I have a friend..
Resident in an EU country. Looking to launch a btc-only IT services company (~10 people). Staff (and management) are spread across multiple jurisdictions, both in and out of the EU. All customers and suppliers pay / are paid with BTC. This friend has savings, plus other (taxed) income streams, meaning that no (immediate) benefit needs to be derived from the BTC business.
NO BANK ACCOUNT NEEDED
In a few years, he will leave the EU (permanently) and register in a territorial taxation country such as Paraguay. Looking for a company setup with the following objectives:
- Minimal company reporting requirements / hassle
- Minimal personal reporting requirements / hassle
Research has pointed to:
* Nevis Foundation, or Trust with spouse / kids / siblings as beneficiaries
* This Foundation / Trust owns a Seychelles corp through which business is conducted
This friend is not an employee, a manager, a director, or a shareholder. However he is likely to "help out" from time to time with operational stuff, on a voluntary basis. He is not a keyholder (multisig arrangement).
Primary objective is to allow this business to exist, without having a PE in his home territory, and without drawing attention from the EU overlords. The business does not need to generate a dividend for these first few years - profits could be re-invested in the business.
Any tips or advice?
Last edited: Dec 8, 2024
Resident in an EU country. Looking to launch a btc-only IT services company (~10 people). Staff (and management) are spread across multiple jurisdictions, both in and out of the EU. All customers and suppliers pay / are paid with BTC. This friend has savings, plus other (taxed) income streams, meaning that no (immediate) benefit needs to be derived from the BTC business.
NO BANK ACCOUNT NEEDED
In a few years, he will leave the EU (permanently) and register in a territorial taxation country such as Paraguay. Looking for a company setup with the following objectives:
- Minimal company reporting requirements / hassle
- Minimal personal reporting requirements / hassle
Research has pointed to:
* Nevis Foundation, or Trust with spouse / kids / siblings as beneficiaries
* This Foundation / Trust owns a Seychelles corp through which business is conducted
This friend is not an employee, a manager, a director, or a shareholder. However he is likely to "help out" from time to time with operational stuff, on a voluntary basis. He is not a keyholder (multisig arrangement).
Primary objective is to allow this business to exist, without having a PE in his home territory, and without drawing attention from the EU overlords. The business does not need to generate a dividend for these first few years - profits could be re-invested in the business.
Any tips or advice?
Last edited: Dec 8, 2024