Move funds onshore? / No source of income

[thoferr13]

Well I'm having the problem that I don't have any source of funds for my crypto earnings and I'm not able to declare it local authorities so therefore I need to shield it as business earnings and expenses, what are common methods to get the job done?

I need the money in my bank account to pay taxes on it so I can work with it with legal investments, problem here is that I even have to fake the expenses so it would be in my interest to funnel the funds back to me without anyone noticing.
I've thought of some kind of online business as local authorities don't know anything about. Or what I also thought about is opening a company with darks and I work there as a freelancer through upwork for example, no one would ask questions.

This is completely killing me as it sounds impossible to someone like me

 

[Martin Everson]

So you have no proof of where the money came from to buy the crypto in the first place? No evidence of a salary, money gifted to you, a personal loan from friend even etc?

You must be able to show that at some point even years ago you obtained money from somewhere by legal declared means and used that money since to invest in crypto. Generally the taxman will not beat you up if you come forward and pay the taxes owned but will if they end up coming to you.

Also why can you not pay taxes from a foreign bank account in your name? Do you live in a country with a strange local currency and payment system or something?

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

 

[boomy]

You could setup a company in either UK, Malta or Cyprus or buy a ready-made old company there. Once setup, you simply start invoicing the company and that way get proof of funds and source of funds. If you want to take this a little bit longer, then simply find a lot of names, addresses in India, Lybia, Russia and other countries where you know the tax office will have second to no chance to ask if it is true.

Get invoice from there!

I know we are in an area which is not legal but yet it is well possible. Unless we speak millions this will work hassle free.

 

[Rzeznik]

thoferr13 said:
This is completely killing me as it sounds impossible to someone like me
Click to expand...

As I see current mania in crypto:
Create few NFT trde them p2p with our own money go binnace and exit position.
Since some stars sells their NFT for milions you can to by someone mistake.
Money try keep in place that can not be sized better have it even in USDT/USDC and move out to fiat via crypto.com.
Where I look whole NFT market with that buzz around is perfect storm to move some money via it.

Martin Everson said:
You must be able to show that at some point even years ago you obtained money from somewhere by legal declared means and used that money since to invest in crypto.
Click to expand...

do this start with no AML amount like 1-10k Euro... and then up up up your position in crypto till exit with NFT. You can trade it with you all time.

Once some pals showed me that invisible rock NFT I knew how some people will make exit from shady things and it is pretty simple. If you are not in EU/US there is not that much hassle with AML laws. Imagine you are in Ukraine/Kazakhstan and noone will give a s**t about your NFT sold for like 2m Euro from anon buyer.

Check you country laws if there is size policy on suspect funds - if there is probably better not keep money here.


PS: I assume that you mined that crypto on laptop in 2010 but you lost proofs of it over time 😉 Sadly some exchanges like MtGox / Cryptopia wend down you you don't have proofs.

Work-thought:
1. Crypto cards/Gold etc withdraw some money/gold without KYC.
2. Maybe you can make some paint job few times ? and get that way like 5k Euro and declare it ?
3. That 5k Euro put into bank somewhere you have here many links
4. Make KYC account buy 1 crypto for 5k
5. Go on ETH nft platform XD buy some cheap cool liking picture or few of them
6. Money from side invest in your NFTs bux for X sell 2X.... (someone will buy)
7. Repeat few times till empty extra funds.
8. Hard traded ETH declare at end of year pay taxes - DONE
9. Create crypro.com acc and use it like bank account.
10. If you have balls you can try find bank that will accept your money.

- use exchanges that ask not much questions
- try find crypto friendly banks
- NFT smell shady but it is not illegal
- instead of NFT you can use some exchange with almost dead coin put high sell order and from other acc buy all from yourself it will show your trading log and looks legit
(maybe that is why some crazy PnD happens)

To be honest playing with crypto is shady once you doesn't have any job before. Biggest problem for you will face is banks they don't want crypto money. Tax office will take any money even from NFT or crazy PnD job. If I would met guy who make money on NFT ,even I would not knew it was legit or not because market is crazy...

 

[SoNewToAllShit]

I think it would be an easy task to fake the invoices and contracts required for this purpose. I have a source that do stuff like this for low money. Does someone had issue faking such documents yet?

Personally I did this a few times already and never heard anything from anyone just keep the funds moving.