Recent content by bab00n

Thanks for the info, everyone. I wanted to use Binance for futures trading because of its liquidity across a wide range of pairs. My intended use was for corporate purposes, not as an individual. I'll try Bybit as an alternative. Kraken and others typically lack liquidity for less popular...

Binance services differ among EU countries. Some EU countries are blocked and for some certain products such as leveraged and derivatives trading are restricted. The goal ist to trade on Binance with in Cyprus after moving there or - for now - finding out if they allow Cyprus residents to...

Hi everyone, can someone please help me out with these questions: does Binance currently offer their services to Cyprus residents (individual & Limited)? If yes, are there restrictions on derivatives trading or p2p? I read a lot about Binance withdrawing from their Crypto License application...

Which specific license are you referring to? There don't seem to be any licenses in Cyprus yet that would be suitable for a trading Ltd.

Thanks. Of course, happy to receive your pm.

Many thanks for the reply. Regarding the transactions, I was not able to find any reasonable estimate of how much accountants would charge for, say, 25k+ crypto transactions (long/borrow/short). Do you happen to know much is charged charged in such cases? Obviously, I could export the...

Very useful information, thanks for that for your input. Given that crypto-to-crypto transactions are not taxable events, are there any simplifications on the accounting of an LTD if all assets are cryptos? I am asking this to understand whether each crypto-to-crypto transaction will indeed...

Interpreting everything in your favor is clearly not the way to do planning. If you are serious about doing business there you should try to understand the tax law or get professional advise on the specific products you want to trade. My last reply regarding this topic: It does not say futures...

Not sure what your point is. These are actual quotes from the tax code. There is a definition of "Security" for tax purposes which encompasses equity and debt obligations and does nowhere add "and everything else that Rod1 considers a security". It further states that some derivatives on such...

A commodity is not a security even in common/financial sense. Much more importantly, "Security" for tax purposes is defined in the tax code. Everything not explicitly listed is not part of the definition. Where do you spot commodities in the definition of "Securities" ("shares, bonds...

I gave you one example of what is not part of the tax exemption in Cyprus - commodity forwards/futures. As for tax residence, many people who thought "it is not too hard" got their holes properly busted by their local tax authorities. Anti avoidance rules in Europe are no joke. Regardless of...

(1) It contains a lot of corporate finance related stuff. I have not seen e.g. commodity derivatives being part of the exemption. (2) These new GHCS contributions apply to individuals and for all income. Quoting from a Deloitte paper which can be found online:

Profits from disposal of securities and dividend income are exempt from tax. Futures are only exempt if they fall in the definition - check Note 4 here. As individual receiving dividends from your company, you will pay 2.65% health contribution in 2020 on amounts up to 180k EUR. As for salary...

Thanks for the replies. I have checked the local tax code and contrary to some interpretations found on the internet, it states that all income is taxable with a list of specific exemptions to this rule such as dividends and share proceeds. The Cyprus Ltd indeed appears to be the cleanest way...

Hi everyone, I'm trading in an array of financial products and a do a lot of cryptocurrency trading lately. Profits from the latter are taxed at insanely high personal income tax rates in my EU country. Therefore I decided to move somewhere nice to concentrate on my trading business and not pay...