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

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Not trustworthy.
Fred claims to be a cryptomillionaire but he's⁠ 24/7 on this forum trying to get some people to dubai just to help.
No millionaire does that. CaptK does not want to live in dubai neither
They're set up⁤ cost is the best. Their fee is probably when you sell and the dubai millionaire⁣ costs you 10% fee. 5% for them.
There are better cost/benefit/risk options IMO
 
For personal⁣ reasons I can not live in the UAE but I am there at least once⁢ a month, COVID dependant. There are a few members I have serviced in and out︀ of the UAE as I have an office there.
 
What you⁣ write is concerning, because Fred mentioned about 1% total cash out fees .....?

Indeed, it⁢ would be great to get some real total costs feedback from people who have already︀ cashed out significant amounts using DLS Dubai solution.

@FreeBit Would you mind listing the better︁ cost/benefit/risk options?
 
The part that does make sense is‍ why would a self-proclaimed crypto millionaire want to handhold noobs on this forum? That is⁠ a pretty good question.
 
Well even a crypto millionaire need something to do!

Where did you get this⁠ "self-proclaimed" crypto millionaire from, did he told you that?
 
I think the main sticking point for some ppl is cashing out crypto through a‌ company with invoices not related to crypto, which I 100% understand. This is especially true‍ if your coins are legal and clean; and you come from a high tax/anal home⁠ country - people rightful say "why add a risk factor which isn't needed?". The pertinent⁤ question here is: can you cash out crypto in dubai legally without this masking? You're⁣ at the mercy of the banks I feel.

Whether fred or whoever is a crypto⁢ millionaire or not is irrelevant. I don't know anyone, and will not defend anyone, but︀ some of the most successful people in the space are still hustling like they're on︁ food stamps.
 
In Spain have crypto friendly bank ? pay tax in Spain for me no problem‌

to FreeBit From 2022, it is necessary to declare all cryptocurrency in 720 declarations​

 
@Mercury, can you point to⁤ the post (here or elsewhere in forum) where @Fred said that?

I too agree that⁣ Fred's millionaire status is not the topic here. I also understand him, out of care⁢ for already served clients, not being willing to disclose his proprietary technique for the key︀ crypto-to-fiat contact surface. However, as an almost certain customer in near future, I do think︁ there were 2 valid points raised here where we deserve more transparency in advance:

1 - Estimate of the total cost of the cashout. Mainly estimation of btc-to-fiat exchange rate︂ as it is the deciding factor.

2 - aml/tf risks of the simulated business activity.︃ He needs to find the right balance to assure everyone without uncovering&harming his own service︄ model. I'm willing to pay for a well thought service but don't want my e-commerce︅ shop to sell , let me paint this bluntly, a truck liad of usb sticks︆ to Iranian mulah, for example.
 
The biggest issue is the credibility of your buyer. If your buyer is not︄ established and you receive a payment from them, you will have problems.
Your buyer can︅ tell his bank he is buying coin but your bank will accept it then give︆ you greif.
The BUYER is the key!!!!
 
What we recommend has nothing to do with P2P or OTC.

You simply stick to‌ an Exchange that isn't flagged as something Crypto related by the local UAE banks -‍ so in the case of our clients they sell it to on an exchange.

That's it - no magic or 3rd parties involved.
 
@FreeBit I've just joined this forum and found this thread interesting. I'm from Dubai and‌ my 2 cents on this would be to find a Private Bank in the UAE‍ that will accept cash. You can then do an OTC trade, Bitcoin for USD or⁠ AED cash. You can hire a conference room in the Burj Khalifa where there's lots⁤ of security cameras and do the transaction there. Dubai is the safest place in the⁣ world to do this and lots of OTC trades like this happen. I've done many⁢ myself but in the tens of thousands, not the millions that you are looking to︀ do. And then you can deposit your cash to the Private Bank.

I think it's︁ definitely worth speaking to a Private Bank as they may be able to help you︂ find a solution. Maybe you sell them some of your bitcoin and you deposit your︃ use funds with them and they give you an unlimited credit card limit that you︄ pay off each month from the UAE so that you don't have to sell all︅ of your bitcoin and you wouldn't be making any income so you wouldn't need to︆ pay any income tax.

And congrats on making so much with your bitcoin!
 
hey @FreeBit, did you finally take any step forward?
I'm exactly in the same‌ situation, willing to leave spain (but probably not to Dubai lol) or creating the offshore‍ structure to move crypto funds (lots of doubts here regarding the economic substance, CFC &⁠ CRS rules..)
Just wondering, did you even considered portugal (willing to work for a while⁤ there though)?
If you could pm with your latest insight I'd appreciate it 😉
 
Hi, im from Spain too, i found some info about Cyprus, Andorra,⁢ etc , Do you wanna share? Un saludo
 
Hi! I'm exploring Portugal &‍ cyprus for now, looked into Estonia & UAE but are not for me at the⁠ moment.
Is there any setup that convinces you?
 
Every crypto spaniard wants to leave Spain it seems.

Have you guys considered Greece? 15%‌ is not ideal but better than Spain.
 
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