Fidor Bank for Cyprus Limited
- Thread starter CryptoFriend
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@Willblack is right, they even used to have 'we are only dealing with Germans' thing on their main page. Same applies to most German banks from what I know.
You can check with EMIs in Cyprus as there are some crypto-friendly EMIs. You could also consider banks in Gibraltar. What will be the structure of the company? I assume you are aware you will be registering it in the crypto asset service providers register once this goes live.
I intend to set up a limited company fund it with fiat and register the company to crypto exchanges to trade. Yes I am aware of the new rules, do you expect this to make business more difficult for crypto trading companies?
No on the contrary, this will make everything a bit more crypto-friendly and hopefully banks as well. We are still expecting the official guidance from CySEC about requirements and costs but we have an indication, and I believe this will be quite straightforward etc.
So generally, setting up a crypto trading company as a limited and use an EMI is the most straight forward option currently right?
Thank you for your help!
Thank you for your help!
Potentially yes. I do expect that once the official guidance is issued by CySEC banks will reconsider their policies but for the time being the best option is to set up and ltd company, register in the crypro service providers once this is live and open an account with an EMI or a foreign bank.
Hi everyone,
just an Update on Fidor Bank, they replied and they still only offer banking for german companies.
just an Update on Fidor Bank, they replied and they still only offer banking for german companies.
@CryptoFriend There are more friendly banking options for Cyprus cryptotrading companies, including Frick Bank in Liechtenstein.
If you would require some assistance and expertise on banking matters, I'd be happy to help you 🙂
If you would require some assistance and expertise on banking matters, I'd be happy to help you 🙂
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