CIM SWISS BANK and Cryptocurrency

[Punk92]

Hello,
3 quick questions please

1- Do CIM deal with cryptocurrency investor? and do they require a proof of wealth?
2- will I be taxed for capital gains?
3- your reviews on CIM in general

 

[James Turner]

CIM do not handle Crypto and do carry out due diligence on source of funds, generally on a transactional basis. Whether you will be taxed on Capital Gains requires a more in depth discussion and details about you, what you are doing, how you're doing it, your residential status etc. CIM in my experience are a good bank.

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[Punk92]

James Turner said:
CIM do not handle Crypto and do carry out due diligence on source of funds, generally on a transactional basis. Whether you will be taxed on Capital Gains requires a more in depth discussion and details about you, what you are doing, how you're doing it, your residential status etc. CIM in my experience are a good bank.
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Thanks,
But I don't need them to handle crypto. What I'm going to do is transfer my Crypto to USD in a well-known crypto exchange and then have my fiat money transferred to CIM. What worries me is that CIM will not accept the fiat transaction because it came from a crypto-exchange. Would that happen?

 

[James Turner]

That is definitely possible. Maybe run the transaction through an EMI first and then on to CIM.

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[Punk92]

James Turner said:
That is definitely possible. Maybe run the transaction through an EMI first and then on to CIM.
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Not so much into EMI, I'll just pour the whole thing in.
Sorry but how is tax related to my social, occupational, and financial life? I'm living in the Middle East. Why would they tax me on capital gains while 1/ the money was made outside of Switzerland and 2/ I'm not living in Europe

 

[Martin Everson]

Punk92 said:
1- Do CIM deal with cryptocurrency investor? and do they require a proof of wealth?
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They don't deal with crypto and they do require solid proof of wealth. CIM is a decent bank but not cheap.

Just use Bankfrick instead of CIM.

P.S You should have also mention where you reside in first post. Capital gains tax is quite common for most countries with taxation.

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

 

[Mark Rucken]

Anything related to Crypto is a big NO for CIM bank. If you have any connection to crypto avoid them. They are a pain in the a** during account opening process, but once you get IBAN, things go smoothly.

 

[Punk92]

Everyone is saying things that are not even remotely related.
guys please help me if you know what you are talking about and have solid experience in the bank

 

[JohnLocke]

Punk92 said:
Everyone is saying things that are not even remotely related.
guys please help me if you know what you are talking about and have solid experience in the bank
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It seems to me that you have to learn a lot before you go further with your plans! You may read the forum and use Google to search Offshorecorptalk.com for already available information, this may help you to understand it.

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[Martin Everson]

Punk92 said:
2- will I be taxed for capital gains?
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You ask this question and then later say:

Punk92 said:
I'm living in the Middle East. Why would they tax me on capital gains while 1/ the money was made outside of Switzerland and 2/ I'm not living in Europe
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I can conclude from this that you have zero understanding of capital gains taxes (and possibly taxation in general) and are trying to relate it to where money was earned and not living in Europe....lol 🙄.

Punk92 said:
Everyone is saying things that are not even remotely related.
guys please help me if you know what you are talking about and have solid experience in the bank
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I think you have a basic comprehension problem. CIM don't want no middle east crypto investor I can assure you....lol.

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

 

[Punk92]

Martin Everson said:
You ask this question and then later say:



I can conclude from this that you have zero understanding of capital gains taxes (and possibly taxation in general) and are trying to relate it to where money was earned and not living in Europe....lol 🙄.



I think you have a basic comprehension problem. CIM don't want no middle east crypto investor I can assure you....lol.
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lol, why so intense?
all I did was coming here looking for answers, and what I get is a judgmental punk a*s. if you are so against Middle East, what's with the MBS pic? yeah, it's your kind who wipe Middle Eastern's asses after they take a s**t.

 

[Martin Everson]

Punk92 said:
all I did was coming here looking for answers, and what I get is a judgmental punk a*s.
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Ok 🙄

Punk92 said:
if you are so against Middle East, what's with the MBS pic?
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You mean Mr Bone Saw aka MBS? Not sure why I chose a tyrannical smirking fat a*s incompetent dictator as a pic to be honest conf/(%. I guess the irony is lost on you.

Punk92 said:
yeah, it's your kind who wipe Middle Eastern's asses after they take a s**t.
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Please don't be so upset my brother. Look, I invite you to come to our consulate in Turkey for tea and biscuits. We discuss this further - let us not argue in public. Oh and use the backdoor on arrival my brother. I promise you I have onsite best toilet paper in all of Arabia to show you a*s wiping techniques.

Yours sincerely Mr Bone Saw aka MBS

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

 

[Punk92]

Martin Everson said:
Ok 🙄



You mean Mr Bone Saw aka MBS? Not sure why I chose a tyrannical smirking fat a*s incompetent dictator as a pic to be honest conf/(%. I guess the irony is lost on you.



Please don't be so upset my brother. Look, I invite you to come to our consulate in Turkey for tea and biscuits. We discuss this further - let us not argue in public. Oh and use the backdoor on arrival my brother. I promise you I have onsite best toilet paper in all of Arabia to show you a*s wiping techniques.

Yours sincerely Mr Bone Saw aka MBS
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What started out as a financial advice ended up as a political agenda.
So much for an offshore consultant, Farten.

 

[TurnedToRobot]

@Punk92 you need to point the finger on yourself and not blame others for the outcome of this thread. There are some valid answers here and you ignored them!

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[Martin Everson]

Punk92 said:
What started out as a financial advice ended up as a political agenda.
So much for an offshore consultant, Farten.
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In future don't bring up the middle east again as I didn't. Just ask your questions and if you don't like answers then move on thu&¤#.

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

 

[Verbatim]

Any update on CIM and crypto? would they accept crypto-derived funds to be deposited there?

 

[avalanche]

James Turner said:
CIM do not handle Crypto and do carry out due diligence on source of funds, generally on a transactional basis. Whether you will be taxed on Capital Gains requires a more in depth discussion and details about you, what you are doing, how you're doing it, your residential status etc. CIM in my experience are a good bank.
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Did anything change regarding CIM Banque not handling crypto? I'm wondering if its a good idea to receive withdrawals from Kraken on CIM account 😀

 

[Fred]

avalanche said:
Did anything change regarding CIM Banque not handling crypto? I'm wondering if its a good idea to receive withdrawals from Kraken on CIM account 😀
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Things changed but in the other direction.

CIM has meanwhile big pressure from correspondent banks and open lately personal accounts only - even when they claime otherwise.

Had some clients recently they got rejected from them with UK non-dom residence and UK Ltd but on they other hand I know in the same time they did onboard Tunisian national with Belarus residence - lol.

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[Jerry1911]

What is the minimum deposit with CIM nowadays? (for personal accounts)

 

[flyingadventures662]

avalanche said:
Did anything change regarding CIM Banque not handling crypto? I'm wondering if its a good idea to receive withdrawals from Kraken on CIM account 😀
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Sorry I am not sure I understand.

So they don't accept crypto related funds coming from crypto exchanges (or crypto sourced dividend)?