Burger here who wants to renounce his US citizenship due to the next bullshit crypto tax regime...

Burger here who wants to renounce his US citizenship due to the next bullshit crypto tax regime, also sick of this fatland in general
Where should I move to minimize my taxes?

Other urls found in this thread:

coindesk.com/belarus-government-cuts-taxes-crypto-businesses/
berekenen.nl/inkomen/vermogensbelasting-berekenen/resultaat#Cm9Q8B6
onecitizen.com
twitter.com/SFWRedditVideos

>next bullshit crypto tax regime
new bullshit crypto tax regime*

If you are rich enough to afford a new citizenship, then pick any of the invest-for-citizenship programs. Vanuatu, Dominica, St kitts etc

Best one is certainly Belarus (cf. coindesk.com/belarus-government-cuts-taxes-crypto-businesses/ )
If you would like to be at least eurofag to for Portugal or France

What's their stance on crypto taxation and CGT in general? crypto is a gray area right now so a distinction between the two should be drawn

>France
isn't it a high tax socialist hell hole though?

I'm not sure, you will have to check each of them and their tax laws. Safest bet is of course to pick one with zero taxes or very low taxes on income in general. I'll write a detailed tax guide here later since so many ask and so much misinformation here

Yes but they are so stupid they havent figured crypto yet
YMMV

This is an example of misinformation. Just because a country "hasn't figured it out yet" doesn't mean it is tax free

The guy said minimize his taxes not evade

True, but doesn't France have high taxes in general on income and CG? Also renouncing citizenship and moving is not evasion.

OP if you're from US good luck getting citizenship anywhere else decent, you only have 3rd world places. Europe doesn't want Americans.

Thanks user. Can you maybe create a trip ID so that we can verify that it's you and not just any random misinforming brainlet? Also if you can estimate when you might be able to post it so that we can be around when it drops would be nice of you

How would moving to a different continent to a country with a high general tax rate on both income and CG be of any use if they do tax crypto but simply haven't fully publicly clarified their position yet? Ignorance of the law is not a defense

Let me worry about the logistics and the admin behind it. I really just need decent pointers (as do others) and I'll work out the details

Man
France only taxes realized gains in crypto (unlike the latest law sanctioned by your beloved president that taxes every transaction)
If you would like to avoid paying any taxes at all while you are accumulating you are free to use a pre-paid debit card yo buy small stuff (

I'll try to post it later today or tomorrow

Yes, but if OP is ready to renounce citizenship I assume he wants the best possible tax situation. Keep in mind you will need to invest about 150k € in Belarus in order to get residence

Fuck off, we're full.

Love,
Ireland

I understand but if you have less than 1MM in crypto why even bother renouncing your citizenship anyways

Russia is like usa with more white people and 13% taxes

Probably not worth it with less than 500k-1M. You could also move to Puerto rico and keep the US citizenship

What's your tax regime towards crypto anyhow? I have never heard about Ireland in the context of a tax haven except for the double Irish corporate scheme

OP, search for Vanuatu. you can buy their citizenship for 280k dollarones or the equivalent in BTC and then you're set for life with literally 0 taxes.

st kitts has no income tax or capital gains tax, on anything

thats where roger ver bought citizenship

you have to have made it already though, you must either buy property for 400k, or invest in local industry for 250k i think it was

Don't leave burgerland it's a privilege to be American. I'm flip wishing to move there. Move your money offshore instead I have mine in Christmas island.

While these are good solutions in nature, they only answer the need for those with a 7-8+ figure in capital. The costs you'd shed by lowering the tax burden easily are offset by the initial investment you'd have to make.
I get that you still buy property and it's yours, you may not necessarily wish to part with such sums for that type of property and at this point in time.

You clearly have never met the IRS. Moving your money offshore doesn't help one bit with these people

well, getting second citizenship would probably be a breakeven to your tax.

I doubt the Irish government has even heard of the crypto Jew desu. To be pandering on about heretical abortion and Brexit borders.

You do realize that the burden of disclosure and payment of taxes as stipulated in law is fully on you regardless if they specifically mention crypto of not?
The only question is what's the Irish govt. official stance on capital gains tax

Portugal

They literally don't give a shit about Crypto Taxing, and living there is cheap as fuck, and the people are really great.
Moved here myself a year ago, was originally from Canada.

You can make a mansion here with $500k, that's how cheap land and labor is.

That's only if the recognise crypto as an asset desu. On quick inspection, you don't have to pay tax on the first 1300 euro or so profit, but 30% after that.

Regardless, since it's self-assessment, to be damned with it. The gay paki ain't getting my gains.

Can you please share more about the crypto tax situation in Portugal bro? I've been seen mentions of no crypto tax in Portugal but no official confirmation. Would like to get first hand opinion on the topic.
Also what's living like there like? Was it difficult to obtain a residency?

people like you disgust me.
you want all the benefits of living in america, but dont want the taxes that go with the first world standard of living. at the first sign of making money in your life, NOW you want to hide it somewhere.
renouncing your citizenship isnt easy, but its permanent. i considered briefly some time ago what you are thinking now, but after visiting 20-some different places around the world, you kiss the ground when you come back to momma usa.
do yourself a favor and just pay the taxes and visit the world like everyone else does...
learn to do what i have done over the years...find a few good lawyers and accountants, invest in real estate and let them dictate what you can write off/maximize on your taxes. its unbelievable how little i pay in taxes, yet get a steady stream of income.
stop looking for the easy way and trudge thru the hard way and the rewards are so much sweeter.

Don't move retard. Just learn to abuse the tax code.

Personally I'm going to withdraw part of my portfolio that I haven't touched in a year and pay the 10% tax on it. But, because I'm paying off my student loans with the money, in also getting a $2500 tax credit from the interest paid. Essentially I'll gave paid no taxes. This is the plan as soon as the first rolls around.

Get fucked IRS.

>learn to do what i have done over the years...find a few good lawyers and accountants, invest in real estate and let them dictate what you can write off/maximize on your taxes. its unbelievable how little i pay in taxes, yet get a steady stream of income.
Can you share your methods then?

Portugal citizen here, for a good payment i could agree to marry you and pass my 0 tax crypto heaven citizenship onto you.

(PART 1)
As far I'm concerned there have been news lately that Portugal will not tax Crypto at all, hell, it would surprise me if they did, situation here in terms of controlling tax is better than Greece but not really on par as with other nations, you tax evade so easily it's ridiculous.

Since Crypto isn't taxable at all, you're not evading, so you can disregard that portion, talking about other types of business.
The EU does want to do something about it, have been talks, but I doubt that it will actually be implemented.

Residency was pretty easy, all I needed was a valid passport to stay here the allowed maximum 3 months, then I went to the Canadian Embassy in Lisbon and applied for a long term visa, they asked the reason and I said that I just wanted to live off my savings.
They said that this reason is usually enough, but that if this doesn't work out, getting work or opening my own business would net me a visa 100%.

I was getting prepared to make a portfolio with whatever I currently own to show them that I can actually afford living off my own money.
And if that wouldn't work out I would just open some small store that wouldn't cost shit, hire someone to be there and call it a day.

In the end I received a letter to pickup my visa without even having to bother giving any more documents for proof aside my passport and current residence in Portugal.

Living here is amazing, I'm seriously surprised with how lovely Portuguese people are, I live near a small town called Pedras Salgadas, it's only 150km away from Oporto (one hour trip), beautiful city whenever I want some City Life.
Basically, it's very calm, beautiful, and nobody gets on your bad side as long you don't fuck with people, my friends are currently mostly Norwegians and Brits that also moved here after having a successful business, Portuguese friend of mine that I knew in Toronto recommended me coming to this place since it's calm, has a big park and is a Spa Resort.

(PART 2)
Downside is that public transport is garbage, but I drive myself anyways so who cares, food is really cheap, for €100 I fill the entire trunk of my SUV, currently living in a apartment, making a house near Pedras Salgadas from my ETH gains.

Labor is incredibly cheap, minimum wage here is less than €500, so if you want to open a business here just to have a visa, that's a good opportunity too.

There are a lot of festivals during the summer, and I have a couple nice entertainment options around me in Chaves, Vila Real and Oporto.
It's not Las Vegas or New York or whatever "dream" people chase, but hey, I love it here.

Dutchfag here, come here it is much better than in burgerland.

We do have proper healthcare, you dont need to spend 5000 dollar to go the dentist.

Crypto is taxed as "capital", each year on all your capital you have above 30.000 euro you pay this tax. Here I calculated it for you if you have 1 million euros in 2017 (in crypto, zimbabwan dollars or whatever the fuck it does not matter):

berekenen.nl/inkomen/vermogensbelasting-berekenen/resultaat#Cm9Q8B6

You need to pay 13067 euro tax on this 1 million dollar for that year and thats it.

Good luck amerifats with your 30% bwhahaha suckers

I've spent a lot of time trying to look for a country to move to. But not because of taxes but because the US has been doing a lot to stop us plebs from trading forex for years.
Allegedly they restricted us to prevent another financial crisis and the fallacy in it all is that the restrictions they place on us pleb forex traders is not applicable if you have more than ten million to trade with like us small time traders really caused the recession.
And also there are dozens of casinos within less than an hours drive I could gamble my lifesaving away no problem, but forex? oh no we cant allow you to do that.
Its infuriating to me that I could be living on the other side of the border and be allowed access to all kinds of really great opportunities in trading forex but cross a imaginary line into the US and not be allowed access to any of that. It makes me so mad that Ive spent a ton of time researching legal ways to immigrate to different countries which btw they make it literally impossible for a forex trader to get legal permission to live in their country. they only allow you in as a business immigrant if you hire at least five of their citizens which Im not going to train a bunch of their citizens how to trade 'cause then they'd just quit and trade themselves which means I wouldnt have enough employees to meet the requirement to immigrate and theyd deport me.

Here is the image with the complete calculation for owning 1 million euros in crypto assets in the Netherlands for 2017. Each year you will need to pay this tax offcourse, but you will get atleast 1-2% return if your not a total utter moron on this kind of money.

waar koop jij munten?
Geen enkele website heeft iets op voorraad. of accepteert mijn rijbewijs niet

Why even move you retard? Just move to Puerto Rico for 183 days, and take advantage of Act 22. No capital gains no tax no nothing.

And you get to retain all the benefits of US citizenship.

You are beyond retarded.

>pay taxes for no healthcare, education thats beyond shit and cops that will shoot you for for the most retarded reasons

Lol no

Koop gewoon ether of bitcoin op een shabby broker zoals bitonic of anycoin direct en stuur dat naar Binance ???? profit

Binance is binnen 10 minuten geregistreerd en kan je 2 bitcoin per dag traden no problemo.

>you want all the benefits of living in america, but dont want the taxes that go with the first world standard of living.
I've had girlfriends from eastern europe I have taken on roadtrips across the US and the number of times the comparison was made "this looks just like my EE country", and it's true there are many large potholes all over the roads, the power infrastructure is only above power lines and everytime the wind blows these toothpicks snap and the power goes out for a day, internet bandwidth is slow and capped both wired and especially mobile is restricted, and they where saying how run down the buildings are similar to how things are in EE.

If you live in the US, virtually every city has real estate investment clubs, often several. Thats how I started in 2000. I had a decent job as a pharmacist, with a wife and two kids in grade school, but i hated the daily grind. I knew how to trade though, and saved 25k up to that point. I went to those meetings (now that its winter, they have more people there so its much better to network this time of year). Those people will tell you who they use for tax purposes...old men have nothing but time to talk and they are very very willing to help you if you put in the time...its definitely not get rich quick, but true hodl and profit.
My first property i bought after going to those meetings for about three months straight...paid 14k site unseen. Owner was old and just wanted to sell it...real shithole but rents were being paid and I STILL OWN IT TODAY, and the tax benefits roll in year after year.
You have to get out there, roll your sleeves up and just do it.

Can you get by with just english or do you need to know portuguese?

>move to Puerto Rico
If you want to remain a US citizen and also escape the taxman then this is the only option in the universe, literally.

>As the U.S. Treasury Department continues to tighten its noose around offshore accounts, a new tax haven has sprung up.
>While the U.S. asserts a sweeping right to tax citizens' income wherever they live and wherever it's earned, Section 933 of the tax code exempts residents of Puerto Rico from paying U.S. income tax on their Puerto Rico-sourced income. Instead, the Commonwealth of Puerto Rico has the exclusive right to tax local income as it sees fit.
>"The way the U.S. tax code is written, I could be on Mars and be taxed on intergalactic income but not if I'm sitting on this island in the Caribbean. It's kind of in a twilight zone," marvels Irvine, Calif. money manager Mohnish Pabrai.

>Under current US law, any US citizen who flies to Mars will have to file a tax return every year. I wonder how that's going to be enforced? US citizens on Mars won't even be able to relinquish their citizenship because, legally, they have to do so at a consulate. A consulate is occupied by a consul and they're a political representative from one state to the territory of another. Under the 1967 treaty, it's unclear to me if the US could even legally set up a consulate on Mars and since the US recognizes jus sanguinus, meaning that all US citizens pass their citizenship to their children, could we wind up with a planet of tax dodgers? I'm looking forward to the first interplanetary tax war.

Depends where you move, if you're in Algarve, Lisbon or Oporto, everyone basically speaks english.
Specially in Algarve, portuguese call it "Allgarve" as a joke for a reason, because it's a vacation paradise for english speaking nations and many actually end up spending their retirement days there.

In the place where I am you can forget only knowing english, some speak it, but most don't, there are more french speaking than english here where I moved into.
So I guess the safest bet for you would be Algarve, it's where the best Beaches in Portugal are also located, and one of the best nightlifes, you could just move to a nearby town if you don't like noise.

>I went to the Canadian Embassy in Lisbon and applied for a long term visa
What?

you really have fallen hard to mainstream brainwashing...gotta break from that mold.
yes you pay taxes for healthcare, and it often seems unfair, but thats what you get in good ol' Marxist USA. Thats tough to swallow but in other countries they wont even give you basic services unless you pay upfront, so pick your poison.
As far as education, it is what you make of it. Home school if you have kids, or use a private school if you wish. There's decent educational opportunities at most every state university, as well as private ones, so I dont really know what youre getting at.
Cops kill so relative few each year and the vast majority are criminals where its a split second judgment to shoot or not. Bad judgment does happen, but the media blows that waaaay out of proportion.

start here -

onecitizen.com

How much do you have to live off?

Would consider retiring in Portugal

Sounds amazing user, really appreciate you sharing it all. Few questions:

1. Is your income based entirely on crypto or are there other kind of streams?
2. If so, what's the tax burden on non-crypto activities?
3. What sort of capital are you working with to make this all worthwhile if you don't mind sharing?
4. How do they treat worldwide income and can you get away with a lower tax burden with offshore banking and incorporation?
5. What do you estimate you spend monthly in total for your life style?
6. What was their requirement for your self sustaining savings? As in how much do you need to have on your to qualify for self sufficiency?

en hoe krijg ik ooit euros terug dan?

you can't defend that shit. fuck that medicare story that you told.
you actually pay for education so you can school your kid at home. wtf dude
and police don't kill many people????, kys

OP is a poor faggot. If you're going to trade this year look into Puerto Rico. No taxes on anything and you get to keep ur US Citizenship.

IF you move to portugal with your shitty $150k portfolio, you will find the job market is shit there, and you lose your $150k coins b/c of some hack, and then now you no longer have US job security, and now you're a poor fuck in Portugal.

The best then is that you can't even come back to the States to see your mom and dad because you're a dumb fuck.

The UK. The EU is trying to introduce crypto laws of their own, and if all goes to plan, we're leaving that hell-hole. Your crypto gains will be safe in the UK. For the time you need to wait for us to leave the EU, put it all in XMR.