Crypto exchange company where to setup?

[happyjohn]

When reading the forum then it all comes down to 2 countries Serbia and Latvia as the low budget countries for Crypto to Fiat exchange company setup. Now I was wondering, is there any place, an agent or consulting firm that has specialized in the company setup, the bank account setup and licensing?

I would appreciate if I could get pricing model for Serbia and Latvia or a mix?

What would you suggest to do if Swiss is not an option?

 

[breezeblock]

Estonia works fine for crypto-related business. You can open a company regulated by the Financial Intelligence Unit (“FIU”) in Estonia and licensed to provide services of exchanging a virtual currency against a FIAT currency as well as a virtual currency wallet service.

 

[Martin Everson]

The company side is the least of your worries. You need to work out which fiat currencies you wish to work with firstly and which banks/emi's will offer you access to them. Don't listen to any agent that makes out that once you have the licensed company it is a walk in the park to open a real bank account....that is BS.

 

[negon]

I agree, you will have troubles finding a banking for your business unless you have connections to a bank, have a few millions available or you have someone by hand that know a bank that is willing to take some risk and open accounts for crypto businesses.

 

[jimhoe]

Singapore is pretty crypto friendly but it could be a bit on the expensive side. Also, KYC is needed for every customer so it depends.Malta is another option but again cost money to set up

 

[happyjohn]

Wouldn't it be posible to "misuse" some EMI provider somehow to offer Crypto exchange to FIAT.

I mean, say I open a mister tango business account, say I get all BTC I receive from customer exchanged by their BTC -> FIAT exchange and then make the payout to the different clients from there! Wouldn't that work you think?

One of my MT accounts has already received and paid out aprox 478,000 euro this year and no questions asked yet.

 

[Martin Everson]

But what happens to your crypto business when they will eventually start to ask questions? We all remember EPB and Leupay in the very very early days when no question were asked. How things can change very quickly .

 

[JohnLocke]

You want to consult some of the big players in Zug / Switzerland to get proper advise for your business venture. I odn't believe there is any cheap solution for you out here. You will have to pay some money to get consultancy from people that know what they are doing and have experience in this particular business activity.

 

[John Spectre]

Ukraine,Puerto Rico,Wyoming....What the guys think about that?

Nothing from them suitable for crypto business,
as well as Switzerland not suitable too

 

[negon]

Why would you think Switzerland is not suitable too?

 

[John Spectre]

Because no retail banks in swiss want to work with crypto business, except couple of private banks who will not service crypto exchange business for sure.

Without banks - it's a just expensive country for business, not better than estonia, cyprus, etc, with complex way to get crypto license.
Bitfinex is a perfect example of it - hosts in Zug for a years (one of their representative branch), and don't have reliable bank partner and still semi grey exchange in crypto community.
While at same time kraken, bitstamp, cex, etc just worked fine in their countries and have stable bank relationships.