A good cash-out setup for a trader.

[crystalclear]

Hi,

Could you please advise a newb when it comes to cashing-out the cryptocurrency profits?

I'd like to do it the proper way, so I don't get caught in the mix.

For a complete beginner, what would the process look like? Lets say, if you were to cash-out approximately 10k EUR per month, but all you got is your daily bank account and nothing else. Would I have to open a company? And if so, what would fit the best? Lets say, in Estonia.

I'm still learning, therefore - some of the questions might sound very newbish to you. But I rather ask them and see what the community says than simply make my own moves based on pure research knowledge.

Much appreciated.

 

[JohnnyDoe]

you should specify whether you want to do that under the radar or not

 

[crystalclear]

you should specify whether you want to do that under the radar or not

To be honest, I'd like to keep it as clean and transparent as possible in order to avoid unnecessary encounters with the government.

 

[JohnnyDoe]

Where do you reside? (The place where you file your tax returns)

 

[crystalclear]

Where do you reside? (The place where you file your tax returns)

Baltic States, Estonia.

 

[CyprusLawyer101]

I Believe Estonia would charge you 20% on any gain arising out of the sale of cryptocurrencies. There is a way to eliminate this tax but you will need to implement some structuring through a company. What total amounts are we talking about?

 

[MiddleEuroAsia]

Hi,

Could you please advise a newb when it comes to cashing-out the cryptocurrency profits?

I'd like to do it the proper way, so I don't get caught in the mix.

For a complete beginner, what would the process look like? Lets say, if you were to cash-out approximately 10k EUR per month, but all you got is your daily bank account and nothing else. Would I have to open a company? And if so, what would fit the best? Lets say, in Estonia.

I'm still learning, therefore - some of the questions might sound very newbish to you. But I rather ask them and see what the community says than simply make my own moves based on pure research knowledge.

Much appreciated.

P2P transactions with good documents is all you need. no need to complicate anything further for this amount.

 

[crystalclear]

I Believe Estonia would charge you 20% on any gain arising out of the sale of cryptocurrencies. There is a way to eliminate this tax but you will need to implement some structuring through a company. What total amounts are we talking about?

Basically, each cash-out would cost me 20% of the total funds withdrawn?

There is no specific amount in total. I'm just willing to prepare for it before time.

 

[CyprusLawyer101]

Basically, each cash-out would cost me 20% of the total funds withdrawn?

There is no specific amount in total. I'm just willing to prepare for it before time.

Generally yes, that is my understanding.