CRYPTOCURRENCY AND ICO BUSINESSES

(Cryptocurrency and ICO business) Corporate establishment + account opening

Currently, in the case of cryptocurrency and ICO-related businesses, regulations are being strengthened in each country, and banking transactions are not easy, especially in Hong Kong and Singapore.

Recently, Estonia, Hungary, and Poland have also restricted banking transactions for cryptocurrencies and ICO-related businesses, and existing accounts are also restricted.  Often closed.  Therefore, the currently available alternatives are the Hungarian virtual account VirPay and the Lithuanian  Majestic Financial (http://www.majestic.eu)  and Hong Kong, Singapore and
It can be opened as a Seychelles corporation.

Please see below for specific information.

1. Established Hong Kong corporation + Hungary VirPay (or Lithuania) Majestic Financial)

Incorporation + Account opening + Management cost for the first year: HKD27,000

Estimated lead time: 2-3 weeks  

** An account can be opened without a separate visit to Hong Kong or Hungary (or Lithuania).

** For Hong Kong corporation establishment, management, and taxation, please refer to the "Hong Kong corporation establishment guide" page.

 

2. Seychelles corporation established + Hungarian VirPay (or Lithuania Majestic Financial)

Incorporation + Account opening + Administrative cost for the first year: HKD41,500

Estimated lead time: 2-3 weeks

** An account can be opened without a separate visit to Hong Kong or Hungary.

** Annual maintenance cost of Seychelles corporation: HKD12,000

** Seychelles corporation is  There are no accounting/tax obligations.

Bitcoin OTC and Escrow Brokerage Service

Bitcoin Transaction Type: 1. OTC (over-the-counter) / 2. Escrow

1. OTC Progress Guide

  No minimum/maximum amount limit
  Transaction fee: 3-4% (including spread)

  Required documents for KYC: Copy of passport, proof of address within 3 months, deposit balance on bank statement or proof of holding Bitcoin wallet (Satoshi test conducted)

 

Procedure:
1) KYC verification
2) OTC transaction preparation and Satoshi test
3) Buy/Sell Order
 
4) Transaction execution
5) Fund execution and Bitcoin wallet transfer
6) End of work after confirmation of receipt

 


2. Escrow information

  Minimum amount: USD1,000,000
  Transaction fee: 3.5~5% (including spread)

  Required documents for KYC: Copy of passport, proof of address within 3 months, deposit balance on bank statement or proof of holding Bitcoin wallet (Satoshi test conducted)

 

Procedure:
1) KYC verification
2) Transaction preparation and Satoshi test
3) Legal review and contract writing
4) Buyer/seller matching and transaction amount deal
 
5) Transfer the transaction amount to the law firm's escrow account / Transfer the transaction bitcoin from the seller to the buyer's wallet
6) After confirming the transfer of Bitcoin, funds are executed from the law firm escrow account to the seller
8) End of work after confirmation of receipt

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