Bank Account for BVI Incubator Fund (Crypto-focused)

[cryptonewb]

Hello Everyone,

I am new to the website as a "member" but been reading the threads for some time. I come here asking for an advice:

I am planning to launch an incubator fund in the BVI (less restrictions in terms of mandatory service providers, investor documents etc). There is an annoying 20M cap, but I don't think I'll get anywhere near that.

After speaking with a few people I realized that most banks will be reluctant to open accounts for BVI registered companies (hence why many people also use a fund admin, because they act as the facilitator of the bank account).

Do you have any experience/suggestions in terms of banks that will take on businesses registered in the BVI, and on top of that are involved with crypto?

Here is a list I gathered, which isn't yet that satisfying to me because I've used some of them in the past and incurred in many problems:

EuroPacific Bank
Boslil Bank
Strategic Bank
CIM Banque
Bank Alpinum

 

[John Noel]

Hello Everyone,

I am new to the website as a "member" but been reading the threads for some time. I come here asking for an advice:

I am planning to launch an incubator fund in the BVI (less restrictions in terms of mandatory service providers, investor documents etc). There is an annoying 20M cap, but I don't think I'll get anywhere near that.

After speaking with a few people I realized that most banks will be reluctant to open accounts for BVI registered companies (hence why many people also use a fund admin, because they act as the facilitator of the bank account).

Do you have any experience/suggestions in terms of banks that will take on businesses registered in the BVI, and on top of that are involved with crypto?

Here is a list I gathered, which isn't yet that satisfying to me because I've used some of them in the past and incurred in many problems:

EuroPacific Bank
Boslil Bank
Strategic Bank
CIM Banque
Bank Alpinum

Hi azb1, I am right now investigating about funding an BVI hedge fund in the form of an incubator fund cause I don't want to waste my money in the structure, legal requirements and compliance, do you have any experience to share?
The investment management company would be based in IFZA in Dubai which is also cheap and quite responsive even if not too flexible, how did you do instead?

Thanks

 

[mickey]

Despite this thread is old, I wanna describe my current plans and setup.
As banks decline any kind of business (like I described it here: 100% Compliant, 0% Banking) these days, I gave up finding one. I use cryptos (BTC and stable-coins) instead and I work with brokers who support cryptos as a deposit and withdraw option. Other services like web hosting, renting servers etc. are also payable via crypto these days. It sure looks a bit shady to new investors, but when a fund like mine is making an average return of 4% per month, you don't need third-party funding that much.

 

[TheCryptoAnt]

Despite this thread is old, I wanna describe my current plans and setup.
As banks decline any kind of business (like I described it here: 100% Compliant, 0% Banking) these days, I gave up finding one. I use cryptos (BTC and stable-coins) instead and I work with brokers who support cryptos as a deposit and withdraw option. Other services like web hosting, renting servers etc. are also payable via crypto these days. It sure looks a bit shady to new investors, but when a fund like mine is making an average return of 4% per month, you don't need third-party funding that much.

you are not alone, I receive more and more invoices these days with payment details in crypto alongside FIAT.
even with discounts if you pay in crypto.