Dear Sirs and Madams.
We have now successfully incorporated our company structure in Malta/Cyprus and are close to be ready for daily business.
Our operating fields include re-selling electronics through eBay/our own Web Store. As we only operate online ("E-Commerce") we are happy with the decision of relocating even though the setup and maintenance fees are quite hefty, but all in all this could be worth the hassle as we came from a high taxes country.
However, we have yet to find a banking solution for our needs. As we like to invest into cryptocurrencies multiple times a week/month (depending on the markets current situation), we currently can't get hands on a Maltese bank account as these banks seem to be very strict about not accepting ANY kind of transactions of such nature.
We have read many posts and heard about many experiences with European-based EMIs as well as Swiss (or jurisdictions located very near) Offshore solutions which are not cheap and therefore may not be worth for E-Commerce as we will high likely have many daily outgoing/incoming transfers.
So far we can think of 2 possible ways how this could turn out well. We hereby kindly ask you to have a look at this and share any experiences you may have had in regard. Your help is much appreciated!
1) Going with any bank, buying cryptocurrencies through OTC exchanges (such as Localbitcoins/Paxful). Therefore avoiding associations with cryptocurrencies at all, leaving us the choice to go with most banks located in Europe.
2) Finding a bank which is fine with outgoing transfers to exchanges (such as Binance/Coinbase). As these tend to be SUPER RARE and even banks which are advertising themselves as "crypto-friendly" don't even seem to run smoothly according to many user reviews, that is why we are struggling right now.
What do you think of choice number 1?
Do you have any recommendations as for number 2?
Thank you very much for your time and thoughts already!
Best regards
BtcBiz
We have now successfully incorporated our company structure in Malta/Cyprus and are close to be ready for daily business.
Our operating fields include re-selling electronics through eBay/our own Web Store. As we only operate online ("E-Commerce") we are happy with the decision of relocating even though the setup and maintenance fees are quite hefty, but all in all this could be worth the hassle as we came from a high taxes country.
However, we have yet to find a banking solution for our needs. As we like to invest into cryptocurrencies multiple times a week/month (depending on the markets current situation), we currently can't get hands on a Maltese bank account as these banks seem to be very strict about not accepting ANY kind of transactions of such nature.
We have read many posts and heard about many experiences with European-based EMIs as well as Swiss (or jurisdictions located very near) Offshore solutions which are not cheap and therefore may not be worth for E-Commerce as we will high likely have many daily outgoing/incoming transfers.
So far we can think of 2 possible ways how this could turn out well. We hereby kindly ask you to have a look at this and share any experiences you may have had in regard. Your help is much appreciated!
1) Going with any bank, buying cryptocurrencies through OTC exchanges (such as Localbitcoins/Paxful). Therefore avoiding associations with cryptocurrencies at all, leaving us the choice to go with most banks located in Europe.
2) Finding a bank which is fine with outgoing transfers to exchanges (such as Binance/Coinbase). As these tend to be SUPER RARE and even banks which are advertising themselves as "crypto-friendly" don't even seem to run smoothly according to many user reviews, that is why we are struggling right now.
What do you think of choice number 1?
Do you have any recommendations as for number 2?
Thank you very much for your time and thoughts already!
Best regards
BtcBiz
