Best Jurisdiction for Offshore Crypto Company (Indonesian Citizen)

[Fred]

With payment processing you mean wire transfers / bank transfers not card processing ?

That's correct.

For reliable card processing in USD we indeed use local Panama Banks as they have a quite high risk appetite and settle instant to your Business Bank Account in Panama. Fees can be negotiated.

However for SWIFT Transfers we prefer Hong Kong and UAE as Banking Jurisdiction as it's more streamlined and cheaper to process Wire Transfers.

Panama Banks tend to take 3-5 Working Days for a USD SWIFT Transfer while charging on outgoing Transfers 50-100$ and incoming Transfers 30-50$ so you can end up paying 1000$ per Month just in Banking Fees for 10 Transactions.

Hence we pick the most streamlined and affordable solution available depending on our clients individual situation.

 

[alley]

For reliable card processing in USD we indeed use local Panama Banks as they have a quite high risk appetite and settle instant to your Business Bank Account in Panama. Fees can be negotiated.

but they only accept Panama companies no foreign company ?

 

[Fred]

but they only accept Panama companies no foreign company ?

That's correct.

 

[burden]

pretty basic Panama company setup, what are we looking at for company and Wise account if it's possible with Wise?

 

[lory]

you could consider services like

Mentor Group Gold - AD Thread! Thread 'Ready-made Bulgarian Crypto Authorization company for 11K EURO'

Sep 10, 2024

We would be glad to share with you more details about Bulgarian crypto authorization, attaching our price offer please see below.



The key features for starting a crypto authorized company in Bulgaria are:



• Lowest corporate income tax in EU – 10%;

• Crypto assets are not subject to VAT;

• No need of big amount of share capital - minimum is EUR 1.00 ;

• No requirements for dedicated AML officer;

• No audit requirements.

• VAT 20%;

• Dividend tax – 5%;

• Personal income tax – 10%;

Authorized companies receive a Certificate of entry in the Register of persons who by occupation...

• WeFormOnline
• Replies: 15
• Forum: Offshore Company

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[Fred]

pretty basic Panama company setup, what are we looking at for company and Wise account if it's possible with Wise?

Wise with Panama Company is not available - general speaking I don't recommend anyone Wise/Mercury kind of Accounts with AI Compliance - not reliable in the long run and you can face funds freezing and account closures any time.