Crypto with no source of funds

esoteric

esoteric

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Sep 28, 2022
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Hey, i have €200k in cryptocurrency but providing a source of funds is not possible, no taxes paid on it eiter.

I am a European resident and i dont think relocating is worth it for these amounts.
My end goal is to have these funds in fiat in a personal bank account. As safe as possible.

How many options do i have in a situation like this?

Are there experienced people who can help with this setup in the safest way possible? Of course for a fee.
 
esoteric said:
esoteric said:
Hey, i have €200k in cryptocurrency but providing a source of funds is not possible, no taxes paid on it eiter.

I am a European resident and i dont think relocating is worth it for these amounts.
My end goal is to have these funds in fiat in a personal bank account. As safe as possible.

How many options do i have in a situation like this?

Are there experienced people who can help with this setup in the safest way possible? Of course for a fee.
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Which EU country are you based in?
 
esoteric said:
esoteric said:
The Netherlands.
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The Netherlands apply some sort of a wealth tax even on crypto holdings. So basically by owning the crypto ( if its in your name ) then you are already subject to tax. There is a system of presumed gains being applied which is progressive and grants an exemption up to a certain amount and thereafter progressively applies a fictional gain % upon which you are being taxed. This is calculated every year at pre announced rates. This is actually an absurd system as it assumes gains at all times. Hopefully its abolished soon. However for now it appears you have some taxes to pay on the crypto you hold. The good thing is that at the time of disposal you shouldnt be subject to tax. So your best bet would be to consult a Dutch tax professional to settle any taxes due before disposing of the crypto. Or if you want to keep it and it to remains tax free, then there might be other options available for planning.
The above are valid based on last time I have looked into it and so you should definitely get local confirmations for it.
 
CyprusLawyer101 said:
CyprusLawyer101 said:
The Netherlands apply some sort of a wealth tax even on crypto holdings. So basically by owning the crypto ( if its in your name ) then you are already subject to tax. There is a system of presumed gains being applied which is progressive and grants an exemption up to a certain amount and thereafter progressively applies a fictional gain % upon which you are being taxed. This is calculated every year at pre announced rates. This is actually an absurd system as it assumes gains at all times. Hopefully its abolished soon. However for now it appears you have some taxes to pay on the crypto you hold. The good thing is that at the time of disposal you shouldnt be subject to tax. So your best bet would be to consult a Dutch tax professional to settle any taxes due before disposing of the crypto. Or if you want to keep it and it to remains tax free, then there might be other options available for planning.
The above are valid based on last time I have looked into it and so you should definitely get local confirmations for it.
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Click to expand...
Thats the thing, the funds are not in my name. The wealth tax is not the issue, as it is 1,4% up to €1,000,000.
 
Who's name are they in to? or is it an anonymous wallet?

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Perfect, it's easy, just take some of the guys offering factoring services.

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Specialized in advisory service for tailor made Offshore setups with banking and payment processing. Privacy and Anonymity is my priority.
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