Ukrainian Bank to avoid CRS

[Fred]

Yes it's one of the few developing countries‍ that are not part of the CRS yet.

The capital restrictions are quite high like⁠ already mentioned before. I would definitely have a look into Georgia before opening something in⁤ Ukraine even if Georgia is joining CRS in 2023.

Beside of that you should have⁣ a look into the UAE for a long lasting non-CRS setup without any capital transaction⁢ restrictions and no expiry date regarding the non-CRS status. Beside of that you can open︀ business bank accounts as well as personal ones.

 

[DavidS]

Biggest question about UAE setup is:
1) What are︀ significant benefits to having an incorporate company holding all the assets
VS
2) Just registering︁ as an individual in super tax efficient jurisdiction and cashing out and declaring all assets︂ there?

Second seems easier if you aren't doing regular business, but just need a tax︃ efficient country to cash out as individual and hold assets/stocks/crypto.

 

[Fred]

See my answer here:

https://www.offshorecorptalk.com/threads/how-to-cashout-crypto-the-right-way.32567/#post-164299

 

[LoveMyLife]

Ukraine is not CRS.

I do not kbnow how huge business you can do⁠ with a daily limit 6688 Eur for a foreign transfers.

You can do business easier⁤ by having company in some other more Russia friendly jurisdiction.

You CAN NOT open bank⁣ account in Ukraine remotely, by the law. In reality, if you have a friend there⁢ and you are willing to pay some small bribe, it is possible.

 

[Piano]

Thanks for this extensive reply !

 

[Piano]

Is this a set up‌ only possible in Dubai ?

 

[Fred]

In the exactly mentioned way Yes.

Everything else comes either with bureaucracy, no privacy or‍ taxes or all together.

 

[Logann]

How good is Ukrainian Bank in terms of external bank transfers? No SEPA. Swift is‌ strictly controlled. Here are some rules from Privatbank web. To make SWIFT payment in foreign‍ currency you have to be citizen of Ukraine or hold national passport with residency permit⁠ for foreigners. Payment must include payment reason, invoice number.

 

[LoveMyLife]

Forget Ukraine if you need to make a foreign currency transfers to a foreign countries. There⁤ is very low limit..
Obtain residence permit in Ukraine is easy. So it is not⁣ a problem in initiating a transfers. Problem is a limit for each day.

 

[Fred]

We focus on what we have⁠ experience in practice with and that is Dubai.

Many ways are going to Rome.

At least I provide a suggestion for a solution that I know is working in practice.⁤

You provide nothing beside of theory and bashing our fully legitimate service that is focused⁣ on Dubai.

So many nice people already met here in person trough the forum -⁢ all are happy with the service received.

 

[Fred]

Forming a Dubai Company‌ to receive a residence visa and to live in the UAE is in no way‍ illegal.

But we are all interested if you could enlight us about what is "happening⁠ behind the scenes".

 

[Nasters]

Hello, can you tell us any⁠ ?

Thank you very much

 

[DavidS]

Criticisms are welcome.

But which parts specifically are unlawful?

 

[rey skywalker]

tax fraud is legit defense against piracy of modern government , why pay taxes they‌ will waste in arms, expensive life for the deputies , prostitution , male and female,‍ corruption . Tax evasion is only defence against the leviathan

 

[OffshoreJJ]

LoveMyLife said:
Ukraine is not CRS.

I do not kbnow how huge business you can do with a daily limit 6688 Eur for a foreign transfers.

You can do business easier by having company in some other more Russia friendly jurisdiction.

You CAN NOT open bank account in Ukraine remotely, by the law. In reality, if you have a friend there and you are willing to pay some small bribe, it is possible.
Click to expand...

limit incoming or outgoing?

 

[Jade33]

limit incoming or outgoing?