I Need Cheap Dubai Company, must protect money!

Nigital Domad said:

I have a client in similar situation but he has 3M EUR. Any general advise (beyond what already offered here?) I was thinking to advice private banking angles or similar?

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Liechtenstein is not a signatory of the Lugano agreement, so that might be an option at that amount. Their banks are stupid expensive, and that's basically the only reason to bank there at this point. Have him run it through some EMI before transferring to the end bank account - anyone that may gain access to his banking records probably won't be able to get anything outside of their own country without alot of difficulty.

cameleon said:

I own money and paid tax at home for it ?

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Then get the paper out of the ATM or buy gold, crypto or something. If you don't have a plan to make it tenfold, a company probably won't be worth it due to running costs.

John M said:

And… how is he going to open a bank account for it?!

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options available inside mentor group gold, you may read a little around there to find the clue!

cryptofriendly said:

It's much easier than you think. Nowadays, I store my 24 word recovery key phrase in clear text on a piece of paper in three different locations, some of them pretty insecure, open to see for anyone that wants to take a look.

Sounds idiotic, right?

Well, not really. Losing the full recovery phrase is of much bigger risk for me, and I can't even memorize my phone number (my shirts have a longer lifespan than my SIM cards), and 24 random words in the right order are pretty much impossible to keep in mind for the long run (for me at least).

There is a very elegant option that makes all the worries go away, takes all risks away regarding storing the 24 words without other people having access to it, and you just need to remember ONE word/phrase/combination chosen by yourself. It also fixes the problem someone holding a gun to your head.

https://www.ledger.com/academy/passphrase-an-advanced-security-feature

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very good and interesting, didn't read about it before.

cryptofriendly said:

It's much easier than you think. Nowadays, I store my 24 word recovery key phrase in clear text on a piece of paper in three different locations, some of them pretty insecure, open to see for anyone that wants to take a look.

Sounds idiotic, right?

Well, not really. Losing the full recovery phrase is of much bigger risk for me, and I can't even memorize my phone number (my shirts have a longer lifespan than my SIM cards), and 24 random words in the right order are pretty much impossible to keep in mind for the long run (for me at least).

There is a very elegant option that makes all the worries go away, takes all risks away regarding storing the 24 words without other people having access to it, and you just need to remember ONE word/phrase/combination chosen by yourself. It also fixes the problem someone holding a gun to your head.

https://www.ledger.com/academy/passphrase-an-advanced-security-feature

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@cryptofriendly the additional word basically works like a salt in a hash function? Can you use 1, 2, 3, etc. and then get unlimited additional keys?

daniels27 said:

@cryptofriendly the additional word basically works like a salt in a hash function? Can you use 1, 2, 3, etc. and then get unlimited additional keys?

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Yes. it basically adds an extra layer of security and creates a different set of accounts. You could use 1, 2, 3 (up to 100 characters if I remember correctly, so maybe 'oneSPECIALadditionalWord2addAnAdditionalLayerOfSECURITY' would be better and still easy to remember.

But yeah, you could use multiple extra words to diversify and create a plethora of extra wallet accounts. So, even with a gun to your head, you could reveal the 24 word wallet addresses, and if it's not enough and they start cutting off your toes, you could sacrifice one of your 25th words and the wallets behind to make the trouble go away (I think that no one really expects you to have more than one secret phrase, I'd recommend keeping some crypto on the original 24 word wallets though, so it looks like real - and maybe having one 'secret phrase' to give away as well, just in case. But that's just my paranoia.)