Recent content by RickSanchez

So you are saying, the bank would not ask where this money transfer came from? And if you say from a Gold sale, then they won't ask where you had the money from to buy all the Gold or if you say it's from Greatgreat Grandpa (in case you can melt it) they won't want to see supporting documents of...

Ok, lets say you buy Gold with Crypto and then sell it via a Singapore Bullion Service or local buyer/seller to your bank account. Still, won't the bank (and the tax office) start making trouble and ask for source of funds? How could you afford buying and selling so much Gold?

First of all, thanks to all three user for your replies. @Asmodeus Yes, I'm under the 500k. Just to get it right: Your tip is to get a regular bank loan, sell crypto for cash and pay the monthly bank loan back in cash? The bank and tax office will freak out if there is so much cash paid in...

Dear Community, maybe someone here has experience with this. I've just read the thread of the user @mariodraghi (Can't cash out my crypto and live my life...). He would like to cash out his Crypto but has no Source of funds of any kind. I'm having a similar problem with one difference: I...

Thanks for your answers. On page 31, Point 4 ( Standard for Automatic Exchange of Financial Account Information in Tax Matters | READ online ) its written '..account balance...as of the end of the relevant calendar year or other appropriate reporting period...' whatever that means. They would...

Does someone know, how CRS reports between Banks and residential tax offices look like in detail? Is the reported calendar year 1.1. - 31.12.? Will the reported amount simply the balance on 31.12. or will the highest balance or a median of the calendar year be send to the tax office of...

It works like an IBC. Company tax rate is 0% as long you don't have domestic sourced income in Canada. You can either run it as a 'one-man' company with you being General and Limited Partner at the same time or use one of your already existing companies as a business partner. If you don't have...

I'm trying to understand how CRS works in detail... From how I understood every bank, fintech bank and services like paypal send my information at the end of every year (or quarterly?) to the tax authority of the city that is stated on the utility bill/adress they've got from me. For CRS only...

Thanks for all your answers! That was helpful. I'll be deciding between a Belize IBC and an 'one-man' Limited Partnership in Ontario for non-residents (which pretty much works like an IBC without anonymity but with the benefit that my invoices would be deductible for clients in Western Countries).

So far I'm most interested in a Belize IBC, but I'm open to potential better solutions.

Ah ok, it depends on the agent, didn't knew that. Can someone recommend an agent that only asks once in the beginning, not yearly?

Thanks for all your answers. Regarding choosing a more reputable jurisdiction like Cyprus or Estonia: Would'nt I have the same problems with being asked to show utility bills every year? What I'm trying to find out is, if there is any kind of jurisdiction out there that would'nt ask me for...

I am planning to run a business as a non-tax-resident (this is how if someone is interested: Life & business as a non-resident - a concept ) As I will not be tax resident of any country and have no home rented with utility bills, I am looking for a corporation that is the least demanding when...

Hey guys, I really appreciate that a helpful and honest forum like this one exists. I've been reading through several threads the last couple days and decided to share an idea how managing business (and the utility bill situation) could work as a non-resident. First of all with non-resident I...