Sell services only to web3 company in crypto. Which jurisdiction?

[MarkusCostigan]

Hi guys, the company should sell services exclusively to web3 companies and would only accept cryptocurrencies. Which jurisdiction would be best?

Let's say a company from the BVI, Singapore or UAE receives an invoice from Panama for example. Is this a problem of any sort? Considering that the vast majority are based in BVI, Seychelles, Belize, Singapore, Panama, UAE etc.

Thank you so much.

 

[Sols]

Why not incorporate where you live? That's usually the easiest unless where you live is very crypto hostile.

 

[EliasIT]

Wait, your customers are located in BVI, Seychelles, Belize etc ? Setup a UK LTD to work with the customers from these countries and transfer the money to a local company. Doing business with such countries, if located in EU, could put you in the spotlight of the tax office.

 

[ilke]

Hi guys, the company should sell services exclusively to web3 companies and would only accept cryptocurrencies. Which jurisdiction would be best?

Let's say a company from the BVI, Singapore or UAE receives an invoice from Panama for example. Is this a problem of any sort? Considering that the vast majority are based in BVI, Seychelles, Belize, Singapore, Panama, UAE etc.

Thank you so much.

There should not be a problem, no.

But consider your local tax implications. As @Sols said, it makes more sense to incorporate where you are resident/where the company would have a PE unless it's explicitly going to have problems with crypto (or if you don't want to play by the rules and PE taxation is unlikely to be enforced).

I don't think your customers would be affected by your company being in Panama. Maybe they don't want to make payments to a Panamanian company because of their own choices or potential lack of reputation.

Since you (presumably) will probably not need banking, you could maybe pick a cheap IBC jurisdiction as well, like Nevis.