So many questions, so few reliable info

[Frederic]

Hi there,

I am in search for answers - this whole offshore thing is really confusing if you are not a very tax savvy person. And I hope there are some good hearted person, who is willing to help me.

The journey began that a friend and me started a website. It was well accepted and we got huge traffic.
We began to accept crypto payments from affiliate partners (which often dont have a company as well).
Now, we have quite some money sitting on the blockchain and are scared to let it hit the bank account.
The situation:

One of us is German, full-time employed. If he builds a business the taxation will hit in hard, and several other unfavorable consequences will apply, which will make this business not really teasing to keep.
The other guy is in the US and actually a full-time trader, who also works with our income on exchanges.

Question is now: Would it be an option for us to build a company offshore? How can safe this be without getting the tax hammer at one time? I heard Belize and Marshall islands have a great privacy.
Would we get a debit card from a bank over there to spend the funds we withdraw to this account?

Any insights will be helpful to give this route a head start.

Thank you in advance.

 

[void]

we have quite some money sitting on the blockchain

how many figures are we talking here about?

 

[Frederic]

For the last months 2 BTC and 25 ETH and growing monthly by around 10 eth and ~0.7 btc

 

[negon]

It's not safe any more to setup a offshore company, at least not safe taxvise! You want at least go for a Belize company with nominees to just get some sort of anonymity.

 

[void]

For the last months 2 BTC and 25 ETH and growing monthly by around 10 eth and ~0.7 btc

it's not that much - depending on location(s) you should more or less easily find a reliable partner (e.g. on localbitcoins) and sell for cash - this is what I would do under this circumstances

 

[Milky Moon]

I heard Belize and Marshall islands have a great privacy.
Would we get a debit card from a bank over there to spend the funds we withdraw to this account?

Well basically no bank over there where you can wire your crypto to and send it.

Also 1 BTC converted into EUR is not a problem.

 

[JohnLocke]

What's the problem to convert BTC to Mister Tango and from there wire it to a bank account? Or from Mister Tango to Revolut and then wire it to your bank account?

 

[realcat]

I heard mister MR tango fees are ridiculous, is that true?

 

[JohnLocke]

They are indeed, but the best option so far which I have found. They charge EUR 40 for each BTC transaction on top of a 2 or 3% exchange fee however, it works and you just need to exchang high amounts to bring down the flat fee at least!

 

[Frederic]

Hey Admin,
thank you very much! I never heard about this options. Can you enlighten me a bit? The websites are not very in-depth when it comes to what the services are actually about. Thank you for spoonfeeding me.

 

[extremedox101]

They charge EUR 40 for each BTC transaction on top of a 2 or 3% exchange fee

what a joke lol pure shaving at mtango
even wire transfer is cheaper .

 

[predator]

They accept direct bitcoin payments. Means, you transfer your BTC to Mister Tango, they get exchanged immediately when they hit their exchange and the money is credited to your account.

From there you can transfer the money to any bank account!

 

[JohnLocke]

what a joke lol pure shaving at mtango
even wire transfer is cheaper .

yes, but so far the market has only limited options to get BTC to FIAT quickly, so that's why they want this high fee I guess. We need more competition.