My crypto tax avoidance plan

[Frank Funk]

Good day,

I plan to exit some of my crypto and would prefer not to pay taxes on it. Here is my current plan to avoid it.

I am a EU citizen but am resident in the Balkans (non EU). I have non-tax-resident status in my EU home country.
The plan is to offramp via one or more EMI's and then send the money to the Balkans or invest into equities.
My home country does not expect any taxes from me due to the non-tax-resident status and the country I reside in does not care a long as the money is coming from an account in my name (no questions asked).
There is also no financial data exchanged between the countries.

I can obfuscate the trail by using service which will be seen as the money coming from a private person, not an exchange.

Do you good people see any holes in this strategy?

 

[CyprusLawyer101]

Good day,

I plan to exit some of my crypto and would prefer not to pay taxes on it. Here is my current plan to avoid it.

I am a EU citizen but am resident in the Balkans (non EU). I have non-tax-resident status in my EU home country.
The plan is to offramp via one or more EMI's and then send the money to the Balkans or invest into equities.
My home country does not expect any taxes from me due to the non-tax-resident status and the country I reside in does not care a long as the money is coming from an account in my name (no questions asked).
There is also no financial data exchanged between the countries.

I can obfuscate the trail by using service which will be seen as the money coming from a private person, not an exchange.

Do you good people see any holes in this strategy?

This is a tax evasion plan which may or may not work. There are available tax planning options which would work ans stand the test of a potential tax claim. If there is true interest I can PM you to discuss.

 

[Frank Funk]

This is a tax evasion plan which may or may not work. There are available tax planning options which would work ans stand the test of a potential tax claim. If there is true interest I can PM you to discuss.

Sure, lmk what you have in mind.

 

[stevy777]

Everything is on the blockchain so can be seen by everyone

If you want privacy look at MESSIER M87 cyprto project.

There's other reasons too why people want to have anonymity, such as donating to charity anonymously or creating a wallet that no one knows about because you want to protect yourself from phishing contracts. You can still declare the wallet to tax authority after

Best way to mitigate crypto tax is to mitigate all taxes by corporate structures or residencies.

 

[wellington]

Just move to a tax haven for a year.. bring the money into fiat and then return home and slowly bring over based on the allowance...

 

[JimBeam]

How much cash are we talking about?
Why cash out now when crypto is worthless?

 

[Frank Funk]

How much cash are we talking about?
Why cash out now when crypto is worthless?

Not now, gradually from 6-12 months onwards

 

[JohnnyDoe]

now when crypto is worthless?

2 years ago we were all hoping and dreaming of btc at $19k

 

[CoinMaster]

How did your plan go ? I mean, what did you do to avoid your taxes or reduce them as your plan described above?

Interesting to learn how this can be made possible and in which country the easiest.

 

[Marshal]

How did your plan go ? I mean, what did you do to avoid your taxes or reduce them as your plan described above?

Interesting to learn how this can be made possible and in which country the easiest.

Probably Germany, as you have suggested in another thread. No questions will be asked afterwards (when/if you decide to move elsewhere) as money will be in a German bank, I see it as an advantage.