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FreeBit

New member
Under which jurisdiction could I incorporate my crypto assets to a company without being taxed for it or being asked about the source of funds?
 

neweraoffshore

IT Nerd Offshore Guy
Mentor Group Gold
Not being asked for source of funds is unrealistic if the amount is high.
Estonia, Switzerland and Germany have very crypto friendly and reputable banks which ask almost no questions, so if you know the offshore rules and how to move money you can incorporate in one of these countries and then shift profits to other low tax jurisdictions to pay out. They accept source of funds if it comes from a crypto enabled substance company in a reputable jurisdiction.
 

Don

Silver Member
Under which jurisdiction could I incorporate my crypto assets to a company without being taxed for it or being asked about the source of funds?
In Estonia, it is possible and has been done.
You will need to:
1) provide a contract for the transfer of the cryptocurrency to the company;
2) prove the sufficiency of the value of cryptocurrency for share capital by providing a screenshot of the daily exchange rate of the currency from a trusted cryptocurrency exchange website. In case the value of the share capital is above EUR 25,000 the value of the contribution must also be verified by an auditor. The auditor’s report concerning the verification of the valuation of the crypto shall then be provided to the notary at the time of incorporation.
 

CaptK

Nominee Company Bank Account Real Estate Passport
Mentor Group Gold
Please serious answers. Not uae spam
Your problem is with most jurisdictions is the bank. You can set up anywhere and transfer the assets as capital contribution.

In Estonia it's quite a labourious task the same as Malta and Cyprus.

Then you have audit requirements which are a nightmare.

When you get through those hoops then you can talk to the bank to see if they will accept.

Switzerland will ask for previous tax residency which then leaves you open for reporting and a tax bill plus penalty maybe in the future.
 

khinkali

Entrepreneur
@Don I know that Estonian AIF's can make and issue profits tax free, but would the example in your post avoid being taxed 20% on distribution?
 

Don

Silver Member
@Don I know that Estonian AIF's can make and issue profits tax free, but would the example in your post avoid being taxed 20% on distribution?
If you declare the share capital contribution with the tax authorities, then you can make tax-exempt distributions to the extent of paid-in capital in the future.
 

CaptK

Nominee Company Bank Account Real Estate Passport
Mentor Group Gold
If you declare the share capital contribution with the tax authorities, then you can make tax-exempt distributions to the extent of paid-in capital in the future.
You are still liable for tax from the jurisdiction from which you left which is what he said he wants to avoid.
Under which jurisdiction could I incorporate my crypto assets to a company without being taxed for it or being asked about the source of funds?

You can also use a BVI structure with banking in Switzerland or Montenegro if the holdings are 2M plus but it will cost you 50K set up.
 

mikestachurski

New member
In Estonia, it is possible and has been done.
You will need to:
1) provide a contract for the transfer of the cryptocurrency to the company;
2) prove the sufficiency of the value of cryptocurrency for share capital by providing a screenshot of the daily exchange rate of the currency from a trusted cryptocurrency exchange website. In case the value of the share capital is above EUR 25,000 the value of the contribution must also be verified by an auditor. The auditor’s report concerning the verification of the valuation of the crypto shall then be provided to the notary at the time of incorporation.
And the auditor it has to be like Deloitte or Accenture etc?
 

Verbatim

New member
Not being asked for source of funds is unrealistic if the amount is high.
Estonia, Switzerland and Germany have very crypto friendly and reputable banks which ask almost no questions, so if you know the offshore rules and how to move money you can incorporate in one of these countries and then shift profits to other low tax jurisdictions to pay out. They accept source of funds if it comes from a crypto enabled substance company in a reputable jurisdiction.
which banks are considered crypto friendly in Germany?
 
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