Crypto Gains: Taxation in Greece, the Upcoming 15% Tax & the LLC Solution

If you've made profits from Bitcoin, Ethereum, or any other cryptocurrency and are looking for how to declare them in Greece, you'll discover something strange: there's no way. The Greek tax framework to date does not recognize crypto profits as a separate income category, resulting in these profits being in a gray area that creates practical problems for thousands of Greek investors.

In this guide, you'll see what applies today, what will change soon with the upcoming 15% tax, what the real risks of the current ambiguity are, and what legal alternative more and more traders are using: forming a company in Wyoming, where trading profits are considered company income with zero corporate tax in the US.

The Current Legal Framework in Greece

Greece does not yet have specific legislation for taxing cryptocurrency profits. The Income Tax Code does not include a category for capital gains from digital assets. In practice, this means:

• There is no field on the tax return to declare crypto profits in a way that "closes" the case.
• Profits are not easily justified. If tomorrow you buy a car or real estate with money from crypto and the tax authorities audit you, you will be asked to prove the source. These profits are treated as "transparent," meaning as if they don't exist, since there is no legal way to declare them.
• The tax authority has indicated through responses and circulars that it considers cryptocurrency profits potentially taxable as income from business activity or capital gains, but without a clear framework, implementation remains unstable.

The result is paradoxical: the Greek investor who wants to be compliant has no way to fully legitimize their profits, while anyone who spends them undeclared is exposed to the risk of audits, presumptive income assessments, and overpaid taxes.

What's Changing: The Upcoming 15% Tax

Things won't stay this way. Greece, in conjunction with the European directive (MiCA, DAC8 for crypto information exchange), is moving towards establishing clear taxation for cryptocurrencies. The proposed plan includes:

• A 15% rate on profits from the sale or exchange of cryptocurrencies.
• A small tax-free threshold of around 400 to 500 euros annually, so that small investors are not burdened.
• Mandatory reporting of transactions by exchanges to tax authorities, which with DAC8 will be automated across the EU.

However, until the regulation is voted on and implemented, uncertainty remains. And for those actively trading with substantial profits, "wait and see" is not a strategy.

The Practical Problem for the Active Trader

If you make sporadic purchases and hold, waiting might be acceptable. But if you trade systematically, problems accumulate:

• Every withdrawal to a Greek bank account from an exchange raises questions from the bank (KYC, source of funds).
• In a future audit, an unjustified increase in wealth can be taxed at the highest rates as unjustified income.
• You cannot use the profits for purchases, investments, or business activities without fear.
• Your personal tax identity is directly exposed in every transaction.

The Alternative: Trading via an LLC in Wyoming

The solution increasingly chosen by Greek and European traders is simple in its logic: instead of trading as an individual in Greece, you do it in the name of a US company. Specifically:

• You form an LLC in Wyoming, the state with the most favorable framework for non-US residents.
• You open a business account at an exchange in the name of the LLC, not your own.
• All trades are made by the company. Capital gains are not your personal gains; they are company income.
• In the US, an LLC with a single non-resident owner and no US activity has zero federal corporate tax. Wyoming has no state income tax.

The company has a full tax identity (EIN), issues invoices, enters into contracts, and its income is completely legal and documented. When you want to use money personally, you do so transparently through the owner-company relationship, depending on your tax residency.

What the LLC Solution Costs

Unlike Greek entities such as an IKE (which burdens you with manager social security contributions, double-entry bookkeeping, and 22% plus 5% taxation) or a sole proprietorship (tax bracket up to 44% without legal protection), an LLC in Wyoming has predictable costs:

• Formation: in 24 to 72 hours, with EIN, bank account, and all documents.
• Annual maintenance: approximately 1,200 euros per year, all-inclusive - taxes, license, accounting, annual filing.
• US corporate tax: zero for non-residents without US-sourced income.
• Social security contributions (similar to EFKA): none.

For a trader with annual profits exceeding 20,000 to 30,000 euros, the difference compared to being taxed as an individual (when and if the 15% comes, or in a scenario of unjustified income) or through a Greek company is dramatic. We analyze the same comparison logic in the article Bulgaria vs Wyoming LLC.

How it works in practice, step by step

• Step 1 - Formation: fill out the formation form and your LLC is ready in 1 to 3 business days, with an EIN from the US tax authority.
• Step 2 - Bank account: open a business account (Mercury, Relay, or traditional bank) in the company's name.
• Step 3 - Exchange account: register with an exchange as a business, using the company documents.
• Step 4 - Trading: all transactions are made from the company accounts. Profits remain with the company.
• Step 5 - Annual compliance: a simple annual filing (Form 5472 + 1120 pro-forma for foreign-owned LLC) covered in the maintenance package.

If you want to see how it applies to your specific case, you can book a free consultation call where we review your numbers together.

Important clarifications

Two things must be clear:

• Your tax residency matters. If you permanently live in Greece, Greek presumptive income rules and foreign company legislation (CFC rules, foreign presumption) require proper management. The solution is not a "magic wand" but a structured corporate framework set up correctly from the start.
• The company must be real. With its own account, its own contracts, its own accounting. This precisely ensures that the profits are indeed corporate income and not your personal income.

Frequently Asked Questions

Are cryptocurrency profits currently taxed in Greece? There is no specific legislation, so profits are in a gray area: there is no declaration field, and they are not easily justified as a source of income. During an audit, they may be treated as an unjustified increase in wealth. That's why the upcoming regulation with a 15% tax is eagerly awaited.

What tax will I pay when the new regulation is passed? According to what has been stated, 15% on profits from the sale or exchange of cryptocurrencies, with a small tax-free threshold of approximately 400 to 500 euros annually. The final form will be seen in the bill.

Can I legally trade through a US LLC? Yes. An LLC is a legal corporate form, it opens a business account with an exchange, and the profits are corporate income. For non-US residents without US activity, corporate tax in the US is zero. Managing your tax residency is done with proper planning from the start.

What does an LLC for trading cost annually? Approximately 1,200 euros per year, all-inclusive: annual renewal, license, accounting, and mandatory filings with the US tax authority. There are no social security contributions and no hidden fixed costs.

Do I have to travel to the US to open the company? No. Formation, EIN issuance, and bank account opening are done entirely remotely, usually within a few business days.

Can I transfer my existing crypto to the company? Yes, as a capital contribution to the company, properly documented. The method and timing of the transfer have tax details that you should review with an expert, especially if the profits are already significant.

The conclusion

The current Greek reality for cryptocurrencies is paradoxical: profits exist, but the legal framework treats them as if they don't. The 15% tax that is coming will finally bring clarity, but until then, the active trader remains exposed.

Transferring the activity to a Wyoming LLC solves the problem at its root: business account, corporate profits, zero US corporate tax, and full documentation. See the packages on the formation form or directly book a free call to discuss your specific case.

Form your Wyoming company remotely in 24 to 72 hours, complete with an EIN, bank account, and business exchange account. Get started today.