Crypto and Blockchain Offshores — Licensing, Registration and Regulation
Creating your blockchain company offshore could be your best business choice. How is that? There are many good reasons to set your crypto project in an offshore country: the taxation is notoriously low (often 0%) and the authorities are very permissive. This allows you to grow your project with a minimum of constraints.
Not all the countries displayed here are offering an offshore crypto license. Some of these countries are simply tolerating any form of business, as long as you do not engage in transactions with the residents of this country. This kind of set-up will flag you as untrustworthy, because people will notice that nobody is monitoring what you are doing with their assets. Also, in the best offshore jurisdictions for crypto, you must obtain blockchain permits in all other jurisdictions you are operating in.
Getting an official cryptocurrency permit in offshore jurisdictions is often simpler than in traditional countries. You provide the authorities with a detailed business plan and with carefully prepared compliance documents and procedures (LegalBison can assist you for that) and you will be granted a successful crypto company registration.
Which crypto offshore license to choose for my company?
As per any kind of financial services, many offshore jurisdictions are developing regulations that are clear and simple, to attract entrepreneurs. This is why the licenses provided there are often simpler to get.
A fantastic example is the “virtual asset services provider” license in the Cayman Islands. Interested in the many possibilities offered by the blockchain, Cayman Islands have taken a regulatory stance that encourages innovative and ambitious projects, while providing them with a standardized and worldwide-recognized compliance rule book.
Any kind of crypto business is possible in the Cayman Islands: blockchain trust, DAO, DeFi protocols, peer-to-peer exchange, DApps, NFTs, etc.
There are alternatives to the Cayman Islands. Depending on your business model, our experts will advise you on the best suitable offshore country to start up your crypto company.
Managing an offshore company from anywhere in the world
One of the advantages of registering a crypto company offshore is that you don’t need to reside in the place of establishment. Some jurisdictions like the Seychelles do not require any presence at all for your blockchain startup. Singapore and other heavier frameworks also allow you to work from your home country, but at a condition of renting a local office and hiring personnel. The Singapore blockchain license asks for substance, and so do more classical offshore countries, such as the British Virgin Islands or Saint Vincents and Grenadines.
The process of registering an offshore crypto company is simple. Once you have been duly advised on your choice of jurisdiction, you only need to provide a set of documents and LegalBison will take care of your company formation. If the authorities require, or if you want to gain trust among your clients, a complete set of AML-KYC documents and procedures will be delivered for you to easily implement them into your business model. This way, you are making sure that neither your company nor your clients will be at risk of wrongdoing.