Best place to incorporate

[Petrichoroma]

Where can I incorporate a crypto services company and get a bank account (€ or $) that allows me to receive and send funds related to crypto no questions asked? Basically the company will buy and sell crypto on several exchanges and do international arbitrage. 0 tax jurisdiction preferred obviously.

 

[Samuel Newman]

Where can I incorporate a crypto services company and get a bank account (€ or $) that allows me to receive and send funds related to crypto no questions asked? Basically the company will buy and sell crypto on several exchanges and do international arbitrage. 0 tax jurisdiction preferred obviously.

there are few ways to make it work for you
since 2018 most banks do not accept business connected with crypto in anyway
for now crypto is compared to such high risk as forex brokerage activity, because it is used frequently for money laundering and it's difficult for banks to check if your deals are real

so, 1) legal and reliable option: Estonian company+Estonian crypto exchange and ICO license+ bank account in EU (Malta, Cyprus, Serbia, Montenegro)
2) cheap and fast option: offshore company + Mistertango

 

[Safa]

Where can I incorporate a crypto services company and get a bank account (€ or $) that allows me to receive and send funds related to crypto no questions asked? Basically the company will buy and sell crypto on several exchanges and do international arbitrage. 0 tax jurisdiction preferred obviously.

You have a budget or a Average Joe that want to make some fast money?

 

[Petrichoroma]

You have a budget or a Average Joe that want to make some fast money?

I'm not sure what you're implying. I think it's pretty clear what I'm looking for from my question. I didn't ask how much, I asked where. Do you have any recommendations?

 

[Safa]

well well first thing is to read the forum so you would know that without any budget you can put your crypto venture up the arse! It's required to know if you have safed up $1000 to start your business or if you are a multi million dollar operation that has the budget and money to setup your company say in Zug (Switzerland) or in Malta or if you have to setup your company in some seek and hide place.

 

[Petrichoroma]

well well first thing is to read the forum so you would know that without any budget you can put your crypto venture up the arse! It's required to know if you have safed up $1000 to start your business or if you are a multi million dollar operation that has the budget and money to setup your company say in Zug (Switzerland) or in Malta or if you have to setup your company in some seek and hide place.

I purposely didn't mention budget since it's not an issue. And you definitely don't need to be a multimillion dollar operation to set up in Malta, I don't know from where you get that impression. So do you have any recommendations?

 

[Safa]

You need to be licensed and approved by most authorities around in Europe in order to manage and maintain a crypto exchange! So you need to have a license or be registered as financial service provider / entity if you want just a slight change to get a bank account in the very limited banks around for your crypto business.

This leads me back to how mcuh money you have. As you may know a Swiss bank will don't even bring you a cup of coffee if you go in there and tell them to open an account for you but you don't have any money or you have safed up a few thousand euro during your live time. The same goes for many other banks.

This is the financial world and they will see the money! If you can't show them the money they will kick you out and even send you a bill for the cookie and coffee you got under the meeting where they laughed the entire time.

So back to the fact. If you have small budget you want to setup "something" in Belize, Seychelles, St. Kitts or Puerto Rico! Forget about banking, you will be depending on some sort of EMI to help you with that part or you will need to make up a cover business which most often anyway will decline your project. Now a days banks want to see a real business with live people and live office. So unless you plan to move your live to some of the mentioned offshore jurisdictions this is going to be terrible hard.

I hope it gives you a better picture of the situation. If you want to play with the big guys you have to move like them otherwise you are out of business before you got started.

 

[Petrichoroma]

I never mentioned operating a cryptocurrency exchange. I said handling funds related to crypto and opening corporate accounts for this company on several crypto exchanges. This is not a licensable activity in Europe or anywhere else, unless you are handling third party funds, then it becomes licensable. And even if I wanted to operate a crypto exchange from Europe, your information is not correct, it is only licensable in 3 jurisdictions and you can set up and operate an exchange without a license in most EU countries right now such as Slovenia and Estonia to name a few.... But I am looking for a low tax (or no tax) jurisdiction outside the EU.

 

[John Spectre]

For your question you could incorporate any company in the EU as you wish: Cyprus, Malta, etc.
The main issue with the banks.
Since the only few of them in the world accept crypto business, my recommendation is to use banks that are used by crypto exchanges.
Just go to bitstamp, kraken, bitbay, cex.io and any other exchange that operate with fiat, check what bank they are use and try to open bank account there for your company.
With respect to other people that comments in this thread - I don't have any information that reliable banks in Swiss, Cyprus, Malta etc operate with money coming from crypto.
But for sure I have information from different people who tell that those banks are NOT operate with crypto.
So, instead of just going to every bank in the EU or world and talks with them about your business with hope about opening account(which will lost of time for 99% banks), I prefer just to go there where crypto business is accepted activity for sure.