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Question Spaniard - Crypto - Exit strategy - 7 figures (Part 2)

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Nop, just my advisor⁠ saying it.
One advisor said you can cashout longterm holding and pay 0%.
Other advisor⁤ said to create a company and pay 12,5% (which I would happily pay if I'm⁣ sure I can get a bank to accept my money). Not sure if they will⁢ even let me use that money for creating the company. Am I too paranoid?

What is stopping me to chose Dubai right away is the tax residency certificate. I'm concerned︀ the motherfuckers of spanish tax agency will try to screw me
 
I need to see everything and know about everything before‍ making any choice in the next days. So thanks in advance.

I buy a flight⁠ and get in Dubai with tourist visa for 90 days (that i get in the⁤ airport?)?
How long till I have the company and the resident visa for 2 persons⁣ done?
Then, once I want to cash out I start invoicing the company and sending⁢ the money to the bank account. but how? I haven't checked but I'm quite sure︀ binance will only let me withdrawal to an account in my name. Not to a︁ company's bank account. How to proceed? I move my binance account from personal account to︂ corporate account? It might be better to create a new one right?
Another question. Let's︃ say I'm interested in cash out 5M€.

I cashout that amount but after that I︄ want all my money to have a clear track record. Meaning I want to cash︅ out everything but once I have 5M€ the rest of the money will be directly︆ used to buy btc again.

For that btc purchase I could create a new (holding)︇ company in dubai or switzerland (second one preferable because I'll be later living there) and︈ transfer that money to the bank account related to that company. Then transfer that money︉ to binance account linked to the new swiss company and buy btc.
 
sorry, I just had to do this useless image, sometimes it help to picture the‌ process...
 
Funny - you remember me of‍ myself back in 2017.

If you want to cashout in this current bull market in⁠ 2021 you have to go out of your comfortzone.

Many people are not willing to⁤ do so and pay 40-50% tax beacuse of fear, some are just lazy.

We can⁣ have a personal call and I try to help you no matter what you do⁢ because with your current mood you get lost in theory.

You know from back in︀ the days how fast Crypto can bubble and when you are not ready - well︁ the buble doesn't wait till your setup is finish.
 
There are plenty︉ of buyer's in the UAE who will do an OTC transaction with you for maximum︊ 5% but you can issue them an invoice and they can introduce you to the︋ bank.

Because they are already a bank account holder and HNWI the bank are happy︌ because they know the source of funds.

Then you can easily open other accounts in︍ other banks. This is once you get your residency and ID card.
 
In my experience, every⁠ advisor says something different. But I think we can rule out income tax for long⁤ term holdings? Say you sell BTC you are holding since 2017 for 50k and also⁣ got a cost-basis of 10k, I can't imagine these 40k would be taxed as income.,⁢ worst case the 20% as with real estate. ns2
 
Every advisor on Cyprus says something different because on Cyprus is a huge⁤ difference between the written law and what is enforced in reality. Same like with Malta.⁣ As soon as we are talking about 7 figures they catch you and then you⁢ have to negotiate with them like on a turkish bazar.
 
Maybe, but I didn't mean long term holdings.

In the end we just⁤ don't know.

I think if you don't want to use the Dubai setup or something⁣ similar, the only way to be sure in Cyprus is to use a Cyprus Limited⁢ and pay 12,5% or to request a tax ruling. But even with a tax ruling︀ I don't know if you can be really sure.
 
Even then you⁣ have to deal with a Cyprus Bank with Crypto - Gameover!
 
Yes! Fred, is it possible to setup the Dubai stuff as‍ disccused in this thread, but still keep the cyprus tax residency? Like having a emirates⁠ visa but still spending 60, 183 or more days in cyprus. If not, would a⁤ local director give access to the banks in UAE, so it's not non-resident?

To maintain⁣ the 17 year non-dom status in cyprus, because I think it's worth a lot to⁢ have this in the next years.
 
Yes that is possible, UAE don't care about⁢ your other residency so long as you obife by theirs.
 
Of course that's possible like @CaptK mentioned.

We have many clients that are still based on Cyprus but using the UAE as Crypto⁢ getaway.

Send me a PM and we can discuss anything further.
 
Now it makes sense. I'm glad you mentioned because something⁢ I really hate are hidden costs that noone mentions until you have no other route︀ than to pay it.
Now, let's make some creative thinking here. What is gonna be︁ the fee when the market is parabolic with a volatility of 15% each day?
If you're trying to cash out 7 figures, I'm guessing (probably I'm wrong) that the other︂ side must be an educated investor. Are they gonna be buying the top?
Worst case scenario is to pay the 35% of income tax if you're a trader.︈ If you just want sell your long term holding worst case scenario is 20% (which︉ it shouldn't be).
I think this is the most secure. Include all your assets in a company and️ pay 12,5% corporate tax. As long as you have legal funds there are some swiss‌ cryptofriendly banks that after the AML/KYC are willing to accept your money. As far as‍ I've learned, they use The Blockchain Analysis Company - Chainalysis to make a forensic background⁠ on your cryptos.

Guess that would be interesting︁ if you're already a cyprus resident right? if not you can just spend 2 years︂ in dubai and then move to cyprus. btw, if you're in cyprus and you spend︃ 90 days working for your dubai company it's supposed to have to pay cyprus corporate︄ taxes. Guess not having any accountability helps to avoid that rule
Fred, not being rude here, I just wanna know. You︈ said you cash out in 2017? Why are you spending your time here trying to︉ get clients to earn 7k€?
As said, not being rude. Just want to know what︊ moves you
 
Passion - I'm to young to retire.

I love the contact with the︌ people - to here the story and building a network.

The people like it as︍ we charge super competitive prices - no rip off - made the money already.
 
@FreeBit if you are Spanish and currently tax resident in Spain, forget about moving your‌ tax residency to UAE.
Spain retains the Spanish tax residency for 4 years if you‍ move to a tax haven. UAE is considered a tax haven for Spain.
You can⁠ read more about it here: Persona física residente en España - Agencia Tributaria

So you⁤ have to first move to a non-tax haven for Spain and then in the future⁣ move to UAE.
 
Have you considered‍ Georgia as a possibility? I have read here some threads and some people has been⁠ able to cash out.
 
I do not get it .
How to convert︀ crypto to shopify ecommerce.
Can you clarify more Crypto -> (Shopify unlimited order with aliexpress)︁ -> bank account ?
How to do that ?
Without crypto tracing ?
 
Can't mention something⁠ for free in respect to our already paying clients.

Thanks for your understanding.
 
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