Structure for business accepting crypto & banking issues related to debit card

[madihrb]

Hello,

I need assistance for business structure and I am confused about dealing business side as I am programmer and handling accounts, banks etc is pretty tough.

I started online web hosting business last year, my business accept crypto only. The business has 35k USD monthly revenue and is expected to grow. 80 to 90% revenue goes for supplier payments which I used to pay via payoneer debit card.

My previous business structure was that I get bitcoin payments from my 1000+ clients, I convert it to payoneer from localbitcoin and pay for suppliers. Everything was good suddenly payoneer blocked my card. Now I am looking for proper solution.

I live in Dubai for last 5 years and I am from Pakistan, as I am high risk country citizen, many banks make things complicated.

Now one structure come to mind is get local license at Free Zone in Dubai and open bank account here in Dubai but issue is banks here are not friendly to crypto.

Any advise how and what is best business structure for the scenario I mentioned? I am tried of running greyscale operations like I did with payoneer etc, how can I run a proper legal operation where I can have source of funds and money trail etc

 

[holywater]

What about AdvCash card for alternative?
You can just load (top up) their card with cryptocurrency directly.

It seems like you are running hosting company like b***a****host.

You might check out offshore hosting company I mentioned run by Pakistan.
B***a****host.

There are plenty of hosts like you know No**gara (ex Ecatel), Abe**host (They are not offshore tho) are located in netherlands.

Maybe its worth to check them out.

I'll edit post if it's problem to mention offshore hosting companies.

 

[madihrb]

I believe these companies are really located at Netherlands and they are old enough to get certain revenue. I am new and I am having tough times to plan structure.

Also they accept via crypto merchant processors like bitpay or coinpayments etc I being from Pakistan is not allowed to work these payment processors so I receive payment direct at my wallet and then convert it to fiat using exchanges.