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From the Managing Director's desk

Preface - LAVECO Newsletter 2017/2.


The second edition of LAVECO’s 2017 Newsletter can’t compete with the benefits offered by the summer, but I’m sure it will contain one or two thoughts which may be worth pondering over as you kick pebbles on the beach. Our leading article comments on a particularly interesting contradiction. While a significant portion of our lives has moved to the internet over the last 10-20 years, the international company industry, or rather a section of the financial services industry, appears to be lagging way behind in adopting this trend. Are there, I wonder, suitable solutions to the challenges? Will the world of corporate service providers be able to satisfy these needs? What do you need to take into consideration in the first place when setting up a webshop?

We have written about Bulgaria several times in the columns of the LAVECO Newsletter, as the country with one of the lowest tax rates in the EU. In this edition, our short article merely highlights the main benefits. A new bank from Liechtenstein introduced themselves to us, offering their services to businessmen from all points of the globe. Although their main strength lies in real estate transactions, they are also more than capable of arranging the banking affairs for cross-border services. As for the question of which world currencies are most in demand, I am sure the majority of businessmen could provide the answer. However, our short article contains a number of facts which are not only interesting, but also significant for the world economy.

The CRS (Common Reporting Standard), that is the technical application of the automatic exchange of information, only comes into operation this year. Meanwhile, there is also another spin-off from the process which very few people have thought about. Our article draws attention to this, and at the same time highlights the warning signs and how the ddangers can be avoided. We recommend this short article, which really is worthy of serious consideration, to everybody.

The staff at LAVECO have not remained inactive. In May we particiapted at two imprtant international conferences. Numerous lawyers, solicitors, tax advisors and accountants listened with interest to our presentations in St. Petersburg and Kiev.
I would like to wish everybody a restful summer and a pleasant read. We hope that the summer holidays will help you and your family recharge the batteries, and that this favourable season will be full of positive experiences.

LAVECO Newsletter 2017/2. - Business is moving to the net

Kind regards

László Váradi

Managing Director