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Spaniard - Crypto - Exit strategy - 7 figures

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Sorry for asking too much but since I don't have any experience with taxes︀ abroad I'm a total noob
I understand that opening a swiss bank account once you︁ have the dubai one doesn't make sense.
however, being a swiss resident allows me to︂ be considered from spain as expat and forgeting about paying more taxes in spain.
in switzerland I can fullfil the form 030 and just let spain know that they should︃ forget about me. can i do that in dubai too?
 
Why doesn't make opening a Switzerland bank account doesn't make sense if the account is opened⁢ with the UAE residence? Diversification outside UAE makes always sense.

In UAE you don't have︀ to fullfil anything. As soon as you move Spain will have to forget about you.︁

Don't get it why so many europeans simply don't go the UAE route because it︂ seems to easy to them.
 
Very true So many⁣ Europeans here and on other platform doing so much research on tax saving and other⁢ topics .
They simply solve it by moving to UAE.
I do not why so︀ many Europeans have taboo for UAE
 
As soon as I⁣ move and stay 183 days? In case it's not needed to stay 183 days, should⁢ I let Spain know by Form030 that I'm no longer a fiscal resident in Spain?︀

you've said it, it looks so simple that from my point of view it cannot︁ be true. I'm used to this hell that UAE seems too beautiful
 
Well the UAE trys to make everything to let⁣ the desert look more attractive to foreigners.

You are too european with your thoughts.

Why making it spain that easy? You planning a world trip and say good bye to⁢ spain - if you really want to mention something to them.

That's it.
 
Thanks for answer, Yes these︇ countries would be a problem for large amount of banking, I understand putting 7 figure︈ in Georgian or Panamanian bank will makes me feel unsafe.
I will consider UAE options︉ seriously.
 
Understood, not helping⁤ them will help me avoid consecuences.
I've been reading that I need a local partner⁣ for my UAE company. Is that correct?
 
No, for a free zone company you don't. And they changed laws for mainland companies⁠ as well so you don't need a local partner anymore (not sure when this well⁤ come into effect, I believe they are having a 1 year transitioning period).

Right now⁣ go for a Freezone company, Fred just setup mine yesterday.
 
You should leave the EU.
  • If you want to build a business or continue working‌ consider UAE, Singapore, or S America.
  • If you can retire and sit on a beach‍ sipping cocktails, why not the Caribbean?
Also, have you consider resetting your Capital Gains basis?⁠ Which entails moving to a low tax jurisdiction, selling your crypto either for fiat or⁤ using a stablecoin, then buying it back a month later. Thus resetting the original cost⁣ of your crypto.
 
I don't want to build a business⁢
I don't want to continue working
I don't want to be a full time retiree︀ on the beach
I just to want enjoy life traveling, doing sports, being on the︁ beach and managing my investments

What would be the best destination for that?
 
I've read that⁤ I need to be 183 days in there to get the TAX residency. Is that⁣ true?
 
This thread is very interesting, I am also exploring ways to cash out/move some gains‌ into real estate. This UAE solution sounds promising, however I don't have any business plan.‍ If I just set up a simple drop shipping website business can I get a⁠ resident visa in UAE easily? Or do I have to present a solid business plan/actually⁤ make the business work? I'm a EU citizen if that matters.
 
In case you just want to cashout crypto profits we do the business plan⁢ for you including website and processing history for E-Commerce like you mentioned. The payouts will︀ be considered as merchant payouts by the local UAE banks. You are already thinking in︁ the right direction - everything else is our work as a service provider but always︂ good to have clients to work with that can already imagine how things work out︃ in practice.
 
To get a tax residence certificate‍ in theory but not in pratice due to our experience and even with COVID the⁠ Gov is much more lenient on many things like such requirements.
 
Sounds good for someone who has stolen btc but⁢ I don't see the need to use that "workarounds" to don't pay taxes on something︀ I've earn legally...
Also good luck dealing with EU goverments proving you're not longer tax︁ resident in your origin country without a tax residency anywhere else...
And why would you︂ live in a desert when you can do it in a mediterranean place for half︃ the cost?
For the seven figures bank issue it can be solved as long as︄ is not all your wealth. Suisse banks are always happy to accept new money and︅ there are some crypto friendly banks as long as you can proof the origin of︆ funds.
About the Dubai Life Style 😎 I think is not for me. I prefer to︇ be biking in the mountain or surfing than going to the mall with a lambo.︈ Guess each one has it's priorities...
 
I see - that's your personal opinion and that's fine.︃

I don't know what Switzerland Banks have to do with a Business Setup in Dubai︄ that grants you a 0% tax residence.

There is no mediterranean place with 0% tax︅ that grants you that easy and cheap a residence visa.

And regarding the crypto cashout︆ there are many people that simply have lost there original Exchange Account, the Exchange isn't︇ life any longer etc. - be fair and give some people a chance as well.︈
 
That's for everyone has to look for his personal best option.

Swiss banks have nothing︀ to do with the Business Setup in Dubai, you can open an account in your︁ name and they will be understandable with the proof of origin of funds because they︂ do understand what has happended in the cryptospace and do know that most of the︃ people has suffered the problem you mention.

In EU you have Cyprus with 0% capital︄ gains which includes cryptos for now. Don't know how long it wil last.

About Dubai,︅ i find it a good way to solve the problem too but I don't want︆ to expend 6 months there and I don't want tax inspectors from my country asking︇ which is the place where I have expend most time this year, where do I︈ have my center of interest (which cannot be Dubai if I expend 2 days per︉ year) and so on. I do understand that dubai tax autorities won't be a problem︊ and that are very helpful but you need to undestand that tax authorities from EU︋ are big motherfuckers and the first step has to be done "properly".
 
Yes as a German I know what you are talking about. I live︆ since 2016 in Dubai and can only say that I meanwhile receive the tax certificate︇ with staying 3-4 times a year for 1-2 weeks in Dubai was sufficient to get︈ the tax residence certificat. Just do your research about it and talk to local lawyers︉ in Dubai they will mention you the same. So if the 183 days being in︊ Dubai is currently your only show stopper then you should dig deeper and see how︋ it works in practice.
 
What is the reasonable setup for you? Do you advise or have the full︂ package of creating what is needed?
 
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