Does Gibraltar have a better reputation than BVI especially for banks?

[flyingadventures662]

Hi,

I am wondering if it's worth to open a Gibraltar vs BVI company.

AFAIK the Gibraltar due diligence is much heavier and also I will need to submit an annual return (although taxed a 0%). So Gibraltar will cost me more efforts.

The only reason I would do it is as I think it has better reputation overall and it would make it more likely to get a bank account somewhere (but it should be noted I will do mainly crypto personal trading and will need transactions to and from exchanges so it would be hard anyway).

Do you think it's worth the effort and would I gain anything, especially when it comes to banks/EMIs by incorporating in Gibraltar?

@Gediminas Especially your opinion is highly appreciated here.

Anyone else kindly share your thoughts as well.

 

[Sols]

Yes, Gibraltar does have a better reputation than BVI. It has decreased since Brexit and no longer being EU territory, though, but it's still more reputable than BVI.

Banking will always be difficult for a company which has no connection to where they're incorporated and which has signs of being used for tax evasion (incorporated in a low/zero tax jurisdiction with owner and operations somewhere else).

 

[clemens]

Don't you guys think banking difficulty is the same for BVI and Gibraltar?

I believe depending on the right provider (offshorebvi.com) they may be able to open an account for a BVI company. I have no clue about Gibraltar.

 

[flyingadventures662]

Don't you guys think banking difficulty is the same for BVI and Gibraltar?

I believe depending on the right provider (offshorebvi.com) they may be able to open an account for a BVI company. I have no clue about Gibraltar.

Do you think they may be able to open a bank account for a crypto company though?

 

[clemens]

Do you think they may be able to open a bank account for a crypto company though?

You may ask them. They have strict requirements and KYC but their customer support is pretty good.

You may also approach
https://www.apollo-international.com/jurisdiction/cyprus

 

[Sols]

Don't you guys think banking difficulty is the same for BVI and Gibraltar?

Similar but marginally easier with Gibraltar. It's closer to UK both physically and politically than BVI.