Cayman, BVI or UAE for Crypto Trader

[Blonk]

Hi guys,

I am a crypto trader in a high tax jurisdiction and looking for the best location to form a company offshore to continue trading but not in a personal capacity and only pay dividends many years in the future.

I've been looking for months to find a solution/best option with regards to this. so hopefully someone can help.

I have looked at a PCC in the Isle of Many as I could own less than 10% of the shares and not be applicable to CFC rules but this is difficult to find someone to set up.

Cayman Exempted company seems like a good option but again CFC rules may be an issue.

UAE would require me to move there.

Anyone have advice or has done something similar?

 

[Fred]

Hi @Blonk ,

if you are living in a high tax jurisdiction you have to move anyway.

From the jurisdictions you have mentionted the easiest Residence would be with the UAE as the Company Formation grants you the Residence Visa.

In anyway you have to move either to a 0% tax residence country or to country with favorable CFC rules so that Cayman or BVI would even makes sense.

Both Cayman and BVI are already in some way blacklisted when it comes to the banks and this in combination with Crypto is making a lot of troubles.

However if Fiat Banking isn't important to you maybe the BVI in combination with a favorable CFC rules residence could make sense as non-fiat instituations like Bybit are located in the BVI as well.

 

[Blonk]

Hi @Blonk ,

if you are living in a high tax jurisdiction you have to move anyway.

From the jurisdictions you have mentionted the easiest Residence would be with the UAE as the Company Formation grants you the Residence Visa.

In anyway you have to move either to a 0% tax residence country or to country with favorable CFC rules so that Cayman or BVI would even makes sense.

Both Cayman and BVI are already in some way blacklisted when it comes to the banks and this in combination with Crypto is making a lot of troubles.

However if Fiat Banking isn't important to you maybe the BVI in combination with a favorable CFC rules residence could make sense as non-fiat instituations like Bybit are located in the BVI as well.

Thanks Fred. Do you have any recommendations on who would be able to assist in setting up a company in the UAE?

I have spoken to a few but are taking days to weeks to reply. This was actually my number one choice. Move to the UAE ASAP and get this going.

Would I still need to move if I took zero profits from the company and kept all the trading and profits within the business as crypto?
Fiat banking isn't really important to me as I have other sources of income to sustain my lifestyle.

 

[Fred]

Well as a Dubai based Service Provider we can help you with this setup for sure.

Just send a PM or Mail to the contact details you can find on our website if click the banner below.

Everything else will be discussed further based on your personal details you provide to us.