Recent content by JoeBlow
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J
Cyprus crypto EUR cash out?
Hey Willblack thanks for the reply. Can you be more specific as to what laws this is breaking. Its just like a BlockFi, Nexo or Celsius. And ABC Co could also be a Trust maybe? Just trying to think outside of the box.- JoeBlow
- Post #35
- Forum: Cyprus Bank Accounts
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J
Cyprus crypto EUR cash out?
Is the below possible in Cyprus? 1 - Set up a Cyprus company (ABC Co.) and loan your crypto to ABC Co. at market interest rates. 2- Then borrow from (ABC Co) also at market interest rates deferring the interest payments. In theory this would reduce ABC Co's income and thus the tax burden when...- JoeBlow
- Post #33
- Forum: Cyprus Bank Accounts
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J
Cyprus crypto EUR cash out?
no not found a solution. having spoken to some accountants/lawyers in CY there really isn't a consensus. most are pushing the corp 12.5% tax route more as a conservative option. i think i need to put boots on the ground in CY to find the best decision. the other thing is that if CY wants to be...- JoeBlow
- Post #29
- Forum: Cyprus Bank Accounts
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J
Cyprus crypto EUR cash out?
So there will be no Cap Gains on crypto? Now I am confused. Are you saying that crypto will be taxed at normal income rates and not on cap gains rates?- JoeBlow
- Post #19
- Forum: Cyprus Bank Accounts
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J
Cyprus crypto EUR cash out?
I still don't understand why there is a potential tax implication. At least today. I think the remaining 2 accountants are too conservative. The law might change tomorrow but today given the lack of a law governing how Cyprus views BTC , for example, as either currency or property it stands to...- JoeBlow
- Post #17
- Forum: Cyprus Bank Accounts
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J
Cyprus crypto EUR cash out?
I don't understand - did I do sth wrong?- JoeBlow
- Post #15
- Forum: Cyprus Bank Accounts
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J
Cyprus crypto EUR cash out?
These are all great responses. Thx everyone. No I am not from Germany, EU citizen currently but not even living in EU today (no not in US either ;)) I was also looking into opening a fund in Cyprus as a way to potentially get the most favorable tax rates. I haven't gone deep into this but if...- JoeBlow
- Post #12
- Forum: Cyprus Bank Accounts
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J
Cyprus crypto EUR cash out?
I see. I remember hearing somewhere that the new regulation should come in at 5 to 10% only. Have you heard the same?- JoeBlow
- Post #9
- Forum: Cyprus Bank Accounts
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J
Cyprus crypto EUR cash out?
Why 35%. Is this the rate for trading activity cap gain? Also what if you are a resident of Cyprus and sell before any relevant law comes into play? (assuming they don't do a claw back to date past)- JoeBlow
- Post #7
- Forum: Cyprus Bank Accounts
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J
Cyprus crypto EUR cash out?
Lets says €100-200k per month for several months. No need to cash out in a lump-sum.- JoeBlow
- Post #5
- Forum: Cyprus Bank Accounts
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J
Cyprus crypto EUR cash out?
What am I missing here with the following potential crypto sale? (assume Cyprus residency) Step 1 - Sell crypto on Kraken Step 2 - Send EURs from Kraken to German Fidor Bank (individual account). Step 3 - Forward at your leisure from Fidor Bank to established Cyprus Bank account - funds...- JoeBlow
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- Replies: 50
- Forum: Cyprus Bank Accounts