How to cash out crypto money ?

[Unpetit10K]

Hi I read several threads in here about how to cash out crypto money and avoid the insane tax of my country but couldn't find a full and accurate answer.

Its no dirty money its only crypto gains that I legally earned, but in my country, France, we have the highest taxes of the Western Countries. They can take up to 63% of my gains and its not gonna happen bois.

I read that Cyprus non resident company would be the best, but do I need Nominees? a bank account at my name ?Where do I open the bank account ? Which offshore company provider would you recommend to set up the cyprus company ?

And how to bring back the funds in my country ?
Thanks a lot

 

[Juoffshore]

Hello,

It depending on how much are you talking about? If you talk about 10K , the best way is to use Advanced cash for example.

 

[JohnLocke]

Use AdvCash or MisterTango both will work just fine for this purpose! If you are not in a hurry you may wait and see what providers will pop up with a new card program any time soon. Maybe some of them will be able to allow anonymous accounts again 😉

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[Unpetit10K]

Thanks a lot guys i'll dig into MisterTango option

 

[countryfree]

MisterTango is a European company. I don't see it as a safe way to hide money from the taxman of another European company.

 

[offtopic]

For quick cash out, I would look at localbitcoins if I were you...

 

[JohnLocke]

countryfree said:
hide money from the taxman of another European company.
Click to expand...

true, I didn't took into consideration that there was a question about privacy here but simply the question how to get money out! If privacy matters I would, as already suggested here, use AdvCash or similar EMI's and maybe even have a look at the Mentor Group and what they have suggested there!

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[void]

Unpetit10K said:
And how to bring back the funds in my country ?
Click to expand...

Maybe I'm missing something but this is the key point.
You either want to cash out like 10k in BTC to cash and then spend as cash. This is easy.
If we are talking say 100k or much more in BTC, you can either hold it cash (it's hard, but doable) or you will bring it to your French bank account and you will be inevitably asked about the source... game over.

 

[lostman]

don't you think the french bank will ask a lot of questions?

I would be interested in a solution that can exchange say 100K btc to USD or EUR with some sort of privacy. If it is possible to avoid verification it would be 100% optimal!

 

[uplana]

void said:
You either want to cash out like 10k in BTC to cash and then spend as cash. This is easy.
Click to expand...

it's easy but who want's to have 10K in his pockets it's way safer to have a debit card loaded with your money!

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[void]

uplana said:
it's easy but who want's to have 10K in his pockets it's way safer to have a debit card loaded with your money!
Click to expand...

if you're afraid of thieves or losing the cash on the street than yes, it's a bit safer
but for some people safety means something different... depends on what/who you are afraid of

 

[Aleksandr Prilepa]

I've exchanged ~$50k into cash on localbtc multiple times without anyone asking for an ID. This was in EU a few years ago. Alternatively you can just scale it out to multiple exchanges rather than doing it in one go or like someone above mentioned - wait until the new crypto cards are out.

 

[Spinat]

it's ot possible to cashout such amounts without providing ID, or does someone know more than I do ?

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[Aleksandr Prilepa]

Depends on the exchanger. You can just split it up into multiple transactions as well.

 

[extremedox101]

if the banks in your country ask it's not good idea to have wire . but some of the above posts are good , crypto cards or maybe lbc? but for me i don't prefer trading/p2p at all.

 

[JohnLocke]

Aleksandr Prilepa said:
Depends on the exchanger. You can just split it up into multiple transactions as well.
Click to expand...

That must be many transactions or do you know what each amount can be ?

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[uplana]

void said:
if you're afraid of thieves or losing the cash on the street than yes, it's a bit safer
but for some people safety means something different... depends on what/who you are afraid of
Click to expand...

what would that mean for instant?

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[Aleksandr Prilepa]

Admin said:
That must be many transactions or do you know what each amount can be ?
Click to expand...

I did 30-40k EUR btc to cash transactions a few years ago on localbtc. The guy didn't ask me for any ID. We just met near a bank, I got some of the bills double-checked to make sure they weren't fake and then we did the deal. Of course this carries some risks, eg. you might get robbed. Easier to just order a bunch of crypto cards these days and withdraw funds daily.

 

[Vanity]

I would go with LocalBitcoins all the way.
If privacy isn't much of a concern to you (which doesn't seem to be), then you can aswell go with mentioned card or BA providers.

 

[moneymaster]

Unpetit10K said:
I read that Cyprus non resident company would be the best, but do I need Nominees? a bank account at my name ?Where do I open the bank account ? Which offshore company provider would you recommend to set up the cyprus company ?
Click to expand...

I have used offshorecorpgroup.com for all my setups. In your case you need to setup a non resident Cyprus company with foreign nominees, that's what you want.