Receive all Cointelegraph news immediately in Telegram.
With Gibraltar’s huge success in the gaming industry, it now plans to do well in the cryptocurrency field.
With Gibraltar already becoming a huge success in the gaming industry, it now plans to do well in the cryptocurrency field.
Aaron Payas, partner at Hassans International, bets on Gibraltar as a place where you can domicile your cryptocurrency or business funds.
Recently the government of Gibraltar has published DLT Framework proposals with Gibraltar Financial Services Commission. In his tweet, Payas mentions Gibraltar as an excellent place for ICOs and investing in cryptocurrency businesses.
According to Payas, DLT and CC entrepreneurs have been looking for a reputable jurisdiction where they can base their HQ and be regulated, so the proposals have already been greeted with positive feedback.
“This regulation provides such entrepreneurs with the “seal of approval” which is so important when marketing their product to potential clients or pitching to investors. The Proposals are also drafted to allow maximum flexibility to the Gibraltar Financial Services Commission in the way they wish to regulate each licensee.”
According to Payas, a Gibraltar-based fund is a great option for US investors because the tax is neutral. Also, there are currently no other fees except the costs that help maintain the fund.
With the fund, US investors will have ownership of Bitcoins along with other investors in the fund.
With regards to taxation of cryptocurrencies, Gibraltar is an interesting option for cryptocurrency businesses as the country aims to become one of the most progressive countries in EU and Gibraltar companies are only taxed based on the profits that they earn plus the corporate tax rate for net profits is only 10 percent.
Follow us on Facebook
For updates and exclusive offers, enter your e-mail below.
One fine body…
Thank you for contacting us! We will reply to you as soon as possible.
Thank you for your interest in our franchise program.
We are considering your request and will contact you in due course. If you have any further queries, please contact:
Reset letter sent.
Please checkout your mailbox for password reset details