QA to my project

[nereus]

Iam out to get a e-currency exchange and a bitcoin mining pool running.


I thought about a private bank account, a company account and a company setup.


Of course taxes also play a role but asset protection first.


The assets should be protected from the perspective of a european resident.


From previous research i know that i probably need regulation for that business, however, right now i don't know where to start.

 

[JohnLocke]

What you are looking for will require a financial license in most countries. The issue will not be to incorporate the company for that business activity but more over the bank's which will require a license.


Do you have any idea where you want to incorporate the company? What are your requirements towards the bank?

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[nereus]

Thank you for the fast reply!


I don't have an idea yet where to incorporate, i got a suggestion to maybe consider the BVI.


Towards the bank i don't have any requirements yet.

 

[bizman]

A BVI company may be a great alternative for financial service companies even they require a license for your activity.

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[nereus]

How do i get this license? Where can i get more information about that?

 

[JohnLocke]

Before you launch your business you may want to have a look here British Virgin Islands Financial Services Commission > Home it is costly to obtain a license for such purpose.


I think most are looking into New Zealand UNDERSTANDING FSP REGISTRATION | New Zealand FSP Finance Company at the moment or Costa Rica. I personally believe the NZ may be the best place to start.

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[nereus]

Thanks so much, you guys are a real help!

 

[JohnLocke]

Your welcome, please spend some time here once you accomplished all this to let us know the outcome and how you did it so it may help others in the same situation as you are at the moment 😉

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[bizman]

Admin, do you know if one obtain a license in NZ (say to become a FSP/ Financial Service Provider) if they can open a bank account in Europe i.e. Cyprus, Malta, UK or offshore?

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[nereus]

Sure, ill keep sticking around here for now.


Considered i got the company with license up and running, what would be the required steps to secure it from any force that might could harm this business? (im sure you have some interesting links here)


I have read about trusts and holdings, is this an option for such a business? Would the holding/trust have to run in the same jurisdiction?


Soo many questions, i know... but you really safe me a lot of time i would need to research all this, thanks again.

 

[JohnLocke]

Considered i got the company with license up and running, what would be the required steps to secure it from any force that might could harm this business?
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There are no 100% guarantees for this, anyone who try to sell you a 100% secure solution may be wrong!


That said, you may establish a Trust or Foundation or a combination of both to hold the shares in the FSP company. Depending on the activity within the range of financial services provided a simple Holding company may be sufficient as well.

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[nereus]

Sure, i know that there is no 100% solution and everybody is responsible for its own actions. The reason im here is exactly this, i want to get as close as possible to 100%.

 

[JohnLocke]

Seychelles Trust holding the shares of the FSP may be sufficient. However, it all depends on your budget. I know the establishing fees of a Financial Service Provider Company in New Zealand is roughly USD 10k - 30k depending on which CSP you are using to help.

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[offshoremax]

I can tell you that if you have the budget available to setup a real Group of offshore entity's then Admin and his Team know exactly how to do it and where to get things done in case of lawsuit's, copyright infringements and even fraud attacks.


Our entire setup has costed in the range of euro 8.000 + a few other expenses to consultancy, lawyers and other legal services.

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[nereus]

I know the establishing fees of a Financial Service Provider Company in New Zealand is roughly USD 10k - 30k depending on which CSP you are using to help.
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Well, i have an idea on the costs that would face me here, but this is still a vague figure, for me its a decent difference between 10 and 30k.


To be serious, i have 10-15k budget right now, to get an investor or further fund raising i need more precise figures.


I also need an idea on the running costs for this business setup.

Our entire setup has costed in the range of euro 8.000 + a few other expenses to consultancy, lawyers and other legal services.
Click to expand...

Can you provide a detailed setup on the costs that i will have to take and on costs that could arise for your services while setting up everything? Do i have to travel (this may cause unexpected costs to me)?

 

[JohnLocke]

Our entire setup has costed in the range of euro 8.000 + a few other expenses to consultancy, lawyers and other legal services.
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Where did you get these figures from?


Registering a New Zealand registered entity as an FSP | Companies Office FSP

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[clemens]

I made some proper investigation to see what the costs are and who the companies are that may help with the formation of a FSP, what I found is that the fee is EUR 12.500 and there are 3 on Google Adwords advertising when you look up New Zealnd FSP which I for obvious reason not find very reliable. If you have the budget you may address your questions to the government website which is linked in this thread and ask them to refer you to a reliable law or consultancy firm who can help.

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[doxs]

When you are into such figures I would recommend to consult a lawyer in NZ or at least one of the 5 biggest Tax Firms in the World i.e. BDO, Pricewaterhouse, Delliot etc. - The aproach taken here on the forum is great for investigation purpose but to put your hard earned money in an unknown firm with non verified information on their website would be too much for me.

 

[conspole]

nereus said:
Iam out to get a e-currency exchange and a bitcoin mining pool running.
I thought about a private bank account, a company account and a company setup.


Of course taxes also play a role but asset protection first.


The assets should be protected from the perspective of a european resident.


From previous research i know that i probably need regulation for that business, however, right now i don't know where to start.
Click to expand...

Will you please tell us what you did once you get your setup? I'm into a similar situation.