Question Proper crypto-trading structuring for Russian resident

[serzh]

And what about banking? How do Maltese banks deal with crypto exchanges?

 

[CyprusLawyer101]

Hi guys, i'm an algo-trader (HFT) in crypto with russian residency. Due to some strange crypto regulation initiatives in Russia i have thoughts on moving to other crypto-friendly country. It would be nice to have a comfortable EU entry in future, but the main goal is to have proper nice taxed business with fiat bank account.
What choices do i have?

Hi there,

As a reply to your question:

Move to Cyprus as a non dom;
Set up a Cyprus company and open an account with the same crypto exchange you trade from;
Make a capital injection of your cryptos into the Cyprus company and keep operating the Cyprus company and enjoying the income;

Hope this helps.

Good luck!
Lawyer101

 

[manwithtoupe]

Make a capital injection of your cryptos into the Cyprus company and keep operating the Cyprus company and enjoying the income;

Can a capital injection be done directly in crypto or must it be done in fiat, and then converted to crypto?

 

[CyprusLaw]

Can a capital injection be done directly in crypto or must it be done in fiat, and then converted to crypto?

It can be structured either way. Your tax advisor will assist you in setting up the correct structure.

 

[CyprusLawyer101]

Can a capital injection be done directly in crypto or must it be done in fiat, and then converted to crypto?

Both options are possible. The cryptos can either qualify as assets or money and both will work.
The injection itself also povides for additional tax benefits.

Hope this helps