It depends on how you are handling the business. Maybe you can give a brief business description and some information about the procedures you want handle the transactions so I may check what we can do.
Basically, customers want to invest in Bitcoin and my company acts as an exchanger, earning a commission. For these particular customers it would be a low volume of wires with only a few per week/month, but high value wires (10k-50k USD).
I will have to run a check on the banks we work with to see if there is any option. I assume you don't have any sort of financial license right?
correct. no license
Okay, you may want to know that there is a Belize Financial License, an entity inlcuding company and financial service license in Belize is aprox EUR 8000 that may help you to get banking almost at any offshore bank.
Thanks. I just looked into this Belize Financial license. It's an interesting setup and reasonable price for what it is. I would prefer to avoid getting a license if possible. I have seen unlicensed forex brokers using Cyprus bank accounts so I assumed this would be possible. If you have any insight into this please advise. Much appreciated.
Well it is possible to show the bank some different business than what it is, most often it works pretty good, so you will be able to avoid license and all this stuff. You just need to be able to show them a fully working website that they believe is your business and which does not has anything to do with your real business.
If that's what you want you can set it all up with a Seychelles or Belize corp and a cyprus bank account, no problem at all.
Just wanted to follow up, we have been in touch with a few of the banks we partnered with, none of them will accept your business unless you have a license for your bitcoin exchange business. It is considere to be a financial service company requiring a license.
Thanks for following up. I understand their position.
Well it is possible to show the bank some different business than what it is, most often it works pretty good, so you will be able to avoid license and all this stuff. You just need to be able to show them a fully working website that they believe is your business and which does not has anything to do with your real business.
If that's what you want you can set it all up with a Seychelles or Belize corp and a cyprus bank account, no problem at all.
This idea appeals to me, after considering the situation. I would like to order a Seychelles Company and Cyprus bank package through you. Do you have any suggestions about what type of website to do? I will have it made in advance.
You just need to make some simple wordpress or joomla site where someone can buy a service or something that can match the incoming transfers to the bank account, so you are fine. Most are finding some clickbank product or selling SEO services or similar things.
Important is that it looks real and not fake!
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