Cash - what to do?

Bank Accounts, Company Formations, Tax Planning, Residency Solutions, and more
CALL US ON +971 50 4467827 - TO SETUP YOUR NON-CRS COMPANY STRUCTURE IN DUBAI.

Zaiga

New member
Hey guys!

I've made a some money with crypto over time. It was never illegal money in the first place, but it is almost impossible to prove the origin.
I am able to cash out crypto. But I've no use for so much cash.
I would like to "legalize" a part of it, It would be fine for me to pay up to 15-20%.

Or have the crypto in some offshore bank.

Open for any ideas!

Thank you!
 

JohnnyDoe

Mentor Group Gold
Hey guys!

I've made a some money with crypto over time. It was never illegal money in the first place, but it is almost impossible to prove the origin.
I am able to cash out crypto. But I've no use for so much cash.
I would like to "legalize" a part of it, It would be fine for me to pay up to 15-20%.

Or have the crypto in some offshore bank.

Open for any ideas!

Thank you!
I can help
 

void

Entrepreneur
many people have this kind of problems for various reasons

15-20% seems like a huge premium to me and you can surely find many cheeper solutions

smartest solution in my eyes is not to sell but to borrow against your crypto (there are good and bad ways how to do it)

or

you can form a company and later (as an only owner/shareholder) "deposit" your crypto to the company which will appear on the balance sheet eventually - then you can sell the company/share

or

buy real estate for crypto and then resell it for cash, in the right jurisdiction you will not pay any taxes unless you make profit on the sale
 

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
But I've no use for so much cash.
I would like to "legalize" a part of it, It would be fine for me to pay up to 15-20%.

You mean launder in order to disguise the origin of the cash. Call it what it is.

I would firstly find out if the money is actually subject to any tax and at what rate. Then see if their is any amnesty programs in your country. Only after that would I check what other options are available.
 

void

Entrepreneur
You mean launder in order to disguise the origin of the cash. Call it what it is.
call it whatever you like but it's disgusting and immoral to consider everyone guilty until proven otherwise

taxmen are putting people into this position against their own interest and push tax payers (even those willing to pay) to search ways how to "legalize" something that is not elegal
 

JohnnyDoe

Mentor Group Gold
call it whatever you like but it's disgusting and immoral to consider everyone guilty until proven otherwise

taxmen are putting people into this position against their own interest and push tax payers (even those willing to pay) to search ways how to "legalize" something that is not elegal
Talking of morality in this forum makes me laugh rof/%
But admins might need to show some moral principles by time to time in order to satisfy the big brother who is reading us
 

Jerry1911

Entrepreneur
You mean launder in order to disguise the origin of the cash. Call it what it is.
Doesn't necessarily mean he's lying. I have a friend who has ~4M EUR in crypto that's almost impossible to cash out because he didn't keep track of transactions. He made it across multiple exchanges (some of which don't even exist anymore) with spot/futures trading, staking, mining, etc...
 

JohnnyDoe

Mentor Group Gold
Doesn't necessarily mean he's lying. I have a friend who has ~4M EUR in crypto that's almost impossible to cash out because he didn't keep track of transactions. He made it across multiple exchanges (some of which don't even exist anymore) with spot/futures trading, staking, mining, etc...
I would be happy to buy from your friend
 

void

Entrepreneur
Doesn't necessarily mean he's lying. I have a friend who has ~4M EUR in crypto that's almost impossible to cash out because he didn't keep track of transactions. He made it across multiple exchanges (some of which don't even exist anymore) with spot/futures trading, staking, mining, etc...
then he is living/cashing out in a wrong country
e.g. in Eastern Europe he would have no problems (for now) - he should better do it soon
 

Zaiga

New member
Thank you for your various replies! Finally, a community which is solution oriented.

many people have this kind of problems for various reasons

15-20% seems like a huge premium to me and you can surely find many cheeper solutions

smartest solution in my eyes is not to sell but to borrow against your crypto (there are good and bad ways how to do it)

or

you can form a company and later (as an only owner/shareholder) "deposit" your crypto to the company which will appear on the balance sheet eventually - then you can sell the company/share

or

buy real estate for crypto and then resell it for cash, in the right jurisdiction you will not pay any taxes unless you make profit on the sale
Thank you void!
1.) Borrowing, not really familiar with this any tips here?
2.) Smart, but during the capital deposition I would again be asked from where do I've the money (at least in on of my countries)
3.) That would be great! But which countries sell property for crypto without asking about the origin


You mean launder in order to disguise the origin of the cash. Call it what it is.

I would firstly find out if the money is actually subject to any tax and at what rate. Then see if their is any amnesty programs in your country. Only after that would I check what other options are available.
It's not possible bcs there is simply no "origin" of the money. The exchanges don't exist and in and out wallets changed or don't exist either.
There was also never a buy moment as most came from the early times of crypto.


Doesn't necessarily mean he's lying. I have a friend who has ~4M EUR in crypto that's almost impossible to cash out because he didn't keep track of transactions. He made it across multiple exchanges (some of which don't even exist anymore) with spot/futures trading, staking, mining, etc...
Yes exactly

I can help
Thanks, could you be a bit more specific?
 

JohnnyDoe

Mentor Group Gold
Thanks, could you be a bit more specific?
Simple: you have crypto, I want to buy it. You need to have a company where to receive fiat, or I can give you cash. For more info, pm me. (And my fees are cheaper than what you would be fine to pay ;) )
 

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
call it whatever you like but it's disgusting and immoral to consider everyone guilty until proven otherwise

I am just stating facts. He wants to hide origin of the funds i.e launder it.


Doesn't necessarily mean he's lying.

No one accused him of lying....lol.


It's not possible bcs there is simply no "origin" of the money.

So the crypto dropped from the heavens?

The exchanges don't exist and in and out wallets changed or don't exist either.
There was also never a buy moment as most came from the early times of crypto.

Again it did come from somewhere. Whether the source cease to exist today or whether you mined them or were given them etc it came from somewhere. My first post still applies.
 

CyprusLawyer101

Mentor Group Gold
Hey guys!

I've made a some money with crypto over time. It was never illegal money in the first place, but it is almost impossible to prove the origin.
I am able to cash out crypto. But I've no use for so much cash.
I would like to "legalize" a part of it, It would be fine for me to pay up to 15-20%.

Or have the crypto in some offshore bank.

Open for any ideas!

Thank you!
Hello, I believe I have the right solution for you. If you would be interested to hear.more, I can PM you
 

clintk84

Silver Member
You could always buy or make an investment in physical assets with the crypto,
Like a sailing yacht or fractional shares in one? We will happily accept crypto.
I send you a PM if you want more details
 

Attachments

  • Pic2.jpeg
    Pic2.jpeg
    301.4 KB · Views: 29

wellington

Entrepreneur
Surely, move to Dubai, OTC, and then send back home and pay a tax on return (if any).
I get where the orig poster is coming from, i bought bitcoin around 28 cents lol, and even though i know the flow none of the parties exist anymore.

irony.
 

Latest Threads

Top