Is there a legal route, especially given the corporate residence law as in Austria - Corporate - Corporate residence ? Edit: should have mentioned crypto.
Offshore suggestion for high frequency trading in Austria
- Thread starter timelord
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If you are an Austrian with Residence in Austria - the place of management of any Offshore Company will always be Austria and therefore Austria will tax the Offshore Company like a local Austria Company.
Dubai makes always sense for Trading - not only because of 0% tax but because of having no bureaucracy what costs you time and money in Austria to do accounting for high frequency trading - maybe even trading with leverage etc.
Doesn't have to tell you this if you are German speaker you see how the German Crypto YouTuver actually based with there business.
Dubai makes always sense for Trading - not only because of 0% tax but because of having no bureaucracy what costs you time and money in Austria to do accounting for high frequency trading - maybe even trading with leverage etc.
Doesn't have to tell you this if you are German speaker you see how the German Crypto YouTuver actually based with there business.
Would an UAE company doing high frequency crypto trading not need a crypto-commodities license with the︀ DMCC and as such be required to file annual accunts?
We don't work with DMCC and there Crypto License. for retail clients.
Several reasons:
- no UAE bank accepts you
- complex process
- expensive
We did already setup for institutionals that are willing to pay the DMCC fees, don't mind puttng 7 figures with Switzerland Private Banks and hiring a compliance officer - if required.
Basically the options for good Private Banks and EMI's banking institutional Crypto Clients is indeed there and most︀ of them providing even fiat on-/off-ramps for the well known Crypto Exchanges.
However non of︁ them has any appetite for retail that wants to trade own Crypto through a company.︂
We can provide a retail solution that works with local retail banks at an affordable︃ price - that's not possible with the DMCC Crypto License.
Several reasons:
- no UAE bank accepts you
- complex process
- expensive
We did already setup for institutionals that are willing to pay the DMCC fees, don't mind puttng 7 figures with Switzerland Private Banks and hiring a compliance officer - if required.
Basically the options for good Private Banks and EMI's banking institutional Crypto Clients is indeed there and most︀ of them providing even fiat on-/off-ramps for the well known Crypto Exchanges.
However non of︁ them has any appetite for retail that wants to trade own Crypto through a company.︂
We can provide a retail solution that works with local retail banks at an affordable︃ price - that's not possible with the DMCC Crypto License.
So for the small fish who don't have 7 figure balances yet, trading crypto through a︁ company in the UAE is not advised?
Only private crypto trading is possible for those?︂
If a Seychelles IBC or Delaware LLC that engages in crypto trading sets up a︃ PE in UAE, will it need a license?
Only private crypto trading is possible for those?︂
If a Seychelles IBC or Delaware LLC that engages in crypto trading sets up a︃ PE in UAE, will it need a license?
Trading through a DMCC Crypto license is not advised - this can be realized in Dubai but not with the DMCC Crypto License.
You focus on the wrong part of the setup - forget about the Crypto space or what happens in Crypto you need to focus on the fiat On-/Off-ramp.
You can register on Binance with having a Supermarket License︀ Company - they don't care - but the local UAE banks care - so we︁ focus on satisfying them - not Exchanges like Binance.
You focus on the wrong part of the setup - forget about the Crypto space or what happens in Crypto you need to focus on the fiat On-/Off-ramp.
You can register on Binance with having a Supermarket License︀ Company - they don't care - but the local UAE banks care - so we︁ focus on satisfying them - not Exchanges like Binance.
It's good to know that exchanges don't care and that local banks can be satisfied,︀ but what about the local regulators?
I am quoting from here: How to set up︁ a crypto-commodities trading company in the UAE
According to them, you must be licensed to engage in crypto trading on a corporate level︆ in the UAE. Granted, the article is 3 years old, so perhaps there are alternatives︇ to the DMCC license now?
I am quoting from here: How to set up︁ a crypto-commodities trading company in the UAE
According to them, you must be licensed to engage in crypto trading on a corporate level︆ in the UAE. Granted, the article is 3 years old, so perhaps there are alternatives︇ to the DMCC license now?
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