Offshore bank to cash out crypto

[kingsx2]

Hi I'm new to this forum

Firstly I'm from Ireland and accumulated a nice wedge of btc eth xrp problem is these was accumulated under the counter so if I cash out here I'll pay 33% tax on everything and risk them seizing it


What I'm looking for is a bank I can open remotely for when I do cash out or am I better to just pay the taxes here

I planned saying my btc was accumulated from mining years ago as I run it through mixers any advice would be greatly appreciated as it's quite a nice chuck now

 

[Gediminas]

Hi I'm new to this forum

Firstly I'm from Ireland and accumulated a nice wedge of btc eth xrp problem is these was accumulated under the counter so if I cash out here I'll pay 33% tax on everything and risk them seizing it


What I'm looking for is a bank I can open remotely for when I do cash out or am I better to just pay the taxes here

I planned saying my btc was accumulated from mining years ago as I run it through mixers any advice would be greatly appreciated as it's quite a nice chuck now

Hey, you pay taxes when you are a tax resident, so in your case, in Ireland.

You could still get an offshore account and off-ramp your crypto over there, but that's unrelated to taxes. You will be safe from getting your assets seized, and that's about it.

Feel free to email me, I can help with such solution.

 

[JohnnyDoe]

Exchange your crypto for cash, gold or else.

 

[kingsx2]

There is no place here really to change to cash and this could run to alot money for me not others but we'll over a million when I cash out if everything goes to half even where I think

 

[Marshal]

There is no place here really to change to cash and this could run to alot money for me not others but we'll over a million when I cash out if everything goes to half even where I think

I'm not sure if I understand you correctly, but if it's millions we are talking about this forum is probably not the best place to look for an advice.

 

[jafo]

There is no place here really to change to cash and this could run to alot money for me not others but we'll over a million when I cash out if everything goes to half even where I think

Haste makes waste!
Think this through. Deep dive into it. Do NOT get desperate and if someone is trying to rush you, they are scamming you!

You can do this. If you earned this money, you have enough IQ to figure this out.

Exchange your crypto for cash, gold or else.

This is a SOLID advice! Cash doesn't have to mean 'LIVE' bills. It can be in a bank account too, but BEFORE you do this...

Let me ask you this @kingsx2: Would you pay the 33% to the taxman or park it in an account somewhere else earning a profit?

Pack your bags! Think this through! While you are thinking and need cash to survive, only exchange exactly what you need to survive. Don't go out and purchase an Aston Martin for God's sake!

(1) Measure thrice, cut ONLY once!

(2) If at first you don't succeed, SKYDIVING is NOT for you!

 

[JohnnyDoe]

I'm not sure if I understand you correctly, but if it's millions we are talking about this forum is probably not the best place to look for an advice.

It definitely is, but it would be better to subscribe to the Mentor Gold Group.

 

[kingsx2]

I'm considering when cash out pay some tax to have money in Ireland to buy a second home but ideally I want most it hidden away

 

[jafo]

to buy a second home

Don't do this! The biggest mistakes of my life were "additional homes/toys". They drain your energy and time and are easy targets for "the legal system"

Do NOT listen to ANYONE who:
(1) Didn't do the same as you and doesn't have the same as you in terms of wealth.
(2) People who have less money than you!

When I read "second home", I immediately remembered how many people thought it was a great idea for me to buy a jet, helicopter, beach house, second home, and yacht! The problem is NONE of them could afford ANY of that and NONE of them had ANY stake/responsibility for the upkeep/maintenance/taxes of them. I do NOT speak to ANY of those people anymore. I hate them with everything I have! What a waste of time, energy, and resources.

These two men detoxified & uncluttered my mind and I got rid of every toxic person from my life:

 

[kingsx2]

Thank you for sure I won't rush into anything I just want keep what I earned

 

[CyprusLawyer101]

There are tax planning options available to cash out without the tax burden.

 

[kingsx2]

@CyprusLawyer101 could u explain please I was thinking if I cash out in Ireland to convert all to btc run through a mixer then back via another mixer to a new cold wallet and play dumb say it was mined years ago and I forgot about it and reason I out through a mixer is it's a lot money and I didn't want risk been hacked as it was on a pretty old pc

 

[CyprusLawyer101]

Mixers is not what I am making reference to. I am talking about legit tax planning, but cannot share this info in public.

 

[kingsx2]

Can I dm u @CyprusLawyer101

 

[CyprusLawyer101]

Can I dm u @CyprusLawyer101

Sure

 

[wellington]

Surely if you've bought via P2P but HAVENT SOLD, then you just move abroad and realise overseas outside of the Irish tax bracket 183 days + other aspects to ensure you are still not tax resident in ireland.

Hi I'm new to this forum

Firstly I'm from Ireland and accumulated a nice wedge of btc eth xrp problem is these was accumulated under the counter so if I cash out here I'll pay 33% tax on everything and risk them seizing it


What I'm looking for is a bank I can open remotely for when I do cash out or am I better to just pay the taxes here

I planned saying my btc was accumulated from mining years ago as I run it through mixers any advice would be greatly appreciated as it's quite a nice chuck now

Surely if you've bought via P2P but HAVENT SOLD, then you just move abroad and realise overseas outside of the Irish tax bracket 183 days + other aspects to ensure you are still not tax resident in ireland.

No need to evade taxes and launder when you can simply legally avoid...

https://www.revenue.ie/en/jobs-and-...ident,employment performed outside of Ireland

Non-ordinarily resident and not domiciled in Ireland​

You might be non-resident, non-ordinarily resident and not domiciled in Ireland for a tax year. In this case you will pay Irish tax on:

• your Irish income and your income from a trade, profession or employment performed in Ireland
• any gains on Irish specified assets only (land, buildings, minerals and assets of a trade carried on in Ireland).

Move to Dubai, Philippines etc for a 'while'.

Understand there might be capital gains tax if moving funds back to ireland in a specific period -> plan around that (extending stay).

If have family, mortgage in Ireland, etc sell property (even at a loss), move family overseas with you.

Sever ties, if have business cease business, sell, transfer.

Crypto is like any taxable asset, its taxed on realising profits.... if there's no profits realised in Ireland and you are tax resident elsewhere the taxes are applied there (in some case 0% or low %).

But all is reliant on severing link to citizenship nation, and maturing before returning...

Buying via P2P is irrelevant, there isn't/wasn't taxes on purchasing.

There is taxes on liquidating.

Structuring overseas entities to liquidate into fiat and bring the funds into Ireland is tax evasion, and money laundering... in many cases...

obfuscating the source to reduce the amount of tax burden.

 

[JackAlabama]

Hi I'm new to this forum

Firstly I'm from Ireland and accumulated a nice wedge of btc eth xrp problem is these was accumulated under the counter so if I cash out here I'll pay 33% tax on everything and risk them seizing it


What I'm looking for is a bank I can open remotely for when I do cash out or am I better to just pay the taxes here

I planned saying my btc was accumulated from mining years ago as I run it through mixers any advice would be greatly appreciated as it's quite a nice chuck now

Best to keep it. Why would you want to change it into very inferior money issued by bankrupt govs?

But if you really must or want to go forward, this is some solid advice here. The world is your oyster and you will learn a lot by moving. After all we are a nomadic species.

Surely if you've bought via P2P but HAVENT SOLD, then you just move abroad and realise overseas outside of the Irish tax bracket 183 days + other aspects to ensure you are still not tax resident in ireland.





No need to evade taxes and launder when you can simply legally avoid...

https://www.revenue.ie/en/jobs-and-...ident,employment performed outside of Ireland

Non-ordinarily resident and not domiciled in Ireland​

You might be non-resident, non-ordinarily resident and not domiciled in Ireland for a tax year. In this case you will pay Irish tax on:

• your Irish income and your income from a trade, profession or employment performed in Ireland
• any gains on Irish specified assets only (land, buildings, minerals and assets of a trade carried on in Ireland).

Move to Dubai, Philippines etc for a 'while'.

Understand there might be capital gains tax if moving funds back to ireland in a specific period -> plan around that (extending stay).

If have family, mortgage in Ireland, etc sell property (even at a loss), move family overseas with you.

Sever ties, if have business cease business, sell, transfer.

Crypto is like any taxable asset, its taxed on realising profits.... if there's no profits realised in Ireland and you are tax resident elsewhere the taxes are applied there (in some case 0% or low %).

But all is reliant on severing link to citizenship nation, and maturing before returning...

Buying via P2P is irrelevant, there isn't/wasn't taxes on purchasing.

There is taxes on liquidating.

Structuring overseas entities to liquidate into fiat and bring the funds into Ireland is tax evasion, and money laundering... in many cases...

obfuscating the source to reduce the amount of tax burden.

 

[JohnLocke]

I'm not sure if I understand you correctly, but if it's millions we are talking about this forum is probably not the best place to look for an advice.

Well, if you have such money and are around here it can still be possible to find qualified advise. Most people underestimate the power of this forum and its members.

I'm sure that people like @JohnnyDoe @Gediminas @EmiratesSetup @James Turner @Financial Dealers among many others around here are playing in the same league.

 

[kingsx2]

I definitely need look at moving for a year or two problem is I have a small business in Ireland and am also vat registered so would need close of that also

 

[wellington]

I definitely need look at moving for a year or two problem is I have a small business in Ireland and am also vat registered so would need close of that also

Weigh up the realised profit vrs business/tax/ ireland living...

Factor in period after realising also before remitting to avoid capital gains etc... (in the UK they can get people on this if they move back within a period of time).

Don't play funny games.... end up in prison...

Irish property is dirt cheap mind (from my perspective) and there's a question on whether you intend to reside in that with these profits realised...

Business is neither here or there, transfer it to a sibling... (nominal payment to you from them covering all fixed assets owned).