Well, don't underestimate every one here, majority of people are small fishes but there are people around here that are doing very well and have 6 and 7 figures in volume! MT is pretty easy to work with depending on which country you come from, where the money comes from and what you tell them.
Well, teach me master
Im not underestimating anyone, I just would feel uneasy to put it mildly to transfer large amounts through EMIs like MisterTango. Not to mention it has mixed reputation as well.
To make it even worse my money will be coming from
crypto exchange and going to east europe. Fishy as f**k.
I will be surprised if they don't freeze the funds and ask me for all kinds of stuff including anal sample.
And to top it off I'll have to pay 10% personal capital gains, instead of 5% if it goes through a company.
(please everyone dont start about how 10% is low enough already, i know, but if I can do better, why not, also im libetarian)
The problem is that you got the cryptos before having the company, so if you cash out you need to pay personal taxes on those. You can set up a company in
Seychelles with no par-value, this would allow you to send the cryptos in the company as initial capital. From there you can set up a
TW account and cash out via OTC. Otherwise having a business account on
Kraken.
BUT - if you issue
dividends you will have to pay personal taxes anyway. So probably you are better off to just cash out the cryptos and pay profit taxes in your country if you must have the money as prove of income. Otherwise keep everything in the
Seychelles entity and you are fine.
Couple questions.
1. If I go OTC>TW>my account, will I be able to file this as dividend at the end of the year? Money will be coming from many different individuals as opposed to from the company that I own and is paying me dividends.
so we will have to use Kraken business acc but
2. Won't they ask the company to prove how it made the money (
crypto)
If I say initial capital, wouldn't they ask who give them the initial capital and how he obtained it?
3. Can I just pay as an individual the company to consult me, paying with crypto. Then the company turns around declares that all as profit, cashes out some, pays me dividend and I pay 5% tax?
Quite obvious though, isn't it? Unless someone elses pays it with crypto for consulting?
For those with +6-7 digits, the best would be to buy real estates:
Buying property with bitcoin
For the Seller it allow a tax optimization as well as he could save the profit in True USD without paying tax.
Don't forget why
bitcoin exist guys, don't screw up by trying to cash out your millions to get this shitcoin (FIAT)
From my limited knowledge I see couple of problems.
1. You buy the real estate with crypto, then you sell it for fiat. You declare that profit (how much is the profit actually?) and you
pay income tax, which is not minimilisation at all, but normal tax.
And you could still be asked from where you got the money for the property.
Also as of 2017 most countries share bank accounts AND properties of foreign citizens to their native countries.
Actually I don't see at all how going through a property as a means to exchange
crypto to fiat helps.
Im not forgetting why bitcoin exist, but I need to cash out some part and pay some taxes to explain my lifestyle.
