OVZA
New Horizons Paraguay
Ticker tape by TradingView

Cash out profits from an offshore company in a zero income tax country?

Status
Not open for further replies.
Yes its a pain in the a*s. I bank⁣ with several Swiss banks for decades. One of the banks I used has to get⁢ approval from a director level person within the bank for signoff for any outgoing payment︀ more than 1m chf. Oh and absolutely anything can alert their suspicion and put your︁ account under compliance review.
 
yeap, I got your point and is very valid...

with my comment⁤ you may be exchanging the problems with banks to the problems with logistics and shipping,⁣ it depends on your connections, knowledge, etc....

this is one way of multiple choices that⁢ some corrupted politicians steal money in Latin America, they convert it into gold and ship︀ it in private rented airplanes to the destination "hidden", they may also need to bribe︁ people in customs in both sides.
Just put attention on how many Venezuelan families owns︂ real state in some of the richest areas of Spain and they sell it after︃ 1 or more years.
 
Thank you all very much.

I think I can't sleep well if I use the‌ Belize because maybe it will work but maybe my Bitcoins are "blacklisted" in some years‍ and then my tax to pay is 100% or I can only spend the Bitcoins⁠ in countries nobody wants to live, but probably not even there, because nobody wants Bitcoins⁤ there. And I think governments will not stop until they can control where and if⁣ I buy a can of coke anywhere. So with crap like AML5 for example it's⁢ even difficult to proof the source of Bitcoins when you bought them legally.

Look for︀ example here:
https://support.bitpanda.com/hc/en-...s-and-what-requirements-and-limits-are-there-

I just hope that︆ other exchanges will not ask for this. Otherwise a lot of people can't use their︇ Bitcoins anymore. How can anyone proof this if you bought your coins on exchanges that︈ don't exist anymore or if you deleted your accounts for example. I think you can't.︉

So sadly I will pay 12,5% to the government for locking me up and to︊ force a vaccination on me.
 
At least until now it‌ is even possible to trade completely without any verification, even without any withdrawal limits at‍ Bybit for example.

So let's hope the EU falls apart before they forced all exchanges⁠ to do this. Furthermore, decentralized exchanges are becoming more popular.

Probably yes...
 
Seems we misunderstood each other. Probably my wording "cash out"‍ was bad.

My issue is just to get the Bitcoins (legally) from the "company wallet"⁠ to my "private wallet". I am not interested in conversation to fiat.
 
Ok understood. But in that case its just a case of liquidating the company to⁠ get assets into your name when eventually you are in a zero income tax country.⁤
 
After you have the bitcoin in your name, find a way to buy gold or‌ whatever else using bitcoin and then sell it for FIAT, now buy back crypto with‍ FIAT and then you have all the paperwork to satisfy the AML bulls**t. I would⁠ guess the cost would be below 5% but could be wrong, much less than 12%⁤ i am sure.

Also I am pretty sure you could move your company to a⁣ more reputable jurisdiction with auditing requirements and get the bitcoin to your name from there⁢ with documentation that would satisfy AML crap, without paying much in taxes, only a bit︀ of fees in accountants/lawyers.
Probably dubai is your best bet, maybe some south east asia︁ countries could also be interesting.
 
Never use a exchange for FIAT conversion that's the most‍ stupid thing to do, find a reliable person in real life and sell to him⁠ instead.

Crypto is supposed to be P2P, if we use normal exchanges we get the⁤ exact same problems as we do with banks.

Decentralized exchanges, Stable coins and Cash in⁣ hand deals is completely unregulated as crypto is deisgned to be.
 
Do you think I could have found a reliable person to sell to them⁠ 800 BTC @ 13k in 2017 instead of using an exchange? Or even if I⁤ still had the crypto to sell to them now and get money on my account⁣ without compliance issues?
 
I guess his idea was to make the conversion in house and⁤ having the sum sent by wire eventually, regardless if the amount is considerate x example⁣ “bullions” not just a couple of coins there are plenty of secured transport providers with⁢ insurance and GDC’s that can transport it your end coordinates but I doubt that was︀ the original OP’s inquiry.

Nevertheless there are different ways that would keep things under the︁ radar and not even make it known that you own that Belize account in the︂ first place, but same as for CY taxes, it would be accompanied by fees to︃ make the proper conversions and transmissions.
 
If I never report to the Cypriot tax⁤ authorities that I am a director of the Belize company and never declare that the⁣ company pay dividends to me they would probably never find out. But I want a⁢ legal way to get the funds out of the company, otherwise I won't have a︀ good sleep again. My risk tolerance is very low. gre¤#!
 
With 800 BTC you could surely afford⁤ relocation and advice from a crypto advisor to get everything right and tax free.
 
My suggestion was just a caveat, not implying⁣ to dwell into anything illegal, since the result would be the same thing, receiving your⁢ end payment also having to probably pay income taxes, but retouching the source of your︀ income as to keep your original source that in your case is the Belize company︁ discreet for as long as you’d wish so...

Can transfer crypto to a company/exchange and︂ receive the discounted share of funds by fiat wire to any coordinate, with an additional︃ income justification, as a freelancer or a contractor to “X” company, all legal and with︄ full kyc/docs.

Additionally can even swap fractions or all of your deposits for gold be︅ it physical gold vaulted in Luxembourg/Liechtenstein insured by Lloyds London with accompanying GDC, or even︆ digital gold certificates that you can hedge and exchange seamlessly for fiat/crypto all over again︇ depending on your needs and market conditions.
 
The end beneficiary can even be a company itself, as︄ long as you’d be the UBO/director, in any jurisdiction that you’d deem as effective tax︅ wise, in other words you’d be paying yourself from the Belize to your 2nd company︆ resulting paying yourself as a physical person or receiving the dividends from it directly but︇ by eliminating Belize-Crypto-Trading being the origin of the funds, I don’t know if it makes︈ sense...
 
I have lived tax‍ free in Caribbean for ages. I was being sarcastic...lol. I want to know a man⁠ on the street that would have bought 800 btc and put cash in my account⁤ without compliance issue.
 
1. Transfer the bitcoins to your personal
wallet

2. Dump the Belize company

3. Get residency in a zero tax country

4. Cash out / do what you want︌

I don’t understand the issue.
 
Status
Not open for further replies.

JohnnyDoe.is is an uncensored discussion forum
focused on free speech,
independent thinking, and controversial ideas.
Everyone is responsible for their own words.

Quick Navigation

Forums

User Menu

Login
Community platform by JohnnyDoe © 2025 JohnnyDoe
Top Bottom