and be elected to the Israeli Knesset. A foreign citizen who received Israeli citizenship can vote and be elected to the Israeli Knesset.\r\n\r\nIt is important to note that the immigration process for a foreign partner can be long and tedious, and there is no doubt that dealing with the State authorities can be Sisyphean and frustrating, Therefore, we recommend that you receive assistance from an attorney who has significant experience when handling applications of this type with the Authority, who possesses the ability to file the necessary documents on your behalf, who will prepare the relevant applications, contact the Authority in your name and accompany you during the process.\r\n\r\nWe suggest that you set up a consultation meeting with Porat Group, during the course of which we will discuss your specific situation and form an action plan suitable for your needs.\r\n<ul>\r\n 	<li>All the information mentioned above does not constitute a replacement for personal legal consultation.</li>\r\n</ul>', 'Immigration lawyers in Israel- Arranging the Status for a Partner who is not Israeli', '', 'publish', 'open', 'open', '', 'immigration-lawyers-in-israel-arranging-the-status-for-a-partner-who-is-not-israeli', '', '', '2021-02-08 18:43:11', '2021-02-08 15:43:11', '', 0, 'https://www.porat.com/?p=3341', 0, 'post', '', 0),
(3342, 5, '2019-09-04 20:18:51', '2019-09-04 17:18:51', 'In contrast to many other countries throughout the world, including the United States, Poland, etc., the State of Israel permits the partner of an Israeli <strong><u>to live and work Israel without getting married</u></strong>.\r\n\r\nFor the purposes of arranging the foreign partner’s status, the Population and Immigration Authority (hereinafter: the “<strong>Authority</strong>”) will examine the essence of the relationship of the applicants. It should be noted that also if the applicants get married and they have a marriage certificate, the Authority will still materially examine the relationship of the applicants, in other words, the applicants will have to prove the existence of the couple’s relationship in accordance with the Authority’s procedures. The application must be filed with the Authority close to the Israeli couple’s residence. The application must include two types of documents – (a) official documents from the Israeli native’s foreign partner’s native country which include: a certificate of good character, a birth certificate and a certificate attesting to the foreign partner’s status (single/ divorce/ widow), and all these documents need to be attached to an apostil authorization that needs to be verified by the Israeli consul overseas. In addition, the Authority requires that these documents be translated into Hebrew or English by an <strong><u>Israeli notary</u></strong>; (b) – documents that attest to the nature of the relationship, including letters or correspondence exchanged between the couple, pictures of the couple with their friends and/or family, documents attesting to the couple’s income, etc.\r\n\r\nAfter filing the application with the relevant documents, an interview will be set up for the couple in the Authority’s office. It should be noted that at times, the Authority will  request that the couple arrive at the “Nativ” offices located in Jerusalem, in order to examine an interim interview (this is especially common in cases where the foreign partner is from Eastern Europe). In the event that the Authority approves the application (usually immediately after the interview), the Authority issues the foreign partner a type B-1 work and stay visa, which is valid for one year. This visa will be renewed at the end of each year for a period of three years. Upon the conclusion of the initial three years and in the absence of any preclusion, the Authority will upgrade the foreign partner’s status to a temporary resident (type A-5 visa) for one year, which shall be extended every year for a period of four years. It is important to note that individuals who receive type A-5 visas, receive temporary identification card certificates which are in effect for one year and which are renewable. Holders of type A-5 visas are also permitted to work and stay in Israel since they are entitled to receive all rights from the National Insurance Fund, similar to all Israeli residents.\r\n\r\nAt the end of the process, the foreign partner will receive the status of a permanent resident in Israel.\r\n\r\nAs aforementioned, after seven years from the receipt of the initial visa (B-2) and in the absence of any preclusion upon the filing of the appropriate application, the foreign partner will be granted with permanent residency in Israel.\r\n\r\nImportant Notes for Married Couples:\r\n\r\nIn the event that the couple is married, then the couple will go through a similar process to the one described above, with the following modifications:\r\n<ul>\r\n 	<li>A type B-1 visa will be granted for a period of six months to the foreign partner, and upon its expiration and after the application was received, the foreign partner’s status will be upgraded to an A/5 temporary resident for the duration of one year;</li>\r\n 	<li>The foreign partner must renew the visa every year for a period of four years;</li>\r\n 	<li>Approximately at the end of five years and in the absence of any preclusion, an application for citizenship may be filed with the Authority.</li>\r\n 	<li>It is important to note that the aforementioned track is also appropriate for same – sex partners, whether they were married overseas or not.</li>\r\n</ul>\r\n&nbsp;\r\n\r\nThe difference between residency and citizenship is embedded in the fact that a permanent resident will receive an identification card certificate which is accompanied by many rights granted to every Israeli citizen, inducing the receipt of a stipend from the National Insurance Institute, the right to work in any job he so desires, and excluding the right to vote and be elected to the Israeli Knesset. A foreign citizen who received Israeli citizenship can vote and be elected to the Israeli Knesset.\r\n\r\nIt is important to note that the immigration process for a foreign partner can be long and tedious, and there is no doubt that dealing with the State authorities can be Sisyphean and frustrating, Therefore, we recommend that you receive assistance from an attorney who has significant experience when handling applications of this type with the Authority, who possesses the ability to file the necessary documents on your behalf, who will prepare the relevant applications, contact the Authority in your name and accompany you during the process.\r\n\r\nWe suggest that you set up a consultation meeting, during the course of which we will discuss your specific situation and form an action plan suitable for your needs.\r\n\r\n&nbsp;\r\n<ul>\r\n 	<li>All the information mentioned above does not constitute a replacement for personal legal consultation.</li>\r\n</ul>', 'Immigration lawyers in Israel- Arranging the Status for a Partner who is not Israeli', '', 'inherit', 'closed', 'closed', '', '3341-revision-v1', '', '', '2019-09-04 20:18:51', '2019-09-04 17:18:51', '', 3341, 'https://www.porat.com/3341-revision-v1/', 0, 'revision', '', 0),
(3345, 5, '2015-08-23 12:20:10', '2015-08-23 09:20:10', 'The country where our law firm is based, the State of Israel, is home to some of the best online marketing companies and online marketing professionals in the world, many of whom specialize in gaming.\r\n\r\nMany of the world’s leading gaming companies have therefore chosen to outsource all or parts of their marketing efforts to Israel, or to set up their own marketing department or company in the country. This often leads to the company’s stock prices soaring, as it is well known both within the gaming industry and in the financial industry that having marketing outsourced for gaming products, as well as other products to Israeli professionals leads to dramatically improved results and sales.\r\n\r\nSome of the marketing services provided for online marketing companies in Israel are:\r\n<ul>\r\n 	<li>Media buying</li>\r\n 	<li>Campaign management</li>\r\n 	<li>Email marketing</li>\r\n 	<li>SEO</li>\r\n 	<li>Media buying</li>\r\n 	<li>PPC</li>\r\n</ul>\r\n&nbsp;\r\n\r\nOur gaming lawyers can introduce clients to a range of companies with the very best reputation in the business, as well as help with all legal issues such a venture would entail. Our services are suitable both for companies who wish to outsource parts of their operations to Israel, as well as for companies who prefer to run the operations themselves, but from Israel.\r\n\r\nIn order to set up a marketing department or marketing company in Israel, it is generally necessary to incorporate a company in the country. Our law firm offers affordable packages for company incorporation and consultation for all aspects related to running an Israeli marketing company (including specifically with relations to gaming operations), and can additionally assist with matters involving corporate structure planning, tax issues, employment, within Israel and from abroad, relocation of management and/or employees to Israel, employee incentive plans, real estate related issues and more.\r\n\r\nOur law firm has already assisted several large and well known gaming companies to pursue this option successfully and our lawyers have been working with all matters related to the process for several years.\r\n\r\nAdditionally, we offer free consultations where we explain the entire process more in detail for clients interested in this option. Contact us today in order to find out how to proceed and if marketing your product from Israel could be worth your while.', 'Marketing in Israel', '', 'draft', 'open', 'open', '', '', '', '', '2019-09-04 20:20:54', '2019-09-04 17:20:54', '', 0, 'https://www.porat.com/?p=3345', 0, 'post', '', 0),
(3346, 5, '2019-09-04 20:20:54', '2019-09-04 17:20:54', 'The country where our law firm is based, the State of Israel, is home to some of the best online marketing companies and online marketing professionals in the world, many of whom specialize in gaming.\r\n\r\nMany of the world’s leading gaming companies have therefore chosen to outsource all or parts of their marketing efforts to Israel, or to set up their own marketing department or company in the country. This often leads to the company’s stock prices soaring, as it is well known both within the gaming industry and in the financial industry that having marketing outsourced for gaming products, as well as other products to Israeli professionals leads to dramatically improved results and sales.\r\n\r\nSome of the marketing services provided for online marketing companies in Israel are:\r\n<ul>\r\n 	<li>Media buying</li>\r\n 	<li>Campaign management</li>\r\n 	<li>Email marketing</li>\r\n 	<li>SEO</li>\r\n 	<li>Media buying</li>\r\n 	<li>PPC</li>\r\n</ul>\r\n&nbsp;\r\n\r\nOur gaming lawyers can introduce clients to a range of companies with the very best reputation in the business, as well as help with all legal issues such a venture would entail. Our services are suitable both for companies who wish to outsource parts of their operations to Israel, as well as for companies who prefer to run the operations themselves, but from Israel.\r\n\r\nIn order to set up a marketing department or marketing company in Israel, it is generally necessary to incorporate a company in the country. Our law firm offers affordable packages for company incorporation and consultation for all aspects related to running an Israeli marketing company (including specifically with relations to gaming operations), and can additionally assist with matters involving corporate structure planning, tax issues, employment, within Israel and from abroad, relocation of management and/or employees to Israel, employee incentive plans, real estate related issues and more.\r\n\r\nOur law firm has already assisted several large and well known gaming companies to pursue this option successfully and our lawyers have been working with all matters related to the process for several years.\r\n\r\nAdditionally, we offer free consultations where we explain the entire process more in detail for clients interested in this option. Contact us today in order to find out how to proceed and if marketing your product from Israel could be worth your while.', 'Marketing in Israel', '', 'inherit', 'closed', 'closed', '', '3345-revision-v1', '', '', '2019-09-04 20:20:54', '2019-09-04 17:20:54', '', 3345, 'https://www.porat.com/3345-revision-v1/', 0, 'revision', '', 0),
(3347, 3, '2016-03-21 14:21:06', '2016-03-21 11:21:06', 'The gaming lawyers at Porat Group have experience and knowledge related to multiple aspects related to the online gaming industry.\r\n\r\nHowever, one of the most sought-after fields we provide services for is gaming regulation and licensing for online gaming companies looking to get regulated in different jurisdictions worldwide, for which we utilize our vast multinational network of contacts in all the popular gaming jurisdictions.\r\n<h2>What can Porat Group offer our clients?</h2>\r\nTo begin with, we review the regulatory barriers and the gaming license requirements in each applicable jurisdiction. In cases where the client is not sure of which jurisdiction might be the most suitable, we offer consultation and guidance with respect to each of the jurisdictions that might be relevant.\r\n\r\nDue to many jurisdictions having strict rules in order to ensure rightful conduct by gaming operators (although the exact regulations vary depending on the jurisdiction), this step is very important.\r\n\r\nEach gaming operator must understand what is expected of them, as well as if they can follow all the mandatory regulations before starting the online gaming regulation process. This ensures cost efficiency and a swift process, and lays the ground for future operations in the chosen markets.\r\n\r\nIf you want to read more about the jurisdictions we offer gaming and casino license services for, note that we have presentations here on the website for the most common and popular jurisdictions. We recommend that you look through the presentations for the jurisdictions that interest you, for a general understanding of how to obtain a gaming license in a specific jurisdiction, as well as what distinguishes that jurisdiction from others.\r\n\r\nOnce we identify the correct jurisdiction, our firm will assist and lead you through the entire licensing process, including required documentation, contacts with the relevant authorities and legislations, ongoing services according to the selected jurisdiction, etc.\r\n\r\nSince online gambling license cost can be high for smaller gaming companies, we always keep our professional fees very reasonable and competitive.\r\n\r\nIt is worth noting that we can assist with licenses for all types of gaming, from an online poker license, to an Internet based casino license, lottery and betting licenses and so on.\r\n<h2>After you have your online gambling license</h2>\r\nOnce our clients have successfully obtained the licenses they need, we also offer legal services for compliance monitoring, consultations on how to best follow all the gaming and casino regulations and litigation and arbitration services in case you face a gaming related law suit in the future.\r\n\r\nRead more about these services on <a href=\"/?p=431\">our general Gaming page</a>.', 'Gaming regulation', '', 'publish', 'open', 'open', '', 'gaming-regulation', '', '', '2020-11-29 18:34:25', '2020-11-29 15:34:25', '', 0, 'https://www.porat.com/?p=3347', 0, 'post', '', 0),
(3348, 5, '2019-09-04 20:21:34', '2019-09-04 17:21:34', 'Our law firm has experience and knowledge in many aspects related to the online gaming industry.\r\n\r\nOne of the most sought-after fields we provide services for is gaming regulation and licensing for online gaming companies looking to get regulated in different jurisdictions worldwide, for which we utilize our vast multinational network of contacts in all the popular gaming jurisdictions.\r\n<h2>What can we offer our clients?</h2>\r\nTo begin with, we review the regulatory barriers and the gaming license requirements in each applicable jurisdiction. In cases where the client is not sure of which jurisdiction might be the most suitable, we offer consultation and guidance with respect to each of the jurisdictions that might be relevant.\r\n\r\nDue to many jurisdictions having strict rules in order to ensure rightful conduct by gaming operators (although the exact regulations vary depending on the jurisdiction), this step is very important.\r\n\r\nEach gaming operator must understand what is expected of them, as well as if they can follow all the mandatory regulations before starting the online gaming regulation process. This ensures cost efficiency and a swift process, and lays the ground for future operations in the chosen markets.\r\n\r\nIf you want to read more about the jurisdictions we offer gaming and casino license services for, note that we have presentations here on the website for the most common and popular jurisdictions. We recommend that you look through the presentations for the jurisdictions that interest you, for a general understanding of how to obtain a gaming license in a specific jurisdiction, as well as what distinguishes that jurisdiction from others.\r\n\r\nOnce we identify the correct jurisdiction, our firm will assist and lead you through the entire licensing process, including required documentation, contacts with the relevant authorities and legislations, ongoing services according to the selected jurisdiction, etc.\r\n\r\nSince online gambling license cost can be high for smaller gaming companies, we always keep our professional fees very reasonable and competitive.\r\n\r\nIt is worth noting that we can assist with licenses for all types of gaming, from an online poker license, to an Internet based casino license, lottery and betting licenses and so on.\r\n<h2>After you have your online gambling license</h2>\r\nOnce our clients have successfully obtained the licenses they need, we also offer legal services for compliance monitoring, consultations on how to best follow all the gaming and casino regulations and litigation and arbitration services in case you face a gaming related law suit in the future.\r\n\r\nRead more about these services on <a href=\"http://www.porat-lawfirm.com/practices/gaming/\">our general Gaming page</a>.', 'Gaming regulation', '', 'inherit', 'closed', 'closed', '', '3347-revision-v1', '', '', '2019-09-04 20:21:34', '2019-09-04 17:21:34', '', 3347, 'https://www.porat.com/3347-revision-v1/', 0, 'revision', '', 0),
(3349, 5, '2019-09-04 20:22:03', '2019-09-04 17:22:03', 'Our law firm has experience and knowledge in many aspects related to the online gaming industry.\r\n\r\nOne of the most sought-after fields we provide services for is gaming regulation and licensing for online gaming companies looking to get regulated in different jurisdictions worldwide, for which we utilize our vast multinational network of contacts in all the popular gaming jurisdictions.\r\n<h2>What can we offer our clients?</h2>\r\nTo begin with, we review the regulatory barriers and the gaming license requirements in each applicable jurisdiction. In cases where the client is not sure of which jurisdiction might be the most suitable, we offer consultation and guidance with respect to each of the jurisdictions that might be relevant.\r\n\r\nDue to many jurisdictions having strict rules in order to ensure rightful conduct by gaming operators (although the exact regulations vary depending on the jurisdiction), this step is very important.\r\n\r\nEach gaming operator must understand what is expected of them, as well as if they can follow all the mandatory regulations before starting the online gaming regulation process. This ensures cost efficiency and a swift process, and lays the ground for future operations in the chosen markets.\r\n\r\nIf you want to read more about the jurisdictions we offer gaming and casino license services for, note that we have presentations here on the website for the most common and popular jurisdictions. We recommend that you look through the presentations for the jurisdictions that interest you, for a general understanding of how to obtain a gaming license in a specific jurisdiction, as well as what distinguishes that jurisdiction from others.\r\n\r\nOnce we identify the correct jurisdiction, our firm will assist and lead you through the entire licensing process, including required documentation, contacts with the relevant authorities and legislations, ongoing services according to the selected jurisdiction, etc.\r\n\r\nSince online gambling license cost can be high for smaller gaming companies, we always keep our professional fees very reasonable and competitive.\r\n\r\nIt is worth noting that we can assist with licenses for all types of gaming, from an online poker license, to an Internet based casino license, lottery and betting licenses and so on.\r\n<h2>After you have your online gambling license</h2>\r\nOnce our clients have successfully obtained the licenses they need, we also offer legal services for compliance monitoring, consultations on how to best follow all the gaming and casino regulations and litigation and arbitration services in case you face a gaming related law suit in the future.\r\n\r\nRead more about these services on our general Gaming page.', 'Gaming regulation', '', 'inherit', 'closed', 'closed', '', '3347-revision-v1', '', '', '2019-09-04 20:22:03', '2019-09-04 17:22:03', '', 3347, 'https://www.porat.com/3347-revision-v1/', 0, 'revision', '', 0),
(3350, 5, '2015-03-21 19:22:19', '2015-03-21 16:22:19', 'Our firm provides ongoing legal and regulatory advice and services for lotteries, sweepstakes and other related activities. Our lawyers are highly experienced in the aspects of online gaming and regular gaming laws in multiple jurisdictions that deal with lotteries, and can therefore advise on the complex matters lottery and sweepstake related companies face.\r\n\r\nOn top of working directly with companies that arrange lotteries, we also offer consultation for companies who cooperate with lottery providers, with regards to matters such as marketing, operations, and development.\r\n<h2>Services provided</h2>\r\nSome of the services we can provide for clients and potential clients active within the lottery niche are:\r\n<ul>\r\n 	<li>Advice and comparisons regarding lottery regulation in several different jurisdictions.</li>\r\n 	<li>Company incorporation if needed.</li>\r\n 	<li>Drafting contracts with service providers and partners.</li>\r\n 	<li>Drafting rules and regulations for the lotteries and contests that comply with the law.</li>\r\n 	<li>Requesting exemptions for specific purposes from authorities and regulators if needed.</li>\r\n 	<li>Introductory services to banks and payment processors.</li>\r\n</ul>', 'Lotteries', '', 'draft', 'open', 'open', '', '', '', '', '2019-09-04 20:22:53', '2019-09-04 17:22:53', '', 0, 'https://www.porat.com/?p=3350', 0, 'post', '', 0),
(3351, 5, '2019-09-04 20:22:53', '2019-09-04 17:22:53', 'Our firm provides ongoing legal and regulatory advice and services for lotteries, sweepstakes and other related activities. Our lawyers are highly experienced in the aspects of online gaming and regular gaming laws in multiple jurisdictions that deal with lotteries, and can therefore advise on the complex matters lottery and sweepstake related companies face.\r\n\r\nOn top of working directly with companies that arrange lotteries, we also offer consultation for companies who cooperate with lottery providers, with regards to matters such as marketing, operations, and development.\r\n<h2>Services provided</h2>\r\nSome of the services we can provide for clients and potential clients active within the lottery niche are:\r\n<ul>\r\n 	<li>Advice and comparisons regarding lottery regulation in several different jurisdictions.</li>\r\n 	<li>Company incorporation if needed.</li>\r\n 	<li>Drafting contracts with service providers and partners.</li>\r\n 	<li>Drafting rules and regulations for the lotteries and contests that comply with the law.</li>\r\n 	<li>Requesting exemptions for specific purposes from authorities and regulators if needed.</li>\r\n 	<li>Introductory services to banks and payment processors.</li>\r\n</ul>', 'Lotteries', '', 'inherit', 'closed', 'closed', '', '3350-revision-v1', '', '', '2019-09-04 20:22:53', '2019-09-04 17:22:53', '', 3350, 'https://www.porat.com/3350-revision-v1/', 0, 'revision', '', 0),
(3385, 5, '2015-03-21 13:39:58', '2015-03-21 10:39:58', 'Many of our clients request offshore company services, for different reasons. We offer a range of services related to all aspects of offshore business needs, from managing, registering, conducting and operating offshore companies in foreign jurisdictions and more. Our aim is always to maximize the financial, legal, and tax benefits offshore company formations entail, without any requirement for the directors, shareholders or beneficial owners of the company to reside in the country in question.\r\n<h2>Benefits of offshore formations for companies</h2>\r\nOffshore companies formation can be utilized for a variety of commercial and private purposes - mainly related to wealth and tax planning, since most offshore incorporated companies are not required to pay local taxes on income that was derived from operations in offshore jurisdictions.\r\n\r\nMost offshore jurisdictions also keep all of their local registers confidential, which means information about the company and its directors, shareholders, beneficiaries etc. is not listed on public documents, helping maintain privacy at a high level.\r\n\r\nMany offshore jurisdictions also offer unsurpassed protection for the company’s assets and the reporting duties are minimal compared to many countries, as no annual return or audit is required. It may also be possible to operate businesses that require specific licenses, such as Forex businesses, from offshore jurisdictions without a local license where there is no such license for these activities in such jurisdictions.\r\n<h2>What we can help you with</h2>\r\nOur lawyers providing services within offshore business formation work with multiple offshore jurisdictions and have established an impressive network of contacts in all the relevant jurisdictions. Therefore they are well equipped to provide you with a tailor made solution and recommendation, whatever your needs and preferences may be.\r\n\r\nOnce a decision has been made by the client on a jurisdiction our lawyers also help you with practical offshore company formation services such as registering a company as well as any other services required by local law in the jurisdiction chosen. Their services include all documentation and administration needed, as well as legalization services by a lawyer as required, audit services and more.\r\n\r\nOn top of offshore companies formation we can also offer services related to offshore bank formation for clients who need bank accounts in offshore jurisdictions (for more information about our international banking services, please see our international banking page), making us the only services provider you need in order to start your offshore operations.\r\n\r\nFor more information on how to get started, please contact us in order to get a personalized recommendation on how to proceed.', 'Offshore Company Structuring', '', 'draft', 'open', 'open', '', '', '', '', '2019-09-04 20:40:47', '2019-09-04 17:40:47', '', 0, 'https://www.porat.com/?p=3385', 0, 'post', '', 0),
(3386, 5, '2019-09-04 20:40:16', '2019-09-04 17:40:16', '', 'Offshore Company Structuring', '', 'inherit', 'closed', 'closed', '', '3385-revision-v1', '', '', '2019-09-04 20:40:16', '2019-09-04 17:40:16', '', 3385, 'https://www.porat.com/3385-revision-v1/', 0, 'revision', '', 0);
