Hello everyone,
I've been working on setting up a company for my crypto business:
An example of my activity is:
1) i buy 1000€ worth of btc in Kraken
2) Then sell those at a price of 1100€ on Localbitcoins.com (to one or many traders). So 100€ profit.
3) I buy again on kraken and repeat the process.
The idea would be to re-invest the daily profits to increase capital, and once i feel confortable start taking profits.
I've been working like this on a personal basis for a while, and my personal banks are awesome in terms of service, but they warned me that they will not allow this transactions with exchanges anymore, that's why i decided to incorporate.
I've talked to agents to incorporate in Cyprus and Malta (for taxes advantages) and they all say there is no problem with the activity except for one: BANKING.
I would like to have a good bank to work with, but agents warn me that finding a good bank for this activity is very difficult (if not impossible), and that mostly i will have to rely on an EMI, however i've read horrible stories about EMIs, specially since they first block you and then lock your funds and you fall in a fight with horrible/non-responding online customer service for a crazy long amount of time sometimes resulting in your funds being lost.
My biggest fear is having funds blocked from one day to another and suddenly having to stop my activity and lose money because of that.
Is there any bank you can recommend to get a corporate account for my activity? or if my only option is an EMI, any good/trustworthy EMI with corporate acounts?.
On the other side, i haven't incorporated yet, so i'm still flexible if there is better choice to incorporate elsewhere, what's important to me is that i'm able to have am european SEPA account because that's where my clients pay to.
Thank you in advance for any advice.
I've been working on setting up a company for my crypto business:
An example of my activity is:
1) i buy 1000€ worth of btc in Kraken
2) Then sell those at a price of 1100€ on Localbitcoins.com (to one or many traders). So 100€ profit.
3) I buy again on kraken and repeat the process.
The idea would be to re-invest the daily profits to increase capital, and once i feel confortable start taking profits.
I've been working like this on a personal basis for a while, and my personal banks are awesome in terms of service, but they warned me that they will not allow this transactions with exchanges anymore, that's why i decided to incorporate.
I've talked to agents to incorporate in Cyprus and Malta (for taxes advantages) and they all say there is no problem with the activity except for one: BANKING.
I would like to have a good bank to work with, but agents warn me that finding a good bank for this activity is very difficult (if not impossible), and that mostly i will have to rely on an EMI, however i've read horrible stories about EMIs, specially since they first block you and then lock your funds and you fall in a fight with horrible/non-responding online customer service for a crazy long amount of time sometimes resulting in your funds being lost.
My biggest fear is having funds blocked from one day to another and suddenly having to stop my activity and lose money because of that.
Is there any bank you can recommend to get a corporate account for my activity? or if my only option is an EMI, any good/trustworthy EMI with corporate acounts?.
On the other side, i haven't incorporated yet, so i'm still flexible if there is better choice to incorporate elsewhere, what's important to me is that i'm able to have am european SEPA account because that's where my clients pay to.
Thank you in advance for any advice.
