company to receive small cryptopayments for service 3500$/month

[Cato]

If a person expects 3500$ in 3 or 4 crypto payments per month for esoteric services or consulting provided over the internet, what is the best country to open an business and EMI/bank account for that? The payments received shall be converted to fiat and send to private bank account of the person as private income in his country of residence. Do I need to collect KYC information from the customers and how does that look like? A single webpage where they can buy a course or package? How does the accounting look like? No bank account need to hold more than 10k$. The intention of that structure is enabling this person to have a basic regulated income with proof of SOW over time.

 

[TheShortOne]

Such amounts won't set off any alarms, as long as the funds come from clean sources. Yet be prepared to provide information about the transactions. I'd recommend to use an established payment processor such as NowPayments for your setup. They also offer the option to directly send you the money in fiat to your bank account. As they have their own AML procedure in place it makes it harder to fight the payments later in case someone doubts their source.

If you decide against such a processor and want to deal with the payments all by yourself you should atleast use AMLBot to check the addresses the payments come from not to end up with dirty coins. It's a rather low-cost solution for most basic AML checks and small volumes such as yours, I think it's about USD 0.25 per check. Not as reputable as Elliptic which starts at 10k/year.