- Joined
- Apr 2019
- Messages
- 16
If you actively trade crypto, there are benefits in creating a Seychelles corp. You can open a corporate Kraken account and fund it with Monero. This would give you a good platform to trade without having to worry about reporting capital gains. But you can accomplish the same using decentralized exchanges.
Do you know which EMIs are supported by Kraken? I would like to know as well. I'd also like to know if any broker, fiat or stocks, would accept a Seychelles corporate account without a bank account. Funding woud have to be done to/from Kraken (through an EMI if necessary). This configuration would allow you to diversify your portfolio. Abscent from that, you can wait for crypto derivatives with non-cryto underlying (like MakerDAO) to become more mature to avoid fiat exit entirely.
I don't think that transferring fiat to your name is a good idea if you're in a developed country. They may not know about your crypto activities, but you may get audited because of the large transaction and fold under questioning. The best solution that I found is to use the offshore entity for tax deferral only. Pay yourself dividends, cash out and declare income. Your tax burden will be low if your lifestyle is frugal. Splurging is for normies anyway.
Alternatively, you may be able to make real estate investments using Bitcoin. This seems to be possible in theory but I haven't done enough research.
