Cash out to offshore bank account

J

johnsonstephon3747

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Apr 18, 2021

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netherlands

Apr 19, 2021

#1

• Apr 19, 2021

• #1

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Hey I would like to cash out my bitcoins and send them to a offshore bank account (no kyc if possible) does anyone have any experience?

 

Sols

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#2

• Apr 19, 2021

• #2

No KYC isn't an option. Hasn't been for decades.

Cashing out crypto into most offshore banks won't work. They don't have the risk appetite for it.

If it's millions, you can try Bank Frick.

If it's 100,000 – 5,000,0000, you can try SEBA.

For amounts under 100,000, the easiest is probably some crypto friendly EMI like ConnectPay or Verifo to receive the funds and from there transfer to another account. But the final recipient bank still might not like that the money is coming from crypto. Be prepared to have to declare the source of the crypto at each step.

 

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J

johnsonstephon3747

New member

Apr 18, 2021

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netherlands

Apr 19, 2021

#3

• Apr 19, 2021

• #3

Sols said:

No KYC isn't an option. Hasn't been for decades.

Cashing out crypto into most offshore banks won't work. They don't have the risk appetite for it.

If it's millions, you can try Bank Frick.

If it's 100,000 – 5,000,0000, you can try SEBA.

For amounts under 100,000, the easiest is probably some crypto friendly EMI like ConnectPay or Verifo to receive the funds and from there transfer to another account. But the final recipient bank still might not like that the money is coming from crypto. Be prepared to have to declare the source of the crypto at each step.

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I mean first I sell my Bitcoin into money then I want that money to be deposited into a offshore account. And what are the policies for example in Panama like how much could I deposit without them reporting it or getting red flagged?

 

Sols

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#4

• Apr 19, 2021

• #4

Panama has signed up for CRS so any account you open there will be reported automatically to other CRS signatories.

https://www.oecd.org/tax/transparency/AEOI-Commitments.pdf

 

Dreamy

Active Member

Apr 15, 2021

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Apr 19, 2021

#5

• Apr 19, 2021

• #5

Sols said:

No KYC isn't an option. Hasn't been for decades.

Cashing out crypto into most offshore banks won't work. They don't have the risk appetite for it.

If it's millions, you can try Bank Frick.

If it's 100,000 – 5,000,0000, you can try SEBA.

For amounts under 100,000, the easiest is probably some crypto friendly EMI like ConnectPay or Verifo to receive the funds and from there transfer to another account. But the final recipient bank still might not like that the money is coming from crypto. Be prepared to have to declare the source of the crypto at each step.

Click to expand...

Seba - you mean this https://www.seba.swiss/? Private person can just come to this bank, open an account and send there money for example from Binance without questions?

 

B

bossTrader75

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Apr 13, 2021

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panama

Apr 20, 2021

#6

• Apr 20, 2021

• #6

my lawyer said they only Reporting CRS to non residents

if you have cedula here and do not tell banks you have income in another country or tax residence they dont have to report : )

same as Dubai dont report residents : )

 

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bossTrader75

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Apr 13, 2021

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panama

Apr 20, 2021

#7

• Apr 20, 2021

• #7

you can put 10-30 k maybe in one mounth to privat bank account if they ask you plan to buy home and use it for downpayment ..for bigger amounts they could make probs and start ask for source of funds etc : )

 

Sols

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May 30, 2019

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#8

• Apr 20, 2021

• #8

Dreamy said:

Seba - you mean this https://www.seba.swiss/? Private person can just come to this bank, open an account and send there money for example from Binance without questions?

Click to expand...

Yes, that's SEBA. Not entirely without question but they are open to crypto.

 

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