Our valued sponsor

Buying bitcoin with offshore company and cashing out in my country

Yaneek

Active Member
May 8, 2017
73
26
18
47
Register now
You must login or register to view hidden content on this page.
I am thinking about ways to spend all my offshore company money and bring it home.
I'm affraid of declaring it as dividends and I am still thinking about selling "digital goods" from my offshore to my onshore.

But I am also looking for alternatives.

I thought about buying crypto with my offshore company and them selling the crypto and withdrawing it at home in my name.

I am wondering if anybody ever asks where I got the bitcoins from?
Or maybe I can buy the crypto from my offshore company and have that as source?

As far as I know nobody will ask me where all the money went with my offshore company so I could just close that?!.

Any ideas are more than welcome.
 
I don't understand what will crypto involvement change here. Don't you have to pay taxes from your profit when cashing it out in you home jurisdiction?
Normally you should declare what money you used to buy the coins and for what price. This (compared to the money received after exiting your position) is the source for stating your profit which is subject of taxes.
 
Register now
You must login or register to view hidden content on this page.