Topic: (HELP) - Which are the most friendly countries for a crypto startup? - page 2. (Read 217 times)
July 01, 2021, 07:51:19 PM
In which continent you prefer to do business. I think it's a factor that we should know so that we'll know which country from that particular continent you prefer to operate. North America I think is out of the list already as they're very strict. If it is in Asia, Singapore really is a good country and I think you can count on Japan as well.
July 01, 2021, 07:27:42 PM
There are different types of friendly. Let's see if I can cover a few of the basics.
Philippines I vaguely remember reading about them implementing a 0% cryptocurrency tax years ago. Their cost of living is relatively low. They have beautiful beaches and a nice tropical environment. Could be a good option for digital nomads and crypto startups although I can't say I know anyone who has tried.
Iceland Their cold climate reduces cooling costs for data centers and crypto miners. I think they're one of the most carbon neutral and low emission nations on earth. They may also be one of few nations who legally punished bankers in their country for their role in the 2008 economic crisis. They have had crypto friendly projects on native soil like aurora coin for many years.
Puerto Rico They only require a 5% income tax and being a US territory gives them some protections and humanitarian aid from the united states. These two factors could combine in the future to result in the country becoming a hotbed for start ups and finance.
Philippines I vaguely remember reading about them implementing a 0% cryptocurrency tax years ago. Their cost of living is relatively low. They have beautiful beaches and a nice tropical environment. Could be a good option for digital nomads and crypto startups although I can't say I know anyone who has tried.
Iceland Their cold climate reduces cooling costs for data centers and crypto miners. I think they're one of the most carbon neutral and low emission nations on earth. They may also be one of few nations who legally punished bankers in their country for their role in the 2008 economic crisis. They have had crypto friendly projects on native soil like aurora coin for many years.
Puerto Rico They only require a 5% income tax and being a US territory gives them some protections and humanitarian aid from the united states. These two factors could combine in the future to result in the country becoming a hotbed for start ups and finance.
July 01, 2021, 05:56:47 PM
It depends a lot on your needs. Firstly, if you are completely free to choose your location or you have some restriction such as having to be in Asia, Europe, Middle East, etc... Second, some are more friendly in certain aspects. For example you may want to pay minimal taxes for which you would choose Luxemburg, Ireland or any tax heaven. However, you may be looking for qualified professionals and a solid legal system that may be present in UK or in some states of the USA. The names that are frequently mentioned are:
- Switzerland
- Estonia (which has a virtual citizenship)
- Luxemburg
- Singapore
- All tax havens
- Switzerland
- Estonia (which has a virtual citizenship)
- Luxemburg
- Singapore
- All tax havens
July 01, 2021, 05:49:01 PM
Hi there,
Kindly help me with your advice, which is the most friendly country when comes to a business startup assuming our private/pre-sell will be around ~1-3mil USD? Our project will be a utility token.
Malta is not an option as a friend told me it's on the "grey list" of the banks.
Others I found intersting: Singapore, Liechtenstein
Please advise and why you think will be good?
Many thanks in advance!
Instead of El Salvador, I would rather suggest your Estonia, it's a great country for bitcoin startups and has been quite supportive to entrepreneurs, they have strong money laundering rules and therefore they carry a good reputation in international community, unlike Malta. Another good option can always be Switzerland, they even have a sort of license for bitcoin startups as you can register yourself as fintech Startup and get some help from the government.Kindly help me with your advice, which is the most friendly country when comes to a business startup assuming our private/pre-sell will be around ~1-3mil USD? Our project will be a utility token.
Malta is not an option as a friend told me it's on the "grey list" of the banks.
Others I found intersting: Singapore, Liechtenstein
Please advise and why you think will be good?
Many thanks in advance!
July 01, 2021, 02:54:59 PM
Hi there,
Kindly help me with your advice, which is the most friendly country when comes to a business startup assuming our private/pre-sell will be around ~1-3mil USD? Our project will be a utility token.
Malta is not an option as a friend told me it's on the "grey list" of the banks.
Others I found intersting: Singapore, Liechtenstein
Please advise and why you think will be good?
Many thanks in advance!
Instead of El Salvador, I would rather suggest your Estonia, it's a great country for bitcoin startups and has been quite supportive to entrepreneurs, they have strong money laundering rules and therefore they carry a good reputation in international community, unlike Malta. Another good option can always be Switzerland, they even have a sort of license for bitcoin startups as you can register yourself as fintech Startup and get some help from the government. Kindly help me with your advice, which is the most friendly country when comes to a business startup assuming our private/pre-sell will be around ~1-3mil USD? Our project will be a utility token.
Malta is not an option as a friend told me it's on the "grey list" of the banks.
Others I found intersting: Singapore, Liechtenstein
Please advise and why you think will be good?
Many thanks in advance!
July 01, 2021, 02:20:43 PM
The recent one; El Salvador. If I'm correct, Bukele has recently announced that if some wants to start a crypto project, they will get immediate citizenship there. So, that can be a good option for you although I don’t know about their laws & regulations.
Source- https://www.indiatoday.in/technology/news/story/el-salvador-offers-citizenship-to-bitcoin-holders-approves-bitcoin-as-official-currency-1812688-2021-06-09
I was thinking of El Salvador too, and I think unlike very developed country you might find it peaceful -that is without much aggressive restrictions- I don't know what your no go region is, but you could also try out Africa, very much overlooked, under-rated but Africa has very serious minded and interested crypto-currency fans, most times African has to patronize crypto-currency services from thousands of miles away.Source- https://www.indiatoday.in/technology/news/story/el-salvador-offers-citizenship-to-bitcoin-holders-approves-bitcoin-as-official-currency-1812688-2021-06-09
July 01, 2021, 01:32:35 PM
The recent one; El Salvador. If I'm correct, Bukele has recently announced that if some wants to start a crypto project, they will get immediate citizenship there. So, that can be a good option for you although I don’t know about their laws & regulations.
Source- https://www.indiatoday.in/technology/news/story/el-salvador-offers-citizenship-to-bitcoin-holders-approves-bitcoin-as-official-currency-1812688-2021-06-09
Source- https://www.indiatoday.in/technology/news/story/el-salvador-offers-citizenship-to-bitcoin-holders-approves-bitcoin-as-official-currency-1812688-2021-06-09
That's... somewhat of a curious bit of news I seem to have missed. Have already rather seen examples of people moving jurisdictions and changing nationalities as business opportunities open up like this. Wouldn't exactly say El Salvador citizenship is a golden passport, but with enough tax break benefits, it might just attract the sort of enterprise they're looking for.
Still don't think they've really given it proper thought but should be interesting to see a blockchain hub in LatAm.
July 01, 2021, 12:35:41 PM
El Salvador is defiantly the most friendly crypto country, because they even accept bitcoin as legal payment system and legal money. However, as far as I know even on El Salvador they made only bitcoin legal nothing else and they didn't accept any other alternative coins yet. Also, El Salvador is not completely safe country specially if you are a foreign person and don't know anyone there. Between the countries I saw (mostly Asian) Singapore was the best option. There are already many companies there and as I saw the country was safe for travel, so, I vote for Singapore. However, you will need to do more research.
Thanks for your answer. Indeed, Singapore looks like the most friendly one, I also research a bit, someone said Liechtenstein is also friendly, El Salvador is not an option from a business point of view, it's too "new" for the market.
I saw also Portugal and Gibraltar are nice, but I don`t hear anyone talk about it, Malta is to easiest choice but because lately, they are on the grey list of the banks, will be very hard to manage.
July 01, 2021, 12:17:16 PM
Imagine someone who is selling social media accounts asking people in bitcointalk forum where to invest 1-3 million dollars, this sounds so fake 
Better do your own investigation instead of asking random people to find solution for you, and I think that there is no country who would support one more ''utility token'', but you can start something with Bitcoin almost everywhere.
Better do your own investigation instead of asking random people to find solution for you, and I think that there is no country who would support one more ''utility token'', but you can start something with Bitcoin almost everywhere.
July 01, 2021, 11:47:50 AM
El Salvador is defiantly the most friendly crypto country, because they even accept bitcoin as legal payment system and legal money. However, as far as I know even on El Salvador they made only bitcoin legal nothing else and they didn't accept any other alternative coins yet. Also, El Salvador is not completely safe country specially if you are a foreign person and don't know anyone there. Between the countries I saw (mostly Asian) Singapore was the best option. There are already many companies there and as I saw the country was safe for travel, so, I vote for Singapore. However, you will need to do more research.
July 01, 2021, 10:20:12 AM
The recent one; El Salvador. If I'm correct, Bukele has recently announced that if some wants to start a crypto project, they will get immediate citizenship there. So, that can be a good option for you although I don’t know about their laws & regulations.
Source- https://www.indiatoday.in/technology/news/story/el-salvador-offers-citizenship-to-bitcoin-holders-approves-bitcoin-as-official-currency-1812688-2021-06-09
Source- https://www.indiatoday.in/technology/news/story/el-salvador-offers-citizenship-to-bitcoin-holders-approves-bitcoin-as-official-currency-1812688-2021-06-09
July 01, 2021, 08:18:44 AM
Hi there,
Kindly help me with your advice, which is the most friendly country when comes to a business startup assuming our private/pre-sell will be around ~1-3mil USD? Our project will be a utility token.
Malta is not an option as a friend told me it's on the "grey list" of the banks.
Others I found intersting: Singapore, Liechtenstein
Please advise and why you think will be good?
Many thanks in advance!
Kindly help me with your advice, which is the most friendly country when comes to a business startup assuming our private/pre-sell will be around ~1-3mil USD? Our project will be a utility token.
Malta is not an option as a friend told me it's on the "grey list" of the banks.
Others I found intersting: Singapore, Liechtenstein
Please advise and why you think will be good?
Many thanks in advance!
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