Bitcoin virtual crypto currency solutions
Since the inception of Bitcoin internationally, Healy Consultants Group PLC successfully assisted our multinational Clients expand their cryptocurrency-oriented business in every country on the planet.
Bitcoin company solutions
A sample of country solutions: Singapore UK Germany US Australia Japan India How are cryptocurrencies treated for tax purpose? Supply of services Foreign currency Private money Property Asset Currency Asset Income tax Yes Yes Yes Yes Yes Yes Yes Capital gains NO Yes Yes Yes Yes Yes Yes VAT for buying using bitcoins Yes Yes Yes Yes Yes Yes Yes VAT for trading and selling bitcoins Yes No No Yes Yes Yes, to be removed in 2017 Yes VAT for importing goods with bitcoins Yes Yes Yes Yes Yes Yes Yes What are the requirements for trading and selling bitcoins? To be regulated To be regulated Authorization is required by the BaFin Same as for money services business To be regulated soon To be regulated soon No plans for regulation so far Are cryptocurrencies regulated? No No No No No No No How receptive are banks to Bitcoin companies accounts? Challenging Challenging Challenging Challenging Challenging Challenging Challenging
Healy Consultants Group PLC Bitcoin fees
How to engage Healy Consultants Group PLC
- Pre-incorporation phase
- Our Client settles a retainer fee (click link) of US$2,450 with Healy Consultants;
- Following signature of our engagement letter and supply of Know Your Customer due diligence documents, Healy Consultants can begin engagement planning;
- We agree engagement timelines and deliverables expected by our Client.
- Company formation in a bitcoin-friendly country
- Corporate bank account setup in a bitcoin-friendly bank
- Our team assist our Client secure corporate bank account facilities without personal travel required;
- Within one week thereafter, our Client can login in his online banking account;
- If required, Healy Consultants will assist our Client open a cryptocurrency exchange wallet with a reputable exchange!
- As a last step, Healy Consultants couriers the full company kit to the Client, including original corporate documents, unopened bank correspondence and a Client feedback survey.
- Pre-incorporation phase
Initial coin offering (ICO) strategyA successful ICO project involves reaching several key milestones to attract interest from investors.
- Choosing the optimal jurisdiction to register an ICO undertaking country is a key consideration. View a list of our top Bitcoin-friendly countries now;
- To assist our Client manage their FIAT funds, Healy Consultants recommends our Client open a cryptocurrency corporate bank account with a reputable bank, without personal travel required;
- Hire expert i) development team and ii) advisory board. Most of our cryptocurrency Clients engage Healy Consultants to recruit (click link) quality employees;
- Potential investors will rate the project’s value by reviewing: i) the project’s white paper and ii) the platform’s beta version. Speak with our relationship managers to learn how Healy Consultants and our affiliates can assist you!;
- Evaluate your code is investor friendly. Lengthy code and readable modularity shows programmer savvy stakeholders the quality of the project. Involve our inhouse and affiliate IT teams to ensure your programming is up to par with latest ICO trends;
- Lastly, Healy Consultants will assist our Client to promote their initial coin offering on multiple channels, including: i) announcement on Bitcointalk.org ii) social media platforms such as, Reddit and Twitter and iii) direct promotion to quality third parties and businesses.
Why prepare for initial coin offering (ICO)?
- The easiest way for cryptocurrency start-ups to raise funds for their project is through an initial coin offering;
- The “coins” or ‘tokens” are offered to investors similarly to shares in an IPO. The most successful ICO, called EOS, generated US$289m in 2017;
- Due to the unregulated nature of ICOs and legal/fraud risks involved, Healy Consultants recommends our Client to invest in an engagement strategy document preparation.
Frequently asked questions
Is Bitcoin business activity legal?Yes, Bitcoin trade and brokerage service is legal or unregulated in many countries around the globe, including: i) India; ii) Bulgaria; iii) Bahamas and iv) BVI.
In which countries can Bitcoin annual net profits be legally tax exempt?
- BVI – A British Virgin Islands IBC company is an ideal vehicle to operate tax-exempt Bitcoin business;
- Belize – South-American Bitcoin companies prefer registering a Belize structure which since the 1990 IBC Act remains fully tax-exempt;
- Bahamas – In the Caribbean region, a Bahamas IBC is the preferred zero tax vehicle;
- Singapore – A Singapore non-resident company is a great way to book international Bitcoin profits while remaining fully tax-exempt in Singapore;
- Hong Kong – If properly structured, an offshore Hong Kong company is a tax-efficient way to operate a Bitcoin company in Asia.
Can I open a non-travel Bitcoin bank account in SEPA?Yes. A Bulgaria company can operate a Bitcoin business and have access to cheap banking transfers within SEPA.
Where can I find a Bitcoin ATM?You can find a Bitcoin ATM near you in this webpage. If you wish to register a Bitcoin ATM business, contact our relationship managers at email@example.com.
How fast can I get a Bitcoin company and bank account operational?To close a deal, begin Bitcoin trade immediately and sign a sales contract, some Clients need a fast Bitcoin turnkey solution (click link). Within three weeks Healy Consultants will supply our Client i) a Bitcoin company registration number ii) an already approved multicurrency corporate bank account number and iii) a global business address.
Can Healy Consultants help me prepare AML/KYC policy for my Bitcoin business?Yes, Healy Consultants can help your Clients by preparing a draft AML/KYC policy to support i) financial license application; ii) quality corporate bank account application submission to a Bitcoin friendly bank.
Does Healy Consultants partner with any Bitcoin friendly banks globally?Yes. Healy Consultants operates with top 5 Bitcoin-friendly banks in every continent. If you wish to open a Bitcoin-friendly bank account globally, contact our relationship managers at firstname.lastname@example.org.
10 countries where Bitcoin business is unregulated?
The vast majority of countries still haven’t passed regulations regarding Bitcoins.
Among those are:
- Hong Kong;
10 countries where Bitcoin business is lightly regulated?
However, many countries have already issued guidelines on how to regard Bitcoins.
Some of these countries are:
- The Netherlands;
- South Korea;
10 countries where Bitcoin business is heavily regulated?
The only countries that have thus far implemented regulations regarding Bitcoins activities are Bulgaria and Canada.
In relation to prohibitory regulations, Bangladesh, Bolivia, Ecuador, Iceland, Kyrgyzstan and Russia have expressed that Bitcoins activities are illegal in their territories. However, in many cases this have not been effective in banning Bitcoin mining.
Where do we see the Bitcoin industry evolving?
- Singapore – The Monetary Authority of Singapore MAS is expected to begin to regulate digital currencies and bring additional oversight to such businesses over the coming two years;
- Mexico – Because the Mexican currency is losing its value over the past year, many citizens are using Bitcoin portals for their day-to-day expenses. Consequently, the Bitcoin-accepting businesses are increasing in numbers, paired with evolving infrastructure to support the flows of funds;
- Dubai – While currently Bitcoin in Dubai is under heavy regulation, recent cooperation between Blockchain and the Dubai Government bring optimism for a new Bitcoin infrastructure in modernizing UAE;
- India – The recent demonetization in India increased dramatically the trade of Bitcoin within the country. New infrastructure and improving services by top dealers, such as ZebPay help India to become one of the key players on the global Bitcoin market;
- China – During the first few weeks 2017, the three main Bitcoin platforms have imposed limitations on margin trading following investigations by People’s Bank of China (PBC), effecting negatively global prices. It is still unclear if margin trading activities will be officially banned from the country as the central bank has not yet issued any statement. China is responsible for the vast majority of the globe’s Bitcoin trading and mining activities.
Why is opening a bitcoin multi-currency corporate bank account challenging?
- The main issue with opening a bitcoin company is the lack of standard regulation. Some countries such as Singapore, Japan, USA and some members of the EU have already taken steps towards a more solid regulation, while others still consider bitcoins illegal;
- The second main difficulty is securing a bank account. Since there are no clear regulations, bitcoin companies are regarded as high risk. Many banks are unwilling to take such risks, while others impose several conditions and high costs as security measures;
- The third main difficulty is securing bitcoin customers, as the currency is not that popular among the public. Apart from a lack of understanding, bitcoin still carries a bad reputation as being the currency used for illegal activities, which pushes away potential users.