Best Jurisdiction for Offshore Crypto Company (Indonesian Citizen)

[Fred]

That's correct.

For reliable card processing in USD we indeed use‍ local Panama Banks as they have a quite high risk appetite and settle instant to⁠ your Business Bank Account in Panama. Fees can be negotiated.

However for SWIFT Transfers we⁤ prefer Hong Kong and UAE as Banking Jurisdiction as it's more streamlined and cheaper to⁣ process Wire Transfers.

Panama Banks tend to take 3-5 Working Days for a USD SWIFT⁢ Transfer while charging on outgoing Transfers 50-100$ and incoming Transfers 30-50$ so you can end︀ up paying 1000$ per Month just in Banking Fees for 10 Transactions.

Hence we pick︁ the most streamlined and affordable solution available depending on our clients individual situation.

 

[alley]

but they only accept Panama companies⁠ no foreign company ?

 

[Fred]

That's correct.

 

[burden]

pretty basic Panama company setup, what are we looking at for company and Wise account‌ if it's possible with Wise?

 

[lory]

you could consider services like

 

[Fred]

Wise with Panama Company is‍ not available - general speaking I don't recommend anyone Wise/Mercury kind of Accounts with AI⁠ Compliance - not reliable in the long run and you can face funds freezing and⁤ account closures any time.