Hi everyone, I live in Europe.
I have about $ 1 million in Litecoin, which I bought in 2014, and I don't want to get caught by the tax authorities.
Initially I decided to use this scheme:
(1) BVI + NOMINEE DIRECTOR (and POA)> EPB bank account> debit card
I would sell the Litecoins through Kraken, where I would open a company account, still in the name of the BVI. Kraken is based in the USA, while the funds are sent by Kraken to my account, from Germany (if I sell Ltc / Euro) or from the USA (if I sell Ltc / Usd).
But then I read on this very useful forum that:
1. the EPB debit card is issued in the UK: problems with CRS or not, since the card is debited to the company account?
2. you all talk badly about the EPB
I wondered then if the following solution is better:
(2) DELAWARE LLC + NOMINEE DIRECTOR (and POA)> US BANK ACCOUNT IN USD / EURO> debit card in Euro (issued in the US).
Eventually, but perhaps it creates a problem with opening the account in the States:
(3) BVI + NOMINEE DIRECTOR (and POA)> DELAWARE LLC (need the nominee? Should it be the BVI?)> US BANK ACCOUNT IN USD / EURO> debit card in Euro (issued in the US).
(**) One of my doubts is that Kraken is in the USA, my company would be in Delaware, if I sell my crypto, does it become a taxed operation, because both companies are inside the States?
Maybe I have to go to the US to open the account? Is it a better solution than the BVI + EPB solution? I forget something?
My needs are very simple, because it would be a one-shot operation:
* don't let me steal money from the tax authorities
* to be in a solid and reliable place for many years
* to be able to have a debit card without the CRS problem
* being able to eventually buy real estate with the company
Making a summary and not wasting your time, the best solution for my case, what is it? (1), (2) or (3)? Don't forget to consider the (**).
If instead you have even better solutions, please tell me.
Thank you so much if you want to help me.
I have about $ 1 million in Litecoin, which I bought in 2014, and I don't want to get caught by the tax authorities.
Initially I decided to use this scheme:
(1) BVI + NOMINEE DIRECTOR (and POA)> EPB bank account> debit card
I would sell the Litecoins through Kraken, where I would open a company account, still in the name of the BVI. Kraken is based in the USA, while the funds are sent by Kraken to my account, from Germany (if I sell Ltc / Euro) or from the USA (if I sell Ltc / Usd).
But then I read on this very useful forum that:
1. the EPB debit card is issued in the UK: problems with CRS or not, since the card is debited to the company account?
2. you all talk badly about the EPB
I wondered then if the following solution is better:
(2) DELAWARE LLC + NOMINEE DIRECTOR (and POA)> US BANK ACCOUNT IN USD / EURO> debit card in Euro (issued in the US).
Eventually, but perhaps it creates a problem with opening the account in the States:
(3) BVI + NOMINEE DIRECTOR (and POA)> DELAWARE LLC (need the nominee? Should it be the BVI?)> US BANK ACCOUNT IN USD / EURO> debit card in Euro (issued in the US).
(**) One of my doubts is that Kraken is in the USA, my company would be in Delaware, if I sell my crypto, does it become a taxed operation, because both companies are inside the States?
Maybe I have to go to the US to open the account? Is it a better solution than the BVI + EPB solution? I forget something?
My needs are very simple, because it would be a one-shot operation:
* don't let me steal money from the tax authorities
* to be in a solid and reliable place for many years
* to be able to have a debit card without the CRS problem
* being able to eventually buy real estate with the company
Making a summary and not wasting your time, the best solution for my case, what is it? (1), (2) or (3)? Don't forget to consider the (**).
If instead you have even better solutions, please tell me.
Thank you so much if you want to help me.
