Hello everyone, I've recently started my journey into starting an offshore company and I have so many questions! I hope this is the right place to post as I was directed here for my first post.
I'm in the USA and over the past year I have invested in a crypto that had crazy gains and I would like to mitigate my tax obligations as much as possible. Currently I have over $100k in assets which could grow even more over the next year. For context, I originally bought Ethereum on a central exchange and then sent that ETH to my decentralized wallet. Since then, because of the gains, I've cashed out small amounts through my original central exchange a few times.
My plan is to create an offshore business for trading in non-US markets and growing my portfolio with minimal taxation, possible property investments in the future as well. Is it possible for me to claim no ownership of the decentralized wallet (implying that the offshore company owns it) as there is no way to prove ownership and just pay the taxes on the crypto that went through my CEX? I would also want to pay myself from this company as to establish an income on paper. If so, what would be my best options for offshore companies in a crypto tax haven?
I look forward to the replies and hope to have a good discussion!
I'm in the USA and over the past year I have invested in a crypto that had crazy gains and I would like to mitigate my tax obligations as much as possible. Currently I have over $100k in assets which could grow even more over the next year. For context, I originally bought Ethereum on a central exchange and then sent that ETH to my decentralized wallet. Since then, because of the gains, I've cashed out small amounts through my original central exchange a few times.
My plan is to create an offshore business for trading in non-US markets and growing my portfolio with minimal taxation, possible property investments in the future as well. Is it possible for me to claim no ownership of the decentralized wallet (implying that the offshore company owns it) as there is no way to prove ownership and just pay the taxes on the crypto that went through my CEX? I would also want to pay myself from this company as to establish an income on paper. If so, what would be my best options for offshore companies in a crypto tax haven?
I look forward to the replies and hope to have a good discussion!
As a consolation, at least my main gains are long-term now if nothing else
