Set up for crypto trading

sialala

Building Trust
Entrepreneur
Hello Fellas,

I am looking for a good private set up for a crypto trading. I would like to trade crypto in huge amounts and I wouldn't pay any taxes in my fu**** thievish country - read 19%.
I found some tips in threads about Seychelles ( whith nominee for full privacy) + EMI . What do You think about that ?

Thanks for any suggests or recommendation.

Cheers.
 

Larry

Banned User
BANNED MEMBER
Entrepreneur
Hello Fellas,

I am looking for a good private set up for a crypto trading. I would like to trade crypto in huge amounts and I wouldn't pay any taxes in my fu**** thievish country - read 19%.
I found some tips in threads about Seychelles ( whith nominee for full privacy) + EMI . What do You think about that ?

Thanks for any suggests or recommendation.

Cheers.
Cheers @sialala !
I have now successful 500k$ with Transferwise and Mistertango with Seychelles and Belize company over the last 12 months. I used Kraken as exchange and the most important thing I figured out is that you need to warm up the EMI's very good and that's need time but my last withdraws with Transferwise about 30k in on time transfer all no problem.

If you need to exchange and withdraw fast huge amounts I can suggest you Advcash they don't require anything and with business account you can fund 800k/month. But they are pricey. expect fees around 5%.
 

Admin

Forum Moderator
Staff member
I have now successful 500k$ with Transferwise and Mistertango with Seychelles and Belize company over the last 12 months.
With that money I would find a bank account somewhere to put your money or invest them in assets. To stash 500K USD in an EMI is insane sooner or later you will find yourself in troubles to get the money out.

OP, did you consider to move to a low- / no tax country at all? Otherwise I would advise you to find a tax lawyer or specialist that is able to help you with a good tax structure in your current country. Most of the high tax countries have tax benefits for instant to write off stuff business related.

If that isn't possible I would look into a setup in a non CRS country like Georgia or similar, it is not going to be easy but possible.
 

Larry

Banned User
BANNED MEMBER
Entrepreneur
With that money I would find a bank account somewhere to put your money or invest them in assets. To stash 500K USD in an EMI is insane sooner or later you will find yourself in troubles to get the money out.

OP, did you consider to move to a low- / no tax country at all? Otherwise I would advise you to find a tax lawyer or specialist that is able to help you with a good tax structure in your current country. Most of the high tax countries have tax benefits for instant to write off stuff business related.

If that isn't possible I would look into a setup in a non CRS country like Georgia or similar, it is not going to be easy but possible.
Sorry I didn‘t explain the whole structure. You Are 100% right. I‘m only talking about withdraw and then sending to a bank account. I see this is missing in my previous message. The above I can suggest for buy in and cash out crypto but for sure you should hold a real bank account behind this setup!
 

sialala

Building Trust
Entrepreneur
With that money I would find a bank account somewhere to put your money or invest them in assets. To stash 500K USD in an EMI is insane sooner or later you will find yourself in troubles to get the money out.

OP, did you consider to move to a low- / no tax country at all? Otherwise I would advise you to find a tax lawyer or specialist that is able to help you with a good tax structure in your current country. Most of the high tax countries have tax benefits for instant to write off stuff business related.

If that isn't possible I would look into a setup in a non CRS country like Georgia or similar, it is not going to be easy but possible.
Yea I thought about Georgia. Actually I've contacted with Bank of Georgia and I can open an acc but only personally.
Isn't any problem. But one think about non CRS. What about reporting from exchange ? They are reporting to the Ministry of Finance about traders on request - how to hide my ass? Correct me if I am wrong.

Cheers guys and thanks for answers and advices @Admin and @Larry !
@Larry I will contact You if I will need some advices in this case. You look like advanced playah! :D
 

7889

Building Trust
Entrepreneur
Yea I thought about Georgia. Actually I've contacted with Bank of Georgia and I can open an acc but only personally.
Isn't any problem. But one think about non CRS. What about reporting from exchange ? They are reporting to the Ministry of Finance about traders on request - how to hide my ass? Correct me if I am wrong.

Cheers guys and thanks for answers and advices @Admin and @Larry !
@Larry I will contact You if I will need some advices in this case. You look like advanced playah! :D
I don't think USA based exchanges will automatically report you. I can not guarantee it of course, but at least here's email from Kraken i received asking that very question

As a rule, we don't comment on any regulatory/compliance matters unless an event is of public interest. As your question is regarding a topic within our compliance policy, we're sorry to inform you that we cannot comment further on this. We hope you understand.

Nonetheless, please, note that we do not provide information to anyone unless we are under a legal obligation to do so. Otherwise, we do not report client's activities to tax authorities, prepare tax reports or do any kind of reporting on this. However, depending your jurisdiction you may owe taxes from owning, selling, or trading. It is your responsibility to report transactions to your local tax authorities.
 

sialala

Building Trust
Entrepreneur
I don't think USA based exchanges will automatically report you. I can not guarantee it of course, but at least here's email from Kraken i received asking that very question
I don't mean about auto reporting. I mean about requests from tax authorities to exchanges.

Thank You for respond and info about reports.

So do You think guys it will be enough to open an acc in Georigia's bank and just start trade ?
 

sialala

Building Trust
Entrepreneur
Cheers @sialala !
I have now successful 500k$ with Transferwise and Mistertango with Seychelles and Belize company over the last 12 months. I used Kraken as exchange and the most important thing I figured out is that you need to warm up the EMI's very good and that's need time but my last withdraws with Transferwise about 30k in on time transfer all no problem.

If you need to exchange and withdraw fast huge amounts I can suggest you Advcash they don't require anything and with business account you can fund 800k/month. But they are pricey. expect fees around 5%.

OK Larry I found Your post about Kraken and ePayments :
I need to confirm that 2 months ago I got the message from ePayments that it‘s not allowed to send from epayments to Kraken after I tried to execute the transfer but I remember I read this many times here on the forum.
With DSX it’s working perfect if you search on the forum you will find threads I already suggest it.
It is a problem with ePayments or with MisterTango and Transferwise too ?
 

Larry

Banned User
BANNED MEMBER
Entrepreneur
OK Larry I found Your post about Kraken and ePayments :


It is a problem with ePayments or with MisterTango and Transferwise too ?
Yep. with Transferwise you can only withdraw from Kraken but don't send funds to Kraken. With Mistertango is funding and withdraw possible BUT Mistertango lost their MasterCard and now they closed their doors for new customers this is a very bad sign in this industry + they started asking lots of questions in Q4 2018.
I know that LeoPay and MyPOS is working too but many people don't recommend them (see threads in forum) + they don't accept non EEA anymore. So there are some tricks it's still possible but you need to clever :cool:
 

sialala

Building Trust
Entrepreneur
Yep. with Transferwise you can only withdraw from Kraken but don't send funds to Kraken. With Mistertango is funding and withdraw possible BUT Mistertango lost their MasterCard and now they closed their doors for new customers this is a very bad sign in this industry + they started asking lots of questions in Q4 2018.
I know that LeoPay and MyPOS is working too but many people don't recommend them (see threads in forum) + they don't accept non EEA anymore. So there are some tricks it's still possible but you need to clever :cool:
I will try to find out why they aren't recommend it. Thanks for info.
@Lary what do You think about non CRS bank acc for crypto trading like bank in Georgia? Good idea ?
 

Larry

Banned User
BANNED MEMBER
Entrepreneur
Hey Larry, can you share what Swiss private bank you are using? If not possible, can you recommend any good Swiss private bank?
Yes for sure just try to register a new account and you will get a e-mail that they want to "improve" the Mistertango online banking experience with a new system and in the meantime they don't onboard new user. Just search in the forum and you will find other users saying the same.

Just to clear the air I give only recommendations for things I work out in practice for myself u will never find any copy+paste recommendations without practice experience on my side.

I will try to find out why they aren't recommend it. Thanks for info.
@Lary what do You think about non CRS bank acc for crypto trading like bank in Georgia? Good idea ?
I work with Bank of Georgia since a little bit more then year with their private banking sector and you have to individually discuss this things with them. They don't have clear rules. For example I tried to transfer money to Kraken via SWIFT wire and they rejected trough online banking automatically. So I shoot them a message and they said to me that they need to decide from case to case and then execute the transfer manually. But on the other side I received already a 100k OTC transfer to the account. I will shoot my personal banker a message to get a clear answer and then let you know here thu&¤#
 
Hello Fellas,

I am looking for a good private set up for a crypto trading. I would like to trade crypto in huge amounts and I wouldn't pay any taxes in my fu**** thievish country - read 19%.
I found some tips in threads about Seychelles ( whith nominee for full privacy) + EMI . What do You think about that ?

Thanks for any suggests or recommendation.

Cheers.
Estonia currently is the cheapest and best place to setup crypto trading company
 

OTR365

Active Member
Estonia currently is the cheapest and best place to setup crypto trading company
Estonia grants cryptocurrency licenses for exchanges etc., but this is not what OP is after.

I doubt it is the cheapest place to run a company in general, as salaries are higher than in many Eastern European and Balkan countries. While e-Estonia hype is partly justified, many of their services (bookkeeping etc.) now come with a premium-ish price tag.

Estonian authorities and banks do not like crypto. In fact, the whole Nordic-Baltic region is in AML psychosis due to the Kreml money laundering scandal. For example, Danske Bank and Handelsbanken are closing their operations in the Baltic countries. LHV Bank could be a possible exception to the rule, but how different could they be? If someone has a well-functioning setup for moving six or seven figures via a bank in Estonia/Latvia/Lithuania, I'd be grateful to hear about it.

It will be relatively easy for OP to send his money to a crypto exchange. It will be much more difficult to withdraw, especially if we're talking about sizable amounts. I would proceed with opening an account in non-CRS country, just to plant my foot there while it is still easy. But if you don't want to keep your money forever in e.g. Georgia, you're going to be asked a lot of questions when you try to bring your money back to EU/UK/US. This is the problem with offshore company setups as well.
 

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