Jurisdictions, checked.
One file per jurisdiction: who regulates what, which licensed firms are still standing, recent fines and revocations, crypto rules, company setup and tax. Every claim links to its source and every file shows when we last reviewed it.
UAE
The UAE has several financial regulators. Onshore, the Central Bank (CBUAE) licenses banks, exchange houses, retail payment service providers, stored value facilities (SVFs) and payment-token firms. Its August 2026 register lists 25 national banks, 38 foreign banks, 38 retail payment service providers and 23 SVFs. Dubai's VARA regulates virtual assets in Dubai outside the DIFC and showed 57 active VASP licences on 8 October 2026. The DIFC (DFSA) and ADGM (FSRA) financial free zones run their own common-law regimes. A new Central Bank law (Federal Decree-Law No. 6 of 2025, in force 16 September 2025) brings platforms, dApps and protocols that facilitate financial activity inside the CBUAE perimeter and raises the maximum CBUAE penalty to AED 1 billion. Corporate tax is 9% on taxable income above AED 375,000, VAT is 5%, and qualifying free-zone income can be taxed at 0%. The FATF removed the UAE from its grey list on 23 February 2024, and the EU took it off its high-risk third-country list with effect from 5 August 2025.
12 firms tracked · reviewed 8 Oct 2026AsiaHong Kong
Hong Kong taxes companies on a territorial basis, with profits tax of 8.25% on the first HK$2 million and 16.5% above that for corporations, and a private limited company can be incorporated electronically with certificates normally issued within one hour. The hard part for foreign-owned companies is usually the bank account, not the incorporation: banks apply risk-based due diligence and often want evidence of real business activity and a Hong Kong or regional connection. Payments are regulated by the HKMA (stored value facility licences under the PSSVFO) and by Customs and Excise (Money Service Operator licences for remittance and money changing). Crypto exchanges need an SFC virtual asset trading platform licence: 13 platforms were on the SFC's licensed list as last updated on 29 May 2026. Fiat-referenced stablecoin issuance has needed an HKMA licence since 1 August 2025, and the first two licences were granted on 10 April 2026.
11 firms tracked · reviewed 8 Oct 2026AsiaSingapore
Singapore is a top-tier, MAS-regulated hub where payments and crypto firms need a Payment Services Act licence (money-changing, Standard or Major Payment Institution) and a real local presence. Since the S$3bn money-laundering case of 2023, supervision has tightened: on 4 July 2025 MAS imposed S$27.45m in composition penalties on nine financial institutions, and since 30 June 2025 Singapore-based firms serving only overseas customers with digital tokens must be licensed or cease. Company formation is fast and online through ACRA, but every company needs at least one locally resident director, and bank onboarding for foreign-owned companies is generally relationship-manager-led with enhanced due diligence. Tax is competitive: 17% headline corporate rate with partial and start-up exemptions, and GST at 9%. FATF's May 2026 mutual evaluation placed Singapore in regular follow-up.
12 firms tracked · reviewed 8 Oct 2026EULithuania
Lithuania is one of the EU's main licensing hubs for electronic money and payment institutions. Bank of Lithuania figures put the sector at 76 EMIs and 43 PIs at end-2024, and a Lithuanian licence can be passported across the EEA. Since 2023 the climate has shifted from fast licensing to tough enforcement: AML, safeguarding and reporting fines now come regularly, including €3.5m for Revolut Bank (April 2025) and €1.8m for ZEN.COM (December 2025). Licences were revoked in 2026 (Paytend Europe, AlphaPay). For crypto, Lithuania's MiCA transitional period ended on 31 December 2025. The old VASP registration route no longer works, and the Bank of Lithuania's licence list shows only four CASP licences.
12 firms tracked · reviewed 8 Oct 2026EUMalta
Malta is an EU and euro-area member, so an MFSA-licensed electronic money institution, payment institution or crypto-asset service provider can passport its services across the EEA. Its MiCA transitional period for existing virtual financial asset (VFA) firms ended on 30 June 2026, and the MFSA told firms without a CASP licence to wind down. The FATF placed Malta under increased monitoring in June 2021 and removed it in June 2022. Enforcement continues: the FIAU imposed €1.34 million in AML penalties in 2025, and in 2026 it concluded settlements with the Maltese payment firms MiFinity Malta and Em@ney. The headline corporate tax rate is 35%, but shareholder refunds usually bring the effective rate on trading profits to about 5%. Since 2025 there is also an optional final 15% regime (FITWI).
12 firms tracked · reviewed 8 Oct 2026EUCyprus
Cyprus is an EU/eurozone member where the Central Bank of Cyprus (CBC) licenses banks, electronic money institutions (EMIs) and payment institutions (PIs), and CySEC licenses investment firms (the large forex/CFD broker cluster) and, since 30 December 2024, crypto-asset service providers (CASPs) under MiCA. The MiCA transitional period for legacy CySEC-registered crypto firms ended on 1 July 2026, and KPMG Cyprus counted 12 Cyprus-authorised CASPs on ESMA's interim register as of June 2026. From 1 January 2026 corporate income tax rose from 12.5% to 15%, while defence contribution (SDC) on dividends fell from 17% to 5% and stamp duty was abolished. The CBC is tightening EMI/PI licensing: from 3 August 2026 applicants go through a paid pre-application stage, and it fined Payabl.Cy Ltd €350,000 in 2025 and Banque SBA's Cyprus branch €750,000 in 2026 for AML breaches. Banks have spent a decade shedding high-risk non-resident business, so foreign-owned companies should expect slow, substance-focused onboarding.
12 firms tracked · reviewed 8 Oct 2026More jurisdictions are being added: Seychelles, BVI, Cayman, Mauritius, Estonia, Georgia and others.