MALTA/DUBAI/HUNGARY/CYPRUS - whats the best play in this scenario?

[SixderCuck]

Based on my experiences and experiences of people I know, Hungary works very well for money in/out without real limits. And bank transfers (at least SEPA) can be done with any amount, no one will block you, or suspend or anything .. Never heard this till now (for cash out crypto, any amount / 7 figures+ of local or oversea real estate selling-buying / dividends from abroad / even I had one good friend cash-out few year ago almost 7 figures from EPT Poker tour without being resident.. no pb).

CZ I know less, but as I saw, banks look more strict.

I don't understand the point with the 15% of tax in HU or CZ ? It has to be paid only if you are tax resident there. Passing the money by these banks dont make you tax resident...

For sure now it's less easy to open bank account as non-resident compare to 10years ago.. But if you can open it, I think it's worth it for 'easy' european banking and not considered as 'grey' banking.

lets say if somebody from germany goes to hungary to open an account there and cash out 6 figures, wouldnt it be reported from hungary to the german authorities and they would ask after a while where this person got the crypto from to begin with?

 

[ilke]

lets say if somebody from germany goes to hungary to open an account there and cash out 6 figures, wouldnt it be reported from hungary to the german authorities and they would ask after a while where this person got the crypto from to begin with?

Likely to be reported to Germany, not as likely to have questions.

Crypto capital gains are not taxed in Germany if you held them for over a year, so I don't see it as a big issue that it'd be reported? Hungary is a pretty safe and calm jurisdiction for this.

 

[SixderCuck]

Likely to be reported to Germany, not as likely to have questions.

Crypto capital gains are not taxed in Germany if you held them for over a year, so I don't see it as a big issue that it'd be reported? Hungary is a pretty safe and calm jurisdiction for this.

I mean that germany would ask for proofs where they crypto originally came from since they ask for literally everything also for small amounts
Origin oft the funds i mean

 

[ImKing]

You can also add Germany to your list. If you move there you will be able to cash out your crypto at 0% tax. Crypto gains are tax-free if the holding period is more than one year. So you will have to be in Germany and hodl for a year.

Crypto Tax Guide Germany 2024 [Kryptowährung Steuer]​

there was also published a big article about this in 2022 inside mentor group gold

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www.offshorecorptalk.com

Pretty much the same explained there just with some twists that may be of interest for one or the other if you want to take action.

 

[toums]

lets say if somebody from germany goes to hungary to open an account there and cash out 6 figures, wouldnt it be reported from hungary to the german authorities and they would ask after a while where this person got the crypto from to begin with?

I am not used to with German authorities, but to be reported from HU bank (or somewhere else) you had to give them your german address + german TIN. If you didnt give german address or any german TIN, then they should not transfer the information to the german gvt (at least not automatically by CRS).

Then the point is where are you tax resident regarding the taxation of crypto. Banking itself is not 'linked' with your tax residency.