Legit burger crypto millionaire with a second EU citizenship here...

Legit burger crypto millionaire with a second EU citizenship here. I've decided that I'm renouncing my US citizenship this year due to the impossible tax burden placed by the IRS and their global taxation policy and I'm moving to Europe.
What's the ideal country in Europe to move to knowing that I'm eligible for residency anywhere in the EU? I'd like to minimize my tax burden to the extent possible.

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Obviously I will be consulting with a proper tax consultant and lawyer before I do anything but I need some pointers from Veeky Forums as to where I should be targeting before I contact their local consultants

Ireland?

not a expert or anything
but for tax reasons and a the most 1st world country there is: Luxemburg
if it's too cold there for you just go to a poorer more south country
atleast there you have cheap living conditions

What's their stance on crypto?

>just go to a poorer more south country
Which?

even though I travelled to quite a few countrys like italy, spain, south french i don't know what's best for you
they all have their pros and cons

but one thing to think about would be malta because of their hightier tax regulations and most people there speak english

see this thread OP knew what he was talking about

trips for tldr;

No-tax countries - These are the most expensive choice, both in cost of living and residence permit
>The Bahamas
>Cayman Islands
>BVI
>Monaco
>UAE
>Belarus
this one is only tax free for crypto, 150k € investment for residence visa

Low-tax countries (possibly tax free on CGT):
>Paraguay
>Belize
>Hungary
>Montenegro
>Bulgaria
10% flat tax on all type of income, including crypto.
>Switzerland
>Russia
>Singapore
tax free if holding, taxed if trading
>HK
>Georgia
can stay 1 year without visa
>Andorra
>Estonia
>Malaysia

Are you an actual millionaire or theoretical based on your crypto?

I heard that you can cash out 51k per week in Italy for free.

Unironically Austria

>I'm renouncing my US citizenship this year

Good luck with that. They take part of your total wealth when you do this.

I suggest reporting your coin wallets as stolen, moving out of the country, and then turning them into physical assets like gold, jewelry, and art.

Isn’t there something like when you renounce USA citizenship you still owe taxes for some time after? Or some bs like that?

Looked it up, seems like there may be an exit tax or some shit if you renounce due to taxes.

Deets?

Theoretical, but as these markets become more liquid then the more practical it'll become. From a taxation perspective I'm as practical as they come

If you don't want to live in some eastern European shithole I suggest the Netherlands.

>hungary
>low tax
oh that made me giggle user
18% on capital gains plus 6% public health something 0.6% on every bank transaction you make and 27% vat.
for working people its much worse actually above 50% state redistribution.

Portugal / Spain / Italy

Enjoy the sun nigga.

no tax on unrealized crypto gains

I'd recommend Austria

Whatever you do, don't come to Germany. We have the exact same 'taxable event' crap here the US got just now.

I can tell you more next week. Got a meeting with 2 tax consultant and a lawyer. We will check out, what's the best methode right now

if you are millionaire then move to Monaco

also since you have to ask this sort of questions, you are probably just larping neet

why on earth? people there are real shitheads the country is expensive nobody speaks english. as oppoded to slovenia where living is cheaper everyone speaks english and people are nicer.

>Portugal / Spain / Italy
I'm pretty sure those are very high tax countries with very unclear rules about crypto and you're just getting the benefit of the doubt right now

Don't worry Germany never even crossed my mind

see Also Monaco is stupid expensive and requires a very high upfront investment. The whole point is not to be forced to give away my money if I don't want to

What country?

Austria and i cannot recommend it like this user

I think Denmark is still tax-free on crypto, but iirc that will change, because they're commies.

American citizens have the option of moving to Puerto Rico for 6 months out of the year and paying no cap gains. Might be easier than renouncing citizenship.

only if you daytrade though, for coins you held for a minimum of 1 year you don't have to pay taxes at all

Central Europe is lovely, Slovenia has no tax on crypto, Croatia has 12%, buy a place on the Adriatic and Club Med it for life.

Here in austria its 100% free as long as you hold longer than 1 year. And trading btc to eth counts as selling your btc, even when theres no fiat money involved.

Its good if you just hold longterm, its shitty if you trade more often

>Slovenia has no tax on crypto
Sauce?

How do they define holding for one year though? Staying in one address for a year? What if you move your coins around to different addresses within your wallet, as is common with change addresses etc?

You have to write down every transaction. You can move between ur wallets, but as soon as you trade it into another crypro its a “sell“

Spain has a 20-30% tax on crypto.

>this one is only tax free for crypto, 150k € investment for residence visa

Puerto Rico might not be under the jurisdiction of the IRS I'd look into it and you can avoid having to renounce citizenship

I'm from Malaysia, the government recently clarified that cryptocurrency is legal, but the national Bank does not recognise it as a form of currency, idk what it means but crypto taxation is in a gray area right now

What if I hold a coin like LINK and trade it with i.e. ETH so I can cash out with Kraken?

When you trade link to eth its basically selling link, if no euro value available you must calculate yout profit on the current eth/euro price for example

Just trade with your fat stack so that even after taxes you're still loaded. That way you don't have to live in some third world EU shithole.

stay there, shitskin
we don't want you here

Slovenia, 0 tax on crypto

>capital gains tax excempt from FICA

>long term capital gains tax rate is 0% if you are in the lowest tax brackets.

Put your fucking gains in a long term HODL and don't withdraw for a year, make less than 38k, and enjoy.

Fuck, if you're unemployed now, cash out enough to live out 2018, and HODL until Jan 2019 and fucking enjoy you stupid faggot.

This tax FUD is just a way to fuck you up and therefore owe PENALTIES AND INTEREST.

Slovenia has 0% (yes 0) tax for gains maid with trading crypto.

reddit.com/r/Bitcoin/comments/1tlr02/slovenia_releases_a_statement_about_taxing_of/

To continue, if you're unemployed now.

Cash out 38,000

After tax is 33k in my high tax state.

Live off of 2750 per month, then cash out long term in 2019 for 0% capital gains tax you stupid faggot.

Lamboland crypto-kiddies with 10-20mm are absolutely NOTHING tax wise. You are essentially taxing out the same as an upper class boomer who held their savings in stocks for 40 years. Those old fat fucks pay 0% tax because they wait until they're on social security for a year to do the same.

DO NOT GIVE UP YOUR FUCKING CITIZENSHIP FOR FUD.

Yeah I've heard the same. Norwegian currently living in Denmark. Waiting for my XRBs to continue mooning so I can cash out before legislation arrives.

Tax in 2018 for crypto in the Netherlands

1,000,000 =1.61%

Plus it's a decent place to live and everyone speaks English. Just don't move to Amsterdam, I've warned you.

they can still find out

Portugal seems to be making movements towards being a country for the land of the free... maybe you should look towards portugal

Luxembourg
I don't have to pay any taxes on my crypto gains
Also we still have bank secrecy laws

do i have to report crypto to crypto trades done before jan 1st?

>Ctrl+F my country
>only 1 match
good, stay away mutt

I thought no cryptocurrencies tax in Singapore and Slovenia

I'd recommend Bulgaria user, if you don't want to make any upfront investment. Otherwise Monaco or Belarus

>I'm Slovene and this is tl;dr, please correct me if I'm interpreting something wrong:

>Bitcoin is not a currency. Bitcoin is not an asset. No capital gains tax for bitcoin (I think this is very good news!) Other bitcoin gains are taxed (based on the price of bitcoin when bitcoins are received). Bitcoin mining is taxed (based on the price of bitcoin when bitcoins are received). Businisses are taxed, should be reviewed on a per case basis.


It says nothing about trading tgough? No CGT is not the same as no income tax

Dude I thought this was bullshit but I looked it up and it’s real...I’m going to PR

I can't fucking believe with so many threads nobody has figured out a safe way out.

I'm not a burger. I'm probably going to buy citizenship in st Kitts like Roger Ver and cash out fiat there. Which website will wire money there? Coinbase?

Coinbase will most likely flag your account and lock your funds. Compliance is their motto

I invested 100k into crypto. Can I safely pull out this much and not be taxed on it since I did not profit?

...

Look into SALT. You can take a loan in USD and pay with SALT tokens you bought with your cryptogains.

also the Netherlands.

There's nothing illegal about it, it's a legitimate strategy.

When I went to Amsterdam on holiday my hotel room cleaner offered to sell me cocaine and heroin and shit

>US taxes are too burdensome
>wants to move to Europe
But in all seriousness, you might want to reconsider. The US imposes an exit tax for renouncing citizenship and at that time all property is taxed at its current market rate. Foreign governments have agreements with their banking institutions to try to prevent people from just walking away without paying. You should talk to a legit lawyer.

yes, called the 'exit tax'...they consider all your assets liquidated at the point of your expatriation, even if you haven't sold, and they use that to determine whether you owe the exit tax...it.is.insane