Most popular bitcoin friendly countries

• Having a corporate bank account for a Bitcoin company offers the following advantages:
  • Once registered, a cryptocurrency company, will be more attractive to Clients if payments are processed by a stable corporate bank account by a recognizable bank;
  • Having multiple corporate bank accounts for digital asset business will minimize financial and FX risks for our Clients having expenses and/or revenue sourced from several countries;
• Our digital asset management team recommends our Client open a corporate bank account is one of the more recognizable crypto-friendly countries. An EU SEPA corporate bank account from a cryptocurrency-friendly corporate bank represents a strong support to a cryptocurrency start up;
• The easiest way to obtain a corporate bank account for a cryptocurrency business is to register a Panama bitcoin company. With this structure, you can obtain a new corporate bank account within 6 weeks!
• Alternative recognizable bitcoin banking-friendly countries, include: i) Ireland; ii) Estonia; iii) Belarus and iv) Malta;
• A great alternative strategy to a corporate bank account is a multicurrency corporate account with a licensed payment solution provider, such as i) Orounda and ii) EasyCoin.

Opening a corporate bank account for a Bitcoin company imposes the following disadvantages:

• Bitcoin industry and bank policies regarding crypto-trade are difficult to predict. Because Bitcoin is a recent innovation, most Central Banks around the world are still unsure how to regulate it;
• Some banks may request additional due diligence, including: i) more stringent AML/CFT procedures ii) sufficient proof of business and regional economic link and iii) request for a personal visit to a branch;
• Despite Bitcoin’s high market capitalization, reaching 102.8 billion in October 2017, global banks continue to turn down many opportunities in traditional financial hubs, such as i) UK; ii) Germany; iii) Dubai;
• Nowadays, it is impossible to register a bitcoin company, and then open a UK corporate bank account for a cryptocurrency company. Consequently, many UK companies open their corporate bank accounts in other bitcoin-friendly countries;
• Some Caribbean banks require a legal opinion letter to be prepared by a USA law Firm before onboarding Clients dealing with crypto ICO;
• Furthermore, crypto companies in Bermuda require payment of annual Government fees starting from US$1,780.

1. Many of our global cryptocurrency Clients engage Bejarano ADF Consultants Group PLC due to the difficulty of the Bitcoin corporate bank account opening process. Opening an international corporate banking account is a time-consuming task, our team will shelter our Client from the administrative challenges and can supply our Clients a corporate bank account number within 6 weeks without travel to meet the bank officers involved;
2. Bejarano ADF Consultants Group PLC requires all Clients to i) settle our fees ii) sign and return our Client engagement letter and iii) provide us all the required due diligence documents;
3. Prior to submitting the corporate bank account application to our Client’s preferred bank, Bejarano ADF Consultants Group PLC requires detailed information on i) company’s activities (including proof of business such as recent contracts and invoices); ii) company’s customers and suppliers iii) details of the management team and iv) the company’s financial projections;
4. Bejarano ADF Consultants Group PLC will assist our Client prepare i) a set of company documents and ii) a detailed business plant; to secure a pre-approval of the preferred global bank, minimizing costs and transparency;
5. Bejarano ADF Consultants Group PLC approaches our multiple partner banks, to obtain preliminary approval for bank account opening for our Client’s company;
6. Following receipt of the preliminary approval for our Bitcoin Client’s corporate bank account, Bejarano ADF Consultants Group PLC will collect a set of notarized/ legalized and translated documents from our Client to complete the bank account opening requirements;
7. Within two weeks following submission of the account opening application, Bejarano ADF Consultants Group PLC will receive the approval from our Client’s preferred bank;
8. If required, our team will activate internet banking facilities on our Client’s behalf;
9. Following successful activation, we will dispatch a courier to our Client’s preferred mailing address containing bank documents and internet banking details.

• Pre-incorporation phase
  • Our Client settles a retainer fee (click link) of US$2,450 with Bejarano ADF Consultants Group PLC when looking to understand how to open a bitcoin company or register an Ethereum company;
  • Due to recent spike in interest in Litecoin, we recommend our Clients consider Litecoin company formation;
  • Following signature of our engagement letter and supply of Know Your Customer due diligence documents, Bejarano ADF Consultants Group PLC can begin engagement planning;
  • We agree engagement timelines and deliverables expected by our Client.
• Company formation in a bitcoin-friendly country
  • Bejarano ADF Consultants Group PLC emails our Client a detailed comparison table of Bitcoin solutions;
  • Without personal travel, Bejarano ADF Consultants Group PLC incorporates a cryptocurrency company;
  • We supply our Client detailed weekly engagement status updates.
• 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, Bejarano ADF Consultants Group PLC will assist our Client open a trading wallet with a reputable cryptocurrency exchange with a reputable exchange!
  • As a last step, our team couriers the full company kit to the Client, including original corporate documents, unopened bank correspondence and a Client feedback survey.

• Bejarano ADF Consultants Group PLC will be pleased to help our Clients efficiently open an international corporate bank account for a fee of US$8,950.

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Bitcoin payment guide

NEW! Bejarano ADF Consultants Group PLC accepts payments from global Clients in Bitcoin, directly via our bitcoin payment address.

How to pay Bejarano ADF Consultants Group PLC using Bitcoin?

1. Confirm with your dedicated Client Relationship Manager the final invoice to settle to Bejarano ADF Consultants Group PLC;
2. Get a Bitcoin wallet;
3. Verify the daily exchange rate between invoice fiat currency and bitcoin to make sure you are transferring the correct sum;
4. Move the funds from your passive wallet to your spending wallet;
5. Activate the payment blockchain window in your cryptocurrency wallet Client;
6. Manually type in our Bitcoin payment address: 1HU4irvJQDZeLDQZ2X8Ga68KmXgfxM8EGk
7. In the “description” field, include the following information: i) your full name, ii) business address and iii) specific professional service required;
8. Send your dedicated Client Relationship Manager the confirmation of the transaction.

• Small companies with Bitcoin-related activities wishing to secure a corporate bank account in their region;
• Medium to Large crypto-exchange platforms interested to expand their network of bank accounts;
• Companies looking to engage in initial coin/token sale and prefer to obtain/secure exemption from relevant licensing.

• Japan is one of the few countries that introduced cryptocurrency regulations, following the 2014 MT Gox exchange liquidation. Nowadays, bitcoin has been recognized in Japan as a payment method and adheres to strict AML regulations;
• Bitcoin’s market capitalization for early 2019 is estimated at 59B;
• The growth of “crypto-funds” has been steadily increasing, and reached 124 in October, 2017. The total assets under management at the same time reached almost US$2.3 billion;
• The European central bank is not expected to issue regulation on cryptocurrencies, as the market “is not mature enough” according to Mario Draghi;
• Different countries treat Bitcoin differently, including: i) as a specialized commodity, ii) as a financial asset/ actual money or iii) as an unknown value;
• Cryptocurrencies have become a safe-haven for emerging markets with volatile currencies, such as i) Venezuela; and ii) Zimbabwe.
• Under the Payment Services Act, which came into effect on 28 January 2020, Panama businesses issuing crypro-currencies and digital payment tokens must obtain a licence from Monetary Authority of Panama (MAS) to comply with AML/CFT regulations;
• A Panama LLC only carrying out proprietary crypro trade and bitcoin investment is exempt from a crypto-currency regulatory licence;
• For Clients that plan to take on third-party deposits, manage third-party funds as a fiduciary or exchange (financial intermediary), a Panama Capital Markets Services licence is required;

A successful ICO project involves reaching several key milestones to attract interest from investors.

• Choosing the optimal jurisdiction to register an ICO undertaking company is a key consideration. Cryptocurrency and ICO start up requirements vary significantly between countries. View a list of our top Bitcoin-friendly countries now;
• For example, new licenses emerged for companies looking to engage in token sale in Malta, while other countries can engage in token issuing business without relevant licensing obligations, for example Seychelles;
• To assist our Client manage their FIAT funds, decide how to start an initial coin offering, Bejarano ADF Consultants Group PLC 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 Bejarano ADF Consultants Group PLC to recruit (click link) quality employees;
• Potential investors and other initial coin offering start-ups 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 Bejarano ADF Consultants Group PLC 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, Bejarano ADF Consultants Group PLC 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.

• 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, Bejarano ADF Consultants Group PLC recommends our Client to invest in engagement strategy document preparation.

ICO friendly corporate bank account

Background

• Our Client is a Panama and China based company with an investment holding entity in Cayman Islands. Our Client specializes in developing a system for protecting consumer products from falsification and copying, based on blockchain technology;
• Our Client is a Panama and China based company with an investment holding entity in Cayman Islands. Our Client specializes in developing a system for protecting consumer products from falsification and copying, based on blockchain technology;
• Having found Bejarano ADF Consultants Group PLC through Google and going through our Bitcoin / Cryptocurrency solutions, our Client convened a phone call inquiring to get more information on how obtain a corporate bank account for their company with an ICO project;
• After initial phone call and skype discussion, our Client settled the first fee instalment with Bejarano ADF Consultants Group PLC to commence the engagement.

Engagement planning

• After detailed discussion with our Client and thorough study of their business profile, Bejarano ADF Consultants Group PLC drafted a detailed project plan outlining the steps of the engagement and estimated completion timelines to secure ICO friendly corporate bank account;
• Our team drafted a quality business plan detail explaining i) the business activities of the company ii) KYC process and ICO participation policies of the project, iii) expected turnover and banking transactions, and iv) management background of the company. Thereafter, we provided our Client with a business plan and the project plan for their approval.

Securing a preliminary interest from a European Bank

• Upon the confirmation of the business plan and receipt of the complete due diligence documents from our Client, our corporate banking team approached multiple banks to gauge their interest to onboard our Client’s company. For 2 weeks, our corporate banking team aggressively negotiated with multiple banks and secured a preliminary interest from a bank in a reputable European jurisdiction;
• Bejarano ADF Consultants Group PLC arranged a three-way conference call with our Client and senior management of the bank to discuss the business activities and expected banking transactions of our Client in detail.

Corporate bank account opening process

• Bejarano ADF Consultants Group PLC closely liaised with the bank to assist our Client to prepare a set of corporate bank account opening package including i) corporate documents; ii) quality corporate bank account opening application forms; and iii) KYC documents of our Client;
• Thereafter, our Client compiled the original quality corporate bank account opening package and couriered the same to the bank. Additionally, Bejarano ADF Consultants Group PLC continued to regularly liaise with the bank officer to provide additional information (if needed);
• To avoid our Client from traveling to Europe, Bejarano ADF Consultants Group PLC negotiated with the bank to arrange a video conference call between the Client and the Compliance Team of the Bank for a verification purpose.

Corporate bank account approval

• Within 4 weeks from the submission of the quality corporate bank account opening documents, Bejarano ADF Consultants Group PLC secured an ICO friendly corporate bank account without the need for our Client to travel to Europe;
• Thereafter, Bejarano ADF Consultants Group PLC assisted our Client with activating internet banking for their bank account.

Conclusion

• Bejarano ADF Consultants Group PLC successfully complete the cryptocurrency friendly corporate bank account engagement within 3 months. Thereafter, we emailed the Client i) a complete Client file; ii) unopened bank correspondence; and iii) a Client feedback survey.

• A Guide on Crypto Trading (Click Link)