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[TaChLOCk]

GlobalMogul said:
Yeah, that's the problem, shipping vast amounts of gold in the mail is risky for obvious reasons, but even more risky cross borders. Plus, customs/import taxes to pay! f**k gold! nai¤%
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All you would have to do is go to the USA, setup a business and bank account, have the gold shipped to you domestically and then resell the gold to receive your domestic wire.

No tax authority is notified as long as you buy and sell certain types of gold.

Check this info graphic: https://www.jmbullion.com/images/IRS-Tracking-Infographic.jpg

Bitcoin/crypto is not considered cash in the US. Win win?

Last edited: Apr 26, 2020

 

[GlobalMogul]

TaChLOCk said:
All you would have to do is go to the USA, setup a business and bank account, have the gold shipped to you domestically and then resell the gold to receive your domestic wire.

No tax authority is notified as long as you buy and sell certain types of gold.

Check this info graphic: https://www.jmbullion.com/images/IRS-Tracking-Infographic.jpg

Bitcoin/crypto is not considered cash in the US. Win win?
Click to expand...

Honestly I have to say, I think you are overcomplicating things. If you want BTC to Fiat, you don't need to introduce gold into the equasion. Risk aside I am sure at the very least it will cost a hefty % in the long run.

 

[onemansomewhere]

There is a way..
1. Obtain a citizenship in a reasonable country - there are a few
2. Obtain a residency in a reasonable country
3. Create a structure with 2 lines:
A. For real estates - There are a few reasonable wasy in Europe - in the most EU countries is not alloewd to own real estate by non EU company or organization
B. For crypto business
4. Estabilish a relationship with bankers in a private banking section of at least 2 or 3 banks..

This is what is the best way to do. You will need to invest som energy and money. But this is only long time solution. Everything else is a short time, only. Many advisors just say, you can start building a house by having a windows.. without any basics..

Dubain is good option, but shor time only. Thins are changing rapidly in last few years and it will be faster and faster a pressure from the EU will be stronger every year.

 

[Silvio]

Martin Everson said:
My last piece of advice is don't setup any corporate offshore structures at all. Simply keep any income from properties you own offshore. Keep all accounts and investment in your name offshore. Don't actively manage any investments while in Ireland and seek only passive investments. Long term you need to seek active management by a professional provider in i.e Channel Islands or Switzerland to be managing your wealth and investment strategy you decide on in an asset protection structure i.e Trust or Foundation. There are banks that specialize in crypto in Switzerland if that is your thing. But separate your traditional stocks investments from anything crypto. Don't use same bank.
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Why would you recommend not opening any corporate offshore structures?
Isn't it easier to transfer assets (=stocks) that you bought using corporate offshore to a Trust by simply transferring the Shares in the offshore corporation to the trust?

 

[Martin Everson]

maxmmm said:
Why would you recommend not opening any corporate offshore structures?
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CFC rules under a resident non-dom status is a pain.

maxmmm said:
Isn't it easier to transfer assets (=stocks) that you bought using corporate offshore to a Trust by simply transferring the Shares in the offshore corporation to the trust?
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Yes it is.

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

 

[Silvio]

Martin Everson said:
CFC rules under a resident non-dom status is a pain.



Yes it is.
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I see.

I wonder if you have any advice, basically what I have been doing is opening broker accounts on my name and lately on a corporate offshore structure thinking it will be easier to later move into a Trust or Foundation. It's not easy and many brokers don't accept offshore companies (Corner Banca in Switzerland does open, they are a whitelabel of Saxobank but they don't really provide custody of the assets, the assets are apparently under custody by some SaxoBank custodians in the US - Citibank etc). Does it make sense to try to open more solid bank accounts in CH\LU\LI\etc by telling them I just want to hold stocks in custody, buy them using cheap broker (call it Saxo) and move the stocks to the solid banks for custody?

What I'm looking to achieve is basically hold stocks in multiple banks\brokers to reduce the risk of any of them going under, plus ideally holding them in an offshore structure so it will be easier to move them to a trust in case I get married etc. I don't care about CRS, tax, anonymity or anything like that. Any ideas?

 

[Martin Everson]

maxmmm said:
Does it make sense to try to open more solid bank accounts in CH\LU\LI\etc by telling them I just want to hold stocks in custody, buy them using cheap broker (call it Saxo) and move the stocks to the solid banks for custody?
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Yes this is what I did. Its referred to as DVP i.e Delivery Versus Payment. You basically use a big bank typically a prime broker but purchase the stock from cheaper brokers. You may be actually able to set it up with a cheap broker so that stocks you purchase settle automatically in the big banks custody account. You will need to open an account with the likes of Credit Suisse, UBS in CH or BNP in LU etc to be able to later freely do a third-party transfer of stocks into a trust etc. Saxobank, IB and these discount brokers are useless for that as you know as they only offer first-party transfers...but thats one of the reasons they are cheap as chips.

maxmmm said:
What I'm looking to achieve is basically hold stocks in multiple banks\brokers to reduce the risk of any of them going under, plus ideally holding them in an offshore structure so it will be easier to move them to a trust in case I get married etc. I don't care about CRS, tax, anonymity or anything like that. Any ideas?
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Aside CS, UBS and BNP then you could try Citibank or HSBC that have a global settlement network allowing you to book assets in multiple jurisdictions through a single franchise. I would look at the financial health of the global institution rather than diversifying banks in the first instance.

Last edited: Dec 26, 2020
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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[Silvio]

This is great stuff, will do. I've contacted DBS SG, their custody fee is not bad at all and I trust DBS a lot more than most Swiss banks. Will see which other banks will open.

 

[Torie]

GlobalMogul said:
I am an EU citizen with multi-millions in BTC. I have owned this BTC a long time and have naturally paid no tax on any of it, in fact, most of it has never been touched.

The last 2 years, I've bought several cheap apartments throughout the EU, refurbished them, and rented them out. It has worked well. Now I have tested the waters, I want to turn this personal investment project into a fully fledged global corporation.

In addition to this property development business, I also want to rebalance my portfolio and allocate my assets wisely - right now they are 90% BTC, 5% real estate, 5% cash.

Namely, I would like a trust or entity to use for buying real estate. Additionally, I would like a corporate entity to use for crypto and stock trading.

I have looked into all the 'offshore' options - Dubai the most appealing so far. However I accept that I am a novice, and I recognize that the offshore market is flooded with timewasting bulls**t and simple rip offs.

I am searching for an experienced, unbiased advisor to help me set up a structure that will stand the test of time.
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Please share your findings with us?