So Belarus president announced that in march, for the next 5 years, cryptocurrencies will not be taxed. Is anyone else planning to move there for 6 months, declare 0% taxes on your crypto, send your money to a swiss bank, then move back home? That's what I'm planning to do.
This is probably the best time and place to cash out your crypto. And everything is cheap in Belarus so you get to live as a king there.
You should do more research about tax laws.
You tax liability is still your "old" country, which you bought and traded your crypto.
What are the chances that i'm not going to be fucked by bat'ka if i'm from putinland?
actually would like to do this when i cash out. but probably just live there. thanks user, im gonna think about this
The government doesn't 'know' where I bought my bitcoins nor could they prove it. If I declare that I bought my bitcoins in Belarus and sold them there, they would have to ask the Belarusian government for proof.
just say you made it while you were there?
nigga u dum lol enjoy prison
What if they do? Endless assrape for you kek
True. When you can proof that your entry point is in belarusian, then your are gucci.
You should also look back into double taxation. Moving back to your old country has some strict tax laws.
I've read up on it and it seems Belarus is incredibly save so long as you don't seek trouble politically. You can walk at night without fear. Everything is clean and safe.
"Just saying", you need to give evidence about your entry point otherwise you get fucked with avaraged higher tax.
Just travel 10 years until tax fraud has limitationed
>ready for Belarus
yea, bodgy some shit up, say you bought some shit coin that went up heaps, edit files on paint. stop being so scared
You are overestimating poor country, ready to blow the fuck out of you if you have no backup as a foreigner, especially post soviet relations
I'm also planning on not coming back to my old country. Live in Brazil or Montenegro from a swiss bank or whatever. Ideally, I'd like to put my money from a Belarusian bank to a swiss bank then buy Vanguard index and live blissfully for years, taking out 4% every year (or less, since I wouldn't need that much money).
I'm meeting a tax lawyer next week to figure out the details.
Hmmm, any ideas on how to 'create' this evidence? Can I cash out from my bitcoins, buy new bitcoins in Belarus, wait 6 months there then declare 0% gains?
>hear that the women are hot >can't speak Belarusian or Russian >they're all cuties that want marriage.
Any case. best of luck, let me know of your success. I'm very interested.
>Hmmm, any ideas on how to 'create' this evidence? Can I cash out from my bitcoins, buy new bitcoins in Belarus, wait 6 months there then declare 0% gains?
This is the problem everyone has avoiding taxes. You cannot create such an evidence. All you can do is getting untraceable with monero and sell for cash. Then you have the problem of massive amounts of cash sitting around for 10years (tax avoidance limitation)
I'll keep it in mind thanks OP. FWIW, in some countries, if you're abroad for over half of the year you don't pay taxes there.
Yep. I'm planning on going this summer until next year.
Monero's a good idea. For cash, I'm still going with a swiss bank. I have family members that have banks there and will set me up. I still plan on just investing in a Vanguard index and let it grow. I wouldn't mind paying taxes on those but it's the crypto itself that would be heavily taxed. Hell, I could probably just live in another country while letting the index grow and no one could stop me.
>if you're abroad for over half of the year you don't pay taxes there. That's the plan.
HINT: MOST COUNTRIES TAKE YEARS TO ATTAIN CITIZENSHIP IN, IT COSTS AROUND $2400 TO RENOUNCE YOUR US CITIZENSHIP, THERE IS AN "EXIT TAX", IF YOU ARE NOT GAINFULLY EMPLOYED, NO COUNTRY WILL ACCEPT YOU (NEETS OUT)
That's not how this works. You are not innocent until proven guilty when it comes to taxes, it's the opposite around, you are considered guilty until you can prove that your innocent.
I have been thinking of doing something like this but I would do it permanently, for this and for other reasons. Somewhere in southeast asia or middle/south america.
If you've REALLY made it you can buy citizenship on st kitts, revoke your western kike citizenship, and enjoy 0% tax for life and nobody can do shit about it
>IF YOU ARE NOT GAINFULLY EMPLOYED, NO COUNTRY WILL ACCEPT YOU (NEETS OUT) you can buy citizenship on st kitts, either invest 250,000 on their local industry or buy property valued to 400,000
youll have to live on an island full of niggers though, but it's an ex colony and pretty rich so its civilized
Belarusfag here. Noone of you never read this law about cryptocurrencies. It’s said there, that you don’t pay taxes for everything related to cryptos if you are resident of PVT which is a cluster for belarusian IT companies or you are making transactions with residents of PVT. There is nothing about cashing out tax free, but even if there was, the laws in Belarus don’t always function as they written. You dumb fucks just read some headline of a stupid article on bloomberg or reuters like “Belarus if the first crypto country “ and shit. I wish you all to move here and get fucked by every official for your stupidity
Oh, I know. I plan on paying ~ 150k euro for residency. Don't think I don't know about this.
An as we all know from history you should not be suprised if Lukashenko will some day nationalize your business and all money
They are not as bad as American niggers.
I wouldn't be surprised if the whole 0% crypto tax is a honeypot to make all the crypto ICO and exchanges nationalized after they set up shop. It's the reason I want to get in and get out within 6 months.
Also, the law isn't yet in effect (only in march) so it might happen as advertised.
>Polfag here Fucking attention whore. Here is your (you), now kys.
>actually believing that Belarussian president would allow people to cash out large sums of money with no catch.
Good luck buddies.
I still hold my citizenship in Belarus and let me tell you, there is no way this shit is that easy. Especially in a country that's corrupt as fuck. How would this benefit the country? I mean his pockets.
I have to pay 150k for residency. Likely in government bonds. I wouldn't mind paying that over taxes.
Going to Belarus to avoid taxes, only to have to pay off the corrupt cops who'll fine you for no reason, and the magistrate, border guards and everyone else
Being a rich foreigner in any third world is suicide
you cash out in Belarus and stay out of your country for next 5 years enjoy your crypto gains
Yes moving to the last dictatorship in europe sounds like a great idea. You should do it
Belarus is literally one of the hardest places in the world to get a work visa. It’s corrupt as fuck too. Gl user
Sure, 0% taxes. But do enough profits and the government will raid your ass.
The problem is you have to live in Belarus
>you come stay my country
>together we keep prosper dream of 1970 alive brother
tbf there is some beautiful girls there, on the flipside you are subject to being raided / btfo whenever the gov pleases.
this is the gov that just arrested and extradited a journalist to azerbaijan (a turkish dictatorship) who visited armenian ran nagorno karabakh, totally out of belarus jurisdiction and got no real backlash,
btw, if american you have to renounce your US citizenship to get out of paying income tax no matter where you live
honestly the best play for crypto trading americans seems more and more like taking up puerto rican residence.. too bad its literally a 3rd world shithole with 1st world living costs
You realize that you can do the same by going to africa, right? If you're going to go to a shithole at least do it properly
How is it hard? There's an embassy in my city where I can get a visa. It's not that hard from what I've been told.
I'm going there to live, not to do anything political or fuck someone's shit.
Not American btw
you have to pay a tax of something like, up to 50% of the value of "(((all your assets)))" when you renounce citizenship.
they dont bother with the little guys, but when you get close to a million they will come for your money and charge you a fee to renounce being American :^]
someone decides they are jealous of you, or just doesnt like you
raided, everything seized, rot in prison
do you understand the downfalls of living in a corrupt country?
USA isnt perfect but theres definitly a safety factor in the western world my friend
I'll remain in my hotel for the six months if I feel like it. I doubt anything will happen if I don't do anything. I don't see why they would raid me. From what I've read it's decently save so long as you don't seek trouble with the government.
Plus I won't be holding any assets with me. Someone in my country will exchange bitcoin and wire transfer to a Belarusian bank then to a swiss bank. Even if they raid me, nothing will be taken.
Plus if the government wants crypto people to come to them, it would be foolish for them to just raid people. I wouldn't be surprised if by next year, a ton of foreigners will do the same thing I'm doing.
>OP is stupid and has no idea that a swiss bank acc isnt what it used to be
What do you mean?
>You tax liability is still your "old" country this only happens in USA. Basically every other country in the world, except North Korea and the USA, are members of the double taxation treaty. only way americans can avoid paying domestic tax is by giving up their US citizenship entirely. land of the free.
>No.7095634 There are lots of countries that don't tax capital gains. i.e pretty much every fucking tax haven, hence why they are called tax havens. Belarus would be pretty low on my list of tax havens that i might move to, because it's literally a third world country. I'd also wager that Belarus has a high income tax.
Personally i'd chose Montenegro. Flat 9% rate for income and capital gains (crypto). Stunning scenery. Stunning women. Low cost of living. Low cost property. Low crime rate. Easy to get residency. Perfect climate. Porto Montenegro is already basically the new Monaco.
Montenegro's basically where I want to live. Especially Kotor. My plan is to cash out my bitcoins in Belarus, live there for 6 months to declare 0% taxes, get money from swiss bank into Vanguard index, buy property in Kotor and live there for the rest of my life. atm bitcoin is 25% taxed where I live. I wonder if it isn't better to just bite the bullet and live in Montenegro, declare 9% taxes there instead of jumping hoops in Belarus.
>Belarus >Corrupted As soon as you don't plan to replace bat'ka no one will give a fuck about you.
stop underestimating corruption. Once you'll have a million dollars to cash out, every third world will want your money and end you, if you got no backup. Especially if you also come from shithole. >tfw cant cash out cause from shithole
after panama papers, swiss banks will someday, or now, i dont know, share information with other countries and banks. Is not that "secret" anymore
>because it's literally a third world country >third world
t. third worlder
Pyccкий?... Чyвaк; чтo ты мeлишь?
Wrong. And if you can't cash out in Russia you're doing something wrong. t. Russian
it's the poorest country in europe
If you told me that I would’t doubt you.
But my issue is with incorrect usage of terminology. fyi, it’s not the poorest and please, if you are seeking to retain wealth and avoid trouble Mont’ is not the fucking place lol.
Paccкaжитe кaк вы плaниpyeтe вывoдить пo нecкoлькo миллиoнoв pyблeй в мecяц бeз жaднoгo жeлaния бaнкoв пoгacить вac и вaши cчeтa c пpичинoй в пoдoзpeнии нa oтмывaниe дeнeг. Или жe пpoхoдить пo pиcкaм вывoдa в нaличныe тpeтьими лицaми. Кoпeйки нe интepecyют.
But why Belarus? Doesn't Slovenia also do this? And Slovenia seems like a 100% nicer, safer place to live than Belarus.
Bыхoдить нa нaдёжных людeй, oчeвиднo.
we have to share infofmation about foreign bank acc's with their country of orgin
also if youre good luck even opening an acc here, after 2009 we dont like americans very much
Honestly, I'm starting to think it's just better if I go to Montenegro and live there right now.
Guys, please listen. I'm a 33yo American, and I've spent some a lot of time in Eastern Europe.
You have to understand that in order to live in a place like Belarus, you HAVE to learn Russian. It isn't like Western and Central Europe where you can get by with English and few words of the local language. Don't underestimate this.
Yeah, so I've heard. Basically no one speaks english.
Is Slovenia an option as well? How hard is it to be a resident there?