Dividend Distribution - best process?

[marble123]

Thank you mate - did you go to any office to communicate that you didn't want to be a tax resident anymore?

I got my advisor in Spain to present my "baja", and then present the "Modelo 030" to inform about my change of domicile

 

[tylerdurden90]

I got my advisor in Spain to present my "baja", and then present the "Modelo 030" to inform about my change of domicile

Ok, so the advisor can do it for you - thank you very much! It would be great to connect and exchange some info but I see no of us can send DMs yet haha

 

[marble123]

Ok, so the advisor can do it for you - thank you very much! It would be great to connect and exchange some info but I see no of us can send DMs yet haha

yep - i think thats only available for the premium plans

 

[Radko]

Ok, so the advisor can do it for you - thank you very much! It would be great to connect and exchange some info but I see no of us can send DMs yet haha

No need to get an advisor, the form is online, download it, submit it, it's extremely easy

 

[marble123]

To keep it simple get it paid to any new account with no history of Spain address on it.

thanks! will follow this advise

 

[marble123]

turns out the Cypriot bank is charging a commission of 0,75% over the received dividend amount - seems too high?

 

[Sols]

Is there a cap? SWIFT wire fees are often charged as a percentage with a minimum and a maximum.

 

[marble123]

Is there a cap? SWIFT wire fees are often charged as a percentage with a minimum and a maximum.

the swift charge is only 5€ - it is the due diligence fee which is the killer!

 

[JohnnyDoe]

the swift charge is only 5€ - it is the due diligence fee which is the killer!

A due diligence fee?
And someone has the courage to say that bitcoin is a scam

 

[marble123]

A due diligence fee?
And someone has the courage to say that bitcoin is a scam

lolll

seems like this dividend will be paid to the new Wise account..

 

[FixieHartmann]

lolll

seems like this dividend will be paid to the new Wise account..

You managed to get a wise account? Here in the forum it seems that most people only manage to get on the waitlist.

 

[marble123]

You managed to get a wise account? Here in the forum it seems that most people only manage to get on the waitlist.

strangely I managed to open one (with details of my CY address).

i hope i don't have any issues after having made the transfer..

 

[TheCryptoAnt]

i think you are overthinking it, if your set up is correctly put in place and you already did the 030 youre fine.

id personally avoid using your ES IBAN tho but even if you decided to use it you already left.

 

[marble123]

i think you are overthinking it, if your set up is correctly put in place and you already did the 030 youre fine.

id personally avoid using your ES IBAN tho but even if you decided to use it you already left.

it's probably overthinking indeed, but yes: want to avoid using ES IBAN just in case

I want to avoid CY bank because of the outrageous due diligence charges - what's the worst that can happen if I transfer a dividend to a (very) recently created Wise account?

 

[JohnnyDoe]

what's the worst that can happen if I transfer a dividend to a (very) recently created Wise account?

That the account is frozen, the money blocked for 6 months and then returned to the sender.

 

[marble123]

That the account is frozen, the money blocked for 6 months and then returned to the sender.

bummer..

with all the docs in order (financial statements, dividend resolution, tax declaration, etc) let's hope for the best!

 

[TheCryptoAnt]

I want to avoid CY bank because of the outrageous due diligence charges - what's the worst that can happen if I transfer a dividend to a (very) recently created Wise account?

yeah i just read the whole thread and 0.75%? jfc

worst that can happen? acc frozen for some time while you talk to the monkeys, depends heavily on amount.
Wise is good for up to $250k maybe, over that id go with a real bank.

In my experience € is easier to move through Wise than $

 

[Marzio]

In my experience € is easier to move through Wise than $

Did something happen when moving $?

 

[TheCryptoAnt]

Did something happen when moving $?

Same amount a few months apart.

€? Nothing, all good.
$? Compliance attack. Send us contract, counterparty info, realtor contact, etc.

I sold a flat in Miami, and they $ came from inside the US

Personal acc

 

[Marzio]

$? Compliance attack. Send us contract, counterparty info, realtor contact, etc.

Scary