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Offshore company with bank that supports buying crypto

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lazerfocused

New member
Hi all,

I'm based in Thailand, and have trouble transferring out large amount of USD (> $5m) to invest in cryptos as an individual. I'd like to set up an offshore company, so that I can wire from Thailand to the company's bank account, then make another transfer to crypto exchanges. No need to be able to cash out cryptos, just need to be able to fund crypto exchanges.

(Bank Account in Thailand) => (Bank Account of Offshore Company) => (Crypto exchanges: Binance, FTX, etc)

I will be investing my own personal funds, and not running any kind of business. Any thoughts on which countries and banks are guaranteed to work for the set up above? Assuming I can transfer out of Thailand to any offshore that I own.
 

Fred

Dubai Expat
Mentor Group Gold
Elite Member
Commercial Service
Hi @lazerfocused ,

if it's really necessary to go the route with a Company Setup we can help with the Dubai Company Formation + residence Visa and local UAE Business Bank Account.

If personal account is sufficient - for what you have mentioned you can look into banks in SG. They should be fine with your venture.

Personal Bank Account still very well possible with DBS -> seems like the perfect fit for what you have mentioned.

Avoid EMI for the volume you mentioned as even with all documents in place they get quick nervous aboth 1+m and imagine to cashout 50-100m in 10 years.
 

CoffeeExpert

New member
Hi @lazerfocused ,

if it's really necessary to go the route with a Company Setup we can help with the Dubai Company Formation + residence Visa and local UAE Business Bank Account.

If personal account is sufficient - for what you have mentioned you can look into banks in SG. They should be fine with your venture.

Personal Bank Account still very well possible with DBS -> seems like the perfect fit for what you have mentioned.

Avoid EMI for the volume you mentioned as even with all documents in place they get quick nervous aboth 1+m and imagine to cashout 50-100m in 10 years.
I think singapore is still closed to foreigners. Will dubai let you in with a vax certificate but no pcr? What are the requirements for a permanent visa for someone who is crypto wealthy but no business?
 

Fred

Dubai Expat
Mentor Group Gold
Elite Member
Commercial Service
I think singapore is still closed to foreigners. Will dubai let you in with a vax certificate but no pcr? What are the requirements for a permanent visa for someone who is crypto wealthy but no business?
Yes they let you in with a vax certificate.

The Dubai Company grants you the Residence Visa. Once you have received the Residence Visa together with the Emirates ID (local ID card) we open the Business & Personal Bank Account with local UAE banks. As the local UAE banks consider you fully as a local UAE resident with the Residence Visa, Emirates ID and local phone no. on file - no reporting of your financial statements under CRS is triggered.

To keep the residence visa active you are only required to be every 6 months for 1 day in the UAE. Pretty comfortable for a fly over.

That's it.
 

lazerfocused

New member
Hi @lazerfocused ,

if it's really necessary to go the route with a Company Setup we can help with the Dubai Company Formation + residence Visa and local UAE Business Bank Account.

If personal account is sufficient - for what you have mentioned you can look into banks in SG. They should be fine with your venture.

Personal Bank Account still very well possible with DBS -> seems like the perfect fit for what you have mentioned.

Avoid EMI for the volume you mentioned as even with all documents in place they get quick nervous aboth 1+m and imagine to cashout 50-100m in 10 years.
Hi Fred, could you PM me? I'd like to talk in more details.
 
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Offshore Bank Accounts
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