Cyprus non-dom tax resident tax for long term crypto holding sales?

[Researcher]

What are long term hold (1+ years) crypto sales tax% in Cyprus for individual non-dom tax resident?

Can Cyprus non-dom tax residency be used to effectively sell long term crypto holdings for minium to no tax?

 

[GrumpyMess]

What are long term hold (1+ years) crypto sales tax% in Cyprus for individual non-dom tax resident?

The term doesn't matter. Crypto to fiat is taxed at general tax rates up to 35%.

 

[Researcher]

The term doesn't matter. Crypto to fiat is taxed at general tax rates up to 35%.

Well, that is totally horrible and completely unacceptable.
What ways to cash out crypto in Cyprus with low tax?
Can physical person lend crypto to Cyprus company and then company sells this Crypto for low tax?

 

[GrumpyMess]

Well, that is totally horrible and completely unacceptable.
What ways to cash out crypto in Cyprus with low tax?
Can physical person lend crypto to Cyprus company and then company sells this Crypto for low tax?

There is no easy way to do this, but tax advisors suggest doing this through a company. In some ways this is even better, because sof will be dividends and not crypto, but 15% tax may be isn't what are you looking for. May be it will be possible with an offshore company and 2.65% tax. Anyway I'm interested in the same route. But the more I learn about Cyprus, the less I want to live there, so make sure you definitely want to spend 60+ days there.

 

[Researcher]

There is no easy way to do this, but tax advisors suggest doing this through a company. In some ways this is even better, because sof will be dividends and not crypto, but 15% tax may be isn't what are you looking for. May be it will be possible with an offshore company and 2.65% tax. Anyway I'm interested in the same route. But the more I learn about Cyprus, the less I want to live there, so make sure you definitely want to spend 60+ days there.

But how do you transfer crypto from physical person to a Cyprus company?
What mechanism can be used for this? Lending?
Also important - which banks will be OK with a company dealing with crypto and accept money from crypto exchanges?

 

[zaybxc]

I've been looking into Cyprus and the big advantage is that crypto-to-crypto swaps are not taxed, but only crypto-to-fiat; so, on a personal level, one might trade and (if lucky!) increase his crypto capital.
It seems to me that it's quite expensive to maintain a company that trades crypto in Cyprus; beside accountants, auditor, provisional tax etc. a bank account in a crypto specialized Swiss bank like Sygnum or Seba costs around 1000 euro per month.
I did some quick calculation and to trade one's own crypto through a company in Cyprus is convenient only if one can cash out at very least 300k euro a year on average. Otherwise it's better to do it on a personal level and save the headaches that all the company overhead brings.

 

[CyprusLaw]

But how do you transfer crypto from physical person to a Cyprus company?
What mechanism can be used for this? Lending?
Also important - which banks will be OK with a company dealing with crypto and accept money from crypto exchanges?

This can be through a loan or a capital contribution.

I've been looking into Cyprus and the big advantage is that crypto-to-crypto swaps are not taxed, but only crypto-to-fiat; so, on a personal level, one might trade and (if lucky!) increase his crypto capital.
It seems to me that it's quite expensive to maintain a company that trades crypto in Cyprus; beside accountants, auditor, provisional tax etc. a bank account in a crypto specialized Swiss bank like Sygnum or Seba costs around 1000 euro per month.
I did some quick calculation and to trade one's own crypto through a company in Cyprus is convenient only if one can cash out at very least 300k euro a year on average. Otherwise it's better to do it on a personal level and save the headaches that all the company overhead brings.

You could go for an EMI instead, like ZEN for example. Cost will be significantly lower.