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At wich sum does it become a problem if there is no wire to exchange or invoice document? If you got paid for freelance work for example, mid 4 figures. Happened to me in the early days, portfolio grew with these funds and additional EUR to exchange wires. To this day I'm scared if I ever run...

How long until you run into problems in Portugal when there is no substance in Cyprus? Simply moving to Cyprus fixes a lot of problems. thu&¤#

The whole "move to portugal to live tax free" thing has gone viral in the crypto space in recent weeks. But the benefits have been overestimated and some new service providers or resellers for NHR applications are guilty of that. Some seem to even recommend to use a foreign entity to claim tax...

You mention Fidor, so I assume you are considering moving from Germany to Cyprus - great choice. Here is the problem, you current gains might be tax-free already in germany, if held for more than a year without staking and so on (if not, it should be 25% flat tax). Now, if you move to cyprus...

Step 3 - CY bank might ask for source of funds documents, saying it's savings might not be enough Tax implications - up to 35% income tax on the cash out Althought you could think the cash out is realizing capital gains (there is no tax on capital gains in cyprus), lack of crypto regulation is...

Crazy to think about it. Reminds me of communist east-germany you could not leave. But the minds of a lot of current politicans have been shaped there. So I'm not surprised. :confused:

You could move to cyprus and do the algo trading within a LTD with 12.5% tax. Althought crypto regulation isn't a thing here (trading private would be up to 35% income tax), once your LTD got banking, it's a very good setup. Regarding exit-tax please check this article - from my understanding...

Exactly, avoid cyprus with unrealized crypto gains. You will pay up to 35% income tax on realization (because CGT does not apply and crypto is not exempt like stocks etc).

If you live in a tax-friendly jurisdiction, you could simply keep profits in companys (maybe a US LLC for personal expenses) I guess. Also, rich germans residing in neighbour countries but with substance in germany will have a foundation or a GmbH + holding GmbH ("vermögensverwaltende GmbH") in...

I'm in the same position. I think the only 2 options are moving with the unrealized gains or paying the full income tax. I wouldn't trust the government that the income tax would be refunded in case they rule cryptos are excempt like securities. Every cyprus accountant is vague and comes with...

Always the same cyprus advice - what is the reason to pay up to 35% income tax on capital gains in cyprus (because regulation is unclear) while in the UK he would pay 10-20%? More tax, more risk! ns2

You need to check if you got a "nexus" in the US - storing inventory there or dropshippig from a US warehouse could trigger it. Also there seems to be a eceonomic nexus, compareable with VAT thresholds. https://blog.taxjar.com/sales-tax-nexus-definitionhttps://blog.taxjar.com/economic-nexus-laws

I don't want to hijack this thread to rant about this approach again. But it makes NO sense that you arrive with assets in cyprus, i.e. 100,000€ and 2 BTC, and the profits once you sell these BTC (which were bought with taxed money and all taxes on gains are paid upon relocation, 0% with the...

The "Wegzugsbesteuerung" was to be extended in 2020, to apply not only to company shares but also unrealized gains of assets (in the past there was a "Stundung", so no tax, if you moved to EU/EEA). https://www.cmshs-bloggt.de/steuerr...-wegzugsbesteuerung-im-atad-umsetzungsgesetz/Check this...

Really bad if that's the case. "Captial gains" on crypto in cyprus would be among the highest WORLDWIDE. So it's literally the worst developed nation to live in if you invest in crypto without a company. https://taxsummaries.pwc.com/quick-charts/capital-gains-tax-cgt-rates

I appreciate the insights but you are referring to business income within a company. I was talking about private individuals that own cryptos, the same way they could own stocks which they would sell with a profit. In a investment perspective - holding them at least 6 months or even years, not...

Is there a way to confirm that a capital gains tax for private individuals is not enforced / existing? With the exception of real estate in Cyprus. I went back and forth with accountants but also in this forum, trying to find an answer - most of the discussions were about the rules within the...

Hi CyprusLaw, will that change / clarifiy the handling of personal captial gains tax for crypto too? I think this is important for crypto traders and holders when considering moving to cyprus. It's very unclear if you would pay 20% capital gains tax as a non-dom, on multi-year longterm crypto...

I don't know about the US stuff, but isn't there a territorial tax system in the Dominican Republic? If so, I assume you could use a UK or CA LLP, a UAE setup, whatever and get the money out of it at 0% tax? Meanwhile you would pay 20% tax in Estonia (taxed on dividend cashout). ns2

Yes - you can't predict the crypto market and I would assume, there is a chance you would rather sell and pay tax than hold. It was just a "bonus" information, to understand how germany works. Losses and tax in this case. :) And like I said, you need to pay 25% on outstanding gains if you want...