Help needed for a complete solution to my problem

[Taouil]

Hello,

I have a network of streaming websites,
I've started this project 5 months ago and I'm making decent numbers ($20K benefits per month until now) and we're projecting more than $100K per month in 6months,
Every transaction until now is made via BTC,
So the ad networks pay us via BTC and we're paying all bills via BTC too,
So until now, I'm working with local people here who buy BTC via cash,
I'm looking for a solution to transfer the BTC in my wallet into cash,
and try to get an EU citizenship (in the long run).
After long research here I found that Cyprus could be a good fit for me,
My questions are:
- Is a Cyprus Company + Bank account a good idea for this?
- Should I have a personal Bank account in Cyprus too?
- How can I sell BTC to people and get the money to the Bank account of the company?
- Can you please give me more info and details about this?

Of course, I don't need to reveal any activities related to my streaming network.

Thank you

 

[TurnedToRobot]

IT can work if you setup the company correct which includes real‍ nominees and a real office + a very good business description.
No, why would⁤ you need that?
If you use⁢ services like Mister Tango it works, I don't know whith kraken since I don't want︀ to jeopardice my account there.
Kraken, MisterTango and ePayments as well as some of the many other EMI's around.

I would︂ focus more on EMI's rather than bank accounts. spread your money over several EMI's and︃ take the money out to a local bank account as you need it. To setup︄ a company in Cyprus and get a bank account requires a real business model which︅ is complicated and expensive to setup.

 

[Taouil]

Hello,

Thank you for the reply,
So you think it's not necessary to have a‌ company and bank account for this?
I have a question,
If I have multiple EMI's,‍ each one have money on it,
And I started a company in the future (Cyprus⁠ ..),
Can I send the money from the EMI's to the company bank account without⁤ being asked about the source of that money?

Thank you

 

[TurnedToRobot]

EMI would do fine as well.

yes that is possible. I have send⁤ money from several EMI's to several different Cyprus accounts during my time, no problem at⁣ all.

 

[Taouil]

Thank you for the reply,

Can you tell me a good strategy to use EMIs?‌
Should I have multiple accounts on each EMI? What's the max amount that should be‍ in an EMI?
How much is the recommended transaction maximum amount?

 

[JimBeam]

What kind of content do you stream?
Can you show these sites to a bank‌ at account opening meeting?

 

[Taouil]

No I can't show the banks‍ that

 

[Sols]

Banks in Cyprus are perhaps some of the most crypto-hostile banks I've seen. They will‌ (and have) shut down corporate accounts for simply mentioning bitcoin or cryptocurrency on your company‍ website. Even just receiving funds indirectly from crypto-related activities will make the banks unhappy. Tread⁠ carefully.

As darkster says, consider crypto-friendly EMI and banking options outside of Cyprus for your⁤ company. MisterTango is probably the most friendly and easily accessible.