Bitcoin Forum

This is my first post on bitcointalk and I’m sure this has been discussed in some thread previously though I couldn’t find it, so I’ll say sorry in advance. However it’s a pretty important and central topic so I think it deserves all the attention it can get.

I’m in the process of planning the start up of a company that will use bitcoin technology to let people easily pay for and download certain kinds of digital content. While I might start up the company and conduct development of software etc here in my country of residence, Sweden, I’m not sure it is optimal to actually run the money making part from a company based here. The question is where to base the company that will actually be earning and selling bitcoins and where the servers required to run the system will be based.

Which leads to my question. In what country would it be optimal to actually run that part of the business from.

Luxenbourg looks quite promising though there seems to be lacking information on VAT and capital gains. http://bitlegal.io/nation/LU.php

Gibraltar also looks interesting with no VAT or capital gains tax.
http://en.wikipedia.org/wiki/Taxation_in_Gibraltar

And then there is a whole range of other like Jersey and Isle of Man, it’s quite a jungle of choices.

What are your thoughts on this? Which country in the world is likely to attract bitcoin companies based on their regulatory environment? Which are the best ones and what are the pros and cons?

Isle of Man

While I appreciate you being the first to reply it would have been nice with some arguments for your position.

The UK looks very promising and given Isle of mans status as a dependency of the UK and as an even more lax version of the former and that seems willing to be drawing in bitcoin business I would agree it makes a very good candidate.

http://bitlegal.net/nation/GB.php
Though its all "under current indicators":
No money transmission rules
No KYC rules
No AML rules
No VAT for commerce

Also specifically about Isle of man.
http://en.wikipedia.org/wiki/Economy_of_the_Isle_of_Man
0% capitals gains
0% corporate tax

But we getting conflicting reports from them. One moment they supporting them and the next moment they saying the opposite. ???

Canada seems to embrace bitcoin and they also seem to have the biggest install base of ATM's.

Are you planning on investing?

Germany, Scandinavia, even the US has got more right than wrong so far

i think they are a pretty good place to live and use bitcoin.

I am not sure about the regulation part but they are good for the taxation of bitcoin as they do not change for capital gains.

Scandinavia and Northern Europe/UK I would have thought

I agree. They even have citizenship to their country for sale (you only need to buy $40k worth of property there)