Suggestion for registering a community fund company

[cee zee]

Good day all,

I run a telegram community of crypto investors where we pool funds and invest in pre-sale of crypto projects. I used to have a company in BVI to sign investment agreements with projects with BVI rules changing I am after something more concrete.

My initial thought is an offshore foundation + an offshore company with nominate council/directors where needed. Panama looks like the easiest option, though I am looking at Seychelles too. High level plan is to have foundation in country and IBC (or similar) in another. Foundation collects funds from community members, while IBC invests and signs agreements with projects.

Would appreciate some suggestions and feedback on my thought process.

 

[bountymounty]

Something like that was drawn in mentor group gold years ago. I'm curious to hear‌ if anyone think it's still working in 2023

The setup that was drawn was a‍ cluster of 16 IBC's connected to a Fund in the Seychelles.

 

[Gediminas]

Hey,

I would prefer an offshore entity (might be LLC, partnership, or trust/foundation depending on︂ the case) based in SVG or another place, and a second entity that will act︃ as a “service provider” and “business center” (no legal issues regarding licensing) based in Europe.︄

It gives better access to banking and other facilities.

 

[cee zee]

That sounds good and almost on same track as what I am thinking atm.
I was⁤ thinking that the 1st entity will collect funds and 2nd entity will invest in projects⁣ and sign agreements. And the 2nd entity will be owned by 1st one.

With your⁢ approach I am assuming 1st entity will do both collection of funds and investment.
For your approach which jurisdiction in EU would you recommend ?

Thanks

 

[FDS ADS]

As a lawyer, I am simply saying that in BVI you can still manage your︂ project no matter of regulations if you have a good lawyer there. If you want︃ to run away still then for you SVG is an option.

 

[crypto7figs]

hey @cee zee what's the outcome of your case?

 

[myhand]

+1 for this question would be nice to get replies from some of the self-styled gurus‌ - @Giorgi Kurtsikidze @Gediminas but also your outcome!

 

[cee zee]

Still have not done much on this as market pretty much died.
With BTC waking‌ up I am back exploring options for setup.

Tagging @FDS ADS @Gediminas[/USER] if you‍ can kindly comment as well on questions asked in my 1st post here

Thanks

 

[kee030]

I would consider Cayman Islands foundation company, since more than half US funds form there‌ because of circumstances like less burden of custodian and administration. But I'm not sure about‍ their attitude towards the crypto fund. Also, you can list up Wyoming Statutory Foundation Company⁠ if US jurisdiction is fine.
BVI is fine, but it may be hard to control⁤ and manage because flight to BVI is very limited. Another option could be Turks&Caicos where⁣ the taxation is similar to the Cayman Islands but again, I'm not sure about their⁢ attitude towards crypto funds. You can ask them.

 

[clemens]

do you have a suggestion⁤ for someone who can help with the setup? name or link if possible?