Recent content by OffshoreExpat

Thanks for the reply. I has the idea that license is needed when dealing with 3rd party’s money. In my case i only trade my own money, do i still need license for that?

Hello, I've been trading on Localbitcoin for a while normally using personal account, however i would like to set up a company (i'll add another question concerning this) to do it professionally. Business model is simple, i buy at a cheap price on Localbitcoin/paxful/binance p2p and i sell...

Hello @litelegal , thanks for the message. Since you mention the 10M/yr turnover. i guess they don't take new business. Otherwise how do you proof the 10M/yr turnover? In my case i'm now on the process of incorporating my company in Malta.

Personal circumstances. I cannot leave the country where i live now, and where i leave capital gains on bitcoin are taxed :confused:.

Thanks a lot @Paper Chaser , To me personally is not about banking in Malta but to bank in a good bank, one that will not suddenly block you just because they want or they change their policy, which can happen with EMIs, they claim to be crypto friendly, but then you receive a payment with the...

Thank you for the advise. Bankera since legit based on the info of Bank of Lithuania, however as you said, by being an EMI the deposit grantee that banks normally provide doesn't apply here They have really bad reviews online. Actually both Bankera and Fidor have bad reviews by users. I know...

Hello @otcable , thanks for the advise. I trade with my own money and i've talked this with local agents, and as long as i don't trade in behalf of anyone else or use anybody else's money, there is no license needed. However what looks to be the most difficult part are Banks, specially the...

Hello everyone, I've been working on setting up a company for my crypto business: An example of my activity is: 1) i buy 1000€ worth of btc in Kraken 2) Then sell those at a price of 1100€ on Localbitcoins.com (to one or many traders). So 100€ profit. 3) I buy again on kraken and repeat the...

Hi @Paper Chaser , I have a similar problem. I also trade on Localbitcoin and i'm trying to set up my company in Malta for that, however all the agents i've talked to have warned me of the biggest problem, banking. They claim that finding a bank for my activity is difficult. Have you solved...

Exact situation for me with about 12k in debt.

lHello @lory . Inc file is a company that helps you creates LLC in the USA. It is very simple and a lot cheaper that other services, however it has its limitations, as you can see in my case.

Wow , i did not know that :D. Tha's probably what they LCB user is doing. So for example a trading company in Malta owned by a holding in Cyprus will pay an effective 5% corp rate in Malta and 0% dividends rate in Cyprus?

Thanks for the answers . I saw a Localbitcoin user's profile that was incorporated in Malta and had a bank account with Bank Frick (crypto and specially kraken friendly). But Malta tax is too high for my interest. I guess it is registered as a lost on the accounting, like buying milk and...

Hello everyone, I would like to know if it is possible to create a bitcoin trading company in Cyprus. An example of the activity would be: 1) i buy 1000€ worth of btc in Kraken 2) Then sell those at a price of 1100€ on Localbitcoins.com (to one or many traders). So 100€ profit. 3) I buy...

Thank you @Sols and @James Turner . @mange38, I think it is difficult (but not impossible i guess) for the Seychelles company to have a US bank account, that's why i would like to use a Delaware LLC as intermediary for the business operations and pass the remaining profits to the Seychelles bank...