Suggest me which country to incorporate in (IT Hosting)

thatIT · Oct 12, 2020

Can someone give me some recommendations as to where to incorporate my new company?

I'll provide IT cloud hosting services, the physical equipment of the company (servers) are located in a European country
Payments will be made using paypal, stripe and bitpay though there are alternative to stripe that support other jurisdictions.
I prefer to have a regular bank and not a fintech account in the same jurisdiction as the incorporation is.

I have the Ukrainian nationality.

Please tell me your suggestion and most importantly why it would be beneficiary for me or the company.

Gediminas · Oct 12, 2020

Hey,

I suppose your business will be effectively managed from Ukraine? This part could be a game stopper for you to get an account in the mainstream bank. The other thing is your business activities; it's labeled as high-risk, so it will bring you some troubles too.

My question is, why you are shutting the doors to an EMI? Just find that is business-oriented.

As regards company jurisdictions, many of your competitors choose BVI. The others - entity in the EU. Do you know where your clients will be coming from? Since you need Paypal and Stripe, I would look at European company formation.

thatIT · Oct 12, 2020

What is EMI?

The actual services take place in european country, nothing high-risk about offering hosting, the company does not host any illegal websites or shady customers.

I am currently considering Cyprus, law corporate tax but they have VAT though about 70% of the customers are outside the EU or have a VAT number, still it's one the things I think kills businesses (VAT) setup is cheap and quick and from what I read a bank account shouldn't be a problem. I'm just wondering if I should go with the nominee director service or not to at least (appear) the company to be locally managed. Most remaining European countries + banks won't accept me as a Ukrainian, it's darn difficult especially since bitcoins are an accepted payment for the services I provide even though they are converted to fiat currency by the payment processor and send to the bank account immediately.