Legally cash out $1+m in crypto - what are the options?

[clemens]

1) Enstablish tax residency in UAE (you can do it with a Freelancer Visa for $3-4k per year)
2) Incorporate a foreign-owned US LLC and open few bank accounts through Mercury/Novel/Wise etc.
3) Sell crypto through Binance P2P and send fake Consulting/Marketing invoices to your bank when requested.

You should now have your 0% taxed money in a bank account and a clean Source of Wealth to provide in the future (business profits as self-employed).

Let's hope they do not check the invoices or try to call the company issued the invoice. I know, chances are small and they are limited to what they can do but still.

 

[hallcall]

But even if your lawyer is able to make a deal with the tax office (and you are satisfied with that deal) you would need to find a bank who accepts your vague SOF.

Deal with tax office through lawyer = history of whatever is findable (sales, trades, CEX history) over the past x years has been provided and used with an accountant to calculate tax. You can't get much more "by the books" than having an expensive lawyer, crypto accountant, and the actual tax office sign off on your crypto history. Wouldn't consider that vague.

 

[uplana]

Most often a tax lawyer won't help you much against these suckers in the tax office. They will and can refuse even hard evidence.

 

[bibing]

Which country are you from? If you don't say that we can't provide good solutions

 

[Marshal]

Which country are you from? If you don't say that we can't provide good solutions

People with such questions tend to withhold as much of their personal information as possible.