Hi folks,
I am in a bit of a quandary and hope you guys can help.
My company is an Enterprise focused Blockchain IT Solutions & Service Company and by that it effectively means we have to accept payment in Crypto. We have 4 share holders, 2 from the US (residing in US), 1 from Romania (residing in Romania) and 1 from India (residing in Spain).
Although we currently maintain a public blockchain, our core competency is in building products to be used on the blockchain. This includes blockchain based payment processors, Crypto to Fiat converters, Permissioned Blockchains for businesses and enterprises. At some point in the near future may want to venture into running a legal crypto exchange (thats for laters, though).
Currently, given our international team and the high liability clause we opted to go for a St.Kitts & Nevis Holding company - this is currently in progress (with a bank account opening option). But since we offer our services world wide and require freedom of operation/services we are probably rethinking a single entity approach. Also EU blacklisting St.Kitts earlier this month hasnt really helped.
Do you think, it make sense for us to
1. Use Nevis as the holding company
2. Create a subsidiary in Cyprus with a EU/HK bank for EU/WW dealings
3. Apply for a financial services license in Belize for our payment processor and Crypto Exchange (with KYC & AML compliance).
If we do that , what complications do you see for the company / dividend payout / company tax issues ?
For crypto gains / conversion to fiat and for depositing the profits in our company account, is there something better than mistertango?
Is there another approach you would suggest?
Any help is appreciated.
Forgot to add that, for non crypto business, we will be opening regional offices (US/EU) under the holding company that cater to fiat paying customer for IT solutions.
Thanks!
I am in a bit of a quandary and hope you guys can help.
My company is an Enterprise focused Blockchain IT Solutions & Service Company and by that it effectively means we have to accept payment in Crypto. We have 4 share holders, 2 from the US (residing in US), 1 from Romania (residing in Romania) and 1 from India (residing in Spain).
Although we currently maintain a public blockchain, our core competency is in building products to be used on the blockchain. This includes blockchain based payment processors, Crypto to Fiat converters, Permissioned Blockchains for businesses and enterprises. At some point in the near future may want to venture into running a legal crypto exchange (thats for laters, though).
Currently, given our international team and the high liability clause we opted to go for a St.Kitts & Nevis Holding company - this is currently in progress (with a bank account opening option). But since we offer our services world wide and require freedom of operation/services we are probably rethinking a single entity approach. Also EU blacklisting St.Kitts earlier this month hasnt really helped.
Do you think, it make sense for us to
1. Use Nevis as the holding company
2. Create a subsidiary in Cyprus with a EU/HK bank for EU/WW dealings
3. Apply for a financial services license in Belize for our payment processor and Crypto Exchange (with KYC & AML compliance).
If we do that , what complications do you see for the company / dividend payout / company tax issues ?
For crypto gains / conversion to fiat and for depositing the profits in our company account, is there something better than mistertango?
Is there another approach you would suggest?
Any help is appreciated.
Forgot to add that, for non crypto business, we will be opening regional offices (US/EU) under the holding company that cater to fiat paying customer for IT solutions.
Thanks!
