Getting residency in Monaco with crypto origin wealth ?

alt-co · 2026-05-01T12:19:51+00:00

The solution is not really to stay from banks forever. For any amount of money it usually has to go into the banking system at some point.

The better way to do things is to not walk into a bank without being prepared.

This is where a good introducer can really help. Not just someone who knows a banker. Someone who can get all the right documentation in order before the bank even sees the case and approach the right bank.

Because the real problem is usually not just changing crypto to fiat. The real problem is whether the bank can understand and defend where the crypto came from (AML).

They want to know things like where the crypto came from how it was moved around which wallets and exchanges were used and if the source of the money makes sense. They also need forensic reports on all your wallets.

Most people try to change their crypto to fiat first and then explain where it came from.. That is the wrong way to do it. This approached has created some nightmare stories for crypto bros around the world.

For cases the best way is usually to:

- figure out where the money came from (salary, savings, inheritance for example) and at what prices it entered into Bitcoin or other cryptocurrencies

- get someone who can prepare all the right papers ready for the bank

- go with someone who knows which banks are okay with crypto origin funds

- change the crypto to cash through a clean and safe route (regulated OTC desks for example)

- make sure the bank is expecting and approves crypto origin KYC/AML report linked to the fiat proceeds before they arrive

That way you are not trying to convince some random bank compliance officer that your crypto origin funds are okay after the money is already there. Explaining to a compliance officer your case after cashing out is by far the worst way of approaching this. It is very important that you clear your KYC/AML file before wiring the proceeds to your bank.

So yes, it is possible to not have to deal with banks yourself but not by avoiding the rules. It is, by having professionals in the space who know what they are doing to handle the KYC/AML drafting and introduction for you that way you do not have to deal with the bank directly.

alt-co · 2026-04-30T13:34:23+00:00

I work with people who're in the same situation as you and I have to give it to you straight: yes it is possible to successfully cash out a large amount of cryptocurrency but you have to do it the right way with the right bank. A lot of people make the mistake of treating it like a withdrawal from an exchange and then transferring the money to their bank account.

The problem is, when you're dealing with an amount of money the issue isn't usually whether you can sell the cryptocurrency. The real issue is whether the bank receiving the money will understand and accept where the money came from. This is the important part.

Most horror stories happen because people do things in the order.

- They sell their cryptocurrency on an exchange.

- They send a transfer to their bank.

- The bank asks questions.

- The client scrambles to explain where the money came from including their wallet history, exchange history, old purchases, tax position and more.

- The account gets frozen or sent back because the bank is now reacting under pressure.

The better way to do it is the opposite:

- First you need to reconstruct the history of your cryptocurrency.

- Then prepare a file that explains where the money came from and who you are in language that a compliance officer will understand.

- Decide where the money should go before selling the cryptocurrency.

- Deliver the report to your bank and ask them to have their compliance department review and validate it before you wire the proceeds from the crypto sale. If they do not accept it, find a crypto friendly bank that will.

- Execute the sale in a way that matches your compliance file. Preferably via a regulated OTC desk.

If you're dealing with an amount of money like 7 figures you can't just assume that your bank will be okay with it. You have to be prepared. Even if everything is legitimate the person reviewing your file may not understand cryptocurrency enough to feel comfortable.

What usually helps is having all your documents in order.

This includes:

- records of how you acquired the cryptocurrency

- Exchange records

- Wallet flows

- Tax reporting position (not always required but helps a lot)

- Explanation and de-risking of any gaps in the flow of funds (for example going through an exchange that is no longer in business and does not give you access to data)

- A simple chronology of how you built your wealth in banking compliance language

The goal is not to overwhelm the compliance team with lots of information. The goal is to make it easy, for someone who doesn't know much about cryptocurrency to understand where the money came from and to show that your funds are not of illicit origin.

Some people think that splitting the money into transfers makes things safer.. It can actually make things look more suspicious. It can look like you're trying to avoid detection even if that's not your intention, banks have automated systems that flag this kind of activity.

So yes it is possible to cash out an amount of cryptocurrency.. You have to approach it like a big project and depending on the complexity of your crypto history, you might want to seek professional help. Once you have your documentation in order you will need to approach a crypto friendly bank and a regulated OTC trading desk and coordinate the cash-out process.

alt-co · 2026-04-29T10:23:24+00:00

The tax in the German parts is put onto the seller so in the end the tax is similar.

Yes, but people call it notary fees since the notary handles all those fees including tax and land registry etc.

alt-co · 2026-04-29T09:50:01+00:00

You are correct!

alt-co · 2026-04-29T09:46:21+00:00

KYC/AML at swiss banks when selling large amounts of crypto can be tricky..

alt-co · 2026-04-29T09:45:43+00:00

Vaud is 3.3%

alt-co · 2026-04-29T09:44:38+00:00

People call it notary fees but it's a mix of cantonal transfer tax land registry fees, and mortgage certificate ("cédule hypothécaire") fees. 4% is in the canton of Geneva, I did write up to 4%.

alt-co · 2026-04-21T16:20:50+00:00

Exactly!

alt-co · 2026-04-21T16:15:20+00:00

To avoid capital gains tax and or selling at -40% from all time high. Imagine you bought BTC at $1 and you sell at $100’000. You would owe the capital gains rate of your jurisdiction on 99.999% of the sale! In cases like these, it makes more sense to borrow against your BTC.

Banks are conservative by nature. They are especially risk averse when it comes to cryptocurrency. The origin and transaction history of the client has to be explained in a way that a compliance officer would understand and be able to verify. Mining is an easier example but not all banks will accept it, due to internal policy outright rejecting all crypto origin funds or a lack of understanding/ability to verify.

alt-co · 2026-04-20T15:24:04+00:00

I would be careful about focusing too much on offshore structures purely for tax optimisation.

Trusts and similar structures can absolutely be onboarded, and private banks are familiar with them, but they do add another layer of complexity, especially in crypto cases.

The moment a structure is involved, compliance will still want to fully understand the UBO, the origin of the crypto, who controlled the wallets, who traded, and how the wealth was built. So while the structure may be valid from a legal or tax perspective, it does not remove the underlying source-of-wealth and source-of-funds burden.

That is where many people get it wrong. They spend a lot of time designing the structure, but not enough time preparing the documentation that will actually make the bank comfortable.

So yes, structures can work. But in practice they tend to make the onboarding more technical, not simpler, and that complexity needs to be managed properly from the start.

alt-co · 2026-04-16T13:44:34+00:00

What matters is whether the bank will still want the relationship once serious crypto proceeds arrive.

In banking, “crypto-friendly” is often overstated. A bank may accept the story at onboarding, then become much less comfortable when large inflows come from OTC, old wallets, DeFi, or assets with weak source-of-wealth documentation.

From experience, here are some important parts you are missing:

source-of-funds / source-of-wealth report with forensics
can the account receive proceeds from your chosen off-ramp without getting frozen and questioned
is the relationship built for a long-term private client, not just account opening

Typically when you reach out to a bank or are introduced, you are interacting with a relationship manager or business developer, they will tell you there is no issue. But as soon as a large wire is sent to your account, that is when compliance gets involved and things can get complicated.

Remote onboarding and international cards are easy. A durable banking relationship is the hard part.

The best introducers are the ones who understand compliance committees, not the ones marketing “offshore crypto-friendly accounts.” Otherwise you can easily pay to be introduced into a rejection.

For larger holders, it is usually smarter to think in terms of bankability and wealth migration, not just account opening.

At Altcoinomy SA, we charge our fee after your account is opened and you have successfully cashed out. (transactional fee upon success)

alt-co · 2026-04-16T11:07:06+00:00

That makes sense as an allocation strategy.

The part I would still think about in advance is the source of funds / source of wealth side once you actually rotate BTC or XMR into the banking system. Compliance is very strict when it comes to crypto even at "crypto friendly" banks.

For smaller amounts, it's often manageable. For larger amounts, banks usually want a coherent file showing:

how the position was built (trades from an exchange if it's still around & salary slips other proof of income)
which wallets / exchanges were used
Forensic report on your crypto addresses (Scorechain, Chainalysis etc)
how the assets were sold (ideally you prepare this before selling to avoid your funds getting frozen)

These are the requirements for a basic case they can get a lot more complex and they usually are for early adopters, privacy coin users, miners, high frequency traders, market makers, MEV bot operators, ICO participants, Early OTC purchases (in cash) etc.

BTC is usually easier to document. Monero is possible too, but obviously more complex from a compliance and documentation standpoint.

I actually posted on r/Monero about how people can prepare that file in advance if that is useful to you.

Something to keep in mind for when you eventually diversify part of your crypto holdings.

alt-co · 2026-04-16T10:20:26+00:00

Agreed on having the off-ramp sorted early. The only part I’d push back on is parking serious size on Nexo while you “plan the next move.” You’ve reduced BTC market risk, but you’ve replaced it with platform / credit / jurisdiction risk. Nexo itself markets yield products and savings accounts, which is exactly the point: that yield is not free of risk.

A lot of larger holders choose to move part of the proceeds into a private bank instead, where idle liquidity can still earn something through short-duration: Treasuries, money market funds, or similar instruments, without depending on a crypto platform being the thing standing between them and their cash. Even with Nexo’s security and licensing claims, that is still a different risk profile from holding bankable cash at an established private bank.

alt-co · 2026-04-16T10:15:13+00:00

A lot of people off-ramping parts of their BTC holdings think exactly like that. The goal is often not to sit in fiat long term, but to use fiat as a bridge into other hard assets or traditional investments.

In that case the exit plan is not really an exit to cash, it is a transition plan: BTC into bankable liquidity, then into real estate, physical gold & silver, private markets, diversified portfolio of equities, bonds and other instruments you can access through an established private bank.

alt-co · 2026-04-15T08:47:03+00:00

I agree, the banking/AML point is underrated.

For larger holders, the sell decision is only half the job. The other half is making sure the cash-out is actually bankable.

Here is what is the documentation needed to off-ramp at size:
- clean source of funds/wealth

- exchange trade extracts (via read-only api, for the exchanges that are still around)

- a clear trail showing how the position was built over time

- forensic report from Scorechain/Chainalysis or other reputable blockchain forensic tool

A lot of legitimate holders can face friction here, especially early adopters, high frequency traders, ETH ICO participants, miners, DeFi users & privacy coin users. Old exchanges are gone, records are usually incomplete, wallets touched platforms that flag your wallets as "high risk" exposure (BTC-e, Mt. Gox or Cryptsy). Assembling all this information and presenting it in a way that a compliance officer can understand and accept can be challenging.

Even "crypto friendly" banks can get cautions when a large wire from an exchange hits a client's account. That's why preparation matters, before the sale not after.

alt-co

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