How to withdraw $2-3m from a German account?

[INCC]

The money would almost certainly be reported to German authorities anyway in that case.

So? It's out of their jurisdiction and he pays the taxes in the country where the coins will be liquidated. It's not like they can do anything about it.

 

[SocialManager]

So? It's out of their jurisdiction and he pays the taxes in the country where the coins will be liquidated. It's not like they can do anything about it.

You have absolutely no idea what you are talking about. If he lives in Germany, whatever he does is within their jurisdiction. I just can't believe someone would literally suggest that the German government cannot go after someone because they "liquidated" their funds into a bank in another country. Think about what you are saying. Take 5 minutes and think about that.

 

[MrDenz]

I like how you casually wrote $2 - 3 million dollars as if it were 2 or 3 dollars.

You are quite inaccurate, if you wrote exactly 2 or exactly 3 million, maybe I would help you, but, I'm not sure I want to help you now

 

[INCC]

You have absolutely no idea what you are talking about. If he lives in Germany, whatever he does is within their jurisdiction. I just can't believe someone would literally suggest that the German government cannot go after someone because they "liquidated" their funds into a bank in another country. Think about what you are saying. Take 5 minutes and think about that.

No mate I think you have no idea yourself.

He could just sit behind his computer and open a shelf company in another EU state and get a bank account associated with that company, execute the deals and pay taxes to the foreign country where their so-called "shelf-company" operates.

How are people then doing business overseas at all? 2-3 million is not a small amount that he couldn't manage to open a shelf company that costs a few hundred bucks + some additional fees.

 

[mindmaster]

I am okay with the taxes but the government is not okay with crypto. What is the best way to legalise this income or private methods?

What does it mean the "government is not okay with crypto".

What is the legislation there?

Also, when you are sitting on $2-3 million, you afford a few $$$ to pay a lawyer and/or account for consultancy.

 

[SocialManager]

No mate I think you have no idea yourself.

He could just sit behind his computer and open a shelf company in another EU state and get a bank account associated with that company, execute the deals and pay taxes to the foreign country where their so-called "shelf-company" operates.

How are people then doing business overseas at all? 2-3 million is not a small amount that he couldn't manage to open a shelf company that costs a few hundred bucks + some additional fees.

Whether he has a "shelf company" (you almost certainly mean shell company here) or not does not stop the authorities of one country from reporting him to his home country on suspicion of illegal activity or tax evasion (possibly even financing terror or such). Countries do cooperate in sharing information across borders for these purposes.

Example source: https://www.dentons.com/en/insights...ange-of-information-procedures-what-to-expect

I would be SHOCKED if you didn't have to report income that you earned while living in Germany to German authorities for income tax purposes. Whether you have to PAY the tax to German authorities is different, but certainly they want it to be reported. I've prepared taxes professionally in both Canada and the USA and you have to report to your home authorities.

https://taxsummaries.pwc.com/germany/individual/taxes-on-personal-income
"All resident individuals are taxed on their worldwide income. Non-resident individuals are taxed (usually by withholding) on German source income only."

He is resident in Germany. He is taxed on his worldwide income. He didn't earn the income under a company set up in another country. You are advising him to take part in a crime. Tax evasion and money laundering.

 

[INCC]

He didn't earn the income under a company set up in another country. You are advising him to take part in a crime. Tax evasion and money laundering.

Digital assets are different. They cannot verify where or how the coins were obtained, nor do me or you know that, so if he needs to cash-out then he can sure do that.. ethical? Maybe no but seriously who cares?

Tax evasion? He does not try to avoid taxes nor does he launder money. He can use another jurisdiction for executing the deals if he has a company in that specific country and pay taxes there.

And it's SHELF company. Here:

GOOGLE SEARCH LINK

 

[code API]

Open a Gofunme or Donation site and Donate to yourself

Wouldn't Gofund me require him to withdraw into bank account? Okay maybe he should withdraw it into a non-taxable offshore bank account. Right?

This is not financial advise. I have no idea.

 

[SocialManager]

Digital assets are different. They cannot verify where or how the coins were obtained, nor do me or you know that, so if he needs to cash-out then he can sure do that.. ethical? Maybe no but seriously who cares?

Tax evasion? He does not try to avoid taxes nor does he launder money. He can use another jurisdiction for executing the deals if he has a company in that specific country and pay taxes there.

And it's SHELF company. Here:

GOOGLE SEARCH LINK

SHELF companies are usually aged companies set up by someone else. They aren't something you just go set up. When you just set something up for the purposes that you are talking about, it's a SHELL company. Digital assets are not different, and it's not just immoral. You are talking about committing crimes. If you cannot verify where or how the coins were obtained, the government can almost assuredly seize them. Why? Because the source is almost always either a criminal enterprise OR the owner is looking to avoid paying taxes owed.

 

[Andlisto]

Open a Gofunme or Donation site and Donate to yourself

Does GoFundMe accept cryptocurrencies donations?

 

[selmankaan1]

You don't need to withdraw all, already in a few years you will be able to buy anything you want with cryptocurrencies I recommend withdraw a small amount of money

 

[Partha]

Isn't it free after 1 year holding in Germany?

 

[Appturbo]

Here is a little legal advice.

Never fuck with Germany when it comes to money.

And did you just ask at public forum how to launder the money?

 

[Mindsai]

I think everyone's missing the bigger more darker picture read the O.Ps Headline It States As Follows " How to withdraw $2-3m from a German account?" Now Let's assume They Are Of Logical Sounding Mine because If It's In Bank Account Then Obviously It's 1 already recorded an empirically known an by being known on a bank ledger unless I'm wrong then correct me please but then it's safe to safe being in a bank account it's already easy info if a government needed to see ok now we're on the same page,at least I hope....ok hold on tho cause here goes what I think the O.Ps true intentions was an I only know this mistake cause I made it a few years ago on this very forum,being that the only thing was asked was "how to withdraw 2 to 3 million from a German bank account" let's look at what a logical person would already understand bout this question it's safe to assume the 9nly thing that was asked was asked because this person has attained a poor unsuspecting persons bank information an personal details to the point of having major access to this said unknown persons entire livelihood or nestegg and any logical person would an should come to this conclusion and here is my basis for the remark 1 the name of this particular forum and I think it's fair to say a lil bit misleading to the I'll be nice here "Average" end user Being that before I knew my ass vs. a honeypot site for scammers an fraudsters difference I fell for this very embarrassing post an the reason was the name for this forum is black.com an if your a uninformed enfranchised youth you post something very illegal sounding in Context to a forum in which u think can help u drain a persons bank account an not black hat ways to do internet marketing an the like ya feel me

 

[russellcool]

Does GoFundMe accept cryptocurrencies donations?

No they don't

 

[awesomewebsites]

Buy some reputed website on reputed platform with crypto. You will earn from network like AdSense with monthly payment being credited in bank. You can do this in any country.

 

[Nikolaos]

A German CPA should provide you with better information than people on the iternet.

 

[Kryptoclues]

If you have that much, donate % to children without parents, and old age people without resources, and adopt 1 or 2 elephants.

 

[BowtiesAreCool]

I know a Bank in the States who offers loans in exchange for Crypto collateral. Not sure if they do German, but I could ask.

 

[Scorpion Ghost]

Turn it into cash.

Stuff it in your mattress.

Fireproof the bedroom