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Title: Best Legal & Tax-Efficient structure for ICO's? Post by: win z on November 23, 2017, 10:49:56 AM For those who have already successfully done an ICO: What was the legal/tax-efficient structure, you were recommended by your lawyers and tax-advisors? Would love to gather best practices and procedures other ICO's have followed, so that we can help the broader community adopt the same.
Few examples I've come across are: 1. Swiss Foundation + Delaware C-Corp 2. Cayman Islands Holding Corp + Delaware C-Corp 3. Mauritius Foundation + Cayman Islands Holding corp + Delaware C-Corp 4. Gibraltar Holding Corp + Delaware C-Corp 5. BVI Holding Corp + Delaware C-Corp What structure did you follow? How much did it cost? What were the timelines & challenges you faced each step of the way? Title: Re: Best Legal & Tax-Efficient structure for ICO's? Post by: davis196 on November 25, 2017, 06:40:28 AM I don`t think that any ICO developer/owner will answer your question here.Perhaps most of the ICO owners want to keep this info private,or they don`t use offshore based companies.I`m not sure wether or not most of the ICO owners pay taxes at all.ICOs aren`t legalized in most countries, so the ICO capital has to be converted into fiat money,in order to be taxated.
Title: Re: Best Legal & Tax-Efficient structure for ICO's? Post by: Samarkand on November 25, 2017, 10:57:40 AM For those who have already successfully done an ICO: What was the legal/tax-efficient structure, you were recommended by your lawyers and tax-advisors? Would love to gather best practices and procedures other ICO's have followed, so that we can help the broader community adopt the same. Few examples I've come across are: 1. Swiss Foundation + Delaware C-Corp 2. Cayman Islands Holding Corp + Delaware C-Corp 3. Mauritius Foundation + Cayman Islands Holding corp + Delaware C-Corp 4. Gibraltar Holding Corp + Delaware C-Corp 5. BVI Holding Corp + Delaware C-Corp What structure did you follow? How much did it cost? What were the timelines & challenges you faced each step of the way? Even if you use one of these corporate structures in order to minimize taxes, you can still run into additional problems. Just take a look at the recent legal battle surrounding the successful (in terms of money raised) Tezos ICO: http://www.ibtimes.com/legal-battle-derails-tezos-232-million-cryptocurrency-project-2603711 Besides, I´m wondering why you are using a Delaware C-Corp in all your examples. Are you based in the US? Otherwise, there are probably more favorable locations to set up your ICO. E.g. some of the Asian countries seem to be a good choice (Hong Kong, South Korea) in addition to the locations that you mentioned as favorable for the creation of a Foundation or a Holding Corp.. Title: Re: Best Legal & Tax-Efficient structure for ICO's? Post by: MoonJeina on November 25, 2017, 01:34:50 PM For those who have already successfully done an ICO: What was the legal/tax-efficient structure, you were recommended by your lawyers and tax-advisors? Would love to gather best practices and procedures other ICO's have followed, so that we can help the broader community adopt the same. Few examples I've come across are: 1. Swiss Foundation + Delaware C-Corp 2. Cayman Islands Holding Corp + Delaware C-Corp 3. Mauritius Foundation + Cayman Islands Holding corp + Delaware C-Corp 4. Gibraltar Holding Corp + Delaware C-Corp 5. BVI Holding Corp + Delaware C-Corp What structure did you follow? How much did it cost? What were the timelines & challenges you faced each step of the way? No one is going to answer this question honestly here . There are rivalries all over the place . I haven't done an ICO before but i still have the courtesy to explain a few things here . Firstly , Not all the ICOs pay taxes , Why ? Simple , because their government don't know what ICO is so taking a permission for it is wasting their own resources and time . If your country legalizes the ICOs ( which infact is not easy) the best way to get a tax-efficient structure will be paying some benefit to the government in case you succeed in your ICO. Be sure that you don't set up your ICO in some ICO resistant area ( line USA , China) . |