Bitcoin virtual crypto currency solutions

Bitcoin virtual crypto currency solutions

Since 2003, Healy Consultants Group PLC assisted multi-national Clients expand their Bitcoin business in every country on the planet:

Bitcoin company solutions

A sample of country solutions:SingaporeUKGermanyUSAustraliaJapanIndia
How are cryptocurrencies treated for tax purpose?Supply of servicesForeign currencyPrivate moneyPropertyAssetCurrencyAsset
Income taxYesYesYesYesYesYesYes
Capital gainsNOYesYesYesYesYesYes
VAT for buying using bitcoinsYesYesYesYesYesYesYes
VAT for trading and selling bitcoinsYesNoNoYesYesYes, to be removed in 2017Yes
VAT for importing goods with bitcoinsYesYesYesYesYesYesYes
What are the requirements for trading and selling bitcoins?To be regulatedTo be regulatedAuthorization is required by the BaFinSame as for money services businessTo be regulated soonTo be regulated soonNo plans for regulation so far
Are cryptocurrencies regulated?NoNoNoNoNoNoNo
How receptive are banks to Bitcoin companies accounts?ChallengingChallengingChallengingChallengingChallengingChallengingChallenging

Healy Consultants Group PLC Bitcoin fees

Service required by our Client?Total engagement feesDraft sales invoice
Professional fee per Bitcoin corporate bank account only?US$7,950
Bulgaria company and Bitcoin corporate bank accountUS$9,360
EU company and Bitcoin corporate bank accountUS$12,750
India company and Bitcoin corporate bank accountUS$15,355
Singapore company and Bitcoin corporate bank accountUS$7,980

How to engage Healy Consultants Group PLC

  1. Our Client settles a retainer fee (click link) of US$2,450 with Healy Consultants’;
  2. Our Client signs our engagement letter and supplies us Know Your Customer due diligence documents;
  3. Our Client pays our Bitcoin fees by instalments;
  4. Healy Consultants Group PLC emails our Client a detailed comparison table of Bitcoin solutions;
  5. We agree Bitcoin timelines, deliverables and fees;
  6. Healy Consultants Group PLC emails our Client a detailed project plan (click link);
  7. Bitcoin company registration; if required;
  8. We supply our Client weekly detailed engagement status updates;
  9. Multiple Bitcoin corporate bank account opening;
  10. Multiple Bitcoin correspondent bank account opening;
  11. E-banking activation;
  12. Healy Consultants couriers the full company kit to the client, including original corporate documents, unopened bank correspondence and a Client feedback survey.

Bitcoins FAQS

  • 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@healyconsultants.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 email@healyconsultants.com
  • 10 countries where Bitcoin business is unregulated?
    The vast majority of countries still haven’t passed regulations regarding Bitcoins.
    Among those are:
    • Belgium;
    • Brazil;
    • Chile;
    • Colombia;
    • Denmark;
    • Estonia;
    • Hong Kong;
    • Ireland;
    • Switzerland;
    • Turkey.

  • 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:
    • Australia;
    • Germany;
    • Japan;
    • The Netherlands;
    • Singapore;
    • South Korea;
    • Sweden;
    • Ireland;
    • UK;
    • USA.

  • 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.

Contact us

For additional information on our bitcoin business services, please email us at email@healyconsultants.com. Alternatively please contact our in-house country expert, Ms. Karen Lee, directly:
client relationship officer - Karen