Blog

Where to Incorporate crypto Business?

Crypto give you freedom to travel and work, work from where you want. That’s the luxury life, indeed. So where to live as a crypto trader, miner, exchanger or whatever business related to crypto do you have. Where to incorporate crypto  business and what are the countries that won’t make problems about bitcoin. Some countries are strict enough about crypto sectors, like China and some or more easy going, like El-Salvador, but this is not only thing that you need to be looking for while incorporating your next business. There are list of important aspects to consider before you move to the country for starting a bitcoin business.

Checklist for the Best Country for Crypto Business

These are things that you need to be looking fir when evaluating the country in terms of attractiveness in terms of doing crypto Business:

• Overall safety and security in the country – amongst the bottom human need is to feel secured and safe in the country. We  need to avoid unnecessary complications. Check global safety and security rankings, something like Global Peace Index or expat community. 
• Country might be safe, so are some African countries where the quality of life is not as we are used to. Make sure quality of life meets your standards. Check the infrastructure and development of the country. 
• Okay, now if we found safe and relatively developed country, cost of living is interesting. How much you are going to spend to cover your living expenses?  Check cost of living Index, this is especially relevant for miners, who are looking for lower utility costs.
• Another internal factor is easiness of doing Business, how easy it is to do business in that country? How business friendly the legislation is and most importantly the tax rates, how does the tax rate look like? You can check global doing business report annually published by World Bank.

Georgia – The Best country to do Crypto Business?

Now as I mentioned the top criteria to consider before incorporating the bitcoin Business, let’s look at Crypto Business Incorporation Perspective in Georgia, since I am based here. Let’s take a look at global publications and draw the  objective outlook here, aiming to answer question: Is Georgia amongst the Best Countries to Incorporate the crypto Business?

• GPI – Global Peace Index Evaluation –  89/163 . Well that’s not the best score the country could get definitely, but living here, as a local, being born here, I can tell you that it’s pretty safe to be here. 
• Quality of Infrastructure in Georgia is ranked 67.6/100. 
• Easiness of Doing Business and Overall Taxation System – 6th Easiest country to do Business in the World.
• Cost of Living – Amongst  139 countries listed Georgia is 130th Cheapest country to live in. 

The bottom line is that, Georgia is still a developing country. Some major improvements in terms of infrastructure has been made and still needs to be made. The culture is western. The country had made its efforts to westernise.  It managed to attract investors due to super simple taxation procedure, lack of bureaucracy and the cost of living, price that are pretty law.