Hassans

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Hassans

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Firm profile for FinTech 2021

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FinTech 2021
FinTech

This firm is also ranked in:

Global 2021 Europe 2021 High Net Worth 2020

About

This content is provided by Hassans.

Number of partners worldwide: 37
Number of other lawyers worldwide: 44
Languages:Chinese (Cantonese and Mandarin), English, French, Hebrew, Italian, Portuguese, Spanish

Firm Overview:
Hassans International Law Firm Limited is a full-service law firm with specialisms in corporate and commercial, financial services, fintech, litigation, funds, gaming, property, private client, tax and shipping law. With offices in both Gibraltar and in Spain, Hassans aims to deliver a service consistent with old world values of customer care whilst constantly evolving to embrace new world technology to meet the urgency that today’s world demands. Together, Hassans and Gibraltar have comprehensive resources and a solid infrastructure to ensure that its legal advice can be executed efficiently. The firm's expertise extends beyond Gibraltar and covers key jurisdictions around the world. Hassans' clients are diverse but the firm's approach is consistent: to understand its clients, provide superior advice and get results. Many of the firm's private clients are highly successful entrepreneurs, with whom Hassans collaborates to help them grow and protect their assets. As well as individuals, Hassans acts for companies, from local businesses to Fortune 100 multinationals that operate in a number of jurisdictions. The firm uses innovative structures to save time and money. Hassans also advises financial institutions, including the major investment banks and insurance companies, enabling them to set up and run new entities and products. Hassans' status and expertise allows the firm to advise the Gibraltar Government on new laws; the firm has been instrumental in helping to develop local tax legislation and in 2014, aided the delivery of a new Companies Act and Insolvency Act; an important step for Gibraltar’s businesses, marking the firm out as a mature and modern marketplace. Hassans strives to help Gibraltar continue to develop as a sophisticated and well-regulated financial centre. The firm welcomes measures to prevent money laundering, including initiatives by the EU, Financial Action Task Force and OECD. To this end, the firm works together with regulators, in particular the Gibraltar Financial Services Commission, to ensure that Gibraltar is a leading and respected offshore financial centre.

Fintech Practice
With over 80 years’ experience, clients receive expertise on all matters related to fintech, DLT or crypto business. The Fintech team works closely with the firm’s established Financial Services practitioners to unite conventional finance practices with the rapidly-developing technology industry. With regard to clients in the blockchain and crypto space, Hassans are able to provide regulatory advice and assistance in obtaining a DLT licence and have experience in conducting token offerings from Gibraltar (both ICOs and STOs). The firm is also well-placed to advise on matters relating to data protection compliance, boasting a team who have been specialising in this area since the early 2000s.

Hassans are also able to generally advise on:
■ Company formation and management;
■ Tax (relating to the corporate structure, beneficial owners and/or employees);
■ Property and employment matters;
■ Litigation/arbitration; and Private client.

The firm's personal relationships with clients go beyond the standard relationship that many clients have with large firms. Hassans stands firmly behind all its clients and assists them in whatever the situation and whatever the problem. Clients will attest to the fact that Hassans are always ready, able and willing to assist. The firm's philosophy is to seek solutions and work through problematic and often complex situations which its clients may face.

Gibraltar continues to be positioned as a leading reputable jurisdiction from which Fintech and other technological businesses may operate. The local industry and professional expertise in Fintech and technological advancements provides an exceptional resource for DLT businesses to utilise. In addition, the legal, fiscal and regulatory environment are embracing and conducive to encouraging further growth in the application of blockchain technology to ever more real-world use cases. Hassans remains poised to continue playing its part in the advancement of this globally transformative technology.

Gibraltar is acknowledged as a robust, credible and efficiently regulated financial centre and an internationally tax compliant jurisdiction, with a strong reputation for high standards and integrity. On the first of January 2018 the Gibraltar Fintech industry took a significant leap forward. The jurisdiction made headlines worldwide by becoming one of the first jurisdictions to enact specific Distributed Ledger Technology (DLT) regulations.

Gibraltar’s DLT regulations, based on 9 core principles, marked a significant milestone for the jurisdiction and represent a turning point for the crypto industry as a whole. For observers with a keen interest in DLT, blockchain and crypto in general, it came as something of a shock, as the jurisdiction suddenly emerged as a major player – literally overnight. This milestone created the foundation for a robust regulatory framework for DLT and blockchain businesses to operate and flourish.

In March 2018, the government released its Token Regulation Policy Document with clear definitions on token types and their utility, and the myriad responsibilities of token issuance. The move was welcomed by investors, widely applauded by others within the crypto community and resulted in a surge of licence applications to the Gibraltar government. As with Gibraltar’s gaming industry, however, only the most trusted, top-tier applicants will be granted a coveted operating licence.

Recent matters:
■ Advising ATARI that intends to carry out a Token Sale. We have provided general legal advice on the legal and regulatory implications of undertaking this project and more particularly we have advised on Data Protection and Data privacy issues and KYC and AML issues. We are also assisting them with their token sale terms and conditions as well as their disclosures and legal disclaimers. We are also assisting ATARI in obtaining permissions from the Gibraltar Financial Services Commission to provide DLT services in or from Gibraltar.
■ Advised INX Limited, a Gibraltar private limited company, on their security token offering (STO) both within the EU under a fully prospectus under the Prospectus Directive and, together with McDermott Will & Emery (New York), in the U.S. with a Form F-1 Registration Statement currently filed in draft with the Securities and Exchange Commission (SEC). After several rounds of feedback with the SEC, this STO was the first ever public offering of security tokens to be approved and registered by the SEC. We are also advising INX on obtaining DLT Provider and MiFID Licences.
■ Advised eToro on obtaining permission from the Gibraltar Financial Services Commission to act as a regulated DLT Provider. We have also advised eToro on the regulatory impact of issuing a stable coin and the launch of their tokenised assets project as well as the implementation of an e-money product into their service offering.

AREAS OF PRACTICE
Corporate & Commercial
Data Protection
Environmental
Employment
Financial Services
FinTech
Funds
Gaming
Insurance
International Finance & Banking
Litigation
Pensions
Private Client
Property
Shipping
Spanish Law
Sports Law
Trust & Company Administration

FinTech

This firm is also ranked in:

Global 2021 Europe 2021 High Net Worth 2020

Contributions

Total 4 contributions

Trends and Developments

Corporate Tax 2021 in Gibraltar

Authors: Tim Garcia, Michael Castiel, Matthew Torres, James Noguera

Law and Practice

Corporate Tax 2021 in Gibraltar

Authors: Tim Garcia, Michael Castiel, Matthew Torres, James Noguera

Trends and Developments

Corporate M&A 2021 in Gibraltar

Authors: Tim Garcia, Matthew Torres, James Noguera, Michael Castiel

Articles, Highlights and Press Releases

Total 51 Articles, Highlights and Press Releases

Ranked Departments

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Gibraltar

FinTech Legal
Band 1

Top Ranked Departments

Ranked Individuals

This content is provided by Chambers based on our research. Learn more about our methodology.

Gibraltar

FinTech Legal


Aaron Payas
Band 2
Anthony Provasoli
Band 1
Vikram Nagrani
Band 2

Top Ranked Individuals

Band 1
Anthony ProvasoliFinTech Legal
Band 2
Aaron PayasFinTech Legal
Vikram NagraniFinTech Legal

Ranked Offices

This content is provided by Chambers based on our research. Learn more about our methodology.

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Ranked Offices

Head Office

firm
Head Office

Madison Building

Midtown

Queensway

Gibraltar

Gibraltar

Gibraltar

GX11 1AA

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