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jermird

New member
How would you go at preferably cashing out or converting to another hard asset like gold bars about

200-400k € in BTC that is not connected to the person in question in any kind of way but the person cannot provide any source of funds / proof of origin.

A legitimate business exists in a low tax EU location (the certain small island) as well as double that amount in legit cash. No tax is being paid on foreign income and foreign income also does not have to be declared. Again though with CRS etc questions about origin of funds could not be answered if they were asked.

The BTC are actually legit however the person in question does not in any kind of way no matter what want to be associated with the origin so proof / source of funds is out of question and as such also official taxation whatever unless it can be mixed into the legit business securely.

Cashing out via cards in other countries (btse?) or bullion (bullionstar?) would be an option. Person in question just does not want to hold the full amount in BTC so e.g. buying gold bars via btc in Singapore via bullionstar would be option and they dont seem to report but still will require personal details of course. Not sure how risky that would be. Question of importing said gold in the EU would also be an issue i guess since bullion is vat/import tax free but has to be declared as such afaik.

Timeframe in question would be 12-24 months. Person is traveling extensively in the EU and US so could pull cash out of ATMs easily and has no problem in storing the cash.
 

CaptK

Nominee Company Bank Account Real Estate Passport
Mentor Group Gold
There is a big appetite for BTC in the UAE. Transactions can be done in cash, gold or even set up a HNW account there and have the cash placed there with a card and online banking facility.

Alternatively get a Nominee account on both the wallet and bank account. Then you have full access to the funds at your leisure.
 

GiGoGo

I make things happen
Entrepreneur
You can get hard cash in big amounts in Hong Kong for BTC legally. After that, buy gold bars with the cash.
 

jermird

New member
Hmmm possible, problem is of course declaration of >10k cash on entry into EU??? and flight costs to HK being quite high and kind of impossible covid wise for the foreseeable future. Guess i could deposit half in Gold in a storage but would not want to do that in HK under current circumstances.
 

aquarius

New member
Hmmm possible, problem is of course declaration of >10k cash on entry into EU??? and flight costs to HK being quite high and kind of impossible covid wise for the foreseeable future. Guess i could deposit half in Gold in a storage but would not want to do that in HK under current circumstances.

Well, storage in HK may not be on top of the list but it certainly beats any location in the EU, US or Australia.
 

GiGoGo

I make things happen
Entrepreneur
Well, storage in HK may not be on top of the list but it certainly beats any location in the EU, US or Australia.
Don't know much better places than HK, SG or Switzerland
 

jermird

New member
yeah on the list

i dont particularly like not having physical control over it especially in the current geopolitical climate and direction. many people thought their assets were safe on the other side of the world but all that was left at the end of the day was a worthless deposit book.

in general those locations are 100x better than EU though i agree.

anybody got experience with der safe in austria?
 

eastern

New member

you can redeem for gold bar as long as you meet min. requirement.
 
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