Can't provide proof of origin?

[ikan]

He lives in Germany. They do not tax crypto gains if you hold them for more than 1 year. I

You make me happy for Kadinger.
Then I was mostly wrong on my previous post.
I'am happy to learn Germany is kinda Tax Free Zone for Btn capital gains.
For how long ?
Tax regs. can change pretty fast in Western EU.
Never for the good !
More and more often with retro-actions.

Stupid question : Kadinger wrote he doesn't have bank account.
Do the Landers banks or national ones in Gemany will accept with a new or recent opening account a quick 500.000 fiat Euros deposit with origin SoF Btn ?
In some neighborhood countries for the banks it is : NO
Kadinger want to invest into property in his home country.
The Notary will not tell Kadinger. But Noratry is expecting a snow white, easy and clear orgin of funds... Unless...

 

[daniels27]

Yes, crypto gains are tax free in Germany if you held them for over 1 year. Switzerland has no capital gains tax and they are taxfree too, unles you are engaged in commercial trading.

The banks won't like him. He now needs to sort out his documentation. And then probably approach a lawyer with the documentation to sign off on it. Or he used the car selling method to slowly deposit some cash. You should be able to depost 250k per year if you do it properly. YMMV.

 

[ikan]

Or he used the car selling method to slowly deposit some cash. You should be able to depost 250k per year

I am afraid Daniels27. That does already belongs to the Past.
Germany used to be kinda Cash transaction Heaven in Europe !!!
See how things moove quick here : new EU regs. under implentation for all states..
1) Maximum cash payement 10.000 euros, no matter why, who, when, how.
2) Each state is free to lower this limit (lower limits at 1.000 euro is already applied in some Western States)
3) Any professional or moral person involved in a cash transaction over 3.000 Euros must get the Id card to the payeer client.
----------
---------
Last and already applied => most western states : professionals or moral persons involved in any type of transaction/sale/service must report the client in case of any presomption.
=> please do understand : we don't talk about evidence of proof, or conviction about whatever about the client or payeer.
=> the professional is now liable in case of not declaring his "presomption"
----------
On the top end !!! Banks here had become completly paranoid !!!! The first mate of the taxman. Won the gold medal for reporting

 

[daniels27]

Yes, that if correct. You may want to deposit elsewhere. But even in Germany it is possible to run a good number per year in cash deposits.

 

[Kadinger]

You make me happy for Kadinger.
Then I was mostly wrong on my previous post.
I'am happy to learn Germany is kinda Tax Free Zone for Btn capital gains.
For how long ?
Tax regs. can change pretty fast in Western EU.
Never for the good !
More and more often with retro-actions.

Stupid question : Kadinger wrote he doesn't have bank account.
Do the Landers banks or national ones in Gemany will accept with a new or recent opening account a quick 500.000 fiat Euros deposit with origin SoF Btn ?
In some neighborhood countries for the banks it is : NO
Kadinger want to invest into property in his home country.
The Notary will not tell Kadinger. But Noratry is expecting a snow white, easy and clear orgin of funds... Unless...

Depending. When you have proper documentation and talk with the bank in advance its possible - again depending on the bank.
Notary is not asking for SoF unless its not a bank transfer (which is the only option to pay for a real estate since last year.

 

[Kadinger]

I am afraid Daniels27. That does already belongs to the Past.
Germany used to be kinda Cash transaction Heaven in Europe !!!
See how things moove quick here : new EU regs. under implentation for all states..
1) Maximum cash payement 10.000 euros, no matter why, who, when, how.
2) Each state is free to lower this limit (lower limits at 1.000 euro is already applied in some Western States)
3) Any professional or moral person involved in a cash transaction over 3.000 Euros must get the Id card to the payeer client.
----------
---------
Last and already applied => most western states : professionals or moral persons involved in any type of transaction/sale/service must report the client in case of any presomption.
=> please do understand : we don't talk about evidence of proof, or conviction about whatever about the client or payeer.
=> the professional is now liable in case of not declaring his "presomption"
----------
On the top end !!! Banks here had become completly paranoid !!!! The first mate of the taxman. Won the gold medal for reporting

Not true at all... First of all the new reg. is not in place atm.
Second, there is no limit at all for purchases between individual persons. So still possible to buy a car for 100k in cash (as long as you find someone who is accepting that much cash...).
But the bank have to report a cashin by the seller then. They will also ask for the buyers contract and when they see there a high and often cash payments of the person as buyer, there could ring a alert.

But I would disagree with you about the tax authorities in particular. Depending on the district and the industry, you can actually do whatever you want.
The restaurant I always go to has only had handwritten “invoices” when paying in cash for decades.

But if you have a shisha bar or something similar... Then expect monthly raids during business hours.

 

[daniels27]

Ok, how do you want to proceed? Do you want to try to reconstruct the transactions?

You want to deposit some cash?

You want to off-ramp abroad?

We are here to help.

 

[Kadinger]

Ok, how do you want to proceed? Do you want to try to reconstruct the transactions?

You want to deposit some cash?

You want to off-ramp abroad?

We are here to help.

Had the appointment with my attorney. Don’t want to write in public what we talked about. Can you send me a pm?