best jurisdiction for crypto business

[gopas]

im considering BVI and Belize for a crypto trading/investment company. (no ICO etc.)
its a legitimate business and i'm just looking for a friendly jurisdiction with no stupid laws/financial regulations for crypto. what do you guys recommend?

 

[IAmNotTheTaxman]

I'm following this thread because I'm curious in this as well. Personally, I've looked into setting up a Belize IBC, and an EMI Account like Mistertango, Revolut, etc. (I don't think I would bother going the traditional banking route). Also depends on where your tax residency is too, EU, USA, etc.

 

[gopas]

i already have the taxes and cash outs figured out. I just need a jurisdiction that is easy with crypto and not imposing stupid regulations like getting licenses etc from the likes of SEC in their own state.

 

[IAmNotTheTaxman]

Well if you'll only be trading / investing in crypto, I think either BVI or Belize would do just fine. As long as whatever exchange you use allows for Corporate Accounts from BVI or Belize, you shouldn't run into too many problems. I think Belize (being cheaper, and bit more "low-key" than BVI) would be a good place to set up shop. Keep me posted on this, I'm curious as to how you proceed.

 

[JohnLocke]

Is this private investing in Crypto or on behald of 3rd party ?

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[IAmNotTheTaxman]

Did you end up proceeding with this? Keep us posted.

 

[Internationaloff]

Belize and St. Kitts and Nevis are a good solution for a crypto trading/investment company.

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[Spinat]

As long as you don't tell any agency service that you are into any crypto exchange business you can pick any of these jurisdictions! I would say to get a court order to close a Belize corp will be complicated just because it trades with crypto.

I know basically it is not complicated, but who will you sue if the UBO is foreign.​

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[lostman]

Avoid crypto currency in your business description and you are home free for country of your choice!

 

[blizz]

OP is this personal or 3rd party trading? if personal you can pick any jurisdiction and use Mister Tango account for crypto exchange!

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[IAmNotTheTaxman]

blizz said:
OP is this personal or 3rd party trading? if personal you can pick any jurisdiction and use Mister Tango account for crypto exchange!
Click to expand...

Mister Tango will soon (if not already) charge astronomical monthly fees for corp. accounts using crypto. Like an absurd amount of fees per month, something like €500 per month...

 

[blizz]

IAmNotTheTaxman said:
Mister Tango will soon (if not already) charge astronomical monthly fees for corp. accounts using crypto. Like an absurd amount of fees per month, something like €500 per month...
Click to expand...

I agree, but if you base a business on crypto the fee MT charge should not scare you 😉

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[Yaroslav]

Has anyone read one of the latest EU Directives regarding the cryptourrencies? They want financial institutions to identify each user of a crypto wallet. And they will refuse to work with anonymous crypto wallets soon.

 

[hiju]

Yaroslav said:
Has anyone read one of the latest EU Directives regarding the cryptourrencies? They want financial institutions to identify each user of a crypto wallet. And they will refuse to work with anonymous crypto wallets soon.
Click to expand...

that's where services like Mister Tango comes into play. You can keep your anonymous crypto wallet but still get your money into a bank account and only report the money that is actually going in your account.

 

[happyjohn]

Does someone know where it is the cheapest to get a license? Is it possible to get it in Estonia as some people here claim?

 

[fanban]

Internationaloff said:
Belize and St. Kitts and Nevis are a good solution for a crypto trading/investment company.
Click to expand...

what are the costs for license for a business there ?

 

[fanban]

BUMP - what is the costs for a license?