FIRE & professional trader status


so I already FIREd two years ago, but last autumn I put 700k USD into 3 cryptocurrencies which is now worth around 2.4M USD. I’m planning to sell it later this year (more 6 months after purchasing), meaning that I will realize capital gains of at least 1.7M USD (assuming it will go up a bit more).

I am extremely worried about being considered a professional trader to a point of thinking about moving from Switzerland to Dubai or Cyprus (which I would have to do by the end of June). I will basically make only 3 transactions this year (a SELL order for each of the 3 cryptocurrencies I’m holding), but I’m still worried as this is my only source of “income” for 2024.

Am I being overly paranoid? Is there anyone I could talk to? I already sent an email to Schwyz tax authorities but they haven’t replied yet.



5 posts were merged into an existing topic: Being classified as a professional trader