Is Ukraine the new crypto offshore destination?

[Jessie]

Ukraine: New Policy will Legalize Cryptocurrencies ”“ Denis Zarytsky ”“ Medium

5% tax on your crypto holdings and you are free to openly and legally spend your profits without quesitons asked or I'm getting it wrong?

However, if you are not Ukraine citizen what would be the way to go through them and spend freely in your own country?

Ukraine is close to me, the women are nice and i'm tempted to setup something there just because of that 🙂

thoughts? 🙂

 

[Samuel Newman]

Jessie said:
Ukraine: New Policy will Legalize Cryptocurrencies ”“ Denis Zarytsky ”“ Medium

5% tax on your crypto holdings and you are free to openly and legally spend your profits without quesitons asked or I'm getting it wrong?

However, if you are not Ukraine citizen what would be the way to go through them and spend freely in your own country?

Ukraine is close to me, the women are nice and i'm tempted to setup something there just because of that 🙂

thoughts? 🙂
Click to expand...

as I've heared from my Ukrainian clients, that anyone can set up a company or obtain sole trader's status there with 5% tax on turnover
but you need to understand, that your mother country may think, that it is not enough 🙂
anyway they are not a part of CRS for now and in most of countries you may take 10k in cash trough customs without declaring

 

[Jessie]

Sounds good. How easy is to open bank account there and are the banks reliable? Haircut wise.

 

[Hist]

It is better not to have any share and deals with our Ukrainian banks. And if we are talking about 5% rate of taxes
that is only in practice if incomes are over than 7 million UAH. One day people in uniform will burst into your house and demand to pay bribes on a regular basis.