Crypto Staking service, Please help

[leo420]

Hey guys.

I have been operating a Staking pool an i am now trying to incorporate and start cashing out some profits.

I really want to go for an Offshore company for 3 reasons:

A) I plan on traveling heavily in the next years so having a legal entity that manages all the finances of my operations is a must
B) If I register locally I get slapped with 35% taxes at the point where I get my Crypto(this is a problem since I do not plan to always sell my income, but this way I will be forced to)
C) Since I do not have operations in any one country. No reason no to benefit from 0% taxes in another countries.

I have tried looking into a seychelles IBC but it has been absolutely impossible to get a bank account, IMA for a Crypto business.

I am now looking into a UEA company,

is this reasonable ?
does anyone know what kind of troubles I might have with banks at UEA and/or if you can recommend a bank in Europe that I can use?

Also what ball range should i be looking for in the expences for opening and maintaining the company ?

Thank you for any advice
L

 

[CaptK]

It depends, UAE may not be the most efficient one for you.
UAE company will cost you about 8K plus substance about 4K. 4K renewal
A UK LLP about 1K plus 1K maintenance.
What is your nationality

 

[leo420]

CaptK said:
It depends, UAE may not be the most efficient one for you.
UAE company will cost you about 8K plus substance about 4K. 4K renewal
A UK LLP about 1K plus 1K maintenance.
What is your nationality
Click to expand...

I have Dutch(Netherlands) nationality but I am an resident/citizen of Cyprus.
I never considered UK, and they also have a 0% tax regime on off-shore money ??

Thank you for your help i have been lost for weeks now.....

 

[CaptK]

Yes, an LLP would work well with your Cyprus residency

 

[leo420]

CaptK said:
Yes, an LLP would work well with your Cyprus residency
Click to expand...

Do you know anyone that can help with the incorporation of an LLP in UK ?

Also what would this structure look like ? will I be getting payed a salary or dividends from the UK company ?

What about parking and reinvesting LLP money, is that tax free ?

 

[CaptK]

leo420 said:
Do you know anyone that can help with the incorporation of an LLP in UK ?

Also what would this structure look like ? will I be getting payed a salary or dividends from the UK company ?

What about parking and reinvesting LLP money, is that tax free ?
Click to expand...

I would be happy to help with that.

You would be payed profits as dividends.

You can park or reinvest profit so long as you are not a UK resident.

 

[JackAlabama]

leo420 said:
Hey guys.

I have been operating a Staking pool an i am now trying to incorporate and start cashing out some profits.

I really want to go for an Offshore company for 3 reasons:

A) I plan on traveling heavily in the next years so having a legal entity that manages all the finances of my operations is a must
B) If I register locally I get slapped with 35% taxes at the point where I get my Crypto(this is a problem since I do not plan to always sell my income, but this way I will be forced to)
C) Since I do not have operations in any one country. No reason no to benefit from 0% taxes in another countries.

I have tried looking into a seychelles IBC but it has been absolutely impossible to get a bank account, IMA for a Crypto business.

I am now looking into a UEA company,

is this reasonable ?
does anyone know what kind of troubles I might have with banks at UEA and/or if you can recommend a bank in Europe that I can use?

Also what ball range should i be looking for in the expences for opening and maintaining the company ?

Thank you for any advice
L
Click to expand...

Just out of curiosity as I am also dabbling in this field.
Do you take on 3d party funds (from clients etc.) or do you use only your own funds?

I had limited interests from other people about what this is all about but I do not know (nor really want to) deal with 3d party funds in regards of regulation.

 

[CaptK]

JackAlabama said:
Just out of curiosity as I am also dabbling in this field.
Do you take on 3d party funds (from clients etc.) or do you use only your own funds?

I had limited interests from other people about what this is all about but I do not know (nor really want to) deal with 3d party funds in regards of regulation.
Click to expand...

3rd party funds are not as bad as you think. It's just compliance around AMLD5. Estonia is a good place to set up to take 3rd party funds and licencing in comparison is cheap compared to other jurisdictions but only in the crypto space.
Staking, pooling and crypto loans are all possible under the licence.

DO NOT ACCEPT AMERICAN CLIENTS!!

 

[uplana]

CaptK said:
3rd party funds are not as bad as you think. It's just compliance around AMLD5
Click to expand...

It requires you to comply with a lot of regulations to handle 3rd party funds not to speak about the responsibility you will have for each and every customer to who you provide your services.

Toggle signature
Find help to the ultimate anonymous setup on OffshoreCorpTalk - Tried, Tested & Works
Need help to get things done, ping me inside the Mentor Group Gold forums.

 

[JackAlabama]

CaptK said:
3rd party funds are not as bad as you think. It's just compliance around AMLD5. Estonia is a good place to set up to take 3rd party funds and licencing in comparison is cheap compared to other jurisdictions but only in the crypto space.
Staking, pooling and crypto loans are all possible under the licence.

DO NOT ACCEPT AMERICAN CLIENTS!!
Click to expand...

Thanks, that sounds good.
Well I would personally like to avoid any eu country for anything business related but I noticed in interviews / market research that your average joe prefers an eu licenced venture (or uk) much more compared to some banana republics licence which in turn I would favor (unless people are personally known, in which case these things matter less).

uplana said:
It requires you to comply with a lot of regulations to handle 3rd party funds not to speak about the responsibility you will have for each and every customer to who you provide your services.
Click to expand...

That was what came out in my limited research. Plus large work of hand-holding and psychological support/assistance. So, that was mainly the reason to just work with own funds and avoid that extra hassle.

 

[leo420]

JackAlabama said:
Just out of curiosity as I am also dabbling in this field.
Do you take on 3d party funds (from clients etc.) or do you use only your own funds?

I had limited interests from other people about what this is all about but I do not know (nor really want to) deal with 3d party funds in regards of regulation.
Click to expand...

I only manage my own funds(and some of my family)

 

[CaptK]

Then you will be fine with just a company.