Incorporation

$5,750.00

Create a company in Bitcoin City

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Description

The tax benefits of Bitcoin City, El Salvador

 

This service includes:

The creation of a Salvadoran Limited Liability Corporation known as a Sociedad Anónima de Capital Variable (S.A. de C.V.). This company can be used to engage in any lawful activity. It doesn’t have to be a bitcoin-centered business, although it certainly can be. Holding companies for digital (or other) assets are allowed.

  • Issuance of template Constitution, aka Articles of Incorporation / Bylaws (customization available).
  • Registration with the appropriate Salvadoran authorities.
  • The establishment of legal representation by a Salvadoran attorney (as required by law).
  • The establishment of a fiscal and legal address (inquire for more information).
  • The elaboration of your financial statement by a Certified Public Accountant and secondary Independent Auditor (as required by law).
  • Ongoing support by a Certified Public Accountant for the purposes of compliance, annual registration, and monthly and yearly tax reporting is available for USD2,000 per year (exclusions apply).
  • Customized Corporate Kit including minute book, share issuance log, El Salvador share certificates, constitution, registration documents, receipts, other legal forms, etc. Also includes a corporate seal. The Kit and copies of all Salvadoran documents can be mailed to you internationally or reserved at our offices for your arrival, at no charge.
  • Shared services of our Compliance Officer (as required by law)
  • The initial required certified check in the amount of USD500* (this money goes into the operating account, which you control).
  • The minimum ‘share capital’ of USD2,000* (this money is the starting capital of the company, and will be deposited into the operating account for a total balance of USD2,500 which you control). The share capital may be Bitcoin, but please be aware that the interpretation of the share capital may mean the UTXO and not the prevailing exchange rate in dollars, ergo you may be required to maintain the UTXO regardless of market valuation of the amount of Bitcoin it encumbers. Clarity on this rule is expected with the update to the digital assets law, and we will reflect our new understanding here, at that time.
  • This service is only available for purchase in your country of origin.

*These amounts are subject to change without notice due to bank and government policy which are highly responsive to inflationary pressure in the broader economy.

**If you open a dollar-denominated bank account, that account may not be used for international wire transfers during an initial six month ‘seasoning period’. You are able to write and deposit checks and money orders and use a linked debit card. You may also partner with an existing business with an aged account to process international payments during your seasoning period, but that is not a service we broker. Please note this is a bank policy, not a government policy.

All fees required to be paid for the incorporation and registration are covered. This service is completely inclusive of all expenses.

Issuance of equity on the Liquid Network available. Issuing equity is a complex legal procedure, and you are encouraged to seek outside legal counsel in your jurisdiction of origin before attempting a private placement or public offering. For an example, see SideSwap.

Complete corporate inversions are available (inquire for more information).

Your company will be viewable in the system hosted here upon formation.

FAQ’s

Is foreign ownership allowed?– Yes, up to 100% foreign ownership is allowed.

Can the company sponsor foreign employees?Yes, but at least 90% of the employees must be locals. We can assist with compliance regarding this aspect of the law. Inquire for details.

Are there capital controls?– No.

Is there a minimum share capital?– Yes, USD2,000.

What is the minimum number of shareholders?– There must be at least two shareholders.

Is a fiscal address and legal representation required?Yes.

Available additional services:

Integrated website and payment processing (Bitcoin-only)

Registered Agents

Dedicated Business Attorneys

Dedicated Accountants

Staffing & Payroll Services

Market Analysis and Planning

Real Estate Packages in Bitcoin City

Joint Ventures with a shared-services model available

And much more