Let's hope they do not check the invoices or try to call the company issued the invoice. I know, chances are small and they are limited to what they can do but still.
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Legally cash out $1+m in crypto - what are the options?
- Thread starter hallcall
- Start date
Deal with tax office through lawyer = history of whatever is findable (sales, trades, CEX history) over the past x years has been provided and used with an accountant to calculate tax. You can't get much more "by the books" than having an expensive lawyer, crypto accountant, and the actual tax office sign off on your crypto history. Wouldn't consider that vague.
Most often a tax lawyer won't help you much against these suckers in the tax office. They will and can refuse even hard evidence.
i have not read the above but f me.
Setup some nominee dud companies where you want and to live ideally tax free somewhere wher e crypto aint illegal
create some nft or some other dead horse, like ico or whatever
you sell these items , buy them with your own cash, invoice those nominee companies. problem solved
Setup some nominee dud companies where you want and to live ideally tax free somewhere wher e crypto aint illegal
create some nft or some other dead horse, like ico or whatever
you sell these items , buy them with your own cash, invoice those nominee companies. problem solved
I don't understand what's so complicated.
In Japan, only selling crypto is a taxable event, buying it and holding it for years while it increases to 1.5 mio is not interesting to any tax office there.
You could just skip all that Dubai business ideas and get a cheap flight somewhere closer, for example with ZIPAIR to BKK, and head to a non-crs neighboring country
like Laos or Cambodia after. Open a few bank accounts there, cash out via P2P with just around 0.8% loss because of commission.
You can just get a Visa card and use it worldwide - though it would be better if you would cease your JP residency.........disclaimer, I am not a tax lawyer and I am just brainstorming ideas here,
which are all fictitious and are not recommended without consulting a professional - who I am not......
If you have been in Japan for less than 5 years and you feel like taking a long holiday, you could just leave for a year, save the resident tax if timed well (like Dec.),
and cash out nenkin (retirement fund) as well. Small change as yen is doomed, but easy way to get fiat for living costs and no issues with SOF.
Don't forget to check the new wealth limits regarding exit taxation in JP if you wanna be squeeky clean though.
In Japan, only selling crypto is a taxable event, buying it and holding it for years while it increases to 1.5 mio is not interesting to any tax office there.
You could just skip all that Dubai business ideas and get a cheap flight somewhere closer, for example with ZIPAIR to BKK, and head to a non-crs neighboring country
like Laos or Cambodia after. Open a few bank accounts there, cash out via P2P with just around 0.8% loss because of commission.
You can just get a Visa card and use it worldwide - though it would be better if you would cease your JP residency.........disclaimer, I am not a tax lawyer and I am just brainstorming ideas here,
which are all fictitious and are not recommended without consulting a professional - who I am not......
If you have been in Japan for less than 5 years and you feel like taking a long holiday, you could just leave for a year, save the resident tax if timed well (like Dec.),
and cash out nenkin (retirement fund) as well. Small change as yen is doomed, but easy way to get fiat for living costs and no issues with SOF.
Don't forget to check the new wealth limits regarding exit taxation in JP if you wanna be squeeky clean though.
Yes, good luck opening bank accounts as a tourist with no ties to the country and telling them you will be depositing thousands of dollars in cash to the new account with source of funds being crypto (or other thing you can come up with, if you manage to fake documents)
The theory sounds great but the practice is not realistic
Then I must be living in a dream world, but for my part it feels very real, especially sweating my a*s off in 42C weather last week.
At least the rainy season will cool it down a bit. But yeah, looking at the swimming pool, the pretty girls, food and the easy daily crypto income seems like a dream for some. It just daily life now.
Reality check:
Cashing in, cashing out, trading, P2P between various banks, with a few 6 digit transactions in the first month. No problemo.
Some of the accounts I opened just with a tourist visa and a guesthouse address. Even got a Prasac account a few years back, and got 12% yearly on USD on a 3 year CD.
There are few Chinese/Vietnamese shops in PP and VTE, where you can just turn USDT to USD cash in a minute (but 6% or so commission I heard). There are lots of these kind of shops in Georgia, Bulgaria, and Turkey as well, and some of them have minimal commission for turning USDT to USD cash. Or just go big, buy and sell a building and get rid of SOF issues with the real estate sale contract.
Back to Cambodia:
Today, you might want to show them a rental contract and a 6 month business visa extension, what might cost you about $370 in total ($210 for the 6 month business visa extension and all documentation for business visa created by an agent, about $150 for the first month rent to get the contract, or you let someone local write one for you for a tip.......
No CRS/ KYC boot stamping on human face here.....
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Can you exchange for local bank transfer aswell?
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