Inc

Switzerland is where most are placing such business in Europe.

anotherDev said:

Hi,

Here is an our situation. We run a web3 trading platform (no license required, no fund custody) and we are looking to incorporate in a stress free country regarding accounting and auditing since both of these would be a nightmare in our case (though possible). Given the nature of our business running it from EU is not really possible. We are looking for a structure with access to banking that also allows us to launch a token in the feature. Team is mainly from EU, and our tax agencies are not very friendly to this model (basically impossible to work with them with crypto). Any suggestions in terms of locations?

Bahamas / Panama

And move to or to another location whilst operating via those locations

You can use a double tier structure and have an LLC as your operational part saving on all the accounting hassle

anotherDev said:

Would a CY holding with an offshore operating get bank access ? And if yes which offshore jurisdictions would be possible

When I wrote LLC I mean to write US LLC. Yes it can work with a Cyprus Co and a US LLC but this structure would have the US LLC income flowing to the CY entity and being subject to tax in CY entity.

anotherDev said:

Hmm, wouldn't the LLC be taxable on the US?

Depends on whether you would have been engaged in a trade or business in the US. If your work is unrelated to the US you should generally expect not to have to pay any taxes in the US.

I'm really fond of the way one asks very broadly without actually providing all the information and criteria one has, and then, when a response is received, one asks follow-up questions to that response, which include a new requirement that wasn't previously disclosed, while also adding further information.

JohnLocke said:

Switzerland is where most are placing such business in Europe.

anotherDev said:

What about 35% div tax? I can work with Swiss, have ties there.

OP take a consultancy hour with @CyprusLawyer101 he knows very well.

SoNewToAllShit said:

I'm really fond of the way one asks very broadly without actually providing all the information and criteria one has, and then, when a response is received, one asks follow-up questions to that response, which include a new requirement that wasn't previously disclosed, while also adding further information.

OP take a consultancy hour with @CyprusLawyer101 he knows very well.

Thank you sir!

anotherDev said:

Sounds like I committed a crime

A light one :))

anotherDev said:

Let's arrange a call

Sure, I will pm you

anotherDev said:

Hi,

Here is a our situation. We run a web3 trading platform (no license required, no fund custody) and we are looking to incorporate in a stress free country regarding accounting and auditing since both of these would be a nightmare in our case (though possible). Given the nature of our business running it from EU is not really possible. We are looking for a structure with access to banking that also allows us to launch a token in the feature. Team is mainly from EU, and our tax agencies are not very friendly to this model (basically impossible to work with them with crypto). Any suggestions in terms of locations?

I'm in Zug! You want to be in Crypto Valley, Zug!

Visit Zug, walk around, visit Crypto Valley, and make up your own mind. ;)

This is 7 years ago:
This is last year:
This is 6 months ago and Swiss legal experts are discussing Switzerland for crypto (take that with a grain of salt, but still interesting):
You can even pay your taxes in crypto (it depends on the crypto, of course). I mentioned that here: Do you buy cryptocurrency when it's at a high, like now?

anotherDev said:

I have been in Zug multiple times and I love it. But 35% dividend tax is not worth it for me. Btw, I am a digital nomad and of the countries I live is Swiss

In such case you can operate as a branch office of a foreign company in Switzerland to avoid withholding tax. It's not too bad, with a total tax of 11-12%.
You would need to set up the company in a location with no WHT.

jafo said:

I'm in Zug! You want to be in Crypto Valley, Zug!

Maybe we should take a coffee at Starbucks in Zug some day ;)

Don said:

In such case you can operate as a branch office of a foreign company in Switzerland to avoid withholding tax. It's not too bad, with a total tax of 11-12%.
You would need to set up the company in a location with no WHT.

Would that be cheaper in Estonia or places you operate, just to get some different options on the table?

JohnLocke said:

Maybe we should take a coffee at Starbucks in Zug some day ;)

Would that be cheaper in Estonia or places you operate, just to get some different options on the table?

Estonia, Cyprus, Malta would all work well for such setup.
For a small company Estonia is the cheapest and least bureaucratic, since e.g., there is no audit.

Other questions would be:
1) where you will be tax resident
2) where do you spend most time

In Cyprus you would pay extra social tax on dividends.

Last edited: Apr 10, 2024