Selection of the jurisdiction of the issuing company and the bank, within which it is better to conduct an ICO

ICO is a process of raising funds for the further development of a product. Many exchanges require AML and KYC, so it will not be possible to make a large turnover from a personal account. A company with an ICO partially solves this problem and saves you from a headache.

Launching an ICO project? Our company will choose jurisdiction for you so that the costs are minimal! Choosing a jurisdiction for an ICO always starts with a comprehensive analysis.

Jurisdictions for ICO: how is the choice made?

Our experts will pay attention to many factors when choosing the best jurisdiction for an ICO:

• costs;
• fiscal policy of the state;
• ease of doing business. 

Based on these data, a detailed expert opinion is given orally or in writing regarding the choice of the project's jurisdiction for entering the ICO.

ICO jurisdiction: which one should be preferred, and what popular destinations exist?

It is important not to make mistakes, take into account the nuances of your particular project and carefully calculate the budget.

Popular countries-jurisdictions for holding ico:

• Luxembourg;
• Estonia;
• Malta;
• Singapore;
• USA;
• Switzerland;
• Cayman islands;
• Australia;
• Hong Kong;
• Czech Republic.

Not only the jurisdiction of the ICO matters, but also the bank. Its reputation, reliability, fame.

Not every bank can open an account in cryptocurrencies, both due to the lack of a regulatory framework and internal restrictions.

Contact our lawyers for legal support. They are ready to assist in opening a company for the initial placement of tokens. 

What is the difficulty of choosing a bank for an ICO?

If the internal policy of a financial institution changes, the account may even be blocked. And then without the help of lawyers is definitely not enough. So why pay twice?

Progress does not stand still. The list of banks that work with ICO companies is constantly expanding. Therefore, do not despair. You need to look for a reliable financial institution that is willing to open an account for such a company. The younger the bank, the more loyal its internal policy regarding cryptocurrencies.

We have contacts of banks with which there will be no problems. Especially a lot of them in Switzerland. We recommend first of all to consider this particular jurisdiction, but it is far from the only one. 

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Banks of such countries willingly work with cryptocurrencies:

• Mauritius;
• Georgia;
• Serbia. 

By creating an account with these banks, you have the opportunity to transfer the funds collected during the ICO process.

What problems when opening a bank account accompany ICO projects?

When the choice of ico jurisdiction is completed, you can open a bank account. And here you will also need our help in preparing the necessary documents. When it comes to cryptocurrencies, banks are categorical. It was proposed to introduce an unprecedented risk factor for operations with it as high as 1250%. 

All because while bankers have long-standing, conservative banks, there is no understanding of the nature of such operations. And only the leadership of new, recently opened financial institutions is gradually becoming interested in cryptocurrency and blockchain.

There is another reason why banks refuse to open an account if they see that transactions will be carried out in cryptocurrency. So far, the impact of cryptocurrencies on the global economy has been little studied. The governments of many countries do not yet understand it, so they prevent such operations. Everything new causes a very predictable alertness. But this is not a reason to abandon the ICO project!

If you have a license from a prestigious jurisdiction, you are unlikely to be refused. But get ready that the rates will be somewhat higher than for other corporate clients.

Contact Blocons and get advice on all questions regarding the jurisdiction for the ICO.