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We’re at a crossroads here and need your expertise. As many of you know, the environment in so-called Western countries is becoming increasingly hostile towards crypto enthusiasts. With tax increases, invasive directives, and a general anti-crypto sentiment, it’s getting harder to operate. So, we’re seriously considering relocating to a more crypto-friendly jurisdiction and are looking for some real insights from those of you who’ve already set up offshore companies.
We’re not interested in superficial responses like “move to Dubai” (no offense to Dubai fans out there). What we need are detailed, practical experiences from those who are running their businesses through offshore entities. Here’s what we’re particularly interested in:
Which Jurisdiction Did You Choose?
Why did you choose this specific country?
What are the key advantages of setting up there?
Any downsides or challenges you’ve encountered?
Operational Benefits
How has setting up an offshore company helped your business operations? (e.g., banking, ease of doing business, access to global markets)
Have you noticed significant savings or benefits in terms of lower taxes or less regulatory pressure?
Taxation and Legal Compliance
How does your offshore setup interact with your home country’s tax laws?
When you pay yourself from the company, what’s the tax situation like in your home country?
Have you faced any legal issues or challenges related to your offshore structure?
Real-World Impact
Has this move actually made your life easier? Is it worth the hassle?
Do you feel more secure about your assets and business operations?
How has the move affected your ability to do business, both locally and globally?
Recommendations and Warnings
What would you recommend to someone considering this move?
Are there any pitfalls or common mistakes to avoid?
Please be thorough in your responses. This thread is a place for in-depth discussions, real-world experiences, and advice. If you’re living the offshore life, we want to hear from you!
Thanks in advance for sharing your wisdom and helping us all navigate these tricky waters. Your input could be the difference between someone making a successful move or running into a costly mistake.
I would love to give response to this in public but that might get me in trouble when I land to the said country!
I will send you experience in the private if that’s okay? @SWAPD let me know.
Fun fact: My country doesn’t have stripe / paypal / wise / fb / any social media monetization ELIGIBLITY or any thing that helps you do business online - I still maaged to make millions out of fb and other platforms with 0% taxes.
There is no requirement to maintain accounting records,
There is no requirement to pay share capital,
There is no VAT,
There are no customs duties,
To register a company, only one director or shareholder is required—either a natural person or a legal entity—from any country (the same person can be used for the purpose of company registration),
The details of directors and/or shareholders are not included in any founding documents of the company and do not appear in any public records,
Strict confidentiality laws apply.
The most common and highly advantageous type of company is the International Business Company (IBC). To benefit from tax advantages, the company must have a registered address in the British Virgin Islands, which will appear on company documents—a virtual office service can be used for this purpose.
IN ADDITION, they have recently been whitelisted by the EU/US, so wires to/from get less attention.
Our lawyer (one of many we’re still set to talk with) advised against it. He said getting bank accounts on the islands is next to impossible these days. Tax still is paid on our end, and there are, in general, lots and lots of problems when running a company from Europe. One lawyer recommended a Canadian LP, which sounds crazy, but most of his claims check out.
