Advice for undeclared crypto

[Gamaranto]

Hi all,
I've been a crypto native for the last 4 years now and have accumulated a decent amount of capital, which I never declared to the taxman, this crypto has been obtained through investments or work done and even if it does not come from dirty activities like scamming, some of it is directly related to group investments and other gray activities.
I live in the EU and currently declare nothing, but I would like a way to clean my crypto stash and pay very little tax and all subsequent work and investments. My plan was as follows:
- Open a company in Italy under my regular name
- Open a US LLC and then hire myself/ my local company for the minimum I spend monthly
- Declare and pay taxes with the local company on this amount
- Keep all crypto in the US LLC (or some other entity) and hope there is no reporting

Ideally I'd like my Italian income to look completely separated from any form of crypto. Would this setup work? Can you suggest a better one?

 

[uplana]

You can find some hints and leads here
https://www.offshorecorptalk.com/th...y-”“-how-to-achieve-financial-anonymity.35215/
Beside that I would setup a UK or Cyprus Ltd with darks for this purpose. Open a krypto account for the company in the darks name. Setup a regular company in your name, open a kraken account for this company in your company name.

Get a lawyer to draft a contract between your local and the "darks company" ltd - so you invoice the darks Ltd get payment in crypto and can stash them in your own company for a very low tax.

This setup can be modelazied alot to fit your needs.

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[CyprusLaw]

Gamaranto said:
Hi all,
I've been a crypto native for the last 4 years now and have accumulated a decent amount of capital, which I never declared to the taxman, this crypto has been obtained through investments or work done and even if it does not come from dirty activities like scamming, some of it is directly related to group investments and other gray activities.
I live in the EU and currently declare nothing, but I would like a way to clean my crypto stash and pay very little tax and all subsequent work and investments. My plan was as follows:
- Open a company in Italy under my regular name
- Open a US LLC and then hire myself/ my local company for the minimum I spend monthly
- Declare and pay taxes with the local company on this amount
- Keep all crypto in the US LLC (or some other entity) and hope there is no reporting

Ideally I'd like my Italian income to look completely separated from any form of crypto. Would this setup work? Can you suggest a better one?
Click to expand...

Cyprus is a great option, a lot of people with crypto as SOF are setting up companies in Cyprus or investing in Cyprus and paying in crypto. Happy to discuss more.

 

[Gamaranto]

Why UK or Cyprus vs the US? As far as I understand both have CRS while the US does not

 

[clemens]

You can setup a complete anonymous company in both Cyprus and the UK . the mechanism of checking KYC is not fully developped in both countries, means there are huge loopholes at the moment. That make it easy to solve your problem.

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