Hi guys,
First of all love the forum, lots of good info here. Seems to be a few very knowledgable people. I'm not one to be spoon fed, have done plenty of research before landing here and have read through most threads on here now also. I thought I'd ask for some peoples opinions on a hypothetical situation and also give a piece of knowledge that maybe people aren't aware of yet.
The tip:
- In australia, personal bank accounts can be opened completely online, as long as using real fresh australian darks, debit sent to an australian address. I have many accounts already (30+), haven't put big money through them (5-50k) but have not had a single one closed down, had many for over 2yrs at this stage. I've sent international wires with no issues, occasionally on a larger one it still went through but they froze the account after in case it was a fraudulent transfer, unlocked with a simple phone call. No need to explain my source of funds/just had to confirm that it was intentional. And this application process is the case for virtually all the big banks here.
And onto the hypothetical situation:
- Large amount of funds in crypto, want to move it into the financial system to be able to purchase large things/invest in property etc.
- No proof of source for the original investment into crypto, very obscure history - mixed coins, destroyed old wallets etc. Was a real believer in crypto taking over and didn't want anyone knowing my worth, especially not government.
- Australian citizen and resident currently.
- Want to minimize tax of course.
- Wouldn't mind paying a reasonable amount of tax if it's a nice legit method (15-20%) but don't want to give half of it away.
At this stage my research has led me to believe anonymity with offshore accounts is not possible, and even if it is it will be very short lived. The methods taken, am not bothered by legality, but must be done in a way that won't bite me as more and more info is exchanged. Darks/real nominees etc can all be achieved.
My current thoughts/ideas;
(1)
- Purchase gold with crypto directly.
- Sell gold for bank transfer.
- Transfer these funds directly to a property seller/lawyer escrow account.
OR
- Setup offshore bank acct using darks + a lawyer POA in Georgia, to receive the funds and then send them to the property seller if the above would not go through.
- Property is put in a company name or perhaps personal, in a country where property owners are not reported/publicly searchable.
(2)
- Cashout crypto into physical cash in a country where cash is still acceptable to use to buy property.
- Same as above for property ownership.
(3)
- Potentially idea (1) using a company account in Georgia, and that company 'loans' the money to me in Aus as a 'mortgage' on a property here. Would make loan repayments back to this company to make it look more legit.
Lets say there is a workable solution in there to purchase property offshore. How would one then in time bring that property or the funds from it into the fold so to speak, to be sold and invested in things closer to home as part of a personally tied portfolio. Or would these funds be essentially stuck in no mans land? As the goal by the end would be to have these funds under personal name and everything above board going forward (even if it takes 10yrs to acheive).
🙂
First of all love the forum, lots of good info here. Seems to be a few very knowledgable people. I'm not one to be spoon fed, have done plenty of research before landing here and have read through most threads on here now also. I thought I'd ask for some peoples opinions on a hypothetical situation and also give a piece of knowledge that maybe people aren't aware of yet.
The tip:
- In australia, personal bank accounts can be opened completely online, as long as using real fresh australian darks, debit sent to an australian address. I have many accounts already (30+), haven't put big money through them (5-50k) but have not had a single one closed down, had many for over 2yrs at this stage. I've sent international wires with no issues, occasionally on a larger one it still went through but they froze the account after in case it was a fraudulent transfer, unlocked with a simple phone call. No need to explain my source of funds/just had to confirm that it was intentional. And this application process is the case for virtually all the big banks here.
And onto the hypothetical situation:
- Large amount of funds in crypto, want to move it into the financial system to be able to purchase large things/invest in property etc.
- No proof of source for the original investment into crypto, very obscure history - mixed coins, destroyed old wallets etc. Was a real believer in crypto taking over and didn't want anyone knowing my worth, especially not government.
- Australian citizen and resident currently.
- Want to minimize tax of course.
- Wouldn't mind paying a reasonable amount of tax if it's a nice legit method (15-20%) but don't want to give half of it away.
At this stage my research has led me to believe anonymity with offshore accounts is not possible, and even if it is it will be very short lived. The methods taken, am not bothered by legality, but must be done in a way that won't bite me as more and more info is exchanged. Darks/real nominees etc can all be achieved.
My current thoughts/ideas;
(1)
- Purchase gold with crypto directly.
- Sell gold for bank transfer.
- Transfer these funds directly to a property seller/lawyer escrow account.
OR
- Setup offshore bank acct using darks + a lawyer POA in Georgia, to receive the funds and then send them to the property seller if the above would not go through.
- Property is put in a company name or perhaps personal, in a country where property owners are not reported/publicly searchable.
(2)
- Cashout crypto into physical cash in a country where cash is still acceptable to use to buy property.
- Same as above for property ownership.
(3)
- Potentially idea (1) using a company account in Georgia, and that company 'loans' the money to me in Aus as a 'mortgage' on a property here. Would make loan repayments back to this company to make it look more legit.
Lets say there is a workable solution in there to purchase property offshore. How would one then in time bring that property or the funds from it into the fold so to speak, to be sold and invested in things closer to home as part of a personally tied portfolio. Or would these funds be essentially stuck in no mans land? As the goal by the end would be to have these funds under personal name and everything above board going forward (even if it takes 10yrs to acheive).
🙂