Australia: Opening a Bank Account for Buying & Selling BTC

Just a few years ago, the word Bitcoin was not known. And now even children know about these digital coins. In fact, there is some limited amount of Bitcoins, that can be obtained, using computers, and the process of their extraction is called mining.

If you decide to start a business with Bitcoins in 2021, pay attention, that it is very popular. More and more companies work with cryptocurrency exchanges and offer their services. But in most countries, the legislation has not even begun to adapt to work with Bitcoins. That is why the legalization of such a plan of business is very difficult.

Since the laws of Australia are adapted to almost the only activity with Bitcoins, the service of opening an account with an Australian bank for the legitimate provision of services for the purchase, exchange, sale of Bitcoins becomes more popular.

Before opening an account with an Australian bank, you need to:

• register a company in Australia;

• establish a company in Belize, Seychelles or Nevis.

If you want to register a company in Australia, it will be useful for you to know that you can set up a company to work with Bitcoin, as well as for any other business.

If you are interested in registering a tax-free company, we will advise you to open an account with an Australian bank, if the company is established in Belize, Seychelles or Nevis. Companies in these jurisdictions are opening up fast enough. More information can be found on our website or with representatives of our company.

In order to open an account in Australia, you need to know:

• You can open an account for working with Bitcoin in Australia in 4 banks: Commonwealth Bank, NAB, Westpac or ANZ Bank.
• To open an account you need 2-3 weeks.
• When depositing money into account, all payments must be made in real currencies.
• There is an option to open an account in Australia remotely and also with the personal presence of the beneficiary.