Ask HN: If you had to setup an offshore corporation in a few days | Hacker News Reader

Ask HN: If you had to setup an offshore corporation in a few days

1 pointflyGuyOnTheSly8 comments

Where would you do it?

And who would you choose to do so through?

I have been working on a BitMex trading bot for over a year straight now and was just about to put rubber to road in a few days here...

I just noticed last night that the Ontario Securities Commission has contacted BitMex and as of Sept 1st no new trades will be allowed on BitMex by residents of Ontario.

That is a problem for me as I am a resident of Ontario.

So my question is pretty simple... where would you register a corporation for these purposes?

I don't need banking or anything other than a corporate identity I don't think, as all of the transactions will be done through the blockchain.

I just need some papers essentially that declare me the sole chairman of a corporation outside on Ontario somewhere in a jurisdiction that does not prevent it's residents or companies from engaging with trading on BitMex.

To any doubters out there... Yes, the bot is profitable and it makes financial sense for me to take this plunge.

Thank you for reading.

I cannot stress this enough: talk to a lawyer.

Do not ask HN how to structure an organization to evade local regulations.

I am not evading any local regulations, BitMex is.

The Ontario Securities Commission trying to keep Ontario residents safe by not allowing them to trade on exchanges that have not been regulated by them.

I was already in violation of the OSCs wishes prior to BitMex banning the use of my account from inside of Ontario.

uk, £15, couple of hours. done.

Do you have a link to more information? Can I do that from within Ontario for 15 pounds or do I need to by phyiscally located there?

I was just looking at the estonian e-residency program and it's 290 euros to get a business setup in that country.

Trouble with the Estonian e-Residency is that you've either got to visit an Estonian Consulate or go to Estonia itself, to complete the process. I suppose how much of a hassle that is depends on whether or not you have an Estonian Consulate near you.

There is definitely an estonian consulate near me, but given the cost and the time required (6-8 weeks for a background check) I have decided against it.

I should have my UK private limited company setup within a few days time and for less than 50 quid.

Assuming the previous poster was referring to setting up a UK LTD company, you'd need a UK address [0]. If you can get an accommodation address in UK, the process is pretty straightforward; fill in an online form and pay your £12. They'll even accept PayPal! [1]

[0] https://www.gov.uk/limited-company-formation/company-address...

[1] https://www.gov.uk/limited-company-formation/register-your-c...

I've purchased an address from registeredaddress.co.uk and should have it by Tuesday, fingers crossed!

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