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Cashing out bitcoins received as gifts

dariav

New member
Hello,

I am a findomme (men pay me to control their finances) and was thinking of accepting crypto as a way of receiving gifts/donations. However, would I not have problems to cash my cryptos out? It would be difficult to prove the origin of funds.
I am open to relocating anywhere this might be easy to do. Currently a FR citizen and resident.

Thank you.
 

KJK

Entrepreneur
Best solution is not to cash out and keep your Bitcoins.

Second best solution is residency anywhere else than France which is probably the worst country for almost everything tax-related. Even many nearby countries may be better for you (if you are not bound to a specific location), such as Portugal.
 

dariav

New member
Haha, it's not that weird is it?

I was considering all EU countries and Georgia as it is easy for me to become a resident there.
 

CaptK

Company Formation, Bank Account, Real Estate
Mentor Group Gold
Well if you do it correctly you can get someone to pay for your Villa in Portugal or Cyprus which have much lowe tax. If you get yourself a Revolut account you can accept cash and crypto quite easily.
 

Admin

Forum Moderator
Staff member
Elite Member
countries and Georgia as it is easy for me to become a resident there.
There are a few other forum members who mentioned Georgia to be a good location to relocate, so if you can do that it may be worth to look into. Depending on how much money you will earn in donation or whatever you call it, then Switzerland / Zug may still be a better alternative.
 

dariav

New member
Thank you guys for the feedback. The volume is fairly small, but should be around 5K euros per month.
My main concern is how to justify the origin of the funds.
 

avalanche

Entrepreneur
Thank you guys for the feedback. The volume is fairly small, but should be around 5K euros per month.
My main concern is how to justify the origin of the funds.
Ask them to attach an official letter to their donation lol.
 

dariav

New member
Bonus points for being able to blackmail your clients later.
I see that some of you are connoisseurs. Any other advice related to the origin of funds? Or maybe someone who knows more about the situation in Georgia?
 

Martin Everson

Offshore Retiree
Mentor Group Gold
Elite Member
Haha, it's not that weird is it?
Not that weird buddy...lol? Never heard of this fetish but sounds a bit like the treatment some got who held offshore company accounts at Rietumu Bank smi(&%.

Any other advice related to the origin of funds?
Shouldn't be a problem if you decide to accept crypto and spread income around different crypto EMI's when cashing out.
 

avalanche

Entrepreneur
I see that some of you are connoisseurs. Any other advice related to the origin of funds? Or maybe someone who knows more about the situation in Georgia?
Georgian banks could not give less care about where the money is coming from as long as you keep it below $10k/mo. They are totally cool with crypto.
 

cyprus123

Silver Member
Georgia is a very good option in perspective of taxes and also more or less crypto friendly. But it's quite some different lifestyle than France, from July there are flights again, so best to visit and find out if it's for you.
In EU best options are Malta and Cyprus for residence (in my opinion). Also Bulgaria is not bad.

Why are clients donating for financial advise? This is a new concept to me, usually there shall be a percentage or fee agreed?
 
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