Does Gibraltar have a better reputation than BVI especially for banks?

[flyingadventures662]

Hi,

I am wondering if it's worth to open a Gibraltar vs BVI company.

AFAIK the Gibraltar due diligence is much heavier and also I will need to submit an annual return (although taxed a 0%). So Gibraltar will cost me more efforts.

The only reason I would do it is as I think it has better reputation overall and it would make it more likely to get a bank account somewhere (but it should be noted I will do mainly crypto personal trading and will need transactions to and from exchanges so it would be hard anyway).

Do you think it's worth the effort and would I gain anything, especially when it comes to banks/EMIs by incorporating in Gibraltar?

@Gediminas Especially your opinion is highly appreciated here.

Anyone else kindly share your thoughts as well.

 

[Sols]

Yes, Gibraltar does have a better reputation than BVI. It has decreased since Brexit and no longer being EU territory, though, but it's still more reputable than BVI.

Banking will always be difficult for a company which has no connection to where they're incorporated and which has signs of being used for tax evasion (incorporated in a low/zero tax jurisdiction with owner and operations somewhere else).

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This is the probably the answer to your question.

 

[clemens]

Don't you guys think banking difficulty is the same for BVI and Gibraltar?

I believe depending on the right provider (offshorebvi.com) they may be able to open an account for a BVI company. I have no clue about Gibraltar.

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[flyingadventures662]

clemens said:
Don't you guys think banking difficulty is the same for BVI and Gibraltar?

I believe depending on the right provider (offshorebvi.com) they may be able to open an account for a BVI company. I have no clue about Gibraltar.
Click to expand...

Do you think they may be able to open a bank account for a crypto company though?

 

[clemens]

pastet89 said:
Do you think they may be able to open a bank account for a crypto company though?
Click to expand...

You may ask them. They have strict requirements and KYC but their customer support is pretty good.

You may also approach
https://www.apollo-international.com/jurisdiction/cyprus

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[Sols]

clemens said:
Don't you guys think banking difficulty is the same for BVI and Gibraltar?
Click to expand...

Similar but marginally easier with Gibraltar. It's closer to UK both physically and politically than BVI.

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This is the probably the answer to your question.