Trading Cryptocurrencies using offshore company?

[rtrader]

Hi,

I am trying to figure out how to pay as little tax as possible when trading bitcoin and other crypto. I am from an European country so currently I have to pay very high taxes.

My initial plan was to create a IBC in lets say Panama (I was told Panamanian companies have no reporting rquirements when it comes to offshore income) using nominee directors from a law firm. Then I would open an offshore corporate bank account in e.g. Singapore. The problem is that my country has CFC laws meaning my company would still be taxed here as long as I am shareholder.

Then I thought what if I used e.g. bearer shares and used nominee shareholders as well. Now I could not be linked in any way to the company.

 

[rtrader]

But after reading this forum I realized there seems to be another problem. Once I open the corporate bank account using POA, they would still count me as the UBO and thus report any funds automatically to the tax authorities in my country of residence thanks to AEOI.

 

[rtrader]

Well I cant write the rest because the firewall keeps blocking me....

 

[rtrader]

Am I correct to assume the ultimate point of failure is the bank account? So unless the corporate bank account is in a non AEOI country its impossible to keep company funds private? Is there any simple way to get around this or would it be easier to move to another country with better tax laws?

 

[icecold]

What is the outcome of your business activity so far? I see you never got an reply to your questions so did you get started?