Cashing out crypto with almost non SoF?

Just go to Dubai, form a company in IFZA, find some guys in this platform that would love to receive crypto in exchange of useless fiat from their company. invoice them, get the money.

or call me, always happy to buy crypto

JohnnyDoe said:

or call me, always happy to buy crypto

i was about to tag you but said meh crypto monster will see the thread and jump in already

MocCom said:

Why Dubai in that case? Because they don't care or only for tax purposes?

Selling crypto is not exactly the problem, more like having funds which I can use afterwards. If there's some way to make B2B transactions, ideally for the purchase of certain domain names, it might be an option.

Both. Dont even try that ideas you have said, youre in Europe and you cannot just pay the fine and walk out, there would be jail time because what youre saying is tax fraud, even the idea itself is innocent.

Just form a company in Dubai freezone, invoice someone outside of Dubai who wants crypto. The tax rate is 0% or 9% depending on activity area. Then you can pay yourself as divident or flex with your company bank balance, dunno its up to you.

About your reply to JohnnyDoe; he is the one who would solve that ;)

i am repeatedly telling you forget about domain thing. Tax officers is not idiot, they know a domains true value and you will turn your legal earnings to illegal s**t. Dubai company preferably in IFZA. Just some ai development, marketing or some shitshow contract. Thats all. That contract doesnt even necessary for Dubai. its for your EU taxgang if they asks in the future

Last edited: Oct 17, 2024

MocCom said:

Selling crypto is not exactly the problem, more like having funds which I can use afterwards. If there's some way to make B2B transactions, ideally for the purchase of certain domain names, it might be an option.

Ditto.

MocCom said:

As many others I'm looking for cashing out (at least) some of my crypto funds, low 8-figures, non-taxable by german law (but now living in cyprus). Due to large gaps in the history as well as some mixer activity (only outgoing, not incoming) I'm having a hard time cashing out. The funds haven't really moved since late 2021.

Could you elaborate a bit more on what kind of gaps in history there're are present? No proper track of purchase/acquisition txes as far as I understand?

For the mixer part - does it affect all or most of your crypto portfolio?

MocCom said:

I've approached several crypto-friendly banks, only to be faced with questions I could not answer to their satisfaction and was therefore declined, and honestly I can't really blame them.

Unfortunately, even crypto-friendly banks are still banks, bound by the same AML regulations and furthermore banking laws. So yeah, they're of no help in your situation.

MocCom said:

Are there any ways to cash out at least 1-3 million without too much risk involved or any crypto friendly banks that welcome (very?) high risk clients?

Depends on your definition of suitable risk in that regard, since you're already as per your definition a high risk client.

Drop me a PM or line (should you wish to do so) and possibly we can work out a suitable solution.