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HK company

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Thread replies: 18
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Frenchfag OP here. 'Thinking about creating a company in Hong-Kong specifically for trading to avoid taxes on capital gain. Would it be legal and a good idea anyone ?
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>>986799

I considered doing as similar thing but I think I'm going to set something up in switzerland instead.
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>>986802
What's better in switzerland ? Also, where do you come from ?
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>>986805

Austria. Switzerland is closer, and extremely stable.
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>>986810

although I'm not certain yet. I'll talk to my tax advisor first before doing something illegal.
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>>986810
You got a point.
I don't know about switzerland, but for a company set up in HK, you'll have absolutely nothing to pay in taxes. 0% on capital gain and even 0% on income generally speaking. No other taxes as long as you don't operate specifically on HK (otherwise you'll have a single 17.5% taxe). That way you'll only pay taxes on the salary you'll pay yourself. Seems good to me but can't find if it's illegal in any way. Any idea ?
Can you provide some informations about a company in switzerland ?
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>>986820

I was thinking of setting up a regular bank account in switzerland and transferring my mining gains into it, there's no way anyone can track it as long as I don't take it out. it's not income made in switzerland and I don't reside in switzerland so I don't pay any swiss income tax.

but i think legally speaking it probably is tax evasion in my home country, even though my equipment is in russia.

if you set up a company in switzerland however you are taxed twice, so that's a no go.

Still, you're probably right, HK or another crown protectorate may be a more legal option
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>>986824
Seems like tax evasion to me too.
Just for information, how much you win mining actually ?

Anybody else on the subject ?
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>>986829

~ 2.5 btc/day

but I only cash out ~$10/day. it's starting to really worry me though.
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>>986799

Isn't this something you should speak to an accountant and lawyer about, not some 15 year olds role playing on an Estonian candle making forum.
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>>986841
I've been interested in mining btc and/or ltc years ago but i thought it was no longer profitable (at least not as much as it was the first years of digital currencies). Would you please explain me what type of hardware you use and where you rent it ?

>>986863
First steps here, second ones IRL.
Also, asking it to a lawyer or an accountant (as a lambda guy) is probably the best way to be placed under surveillance. Just as an example, the minister of Finance, here in France, asked the parliament to think about remunerating the informers (people denouncing the fraudster anonymously).
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>>986962
>I've been interested in mining btc and/or ltc years ago but i thought it was no longer profitable (at least not as much as it was the first years of digital currencies).

>Would you please explain me what type of hardware you use and where you rent it ?

no, sorry :)

I think you can understand why based on your own assessment of the situation
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>>986967
'Was not really expecting another answer. :) Good for you anyway but indeed, you need to find a way to launder it.
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>>986799

If your tax law is anything like most countries' tax laws, then this is most certainly tax evasion, and tax fraud if you fail to report it on your French returns. I'm not a French lawyer but I bet they tax income from all sources, be they national or international. They likely wouldn't look into it if it isn't much money, but based on the cost of registering and operating a business in HK, you would have to essentially be making a lot of money out of the arrangement to make it worthwhile.

Is there no way you can like, open a trust and make the trustee/beneficiary an HK citizen who isn't a French citizen who exercises their trust duties by investing the funds and building income for the trust capital gains tax free and then conveys you portions of the money in promissory notes that they could technically demand but won't due to your unspoken arrangement? Would have to be a good friend obv.

This isn't advice though. Def see a lawyer before doing any of this
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>>986824
>>986841
>>986967
Are you mining it with others' computers?

smdh senpai
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>>987051
Unfortunately i can't do that. (Don't know anybody who could help me there.)
It seems like I will have to ask a professionnal (probably a lawyer) if this is legaly possible but i will continue to search on internet first.
Thanks anyway.
>>
Legal if you are not a fiscal resident of france.
Legal if you report all income to the FISC -means irs in frog language-

Not legal in all other configurations.
http://www.french-property.com/guides/france/finance-taxation/taxation/liability-income-tax/residency-status/

I would advise OP to either go the expat route which means move to a low cost of life country and set up his company in HK or Dubai or Singapore OR
stay in France and go to extreme lengths to not have any direct link between himself and the banking/corporate administrative structures which means accounts not in your name, no access to those accounts from your computer/own internet connection/never reveal the scheme to a friend/familia/lover/french citizen anywhere in the world get an accountant in a shady haven not in the sphere of influence of the UE, never have your name in anyones black book or any administractive contract that set up companies or accounts, never travel directly to the country of the misdeed take the train to a non EU country then take a flight from there, never confess or talk about it on the phone, dont keep your haven accounting at home, assume your place will be searched.

In case of a running up against the authorities, tax law is the only subset of the legal system where the burden of proof is placed on the individual accused. Even though terrorism gets all the headlines and loads of the funding, intelligence services are mainly used in tax related white collar cases and cyber fraud. It is extremely likely actual gov spying resources will be used against someone suspected of tax fraud. If you are high profile or a celebrity the media will harass you.

Just fucking leave France it's simpler and legal.
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>>986824
>Still, you're probably right, HK or another crown protectorate may be a more legal option
HK ceased to be a crown protectorate in 1997. It's literally ran by commie chinks these days.
Thread posts: 18
Thread images: 1


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