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Samoa IC - really good choice for crypto only bussines?

ijdl

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Aug 1, 2022
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Does samoa really that good or am I missing something?
- no consolidated accounting and audit required
- zero tax on foreign income
- realatively cheap incorporation and maintenance
- no substance requirements (?)
- confidentiality (although not required in my case)
I dont need fiat bank or EMI.

Also FATF/regulators seems to be shy about Samoa for some reason, which is not the case with similar jurisdictions.
 
Belize or Cook Islands LLC has the same features but is more well known compared to Samoa and you will have better chances of opening an account at a crypto exchange.

An even better option is a Canadian BC LLP which is in practice an IBC with no accounting/reporting requirements and no UBO register (public nor private). It's also possible to open an account at Kraken.com for it, however you profile mentions Russia and I'm not sure if you have Russian citizenship/residency - if yes, that might be a problem (for Kraken).
 
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I plan to use local crypto exchanges since USDT -> RUB has much better rate than USD -> RUB.
As for other exchange, I recently verified Kraken and FTX accounts with russian passport and residency with zero problems and questions.
From what I read Samoa IC has no accounting and audit requirements as it wont be crypto exchange or fund (only managing my own money).
I like Samoa because it has no substance requirements and regulators somewhat respect it.

Also accepting payments in crypto is not prohibited there
 

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