Question New and confused

[Blacky]

I’m new and confused to this stuff. Thing being I have a source of income where I get 2-3k€ in cryptocurrency and I cannot justify the funds. I am thinking to open a front business where I can flow my crypto earning thru it and report it as legal money. Any ideas or where should I look into that kind of thing? Sorry for being stupid..

 

[CaptK]

Bankera will open you a bank account and they are crypto friendly.

Then you can receive the funds and declare. No need to hide it.

Speak to @Gediminas he can help.

 

[JohnnyDoe]

Bankera will open you a bank account and they are crypto friendly.

Then you can receive the funds and declare. No need to hide it.

Speak to @Gediminas he can help.

Bankera *might* open an account for you, after you pay a 550 Eur non refundable application fee.
There are plenty of other crypto friendly banks and EMIs that don’t ask for an application fee.

 

[Blacky]

Bankera will open you a bank account and they are crypto friendly.

Then you can receive the funds and declare. No need to hide it.

Speak to @Gediminas he can help.

Bankera *might* open an account for you, after you pay a 550 Eur non refundable application fee.
There are plenty of other crypto friendly banks and EMIs that don’t ask for an application fee.

Noo, I mean I can’t declare my crypto earnings, what would I say where I got them from? I mostly need a way to tell the government I am employed and prove where I’m getting the funds from, I cannot say the exact way I’m getting them

 

[JohnnyDoe]

Noo, I mean I can’t declare my crypto earnings, what would I say where I got them from? I mostly need a way to tell the government I am employed and prove where I’m getting the funds from, I cannot say the exact way I’m getting them

Setup a front business. Be imaginative.

 

[Blacky]

Setup a front business. Be imaginative.

Any tips? Wouldn’t it be suspicious that I get paid mostly crypto?

 

[CaptK]

Any tips? Wouldn’t it be suspicious that I get paid mostly crypto?

You can sell your crypto OTC and get paid directly to your bank account from a company.

 

[Blacky]

You can sell your crypto OTC and get paid directly to your bank account from a company.

And when the tax inspection comes knocking on how I’m getting this much money from this company? I can easily get bank transfers from Binance anyways

 

[CaptK]

Use a private OTC that doesn't have any thing regarding crypto in the name.

The payment will come from ABC Limited. Therefore making it fit for your issue and it's not connected to any exchange. You simply did a transaction with ABC Limited and you have been paid.

 

[Blacky]

Use a private OTC that doesn't have any thing regarding crypto in the name.

The payment will come from ABC Limited. Therefore making it fit for your issue and it's not connected to any exchange. You simply did a transaction with ABC Limited and you have been paid.

Yeah but still if I am earning any money I need to declare it and it is my point. I need to government to see that I am earning money

 

[CaptK]

PM to discuss

 

[avalanche]

I’m new and confused to this stuff. Thing being I have a source of income where I get 2-3k€ in cryptocurrency and I cannot justify the funds. I am thinking to open a front business where I can flow my crypto earning thru it and report it as legal money. Any ideas or where should I look into that kind of thing? Sorry for being stupid..

sounds like money laundering offense. even if your crypto income is 100% legit, the very fact that you misrepresent source of funds can land you in jail. ask yourself, is it worth it for 3k EUR?

at least use p2p cashout options and meet people to pick up cash.

 

[Blacky]

sounds like money laundering offense. even if your crypto income is 100% legit, the very fact that you misrepresent source of funds can land you in jail. ask yourself, is it worth it for 3k EUR?

at least use p2p cashout options and meet people to pick up cash.

I feel like it is worth it as long as they don’t notice and I pay taxes on it. All I need is to justify it so I can be eligible for loans, mortgages, credit cards. I can get cash thru atms.

 

[avalanche]

I feel like it is worth it as long as they don’t notice and I pay taxes on it. All I need is to justify it so I can be eligible for loans, mortgages, credit cards. I can get cash thru atms.

I'd suggest open a company where crypto is allowed (Estonia for example). Then get dividends or salary from it. Much safer for you

 

[wellington]

Post looks heavily like 'bank fraud', 'wire-fraud', and 'money laundering'.

Advise answering with caution !!!

 

[Blacky]

Post looks heavily like 'bank fraud', 'wire-fraud', and 'money laundering'.

Advise answering with caution !!!

It’s more of a gray area what I do I’d say