Offshore company and bank account creation for crypto arbitrage

[sntsbr]

Hey guys!

Im new to the forum. I arrived when looking for solutions for a problem hopefully you´ll have some advice on how to solve.

I´ve working with crypto in Venezuela since 2016. It has provided many opportunities for financial freedom in a environment as hostile a dictatorship.

For some time now, one of the opportunities I have found is to do a triangular arbitrage within BTC / Bolivar (Venezuela´s currency) / USD.

The business has been good, but I´ve reached a major chokepoint because banking regulations make it very difficult to operate with my personal accounts (I´ve using uphold)

I want to know how to:

1) Set up an Offshore Company in a country with loose tax regulations because there´s not much spread in arbitrage opportunities to be able to pay 20ish % on taxing
2) What crypto exchange or OTC desk service would you recommend to use to send money to a bank account owned by the Off Shore company previously described.
3) Open a bank account in a bank that allows crypto deposits (Low to mid 6 figures USD) from the exchange in point 2).

 

[JohnLocke]

sntsbr said:
1) Set up an Offshore Company in a country with loose tax regulations because there´s not much spread in arbitrage opportunities to be able to pay 20ish % on taxing
Click to expand...

As you may have seen from other posts then you can use a simple Seychelles or Belize company and open a Mister Tango, TransferWise, ePayments and similar account to put your money in. Even kraken would work fine with such entities and has been ultra stable for my use at least.

I doubt you will find any reliable bank account for crypto but Switzerland may be your best choice.

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[sntsbr]

Admin said:
As you may have seen from other posts then you can use a simple Seychelles or Belize company and open a Mister Tango, TransferWise, ePayments and similar account to put your money in. Even kraken would work fine with such entities and has been ultra stable for my use at least.

I doubt you will find any reliable bank account for crypto but Switzerland may be your best choice.
Click to expand...

Thanks for your answer Admin!

I´ll be checking on that advice.

 

[TurnedToRobot]

sntsbr said:
3) Open a bank account in a bank that allows crypto deposits (Low to mid 6 figures USD) from the exchange in point 2).
Click to expand...

I would use an EMI to boarder the crypto and from there transfer it to your regular bank account. This will work just fine for you.

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