Best country close to EU for bitcoin earnings.

[lionel234]

Hi all , my first post on this forum so i hope i choose the right subforum for this.

I trade in bitcoins buying and selling. Bitcoin earnings are very heavy taxed in my country. And also to gain against other local exchangers that mainly offers digital trades, i also offer cash-trades in person to some customers. This creates new problem since in my country paper cash is seen on as criminal.


So my question is , wich country in EU or close to EU would be best to either set up a company for bitcoin trading or to continue in trading bitcoins as an individual?

i’ve looked in Estonia, from what i’ve read Estonia has 0% tax for companies, but you will have to pay 20% tax once you take out the money from your company to yourself.

Malta?

Dubai from what i understood hasnt really regulated bitcoins. ( not so close to EU too )

Italy dont tax bitcoins on individuals making less trades than 25000eur worth per week ( i dont make over that volume) This rules doesent apply for companies though.


anyone know about Turkey?

 

[Clip]

Estonia and try yo pay yourself though Bitpay but then you need to pay yourself a dividend tax on top on that 20%

Also you can get cards like TenX or Coinbase Card to spend using crypto

Italy dont tax bitcoins on individuals making less trades than 25000eur worth per week ( i dont make over that volume) This rules doesent apply for companies though.

Really? Seems unlikely but if true I'll move immediately to the Tuscany

 

[moneyhoney]

Italy dont tax bitcoins on individuals making less trades than 25000eur worth per week ( i dont make over that volume) This rules doesent apply for companies though.

The law is more tricky than this and I wouldn't trust the Italian fiscal system: they do like to change the rules and apply them retroactively.

But it should be like this: private not owning more than 51k€ in any moment isn't considered a speculator, so he doesn't need to declare the profit/loss; having bitcoin is considered like having any other currency, just need to have paid taxes when you got it.

That's why you must be ready to show exactly how you got them and remember Italy is a real nightmare about fiscality.

 

[JohnLocke]

Most countries in the EU will tax you on profits regardless if it is bitcoin or any other investment. You can setup your entire business in a company but if you live in the EU you will get personal taxed from the profits in such entity.

Your only chance is to setup some legit company including office and staff to convience your local tax office that this is not a business operated from your home address.

 

[lionel234]

Moneyhoney , sorry your right , the sum was like you said , transactions above 51000eur in 7days.

 

[moneyhoney]

Estonia and try yo pay yourself though Bitpay but then you need to pay yourself a dividend tax on top on that 20%

Always been curious about this: let's say I have bitcoins for long but I didn't keep any proof of the operation so it would be hard to declare them. So you decide to put up a dummy website where you can buy something with BTC through coinbase or bitpay and move your bitcoins to a "legit" business. Doesn't coinbase or bitpay look for suspicious operations? (Like checking wallets, IPs etc)

 

[moneyhoney]

Moneyhoney , sorry your right , the sum was like you said , transactions above 51000eur in 7days.

I think there is something even about the operations, but generally is about how many bitcoin you own and the current value of them (cannot be over 51k or you are considered a speculator and need to pay 26% on profits).

 

[Clip]

bitpay looks for suspicious operations? (Like checking wallets, IPs etc)

They look and they won't accept transactions that come from directly or indirectly from dark wallets.

Bitpay under 3k USD they don't ask for KYC

 

[moneyhoney]

They look and they won't accept transactions that come from directly or indirectly from dark wallets.

Dark wallets?

 

[lionel234]

They look and they won't accept transactions that come from directly or indirectly from dark wallets.

Bitpay under 3k USD they don't ask for KYC

Maybe OT but Bitpay seems to only accept US customers at the moment ( for ordering a bitpay card )

 

[Clip]

Dark wallets?

Drugs, darknet, arms, Iran sanctions...

 

[Clip]

Maybe OT but Bitpay seems to only accept US customers at the moment ( for ordering a bitpay card )

You can open with a EEA company

 

[moneyhoney]

Drugs, darknet, arms, Iran sanctions...

How are they supposed to know what's the source of bitcoin? You can even mix them up and they become "untraceable"..

 

[Clip]

How are they supposed to know what's the source of bitcoin? You can even mix them up and they become "untraceable"..

If you mix black with black you still have black
If you mix white with black you get grey

That's why miners usually sell their new minted Bitcoins sometimes for a premium

 

[moneyhoney]

If you mix black with black you still have black
If you mix white with black you get grey

You didn't explain me how they know if some activities are behind some wallets. But it's OT so it's all right, let's back to the OP.

PS. My question btw wasn't related to illegal activities but just bitcoin you have no tracks.

 

[Clip]

You didn't explain me how they know if some activities are behind some wallets. But it's OT so it's all right, let's back to the OP.

PS. My question btw wasn't related to illegal activities but just bitcoin you have no tracks.

https://www.technologyreview.com/s/...-the-perfect-hiding-place-they-thought-wrong/

 

[moneyhoney]

https://www.technologyreview.com/s/...-the-perfect-hiding-place-they-thought-wrong/

"In most cases, says Levin, investigators turn to Chainalysis when they already have some kind of lead, like a Bitcoin address they found among a suspect’s possessions" - I can do it too then. lol