Question Spaniard - Crypto - Exit strategy - 7 figures (Part 2)

[FreeBit]

Brutus said:
Can you please elaborate on this as I am also looking into the UAE solution.

Have you already talked with Fred and CaptK? Do they not seem trustworthy to you?
Click to expand...

Not trustworthy.
Fred claims to be a cryptomillionaire but he's 24/7 on this forum trying to get some people to dubai just to help.
No millionaire does that. CaptK does not want to live in dubai neither
They're set up cost is the best. Their fee is probably when you sell and the dubai millionaire costs you 10% fee. 5% for them.
There are better cost/benefit/risk options IMO

 

[CaptK]

FreeBit said:
Not trustworthy.
Fred claims to be a cryptomillionaire but he's 24/7 on this forum trying to get some people to dubai just to help.
No millionaire does that. CaptK does not want to live in dubai neither
They're set up cost is the best. Their fee is probably when you sell and the dubai millionaire costs you 10% fee. 5% for them.
There are better cost/benefit/risk options IMO
Click to expand...

For personal reasons I can not live in the UAE but I am there at least once a month, COVID dependant. There are a few members I have serviced in and out of the UAE as I have an office there.

 

[Mercury]

FreeBit said:
Not trustworthy.
Fred claims to be a cryptomillionaire but he's 24/7 on this forum trying to get some people to dubai just to help.
No millionaire does that. CaptK does not want to live in dubai neither
They're set up cost is the best. Their fee is probably when you sell and the dubai millionaire costs you 10% fee. 5% for them.
There are better cost/benefit/risk options IMO
Click to expand...

What you write is concerning, because Fred mentioned about 1% total cash out fees .....?

Indeed, it would be great to get some real total costs feedback from people who have already cashed out significant amounts using DLS Dubai solution.

@FreeBit Would you mind listing the better cost/benefit/risk options?

 

[carz]

FreeBit said:
Not trustworthy.
Fred claims to be a cryptomillionaire but he's 24/7 on this forum trying to get some people to dubai just to help.
No millionaire does that. CaptK does not want to live in dubai neither
They're set up cost is the best. Their fee is probably when you sell and the dubai millionaire costs you 10% fee. 5% for them.
There are better cost/benefit/risk options IMO
Click to expand...

What are better benefit/risk options, in your opinion?

 

[uplana]

FreeBit said:
Not trustworthy.
Fred claims to be a cryptomillionaire but he's 24/7 on this forum trying to get some people to dubai just to help.
No millionaire does that. CaptK does not want to live in dubai neither
They're set up cost is the best. Their fee is probably when you sell and the dubai millionaire costs you 10% fee. 5% for them.
There are better cost/benefit/risk options IMO
Click to expand...

Your post makes no sense, you claim they are wrong but you don't argue which alternatives there are?

Toggle signature
Find help to the ultimate anonymous setup on OffshoreCorpTalk - Tried, Tested & Works
Need help to get things done, ping me inside the Mentor Group Gold forums.

 

[polonieth]

uplana said:
Your post makes no sense, you claim they are wrong but you don't argue which alternatives there are?
Click to expand...

The part that does make sense is why would a self-proclaimed crypto millionaire want to handhold noobs on this forum? That is a pretty good question.

 

[uplana]

polonieth said:
The part that does make sense is why would a self-proclaimed crypto millionaire want to handhold noobs on this forum? That is a pretty good question.
Click to expand...

Well even a crypto millionaire need something to do!

Where did you get this "self-proclaimed" crypto millionaire from, did he told you that?

Toggle signature
Find help to the ultimate anonymous setup on OffshoreCorpTalk - Tried, Tested & Works
Need help to get things done, ping me inside the Mentor Group Gold forums.

 

[carz]

I think the main sticking point for some ppl is cashing out crypto through a company with invoices not related to crypto, which I 100% understand. This is especially true if your coins are legal and clean; and you come from a high tax/anal home country - people rightful say "why add a risk factor which isn't needed?". The pertinent question here is: can you cash out crypto in dubai legally without this masking? You're at the mercy of the banks I feel.

Whether fred or whoever is a crypto millionaire or not is irrelevant. I don't know anyone, and will not defend anyone, but some of the most successful people in the space are still hustling like they're on food stamps.

 

[troubled soul]

carz said:
I think the main sticking point for some ppl is cashing out crypto through a company with invoices not related to crypto, which I 100% understand. This is especially true if your coins are legal and clean; and you come from a high tax/anal home country - people rightful say "why add a risk factor which isn't needed?". The pertinent question here is: can you cash out crypto in dubai legally without this masking? You're at the mercy of the banks I feel.

Whether fred or whoever is a crypto millionaire or not is irrelevant. I don't know anyone, and will not defend anyone, but some of the most successful people in the space are still hustling like they're on food stamps.
Click to expand...

Valid Point.
If government or authority come after you they can easily find out that Invoices are fake. You will lost sleep at night . For small amount I think nobody cares. for high amount You can easily caught.


I started New Thread for this legally earn bitcoin (Crypto) cashout method without any setup in Dubai or any other juridication

 

[olegek82]

In Spain have crypto friendly bank ? pay tax in Spain for me no problem

to FreeBit From 2022, it is necessary to declare all cryptocurrency in 720 declarations​

Last edited: Jun 11, 2021

 

[JosephLL]

Mercury said:
What you write is concerning, because Fred mentioned about 1% total cash out fees .....?

Indeed, it would be great to get some real total costs feedback from people who have already cashed out significant amounts using DLS Dubai solution.

@FreeBit Would you mind listing the better cost/benefit/risk options?
Click to expand...

@Mercury, can you point to the post (here or elsewhere in forum) where @Fred said that?

I too agree that Fred's millionaire status is not the topic here. I also understand him, out of care for already served clients, not being willing to disclose his proprietary technique for the key crypto-to-fiat contact surface. However, as an almost certain customer in near future, I do think there were 2 valid points raised here where we deserve more transparency in advance:

1 - Estimate of the total cost of the cashout. Mainly estimation of btc-to-fiat exchange rate as it is the deciding factor.

2 - aml/tf risks of the simulated business activity. He needs to find the right balance to assure everyone without uncovering&harming his own service model. I'm willing to pay for a well thought service but don't want my e-commerce shop to sell , let me paint this bluntly, a truck liad of usb sticks to Iranian mulah, for example.

 

[CaptK]

JosephLL said:
@Mercury, can you point to the post (here or elsewhere in forum) where @Fred said that?

I too agree that Fred's millionaire status is not the topic here. I also understand him, out of care for already served clients, not being willing to disclose his proprietary technique for the key crypto-to-fiat contact surface. However, as an almost certain customer in near future, I do think there were 2 valid points raised here where we deserve more transparency in advance:

1 - Estimate of the total cost of the cashout. Mainly estimation of btc-to-fiat exchange rate as it is the deciding factor.

2 - aml/tf risks of the simulated business activity. He needs to find the right balance to assure everyone without uncovering&harming his own service model. I'm willing to pay for a well thought service but don't want my e-commerce shop to sell , let me paint this bluntly, a truck liad of usb sticks to Iranian mulah, for example.
Click to expand...

The biggest issue is the credibility of your buyer. If your buyer is not established and you receive a payment from them, you will have problems.
Your buyer can tell his bank he is buying coin but your bank will accept it then give you greif.
The BUYER is the key!!!!

 

[Fred]

What we recommend has nothing to do with P2P or OTC.

You simply stick to an Exchange that isn't flagged as something Crypto related by the local UAE banks - so in the case of our clients they sell it to on an exchange.

That's it - no magic or 3rd parties involved.

Toggle signature

 

[Mercury]

Fred said:
No, it's physical cash only.

The OTC desks charging by far more for Wire Transfer that's why we use other routes in case of Wire Transfer for just 1%.
Click to expand...

@JosephLL check here

 

[alphadesertfox]

@FreeBit I've just joined this forum and found this thread interesting. I'm from Dubai and my 2 cents on this would be to find a Private Bank in the UAE that will accept cash. You can then do an OTC trade, Bitcoin for USD or AED cash. You can hire a conference room in the Burj Khalifa where there's lots of security cameras and do the transaction there. Dubai is the safest place in the world to do this and lots of OTC trades like this happen. I've done many myself but in the tens of thousands, not the millions that you are looking to do. And then you can deposit your cash to the Private Bank.

I think it's definitely worth speaking to a Private Bank as they may be able to help you find a solution. Maybe you sell them some of your bitcoin and you deposit your use funds with them and they give you an unlimited credit card limit that you pay off each month from the UAE so that you don't have to sell all of your bitcoin and you wouldn't be making any income so you wouldn't need to pay any income tax.

And congrats on making so much with your bitcoin!

 

[Jolk]

hey @FreeBit, did you finally take any step forward?
I'm exactly in the same situation, willing to leave spain (but probably not to Dubai lol) or creating the offshore structure to move crypto funds (lots of doubts here regarding the economic substance, CFC & CRS rules..)
Just wondering, did you even considered portugal (willing to work for a while there though)?
If you could pm with your latest insight I'd appreciate it 😉

 

[GreenCard]

Jolk said:
hey @FreeBit, did you finally take any step forward?
I'm exactly in the same situation, willing to leave spain (but probably not to Dubai lol) or creating the offshore structure to move crypto funds (lots of doubts here regarding the economic substance, CFC & CRS rules..)
Just wondering, did you even considered portugal (willing to work for a while there though)?
If you could pm with your latest insight I'd appreciate it 😉
Click to expand...

Hi, im from Spain too, i found some info about Cyprus, Andorra, etc , Do you wanna share? Un saludo

 

[Jolk]

GreenCard said:
Hi, im from Spain too, i found some info about Cyprus, Andorra, etc , Do you wanna share? Un saludo
Click to expand...

Hi! I'm exploring Portugal & cyprus for now, looked into Estonia & UAE but are not for me at the moment.
Is there any setup that convinces you?

 

[zbio]

FreeBit said:
Not trustworthy.
Fred claims to be a cryptomillionaire but he's 24/7 on this forum trying to get some people to dubai just to help.
No millionaire does that. CaptK does not want to live in dubai neither
They're set up cost is the best. Their fee is probably when you sell and the dubai millionaire costs you 10% fee. 5% for them.
There are better cost/benefit/risk options IMO
Click to expand...

@FreeBit Did you finally go for UAE?

 

[TheCryptoAnt]

Every crypto spaniard wants to leave Spain it seems.

Have you guys considered Greece? 15% is not ideal but better than Spain.