High volume fiat to crypto

[zabrii]

Hi everybody,

Let me introduce myself: I'm a jeweller / gold trader working out of‌ Turkey. I've been buying and selling usdt for cash here. And viceversa.
Never bought usdt‍ with a bank account.

A customer of mine has a high volume of fiat (euro)⁠ every week with which he wants to buy crypto (usdt).
The money is in his⁤ company bank account: Italy SRL.
His company is a gold trading / general trading company.⁣

The volumes are 500k - 1.5m weekly. These numbers are not so high for gold⁢ business but I've never done crypto through bank. So please help me choose what is︀ best.

Multiple scenarios:
1. He sends the euro to my Turkish company (gold trading), Turkish︁ bank. I can withdraw the money from the bank, I buy usdt with cash (quite︂ a high percentage to buy usdt for cash). So this option is not very preferable.︃ I will need to export jewelry to his Italian company as well. But no problem︄ I will manage the export.

2. I have a Czech company as well. No bank︅ account. Can open a bank account? Need bank that doesn't make problems when depositing to︆ Kraken? 3SMoney? Any other suggestions?

3. I can set up a crypto company in another︇ jurisdisction: Dubai? BVI? Estonia?
Following the company set up, I will need to set up︈ a bank account. 3SMoney? Other?

Since Kraken is using a BVI company. I'm considering going︉ that route.

The final destination for the usdt will be a cold-storage wallet Ledger Nano︊ X.
And rinse and repeat.

I'm a citizen of France + Turkey (dual citizenship). I'm︋ residing in Dubai for the moment.

I would appreciate any and all help.

Thanks a︌ lot!

 

[void]

if you have French passport and existing Czech company (s.r.o. I presume) then you⁠ should have no problem to open an account in most banks if you're a director⁤ and only (or major) shareholder

I don't know about Czech bank that officially supports crypto⁣ but fio.cz is a relaxed one, crypto is not allowed there but restrictions are not⁢ enforced (tested with Kraken)

 

[zabrii]

The flow will always be one-way. Company bank account fiat - crypto - withdraw from‌ Kraken to cold wallet.
Don't you think Kraken will block my account? If I'm trading‍ in high volumes.

 

[diatessaron]

Kraken won't bother you, unlike these regulated⁠ shitchanges like Bitpanda. Kraken personal account won't be able to absorb your in-out volume, you⁤ would need a corp. account or hit them up and go through their OTC desk.⁣

 

[zabrii]

Where should I set up the company in your opinion?

 

[JohnnyDoe]

Good recipe for having both your companies investigated and the accounts frozen thu&¤#

 

[diatessaron]

SEPA region country.

 

[JohnLocke]

second that. You will need a legit‌ setup with the help from professionals to get around with it.

 

[FinTech Avenger]

Forget about Turkish banks. They become less and less︌ tolerant day by day to cryptos.

Czech banking is not a valid option for your︍ setup as well. Czech banks don't work with cryptos and you would have hard times︎ opening local business bank account if you don't have any Czech substance.

Don't bother yourself️ with opening a BVI company, you would be extremely lucky with your current business ops‌ if you can get ANY banking for your company in the end.

I'll PM you‍ a few suggestions about regulated options now 🙂

 

[ShillGates]

you in dubai, go and see bitmain or the shop CoinSwapz – OTC cryptocoin platform‌

in dubai marina, they will help you out

https://finance.yahoo.com/news/coinswapz-leading-otc-exchange-dubai-000607276.htmlnot sure why jlt is on‍ their website. go and speak to them, they might have some wizzy wizz answers

 

[tolstoy]

oh I am in Dubai by 7th can meet︌ up if you like.

 

[granello12]

i think that i can help you, write me in DM

 

[Wellington]

Looks like money laundering, especially in Italy...

 

[bamboozlethemall]

Interested.DM Me.