Which bank to choose? - genesisdotre/IslandDAO.github.io GitHub Wiki
Able to provide mortgage
There are a lot of questions and some magic involved.
To buy an island for $1m and to have multiple 4️⃣4️⃣4️⃣4️⃣4️⃣ operating companies (see legal structure) waiting with the clients.
It should be possible to obtain a mortgage to develop real-estate.
The rationale is simple:
- land
- business plan, clients
- but no buildings
- land can be collateral, the business plan and clients can be the guarantee that it has some merit
Anyone can present a business plan that is total 💩💩💩. It's a different story when you have plenty of clients who pre-paid for the service. That's why one of the questions to the Estonian regulator was:
Can someone buy $1k worth of services that will be delivered in the future?
Transferwise?
- https://twitter.com/islanddao/status/1248526075518496768
- https://transferwise.com/gb/blog/opening-a-bank-account-in-estonia
Revolut?
Escrow
I would like to ask if you offer escrow services?
I am raising money for a project and I would like to ensure the investors are protected at all times.
On the technical level, the traditional banking system does not have exit scam fraud prevention mechanism and "in theory" I could run away after receiving money.
Being aware of these limitation - your firm has a reputation and is more trustworthy than a "random guy on the internet" like me :)
Alternatively, maybe you have another recommendations how to resolve the situation above?
Ideally (crypto wet dream)
- Multisig protection trustless control
- Transparency, open by default, simplified accounting