Help to create an offshore investment company for crypto trading

[CryptTrader]

Hi,

In the past year or so, I've been looking more and more about getting creating an offshore company to help me minimize the cost of crypto trading. But I have a few questions...

Can I incorporate a business which does nothing besides getting my money from trades and paying me a salary as a "manager"?
I need a place where I do not need to move but that gives me the protection required

I don't need total anonymity, just having my company giving me say 50k a year while making way much more, this way, I will still be legal without having to throw hefty amounts to the government for just buying and selling crypto.

Please remember that there's no money laundering or illegal activities involved.

 

[John Andrews]

You can set up a company in Croatia (EU!) for crypto trading, just find a good accountant (there are a few of them that do everything online and speak English very well).

Corp tax is 12%. Not sure about banking, but a d.o.o. can hold/trade with crypto without a problem, it's considered an asset.

Combined with non-dom residency at Cyprus... might be a good option.

 

[Satoshi]

Unless your cashing out millions, I would not even worry.

 

[CryptTrader]

Unless your cashing out millions, I would not even worry.

Well, while it's not in the 7 digits now, my point is that I did pay taxes on my crypto for the past two years. And since they're using the whole price sold - price paid to determine income, depending on the market, liquidating assets to pay in the future might be very costly. And with the exchanges being more and more open with governments... I prefer going a more legit route so to speak. IMHO, there's a difference between using a loophole and something that might come back hitting me in the face in 2-3 years.

 

[Satoshi]

True it could come back. Have to find an exchange that is cool and do your trading there. Just cash out btc.

Tracking all the sales is the hard part. Each trade is taxable. Stupid/

I cashed out $600,000 2 years ago, was just speaking on that experience

 

[CryptTrader]

True it could come back. Have to find an exchange that is cool and do your trading there. Just cash out btc.

Tracking all the sales is the hard part. Each trade is taxable. Stupid/

I cashed out $600,000 2 years ago, was just speaking on that experience

And hence why I'm here lol. I cannot wrap my mind around the taxable event thing. How do I own money to people because I bought x at y, resold at z and re-bought at lower price?

 

[Satoshi]

And hence why I'm here lol. I cannot wrap my mind around the taxable event thing. How do I own money to people because I bought x at y, resold at z and re-bought at lower price?

just like stocks. u pay on the profits. But no one is really searching for non-tax payers now

 

[silentreader]

just like stocks. u pay on the profits. But no one is really searching for non-tax payers now

you're joking right?

 

[CryptTrader]

You can set up a company in Croatia (EU!) for crypto trading, just find a good accountant (there are a few of them that do everything online and speak English very well).

Corp tax is 12%. Not sure about banking, but a d.o.o. can hold/trade with crypto without a problem, it's considered an asset.

Combined with non-dom residency at Cyprus... might be a good option.

But why a place like Cayman wouldn't be interesting? Is it because they ask for residency?

 

[CryptTrader]

you're joking right?

I know they check hence why I want to keep everything clean.

 

[Satoshi]

Only 2,000 people paid crypto taxes last year..... in the USA

 

[silentreader]

Only 1 Jew was killed because of his religion in Germany in 1932...