Quote:
Originally Posted by digitalfantasies
Because this goes much further than only financial transactions.
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Thanks for the explanation.. shitty law then.. they should have done it in a way that KYC is needed only for the last instance.. so in case I get my payment to a bank account in EU where KYC is done then the other instances above that (in this case the sponsor) wouldn't need to perform it.
Then we could expect that every sponsor residing in EU would need an ID? (AdultForce etc.)
Can't these companies just make a branch in a non EU tax heaven so they don't need to follow this crap? I mean the main operation would stay in EU, just the part handling affiliates/performers/payments outside?