Education/Coaching Premiumgroup, getting paid via USDT @ Cyprus Ltd (no Invoice)

[spaniard1337]

Hey!

I am living in Cyprus and working as a Designer since a year. I have a company (Limited) here and make around 250,000€ per Year after tax with my business.
A part of my company profits is Crypto (around 50% recently - it was far more when I started). That all works. I report my profits from Crypto Trading (surplus per month) to my accountant together with my income & invoices from my Designer-Job.
These are all KYC'd companies. Mostly ukrainian and bulgarian I work with... No issues as I get a proper Invoice I can show to Revolut and Hellenic Bank if they ask for Source of Funds. If they ask about Crypto Source of Funds I can show them the receipts as well, as I track all my trading with a tax tool meticulously in order to never face AML problems.

Now I want to start a private, paid Group to educate People about Trading and Crypto Safety.
I want to charge like 3000-8000$ per 3 Months. So lowest Payment would be 3k, highest 8k. I have a big fan base through my Youtube Account so I already know I will be able to fill the group with 10 People each month.

Issue: I don't want to use any Service-Provider like whop or whatever, who takes 7% cut from me. I want to set it up myself best case, so I earn 100% of what they pay.
At the same time, nobody wants to dox in crypto. So I don't want to force KYC in order to join my group...

Can I just set up a Form and ask about Name/Email/Country (to calculate if I have to add/pay VAT (EU)) and tell them to send me USDT? Legally whop would do the exact same s**t... Right?! But I wonder if Banks/AML etc. will cause problems or if I will get problems if an Audit happens?

 

[daniels27]

Can I just set up a Form and ask about Name/Email/Country (to calculate if I have to add/pay VAT (EU)) and tell them to send me USDT? Legally whop would do the exact same s**t... Right?! But I wonder if Banks/AML etc. will cause problems or if I will get problems if an Audit happens?

We recently had a similar post. That time, it was much lower price but higher volume (proxy, vpn). Mullvad has some agreement with the Swedish VAT guys that they use the creidt card country payment percentage to account for crypto payment VAT as well.

D

Post in thread 'Country selection advice'

Feb 19, 2025

Let me summarise things for you again. You are selling privacy services from your home in Sweden and are worried about having to pay VAT on all sales. You propose to incorporate offshore to avoid having to charge VAT to all customers.

Let's go through it step by step.

Offshore Company
An offshore company is a good idea. But only if you personally leave Sweden before incorporation. If you incorporate while you are in Sweden, you must register a branch of your company in Sweden. You will then be subject to Swedish tax on the business profit. Of course, the branch will also be...

• daniels27

• 

I guess in your case, a form should do the job (if it matches the IP address of the client in any case as you have 2 matching pieces of information). You may want to check with the VAT guys from Cyprus to get an agreement ahead of time.

 

[W Fish]

First your VAT adding or not depends on your own status. If you cross the limit (dont know what it is in Cyprus, your accountant would know) you have to add VAT to all invoices.
The excemption would be VAT acountable businesses from EU or third countries. Guess if it is imprtant for them to be invoiced without VAT and they let you know about it + give their VAT number, you are not allowed to not add VAT without it.
Other than that you need the basic info about your customers depending on local rules (again your accountant should know what data should be on an invoice)

I dont know what software you or your accountant uses but invoicing is such a primitive task that it is difficult to understand how it is possible to make a separate business at all. It is difficult to imagine accounting software without that function.

 

[daniels27]

I dont know what software you or your accountant uses but invoicing is such a primitive task that it is difficult to understand how it is possible to make a separate business at all. It is difficult to imagine accounting software without that function.

@W Fish why so mean?

I think you are missing, that in Cyrpus the VAT threshold is 15,600 EUR per annum. He is selling 3000 to 8000 per quarter. He would be a very lousy business man if he cannot sell for more than the threshold.

But that is not his issue. The issue that under EU laws, his services are subject to OSS and he needs to charge the applicable VAT rate of each member state and remit to the state. That's why he needs to know which country his customers are from. The EU rules are that he needs two piece of non conflicting information where the customer is from. Hence, as explained a form and an IP would do the job. However, I also know plenty of companies (Namesilo is one of them), which simply chrge VAT in accordance with your IP address only. Of course, a VPN is only two clicks away.

 

[AlicaFunk]

Hey!

I am living in Cyprus and working as a Designer since a year. I have a company (Limited) here and make around 250,000€ per Year after tax with my business.
A part of my company profits is Crypto (around 50% recently - it was far more when I started). That all works. I report my profits from Crypto Trading (surplus per month) to my accountant together with my income & invoices from my Designer-Job.
These are all KYC'd companies. Mostly ukrainian and bulgarian I work with... No issues as I get a proper Invoice I can show to Revolut and Hellenic Bank if they ask for Source of Funds. If they ask about Crypto Source of Funds I can show them the receipts as well, as I track all my trading with a tax tool meticulously in order to never face AML problems.

Now I want to start a private, paid Group to educate People about Trading and Crypto Safety.
I want to charge like 3000-8000$ per 3 Months. So lowest Payment would be 3k, highest 8k. I have a big fan base through my Youtube Account so I already know I will be able to fill the group with 10 People each month.

Issue: I don't want to use any Service-Provider like whop or whatever, who takes 7% cut from me. I want to set it up myself best case, so I earn 100% of what they pay.
At the same time, nobody wants to dox in crypto. So I don't want to force KYC in order to join my group...

Can I just set up a Form and ask about Name/Email/Country (to calculate if I have to add/pay VAT (EU)) and tell them to send me USDT? Legally whop would do the exact same s**t... Right?! But I wonder if Banks/AML etc. will cause problems or if I will get problems if an Audit happens?

could advise if you want to have the most simple solution take a look inside mentor group or even post the thread there.