Crypto cashout to bank without proof of funds

[thoferr13]

Hello guys,

I've made some cash and now have a nice stack of BTC/ XMR which I want to cash out slowly over the next few years.
With slowly I mean 2-8k per month for a few years. I am from germany and I already have signed up for an accountant and a one-man company recently.
Just a random "online marketing agency".

I can't disclose that I am holding crypto and that it can be associated with crypto of course. I can't tell this to anyone so I thought of making some kind of an online shop with stripe merchant account.
Then I'd buy darks and/ or some crypto friendly EMIs, load them up and subscribe for some subscription in my account.

I don't want to do any complex setups yet because I only need like 5k per month to pay the bills, pay the rent and to have some legit income. Without that kind of income in germany, I'd be getting fucked sooner or later for "not doing anything".


What do you guys think of my setup for the start? Also I am willing to pay taxes and don't want some heavy international over optimization when I only want to get 3-6k per month.

Also what kind of emis comes into your mind for this kind of operation?

 

[Martin Everson]

thoferr13 said:
Also I am willing to pay taxes and don't want some heavy international over optimization when I only want to get 3-6k per month.
Click to expand...

I take it the issue is with the source of the crypto?

Otherwise you could just declare it all and pay tax on the amount you convert to fiat each month.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[thoferr13]

Martin Everson said:
I take it the issue is with the source of the crypto?

Otherwise you could just declare it all and pay tax on the amount you convert to fiat each month.
Click to expand...

Yes the source of the crypto is a problem, so I need to go this route. I can never declare it.

 

[Sols]

thoferr13 said:
I can't disclose that I am holding crypto and that it can be associated with crypto of course.
Click to expand...

Why not?

thoferr13 said:
I can't tell this to anyone so I thought of making some kind of an online shop with stripe merchant account.
Then I'd buy darks and/ or some crypto friendly EMIs, load them up and subscribe for some subscription in my account.
Click to expand...

That's a lot of crimes to commit for such a modest sum of money. Understand that if this structure blows up, you've committed far worse than mere tax evasion or whatever the reason is you can't declare your crypto gains.

thoferr13 said:
What do you guys think of my setup for the start? Also I am willing to pay taxes and don't want some heavy international over optimization when I only want to get 3-6k per month.
Click to expand...

Can you relocate to Cyprus or Malta for a few years? Qualify as truly non-resident in Germany (sever your ties cleanly). Cash our your crypto, pay zero tax (legally), and then move back to Germany if you want. If the tax authority asks where your money came from, you can point to your tax returns that show you liquidated some assets.

Toggle signature
This is the probably the answer to your question.

 

[thoferr13]

Sols said:
Why not?


That's a lot of crimes to commit for such a modest sum of money. Understand that if this structure blows up, you've committed far worse than mere tax evasion or whatever the reason is you can't declare your crypto gains.


Can you relocate to Cyprus or Malta for a few years? Qualify as truly non-resident in Germany (sever your ties cleanly). Cash our your crypto, pay zero tax (legally), and then move back to Germany if you want. If the tax authority asks where your money came from, you can point to your tax returns that show you liquidated some assets.
Click to expand...

Because it is just no clean crypto, I can not disclose how I got it due to opsec.
Sadly relocate is not possible the next few years.

I can't cash out any crypto, simple as that. I really don't know what to do.
How this kind of structe even can blow up? I'm using only the most cleanest darks. I have a very unique source for darks which no one else has.
What are the weak points of my structure?

I really don't know which direction to go.

Last edited: Mar 25, 2021

 

[fanban]

darks have no function in this setup, it's not about the darks I want to say.

you look at a company that can do invoicing for you but the costs is 10% and even more with most of the operators of such services. they send you an invoice, you pay in crypto after that you send an invoice and get cash on your bank account.

Very simple and at least not complicated.

 

[troubled soul]

I post some method in below
post

https://www.offshorecorptalk.com/threads/list-of-method-to-spend-bitcoin-without-trace.32478/
Hope this help

 

[CaptK]

If tax is not an issue then an offshore structures would work which you declare.
Somewhere more Crypto friendly like a branch office in UAE, Malta, Cyprus or Switzerland. An LLP or LLC could also work for this. Physically trading your crypto through various Alt coins and then settling in a stable and or fiat.

You then bring the money back and declare. You have a trading statement showing your gains and losses and there is your profit.

Last edited: Mar 25, 2021

 

[thoferr13]

fanban said:
darks have no function in this setup, it's not about the darks I want to say.

you look at a company that can do invoicing for you but the costs is 10% and even more with most of the operators of such services. they send you an invoice, you pay in crypto after that you send an invoice and get cash on your bank account.

Very simple and at least not complicated.
Click to expand...

The problem with this kind of stuff is, do I can trust the counterpart? What if he gets busted for low opsec? He is laundering money and I am his customer who will be the main target for law enforcement because no one will be paying 10% when it is all legit.

I thought about darks and dark bank accounts because I have the control over it, I can decide from where I got the documents to open the EMI therefore I'm the only one responsible for my own safety.
What about just one revolut with three or four ccs attached? They offer unlimited cards?
I can use whatever I want as name on the card.

azb1 said:
I post some method in below
post

https://www.offshorecorptalk.com/threads/list-of-method-to-spend-bitcoin-without-trace.32478/
Hope this help
Click to expand...

Thank you I will look into it. I have looked into it and nothing comes close to what I want to achieve, I want to make a company/ structure something like that which I can show to authorities and/ or banks if I want a loan later on for example. I could get any amount of crypto to hard fiat cash for nearly 1-3% that is not the problem here. But with cash I can not buy properties stocks or anything, cash I can only use for small daily purchases and consumer goods which I already do.

CaptK said:
If tax is not an issue then an offshore structures would work which you declare.
Somewhere more Crypto friendly like a branch office in UAE, Malta, Cyprus or Switzerland. An LLP or LLC could also work for this. Physically trading your crypto through various Alt coins and then settling in a stable and or fiat.

You then bring the money back and declare. You have a trading statement showing your gains and losses and there is your profit.
Click to expand...

This sounds quite great, but wouldn't the bank ask me how I've gotten the crypto in the first place? I'm depositing 10 XMR for example in Binance per month, do same trades, cash out and keep record of what I am doing. Save anything for authorities to show them later on.

They see I have deposited 10 XMR per month and ask questions.

I'm literally completely out of any income in germany, I am a student and therefore I can't just open an LLC or similiar in another country, atleast I think so?

Last edited: Mar 25, 2021

 

[LondonOTC]

What we do with dark coins is to exchange it for clean coins from miners in China and Russia that they doesnt care how dirty the coins are. They charge a fee, but better this way than using CoinJoiners that one day can be reversed.

Their coins have very few transactions and it's easy to justify as coming from mining operations.

 

[CaptK]

thoferr13 said:
The problem with this kind of stuff is, do I can trust the counterpart? What if he gets busted for low opsec? He is laundering money and I am his customer who will be the main target for law enforcement because no one will be paying 10% when it is all legit.

I thought about darks and dark bank accounts because I have the control over it, I can decide from where I got the documents to open the EMI therefore I'm the only one responsible for my own safety.
What about just one revolut with three or four ccs attached? They offer unlimited cards?
I can use whatever I want as name on the card.



Thank you I will look into it. I have looked into it and nothing comes close to what I want to achieve, I want to make a company/ structure something like that which I can show to authorities and/ or banks if I want a loan later on for example. I could get any amount of crypto to hard fiat cash for nearly 1-3% that is not the problem here. But with cash I can not buy properties stocks or anything, cash I can only use for small daily purchases and consumer goods which I already do.



This sounds quite great, but wouldn't the bank ask me how I've gotten the crypto in the first place? I'm depositing 10 XMR for example in Binance per month, do same trades, cash out and keep record of what I am doing. Save anything for authorities to show them later on.

They see I have deposited 10 XMR per month and ask questions.

I'm literally completely out of any income in germany, I am a student and therefore I can't just open an LLC or similiar in another country, atleast I think so?
Click to expand...

You can tell the bank you build exchanges and NFT's and you are paid for that. Or if the payment is coming from an exchange use one like Etoro and say you trade forex.