Countinghouse Fund: Seychelles is good for Business
Governments are kind of unsure how to react to cryptocurrencies. Governments are confused on whether or not they want to side with or against crypto. If a company is holding an ICO it is important that they picked their office locations carefully. Countinghoue is an Australian fund and they have been serving many people with fiat trading for years. The laws for fiat trading are fixed and Countinghouse was able to base itself in Australia without facing in problems. Crypto trading involves laws that are a bit more tricky so the fund is making an arm overseas.
Countinghouse is about to make crypto trading hedge fund. This fund would be greatly involved with high amounts of crypto trades. Political uncertainty is a big problem for a fund like this. In order to avoid ever changing regulations on crypto-currency, Countinghouse has established its crypto-currency exchange arm in Seychelles, which will ensure easy transfer of funds from and to crypto-exchanges and fiat banking institutions without encountering unnecessary delays. However, Countinghouse is committed to follow strict KYC practices in order to ensure the legitimacy of the investment. Countinghouse Fund’s KYC process is simple so investors don’t have to worry about it.
Seychelles also has great tax laws so whatever money the fund keeps for itself to reinvest in activities won’t be taxed much. It is common for blockchain companies to make offices in countries that have great tax laws so makes sense for a hedge fund joining crypto to do the same. The fund’s activities will still take place in the Australia offices. The company arm in Seychelles is just to give a strategic advantage. Countinghouse will be able to go about their trades knowing exactly what the laws and how they likely will be in the future. Seychelles has very lenient policies on flow of foreign exchange. Countinghouse would be trading crypto on a lot of pairs so many of the pairs could even involve direct crypt-fiat pairing. To do this activity without a problem, Seychelles is a great place.
Company
Website: http://countinghousefund.com/ico
Whitepaper: https://www.countinghousefund.com/whitepaper
Bitcointalk Thread: https://bitcointalk.org/index.php?topic=3406903
Facebook: https://www.facebook.com/Countinghouse-289073354768908/
Telegram: http://t.me/Countinghouse
Twitter: https://twitter.com/CountinghouseFd
Proof of Work for https://bitcointalk.org/index.php?action=profile;u=1887821
I never really thought about the importance of where the backing company is. This is the first I've seen one in Seychelles. Thanks for pointing this out.
A lot of companies make crypto bases in Eastern Europe and I think Malta will be the next big thing. CountingHouse looked at Seychelles because of the very lenient tax and foreign currency flow laws it has. These have a particular benefit for a currency trading fund.