Recent content by Siggi

What do you say about crypto to crpyot trading being tax free in Cyprus?

I am refering to 15% because thats what roughly what you end up paying by running a cyprus ltd. Your assumption was that you will be in a bad situation if Cyprus introduces a crypto law that states crypto to crypto is taxable. But why are you assuming they introduce a crypto law and keep the it...

1. Yes and at that point you can establish the Cyprus Ltd and make the capital injection with your cryptos 2. There are indeed rulings that were made by individuals with exatly this outcome. Are you not submitting ruling requests yourself? 3. You dont need to take it under the company as long...

Yeah right. I guess lawyers and accountants tend to make things look more complicated than they actually are. If crypto to crypto is not being taxed thats 99% of the problems solved. The remaining 1% you mentioned is not where the pain of crypto traders is and can be solved once its time to...

Yes if you trade those crypto inside a company accounting rules apply. But on a individual level its not needed as you dont file a tax report for it. You either wait for Cyprus to release the new law for crypto regulation or transfer the crypto to a LTD with a capital injection if you want to...

Did you find a solution in the meantime or how are you declaring your crypto profits in Cyprus?

Can you please tell us how the 0% tax scenario in Cyprus looks like?

At the moment CFC rules in Cyprus only apply for companies and not individuals. Thats why most of the tax residents in Cyprus use offshore companies to lower the 12.5% corporate tax. I agree that Cyprus is a lawyers mess. The benefit of Cyprus in regards to Crypto trading would be trading tax...

Would the following work? Grow the cryptoportfolio to 7-8 figures by trading crypto on private level. Then establish a Cyprus Ltd and transfer all crypto to the company by capital contribution and then cash out to fiat? Thats not gonna work right?

Hi, are you sure that swapping crypto profits to stablecoins is not a taxable event in Cyprus? Do you have any source for this information? @CyprusLaw can you also confirm?

Thats about PE that are connected to Cyprus companies. So if your cyprus LTD has a daughter company in Hong Kong. But it doesnt apply to an offshore company where you are the UBO.

Where do you have the 6.25% rule from? The offshore company doesnt pay any tax in Cyprus as long as its not controlled from Cyprus. It doesnt matter where the shareholder is located!

This is easy to overcome by hiring a Director which is not a resident in Cyprus. Is this correct or am I missing something here?

Did you receive any answers on your question?

I do 100% agree. Ethically speaking Id just expect someone to make these potential consequences very clear when explaining such possibilities to total newbies.