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Off shore Private account wiring crypto currencies.

testy

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Oct 3, 2017
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US Citizen here.

Now crypto currencies have some pretty high taxes in the states and the states ask other banks to report us citizen with amounts of $50,000 in offshore accounts. So I happened to have profited a good amount from bitcoin being an early adopter or early hobbiest that found some of their coins not to long ago. I was thinking if I wanted to do this right I need multiple business as if I had an offshore company wouldn't they have to report me to the irs since I am a citizen, or do some of these just not report since it is technically a business. From my understanding I need one bank account in one country to own another in another country correct?

Any advice is welcome. I would also like to be able to link this bank account to one of the exchanges and sell bitcoin and have it wired to an account that can't be traced back to me.
 
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Well, as far as you may have read already on the forum then US citizens get reported anyway regardless how you setup the whole thing. The banks ask you to complete a form regardless if it is a corporate or personal account you setup.

You may find other ways to do this!
 
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So I would need someone to open the bank account in the name of the business for me. The business would have to be in a country that has strict privacy laws correct? Or is this just not a possible thing.
It's not possible unless you are using darks! you can't hide from the US Goverment any longer with an offshore bank account! Alternative is a huge Trust / Foundation setup which I doupt anyone will do for US Citizens to avoid troubles.
 

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