Things a Smart Bitcoin Consultant in India Would Do!
Establishing financial independence is one of the most crucial objectives that people strive to attain. Today, having a computer, an internet connection, and a bank account is all it takes for someone to become a millionaire. Since the majority of business transactions take place online. In 2009, Bitcoin was officially released, since its introduction, investors have completely changed their trading strategies. People have been investing heavily in cryptocurrencies and rightly so. Despite the value of cryptocurrencies being highly volatile, investing in cryptocurrencies can be quite rewarding. In India, many people are actively investing in Bitcoin. As a result, there has been a tremendous rise in the number of Cryptocurrency Consultants in India. However, due to unlawful transactions, lack of talent, and people who use cryptocurrency as a means of evading taxes, are few of the many reasons that have troubled the blockchain Industry in India.
A few weeks ago, media reports also suggested that being involved in any Cryptocurrency transactions such as Bitcoins, Altcoins and Ether can lead to prison. Due to the immense complications surrounding the cryptocurrency industry, people prefer establishing their Blockchain firms outside of India. Any learned cryptocurrency consultant would prefer establishing a Blockchain firm in Estonia. In July, the Reserve Bank of India, released a statement, prohibiting the country’s bank from providing its services to business organizations that are involved in processing digital assets such as Bitcoin. Since then, the Blockchain industry has suffered severe consequences, and cryptocurrency in India has seen a downfall.
Interestingly, the Indian venture capital investments in the Blockchain industry add up to 5 million dollars, as compared to the global Blockchain deals that only add up to 2 million dollars. Given the large numbers of people involved in the cryptocurrency in India, it is important to keep the transactions active. Therefore, Cryptocurrency consultants are rapidly starting their firms in Estonia.
The legal framework of Estonia is perfect for people running Blockchain firms. In Estonia, the cost of starting a business is extremely low. One only requires 22000 euros, to register a company with a Blockchain license in Estonia. The price includes company registration, AML (anti-money laundry) internal processes, office in Tallinn, AML/local director recruitment. The registration cost is very low if compared to some of the other popular sovereignties such as Switzerland and Singapore. Estonia crypto license fulfills the criteria of Visa/Mastercard to process debit cards and credit card payments.
Estonia is an Entrepreneur friendly country and is considered as one of the most digitally advanced places in the world. Any person who hopes to establish a business in Estonia can obtain an e-residency and get access to all electronic services provided by the government of Estonia. E-residency allows entrepreneurs to establish a firm online and work remotely.
The regulatory authorities in Estonia are also extremely friendly and offer their assistance and cooperate with entrepreneurs whenever possible. This favors the owners of Blockchain consultants immensely has they need to communicate with the regulators on a frequent basis.
If planned carefully, people troubled by the situation of Bitcoin India can find a fitting solution to their problems by establishing a firm in Estonia. They can monitor and manage their firms remotely and enjoy the fruits of trading in the Booming Bitcoin Industry. Estonia is also well-known by its 0% corporate tax.