Search results

Sorry for my rudeness in the previous reply, not having a good day. But yes, he should first fix his tax residency issues and then find a way to make everything legal because avoiding taxes may work in the short term, but the problems that may appear in the future could destroy everything he's...

Whatever floats your boat buddy. Both options he suggested will eventually cause him trouble as he's avoiding taxes. My opinion is on my first reply, I don't care about anything else or about who's misinterpreting information.

If took the line from a website that offers tax services related to what we're talking about, if you want to argue about their interpretation, you're free to send them an email. Here's their website "US LLC Taxes for non-US and US entrepeneurs Ӣ Online Taxman" And now, from my own point of...

"you are engaged in “considerable, continuous, and regular” business in the US". According to what he said, all his business is in the US

I know it's not what you're looking for, but you'd be better off paying the taxes you have to pay, you'll sleep well, everything will be legal and you'll still be making a good amount of money. If you start avoiding taxes you may end up with a lot of troubles and even having your assets seized...

I agree, their support is trash and most of the times you'll be wasting your time

All my transactions have been below that amount, between 0-8000 Eur and close to but not over 6 figures in total (in around 7 months). All of it was crypto related

It's two completely different things. The 2M one is the wealth tax and the other one is taxmen trying to know which cryptos you have with new laws

Crypto wallets don't have your name though, so even though you legally have to declare it, you can say the crypto isn't yours. You would be breaking the law if you do this, but it'll be hard for them to prove the wallet is yours.

If it's your crypto, you'll have to declare it (wealth tax)

Please note that in certain places (such as the canary islands), you cannot get vaccinated that easily, you'll have to live here for a while, get proof of that and then go ask to get an appointment.

Sorry if I didn't explain it correctly, what you're saying is what I meant. You'll have to declare the loan amount (the dai sold for fiat), not all cryptos you have. But be careful as the law doesn't say anything about defi/lending/borrowing, so they may still try to collect taxes eventhough...

1) "If the cryptos were acquired before getting the Spanish residency, the Spanish government would have zero say on it." If they were legally acquired, yes. 2) "And if I only held the cryptos without selling, no reporting requirements." If they're held in a cold wallet (trezor, ledger, etc) in...

In theory, yes. However, if you're in Spain and you get a 100k Eur loan sent your bank using your crypto as collateral, trust me you'll have to explain a lot of things to taxman and probably the bank too. If the amount is low, you should be okay. They will want to know when you got the crypto...

As I said, is the collateral you're using is legal and has been declared, you should be fine doing that

Spanish laws when it comes to cryptos are very new, so it's not 100% certain what they'll do to you or what they'll change in the law. If you hide money and they catch you, you're going to have big problems. If your money is legal and you pay your taxes when it's required, you'll be fine. If...

You should try to talk to a tax advisor in Spain, I'm sure you could find a way to live in a better way rather than paycheck to paycheck.

Yeah Spain is sort of annoying when it comes to taxes, it's a very nice place to live though, I'd recommend you to take a look into the Canary Islands too

If all your money is legal and you're okay with paying 20-40% in taxes, you should be able to do that easily. However, if your plan is to make a lot of money, you're better off in another country and then come to Spain when you want to retire.

1) Technically, you should be okay, however, if you ever exchange those cryptos, you'll have to declare it. The key to the wallet containing cryptos should be located in Spain according to the law, it sounds weird, but yeah. 2) There's nothing about defi in the law that passed, however, pay...