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Corporate bank account for cashing out bitcoin payments in USD/ EUR for 500k+

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Hi there

I work in the forex industry (not crypto) with my own funds. There's a broker that let me trade extremely high and thanks for that I can open bigger positions every day. However, I can only deposit and withdraw via Bitcoin.

I don't have problems engaging businesses with the biggest exchangers because I can incorporate a business for doing this, not under my own name. I was thinking about incorporate in UK LLP and/or Scotland LLP. Those are the only places in EU Zone that I have read you don't pay taxes if you're not a EU resident, UK Resident, UK sources EU sources etc... I'm latin american citizen and resident, the broker is out of EU and USA. However, they may not allow USA companies, but does offshore and onshore like the mentioned before.

So I would need a bank account for cashing out that bitcoin payments to bank account for a weekly basis. The exchanger is going to be the one who is going to make the payment via SEPA.

Do you know which banking jurisdictions and/or bank names could help me out in EU?
Do you think it could be possible open the corporate account although I'm not EU citizen?
Do you think the "Switzerland" could help because they will love large amounts?
Will be UAE definetively the only place they will like to help young people? However, How am I going to send the payment to UAE banks? These big exchangers only make SEPA payments.

Finally, EMI institutions is not an option.

Thank you in advance.
 

CaptK

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Forget UK it wont work.
I'm guessing you use Vide Forex or a similar company which are Bitcoin based for regulatory reasons. Problem is you need an exchange to fiat then to a bank account.

UAE is the best place for cash out and even you will find many buyers there who are cash ready. Initially sell to them because then your funds are coming from the UAE. When you convert to fiat via the exchange start with smaller amounts and build up gradually.

UAE works on an IBAN system so if you use Kraken, Coinbase or any of the major players it wont be a problem.

Switzerland is another place to stat away from there are too many reasons to write.
 

GiGoGo

I make things happen
Silver Member
I found HK very easy to cash out crypto if you are happy to pay taxes.
 

Admin

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I don't have problems engaging businesses with the biggest exchangers because I can incorporate a business for doing this, not under my own name. I was thinking about incorporate in UK LLP and/or Scotland LLP. Those are the only places in EU Zone that I have read you don't pay taxes if you're not a EU resident, UK Resident, UK sources EU sources etc..
You want to travel to the UK, make an appointment with a good TAX ADVISOR AND TAX LAWYER before you come there and ask them to help you. It make good sense to consult professionals that know what they are doing in your case.
 
I found HK very easy to cash out crypto if you are happy to pay taxes.
How much are we talking about? Do I need to become a resident? Do I need to incorporate a company ?

Thank you all for your comments, I will consider it. However I have an update, but I am not going to do it here, I will open a last thread inside bitcoin forum. Thank you
 

GiGoGo

I make things happen
Silver Member
How much are we talking about? Do I need to become a resident? Do I need to incorporate a company ?
8.25% profit tax for the first 258k USD, and you can deduct almost everything. The problem would be with banking, they ask for proof of doing local business
 
8.25% profit tax for the first 258k USD, and you can deduct almost everything. The problem would be with banking, they ask for proof of doing local business
Ohhh I see the situation about local business. How bad but I understand, Thank you so much sir. Stay safe
 

reesek

EU IBANs for everyone!
Silver Member
you can use the uae entity to cash out crypto tax free
 

Admin

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Admin

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perfect, there are a lot of other threads around at OffshoreCorpTalk already, you may see here:

It's worth to use google search like:
Code:
site:ofshorecorptalk.com <search term>
so it will spit out all about the topic we have around here, works great.
 
perfect, there are a lot of other threads around at OffshoreCorpTalk already, you may see here:

It's worth to use google search like: site:eek:ffshorecorptalk.com <search term> so it will spit out all about the topic we have around here, works great.
I did not know this kind of searching but now I know, thank you one more time sir for your guidance.

All the best.
 

moneyhoney

Active Member
The problem would be with banking, they ask for proof of doing local business
That's not always the case. I opened a bank account with a major bank and definitely they didn't ask me for ties with HK (I have none).

Still, I know nothing about cashing out btc with a bank account in HK (but I'm pretty sure they jump on the chair if you mention it).
 
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